AALG vs. BEX

Last updated Jul 17, 2026

AALG (Leverage Shares 2X Long AAL Daily ETF) and BEX (Tradr 2X Long BE Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.28 correlation, their price movements are largely independent. AALG charges 0.78%/yr vs 1.30%/yr for BEX.

Performance

AALG vs. BEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long AAL Daily ETF (AALG) and Tradr 2X Long BE Daily ETF (BEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AALG

• 1D: -0.42%
• 1M: -3.68%
• 6M: -17.57%
• YTD: -14.63%
• 1Y: 14.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BEX

• 1D: -27.34%
• 1M: -54.38%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AALG vs. BEX - Yearly Performance Comparison

	2026 (YTD)
AALG Leverage Shares 2X Long AAL Daily ETF	20.72%
BEX Tradr 2X Long BE Daily ETF	-65.64%

Correlation

The correlation between AALG and BEX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 26, 2026	0.28

Return for Risk

AALG vs. BEX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AALG

AALG Risk / Return Rank: 15
AALG Sharpe Ratio Rank: 12
AALG Sortino Ratio Rank: 21
AALG Omega Ratio Rank: 19
AALG Calmar Ratio Rank: 12
AALG Martin Ratio Rank: 12

BEX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AALG vs. BEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long AAL Daily ETF (AALG) and Tradr 2X Long BE Daily ETF (BEX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AALG	BEX	Difference
Sharpe ratio: Return per unit of total volatility	0.15	—	—
Sortino ratio: Return per unit of downside risk	0.95	—	—
Omega ratio: Gain probability vs. loss probability	1.11	—	—
Calmar ratio: Return relative to maximum drawdown	0.23	—	—
Martin ratio: Return relative to average drawdown	0.47	—	—

Drawdowns

AALG vs. BEX - Drawdown Comparison

The maximum AALG drawdown since its inception was -64.19%, smaller than the maximum BEX drawdown of -69.03%. Use the drawdown chart below to compare losses from any high point for AALG and BEX.

Drawdown Indicators

	AALG	BEX	Difference
Max Drawdown Largest peak-to-trough decline	-64.19%	-69.03%	+4.84%
Max Drawdown (1Y) Largest decline over 1 year	-64.19%	—	—
Current Drawdown Current decline from peak	-27.08%	-69.03%	+41.95%
Average Drawdown Average peak-to-trough decline	-24.63%	-31.93%	+7.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.31%	—	—

Volatility

Volatility by Period

	AALG	BEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.61%	—	—
Volatility (6M) Calculated over the trailing 6-month period	72.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	96.14%	227.40%	-131.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.75%	227.40%	-131.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.75%	227.40%	-131.65%

AALG vs. BEX - Expense Ratio Comparison

AALG has a 0.78% expense ratio, which is lower than BEX's 1.30% expense ratio.

Dividends

AALG vs. BEX - Dividend Comparison

AALG's dividend yield for the trailing twelve months is around 1.82%, while BEX has not paid dividends to shareholders.

Position	TTM	2025
AALG Leverage Shares 2X Long AAL Daily ETF	1.82%	1.56%
BEX Tradr 2X Long BE Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both AALG and BEX in my portfolio?

AALG and BEX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AALG or BEX?

On fees, AALG is cheaper at 0.78% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AALG or BEX?

AALG is cheaper with a 0.78% expense ratio, compared with 1.30% for BEX.

Which ETF pays a higher dividend yield, AALG or BEX?

AALG has the higher dividend yield at 1.82%, compared with 0.00% for BEX.

What is the main difference between AALG and BEX?

They also come from different issuers: Leverage Shares and Tradr. Their fees differ too: 0.78% for AALG and 1.30% for BEX.