# BTCZ (T-REX 2X INVERSE BITCOIN DAILY TARGET ETF)

T-REX · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: BTCZ returned −38.8% where its own daily promise gave −39.2%, 0.5 points over.

## Key facts

- BTCZ, what IBIT did: +21.4%, as of Sep 11, 2026.
- BTCZ, what −2 times a day gives: −39.2%, as of Sep 11, 2026.
- BTCZ, what the fund returned: −38.8%, as of Sep 11, 2026.
- BTCZ, the fund itself added: +0.5 pts, as of Sep 11, 2026.
- BTCZ, net assets: $30m (source, as filed for Jun 30, 2026).
- BTCZ, expense ratio: 0.95% (485BPOS XBRL, Apr 30, 2026).

## BTCZ over each window to Sep 11, 2026

| Window | Fund | IBIT | -2x the move | Difference | IBIT moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −36.5% | +22.0% | −43.9% | +7.5 pts | 45% |
| 3 months | −38.8% | +21.4% | −42.9% | +4.1 pts | 38% |
| 6 months | −30.1% | +8.4% | −16.8% | −13.2 pts | 38% |
| 1 year | +23.5% | −32.7% | +65.4% | −41.8 pts | 45% |
| Since launch | −86.0% | +34.0% | −68.0% | −18.1 pts | 48% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of IBIT, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -1.81 times, against -2 stated | ETFIQ |
| Underlying | IBIT | ETFIQ |
| Segment | asset class, crypto | ETFIQ |
| Net assets | $30m | source, as filed for Jun 30, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Apr 30, 2026 |
| Launched | Jul 10, 2024 | ETFIQ |
| Underlying volatility over the window | 38% annualized | ETFIQ |

## Questions

### Did BTCZ return -2 times IBIT?

Over the window to Sep 11, 2026, IBIT moved +21.4% and BTCZ returned −38.8%. 2 times that move is −42.9%, so the fund came out 4.1 points ahead of it.

### Why does BTCZ not return -2 times over a year?

Because it resets daily. BTCZ aims at -2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.

### Which -2x IBIT ETF tracked its stated multiple most closely?

2 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the arithmetic.


## Cite this page

ETFIQ, BTCZ, data as of Sep 11, 2026. https://etfiq.com/funds/BTCZ
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/BTCZ  ·  JSON: https://etfiq.com/funds/BTCZ.json