What Is MSTU? T-Rex 2X Long MSTR Daily Target ETF
Short answer
MSTU is a 2x leveraged single-stock ETF from REX Shares and Tuttle Capital (T-Rex brand) that targets 200% of the daily move of Strategy/MicroStrategy (MSTR). Since MSTR is already a leveraged bitcoin proxy, doubling its daily swings makes MSTU extraordinarily volatile. It resets daily and decays over time, so it is intended only as a short-term trading tool, not a long-term hold.
MSTU is issued by REX Shares / Tuttle Capital Management (T-Rex brand) and tracks 2x daily MicroStrategy/Strategy (MSTR). It charges a 1.05% expense ratio, holds approximately ~$257 million in assets under management, yields about 0% (no regular distributions), and launched in September 17, 2024.
What is MSTU?
MSTU is a 2x leveraged single-stock ETF from REX Shares and Tuttle Capital (T-Rex brand) that targets 200% of the daily move of Strategy/MicroStrategy (MSTR). Since MSTR is already a leveraged bitcoin proxy, doubling its daily swings makes MSTU extraordinarily volatile. It resets daily and decays over time, so it is intended only as a short-term trading tool, not a long-term hold.
MSTU is issued by REX Shares / Tuttle Capital Management (T-Rex brand) and tracks 2x daily MicroStrategy/Strategy (MSTR), so a single ticker gives you the whole basket of underlying holdings weighted by the index's methodology rather than by any active stock-picking.
MSTU holdings: what's actually inside
MSTU is weighted toward its largest constituents. As of early 2026, the top holdings are:
| Rank | Ticker | Company | % of MSTU | |
|---|---|---|---|---|
| 1 | MSTR | Strategy (MicroStrategy) | ~200% notional via swaps |
The remaining holdings make up the balance of the fund, with weights tapering off below the top names. Because the index reconstitutes on a rolling basis, the roster stays current without active management. Each ticker above links to its individual stock guide in Walnut.
The bottom line on MSTU
MSTU offers 2x daily long exposure to MSTR, a stock that already trades as a leveraged bitcoin proxy, which puts MSTU among the most volatile ETFs you can buy. Its daily reset causes decay over multi-day holding periods, and the expense ratio is high at about 1.05%. It is built for short-term trading and active monitoring, and it can lose value quickly during choppy or declining markets. Treat it as a high-risk speculative trading instrument, not a long-term investment. Walnut is informational, not investment advice.
More on MSTU
Whether MSTU is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is MSTU a buy?
MSTU yields 0% (no regular distributions) as of early 2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see MSTU dividend: yield and schedule.
Build a portfolio around MSTU with Walnut
Use MSTU as your core holding, then let Walnut's AI propose thematic satellites: AI infrastructure, dividend growth, clean energy, whatever you believe in. Connect your broker, build the basket in conversation, track it as one unit.
FAQ
What is MSTU?
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MSTU is the T-Rex 2X Long MSTR Daily Target ETF, a leveraged single-stock fund issued by REX Shares with Tuttle Capital Management under the T-Rex brand. It seeks to deliver 200% of the daily price move of Strategy (formerly MicroStrategy, ticker MSTR), mainly through swap agreements. It launched on September 17, 2024.
What is MSTU's expense ratio?
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MSTU has a total expense ratio of about 1.05% as of early 2026. That is high compared with broad index ETFs, which often charge under 0.10%. The cost reflects the actively managed, swap-based leveraged structure, and it is a drag that compounds the longer you hold the fund.
What does MSTU track?
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MSTU targets 200% of the daily performance of a single stock, Strategy (formerly MicroStrategy, ticker MSTR). It does not track an index. It uses swap agreements to gain roughly 200% notional exposure to MSTR, and its leverage objective resets at the end of each trading day.
Should I hold MSTU long term?
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No. MSTU is built as a short-term trading tool, not a long-term holding. Because it resets its 2x target every day, multi-day returns are subject to compounding and daily-reset decay that can erode value even if MSTR ends up roughly flat over time. Combined with extreme volatility and a high expense ratio, holding it for weeks or months can produce large losses. Walnut is informational, not investment advice.
Why is MSTU so volatile?
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MSTR is already one of the most volatile large stocks because the company holds a large bitcoin treasury and uses leverage, so it trades like a leveraged proxy for bitcoin. MSTU then adds 2x daily exposure on top of that, doubling already enormous swings. The result is that MSTU is among the most volatile ETFs in existence and can move sharply within a single session.
Is MSTU a good investment?
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MSTU is a high-risk speculative trading instrument, not a typical investment. It can deliver large gains or large losses very quickly, it decays over multi-day holds, and it carries a high expense ratio near 1.05%. It may suit experienced traders making short-term directional bets who monitor positions closely, but it is unsuitable for most long-term investors. Walnut is informational, not investment advice.
Is there an inverse version of MSTU?
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Yes. REX Shares and Tuttle Capital launched MSTZ, the T-Rex 2X Inverse MSTR Daily Target ETF, alongside MSTU. MSTZ seeks 200% of the inverse (opposite) of MSTR's daily move, so it is designed to rise when MSTR falls. Like MSTU, MSTZ resets daily, decays over multi-day holds, and is intended only for short-term trading.
How do I compare MSTU to similar ETFs?
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Put a few fields side by side: the expense ratio (fees compound over decades), the index or strategy it tracks, the top holdings and how much they overlap with what you already own, the dividend yield, and the AUM, liquidity, and bid-ask spread that affect trading costs. For index funds, tracking error (how closely it follows its index) and tax efficiency matter too. MSTU's figures are above; the full method is in Walnut's guide on how to compare ETFs.
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Walnut is informational, not investment advice. Holdings weights and fund statistics on this page are approximations stamped to early 2026; verify current figures against REX Shares / Tuttle Capital Management (T-Rex brand)'s fund page or your broker before investing.