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MSFX

GradeCChicago Board Options Exchange

T-Rex 2X Long Microsoft Daily Target ETF

Leveraged · Single-Stock Leveraged · Rexshares · Inception 2024-01-11 · SEC filings

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$24.89+0.11 (+0.44%)

As of Sep 23, 2026, 2:12 PM EDT

History starts Jan 11, 2024.
Intraday session: up, 31 prints from 24.78 to 24.89. Range 24.57 to 25.80. Use the arrow keys to read each point.$24.50$25.5010 AM12 PM2 PM4 PM
Expense ratio
1.05%
Fund size
$19M
1Y return
−24.6%
Yield · Last 12 months
Data unavailable
Holdings
5
Volume · 30D
0.2M sh
NAV per share
$25.12
52W range
low $12.90high $39.37

The ETF.net MSFX Grade

C

48/ 100

Rank 86 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for MSFX. Scores out of 100: Cost 43, Risk 52, Mission 72, Tradability 48, Holdings not scored, Durability 68. Strongest: Mission (72). Weakest: Cost (43). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 48 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 43
    Category rank216/380 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 72
    Category rank137/147 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 52
    Category rank116/285 · top 41%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 48
    Category rank187/380 · top 49%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 68
    Category rank71/380 · top 19%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on MSFX

ETF.net Research

COne job, done at double speed: MSFX aims for about twice Microsoft's daily move, then resets the clock every night. A 2024 T-Rex launch for traders who want geared MSFT in a plain brokerage account, measured in days rather than years.

Stated mandate

The Fund seeks to deliver approximately twice the daily performance of Microsoft Corp.'s publicly traded common stock, before fees and expenses. Results over periods longer than one trading day may differ because of daily compounding.

Why people hold it

  1. 01The mandate fits on a napkin: roughly twice Microsoft's daily move, before fees. No stock picking, no options overlay, no manager discretion.
  2. 02Since its January 2024 launch it has stayed close to that daily target, which puts it in the upper half of a crowded bullish single-stock leveraged field.
  3. 03Geared exposure inside a 1940 Act fund: no margin account, no borrowing, no margin call on the position, and it trades like any other ETF ticket.

Worth knowing

  1. 01Daily reset means compounding. Hold longer than a day and results can drift from twice Microsoft's move over that stretch, with choppy tape widening the gap.
  2. 02The ride runs 1.05% a year, a notch above the peer midpoint and above the cheapest 2x single-stock lineups such as ASMG and AMDG.
  3. 03One company, doubled. A Microsoft earnings gap or headline lands here at twice the force, with no other holdings to soften it.

MSFX Holdings

As of Sep 20, 2026, 9:04 AM
Asset class
Stocks
Holdings
5
Top-10 weight
504%
Largest holding
RECV MSFX TRS MSFT EQ498.2%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—RECV MSFX TRS MSFT EQ498.17%74,545$37M1
002—CASH AND CASH EQUIVALENTS6.23%464,354$464K120

Showing 1–2 of 2 holdings

MSFX Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

MSFX$7,539
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. MSFX $7,539. SPY $11,723. Use the arrow keys to read each point.$3,386$7,884$12,382Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for MSFX. Periods over one year show the average yearly return.
PeriodMSFX
Year to date−9.4%
1 month+5.0%
3 months+73.0%
1 year−24.6%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MSFX
YearReturn barMSFX
2026 YTD−9.4%
2025+9.8%
2024+3.8%

Since listing, Jan 11, 2024

MSFX in the news

ETF.net Research hasn’t filed on MSFX yet — coverage lands here as it’s written.

MSFX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$1.46 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 24, 2025 $1.46. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$1.46

MSFX Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
59.7%
Annualised · 31 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.21
vs 3-month T-bills · 31 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−63.6%
32 months · trough Jun 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
2.70
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

MSFX Cost

Expense ratio1.05%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

208 of the 329 Single-Stock Long Leveraged funds charge less.

MSFX costs $105.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.