{
 "ticker": "MSTU",
 "name": "T-REX 2X LONG MSTR DAILY TARGET ETF",
 "issuer": "T-REX",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/mstu",
 "html": "https://etfiq.com/funds/mstu",
 "markdown": "https://etfiq.com/funds/mstu.md",
 "as_of": "2026-09-30",
 "verdict": "Three months to Sep 30, 2026: MSTU returned +117.0% where its own daily promise gave +130.0%, 13.1 points short.",
 "key_facts": [
  {
   "key": "what_mstr_did",
   "label": "What MSTR did",
   "value": "+63.9%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "MSTU, what MSTR did: +63.9%, as of Sep 30, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "+130.0%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "MSTU, what 2 times a day gives: +130.0%, as of Sep 30, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+117.0%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "MSTU, what the fund returned: +117.0%, as of Sep 30, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u221213.1 pts",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "MSTU, the fund itself cost: \u221213.1 pts, as of Sep 30, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$815m",
   "source": "issuer page, as of Sep 29, 2026",
   "as_of": "2026-09-30",
   "sentence": "MSTU, net assets: $815m (issuer page, as of Sep 29, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.05%",
   "source": "485BPOS XBRL, Dec 29, 2025",
   "as_of": "2026-09-30",
   "sentence": "MSTU, expense ratio: 1.05% (485BPOS XBRL, Dec 29, 2025)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of MSTR, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+1.83 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "MSTR",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$815m",
   "source": "issuer page, as of Sep 29, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.05%",
   "source": "485BPOS XBRL, Dec 29, 2025"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Sep 18, 2024",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "83% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+21.9%",
   "MSTR": "+15.2%",
   "+2x the move": "+30.3%",
   "Difference": "\u22128.5 pts",
   "MSTR moved about": "100%"
  },
  {
   "window": "3 months",
   "Fund": "+117.0%",
   "MSTR": "+63.9%",
   "+2x the move": "+127.9%",
   "Difference": "\u221210.9 pts",
   "MSTR moved about": "83%"
  },
  {
   "window": "6 months",
   "Fund": "\u22122.1%",
   "MSTR": "+24.7%",
   "+2x the move": "+49.4%",
   "Difference": "\u221251.5 pts",
   "MSTR moved about": "83%"
  },
  {
   "window": "1 year",
   "Fund": "\u221291.4%",
   "MSTR": "\u221252.5%",
   "+2x the move": "\u2212105.0%",
   "Difference": "+13.6 pts",
   "MSTR moved about": "82%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221284.3%",
   "MSTR": "+15.4%",
   "+2x the move": "+30.8%",
   "Difference": "\u2212115.0 pts",
   "MSTR moved about": "86%"
  }
 ],
 "questions": [
  {
   "q": "Did MSTU return +2 times MSTR?",
   "a": "Over the window to Sep 30, 2026, MSTR moved +63.9% and MSTU returned +117.0%. 2 times that move is +127.9%, so the fund came out 10.9 points short of it."
  },
  {
   "q": "Why does MSTU not return +2 times over a year?",
   "a": "Because it resets daily. MSTU 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."
  },
  {
   "q": "Which +2x MSTR ETF tracked its stated multiple most closely?",
   "a": "4 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 figure itself."
  }
 ],
 "generated": "2026-10-01",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}