The T-REX 2X Inverse MSTR Daily Target ETF seeks daily investment results, before fees and expenses, of -200% (2x inverse) of the daily performance of MicroStrategy Incorporated (MSTR). The fund is an actively managed exchange-traded fund designed to deliver twice the inverse daily percentage change of MSTR’s stock price.

MicroStrategy Incorporated is a leading business intelligence and analytics company that provides enterprise software solutions for data visualization, analytics, and reporting. Over recent years, MSTR has gained additional market attention due to its substantial Bitcoin holdings, making the stock sensitive not only to company fundamentals but also to cryptocurrency market trends. The company benefits from long-term enterprise software contracts and an established presence in analytics platforms, but its exposure to Bitcoin adds volatility that can sharply influence short-term price movements.

Traders looking to capitalize on short-term downward movements in MSTR shares can use the T-REX 2X Inverse MSTR ETF as a leveraged tool to express a bearish view.

The ETF has a focused and leveraged objective:

• To seek daily investment results, before fees and expenses, corresponding to two times the inverse (-2x) of the daily performance of MicroStrategy Incorporated.

This ETF is not intended for long-term investors. It is a specialized, high-risk instrument designed for experienced traders who understand leverage and actively manage positions.

Intended Uses

1. Leveraged Bearish Exposure: Traders with short-term conviction that MSTR stock will decline—due to Bitcoin volatility, software performance concerns, or earnings reports—may use this ETF to amplify potential gains on downward moves.
2. Event-Driven Trading: The ETF can be used around key catalysts such as MSTR earnings releases, corporate announcements, or shifts in the cryptocurrency market that could trigger sharp declines in the stock.
3. Tactical Portfolio Allocation: Active traders may use T-REX to temporarily increase inverse exposure to MSTR without taking on a traditional short position, managing risk in a controlled manner.

Key Considerations and Risks

• Compounding Risk: T-REX resets leverage daily. Over periods longer than one trading day, performance may differ significantly from -2x the cumulative return of MSTR stock, particularly in volatile markets.
• High Volatility: MSTR’s price swings, amplified by both stock performance and cryptocurrency exposure, can make this ETF highly volatile, increasing both potential gains and losses.
• Company-Specific Risk: Factors such as enterprise software performance, corporate governance, and Bitcoin holdings can materially impact returns.
• Market and Sector Sensitivity: MSTR is influenced by broader tech and cryptocurrency market conditions, macroeconomic trends, and investor sentiment, which can affect ETF performance.
• Higher Costs: Leveraged ETFs generally carry higher expense ratios than traditional ETFs, potentially reducing returns if held over extended periods.

Technical Price Chart

Conclusion

The T-REX 2X Inverse MSTR Daily Target ETF is a tactical instrument for traders seeking to capitalize on short-term bearish movements in MicroStrategy Incorporated. By offering twice the inverse daily exposure, it allows investors to amplify gains when MSTR declines.

However, due to daily leverage resets, amplified volatility, and cryptocurrency-linked risks, T-REX carries significant risk. It requires active monitoring, disciplined execution, and a clear short-term strategy, making it more suitable for experienced traders rather than long-term investors.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: Reference data for price, technical indicators, support, and resistance levels is as of April 2 , 2026 and partly sourced from REFINITIV.
Note 3: Investment decisions should consider an individual’s risk appetite, upside potential, holding period, and prior holdings.
Note 4: Kalkine reports are based on prices captured from NASDAQ, NYSE, and/or REFINITIV, which may have a 15-20 minute lag. Future results may not be consistent with this report, and information is subject to change without notice.