What Is the MSTZ ETF? Returns, Fees, Holdings, and Alternative ETFs at a Glance
The T-Rex 2X Inverse MSTR Daily Target ETF (MSTZ) is an inverse leveraged product that tracks -2x the daily performance of MicroStrategy stock. High fees, compounding decay, and single-stock concentration are the key considerations.
SubscribeWhat Is the T-Rex 2X Inverse MSTR Daily Target ETF?
It is an inverse leveraged ETF that tracks -2x the daily return of a single stock, MicroStrategy (MSTR). Using swap contracts, it aims to deliver roughly double the gain when the underlying stock falls, and its exposure is reset every day.
It suits active traders who want to make a short-term bet against MSTR's share price, and it presumes investors who fully understand leveraged and inverse structures.
The ETF is actively managed by Turtle Capital Management.
How Does the T-Rex 2X Inverse MSTR Daily Target ETF Invest?
| Item | Details |
|---|---|
| Tracking Target | MicroStrategy (MSTR) daily -2x |
| Management Style | Active (inverse leverage using derivatives) |
| Rebalancing Frequency | Daily (daily exposure reset) |
| Distribution Frequency | Not applicable |
| Issuer | Turtle Capital Management |
| Total Expense Ratio | 1.05% |
Through swap contracts, the fund seeks roughly -2x exposure to the daily moves in MicroStrategy's share price. It gains when the underlying stock falls and loses when it rises. Because exposure is reset every day, holding for more than one day means the compounding effect can cause cumulative performance to differ from a simple -2x.
- Inverse leverage concentrated in a single stock, MSTR
- A short-term tactical tool based on daily rebalancing
T-Rex 2X Inverse MSTR Daily Target ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $82.3M, and the total expense ratio (Expense Ratio) is 1.05% per year.
As a derivatives-based inverse leveraged product, its fees are higher than those of typical passive ETFs, and it is used for short-term trading turnover.
T-Rex 2X Inverse MSTR Daily Target ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeBecause it moves in the opposite direction of the underlying MicroStrategy share price, it tends to weaken when the underlying stock is strong and strengthen when it is weak. Daily volatility tends to be very high.
When volatility in Bitcoin and MSTR shares expands, capital turnover tends to pick up on short-term hedging and contrarian betting demand. Fund flows are characterized by repeated short-term entries and exits rather than long-term holding.
T-Rex 2X Inverse MSTR Daily Target ETF Pros and Cons
Its strength is the potential for amplified gains when MSTR declines, but the major drawback is the high risk of losses from leverage, compounding, and time decay.
💪 Key Strengths
⚠️ Points to Watch
T-Rex 2X Inverse MSTR Daily Target ETF Alternative ETFs and Related Products
Among the products shown in the table, SQQQ tracks -3x the daily performance of the broad Nasdaq 100, SH and PSQ track -1x the S&P 500 and the Nasdaq 100 respectively, and SOXS tracks -3x the semiconductor sector. While these are inverse products diversified across an index or sector, this ETF differs in that it concentrates on a single stock, MicroStrategy. To get daily +2x long exposure to the same stock, you can consider MSTU, and for inverse access to the Bitcoin price, you can look at BITI as well.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 SOXS | Direxion Daily Semiconductor Bear 3X ETF | $81.22 | +39.2% | $6.2B | 1.00% | 14.59% | -87.7% |
 SQQQ | ProShares UltraPro Short QQQ -3x Shares | $49.55 | +19.2% | $1.8B | 0.94% | 6.57% | -26.6% |
 SH | ProShares Short S&P500 -1x Shares | $33.83 | +4.4% | $939.7M | 0.88% | 3.76% | -7.4% |
 PSQ | ProShares Short QQQ -1x Shares | $28.28 | +6.3% | $644.3M | 0.95% | 3.68% | -5.7% |
 SPXU | ProShares UltraPro Short S&P 500 | $39.01 | +13.2% | $405.0M | 0.90% | 5.58% | -24.5% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| MSTR | Strategy Inc | 0.07% | $129.30 | -9.3% | $54.6B | - | - |
T-Rex 2X Inverse MSTR Daily Target ETF Investor Checkpoints
Here are the points to review before investing in MSTZ. An inverse leveraged single-stock ETF is a short-term tactical tool and should be approached only after fully understanding its structure and risks.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| ⏱️ Holding Period | Check whether you are trading on a daily basis | Short-term holding assumed |
| 📉 Directional Conviction | The basis for your MSTR downside outlook | Needs verification |
| ⚠️ Leverage Risk | Awareness of the potential for magnified losses | High risk |
| 💵 Expense Ratio | Check turnover costs and the fee burden | On the high side |
When the underlying stock rises, losses expand to roughly double, and the longer the holding period, the more compounding and volatility decay can produce results that differ from your intent. With no defensive mechanism, principal losses can be large.
It is a tactical product suited only to a limited group of active traders who want to make a short-term bet against MSTR's share price. It is unsuitable for long-term holding, and it is advisable to approach it cautiously, and only if you fully understand the leveraged and inverse structure and the compounding risk.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 25, 2026.
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