AAOX vs. MVLL

Last updated Jun 4, 2026

AAOX (Tradr 2X Long AAOI Daily ETF) and MVLL (GraniteShares 2x Long MRVL Daily ETF) are both Leveraged Equities funds - AAOX tracks the Applied Optoelectronics, Inc. (AAOI) while MVLL tracks the Marvell Technology Inc. (MRVL). Both are passively managed. At a 0.29 correlation, their price movements are largely independent. AAOX charges 1.49%/yr vs 1.50%/yr for MVLL.

Performance

AAOX vs. MVLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long AAOI Daily ETF (AAOX) and GraniteShares 2x Long MRVL Daily ETF (MVLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AAOX

• 1D: -18.15%
• 1M: -7.11%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MVLL

• 1D: 7.14%
• 1M: 201.84%
• YTD: 842.68%
• 6M: 558.01%
• 1Y: 1,215.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AAOX vs. MVLL - Yearly Performance Comparison

	2026 (YTD)
AAOX Tradr 2X Long AAOI Daily ETF	68.69%
MVLL GraniteShares 2x Long MRVL Daily ETF	778.59%

Correlation

The correlation between AAOX and MVLL is 0.29, 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 Mar 25, 2026	0.29

Return for Risk

AAOX vs. MVLL — Risk / Return Rank

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

MVLL

MVLL Risk / Return Rank: 96
MVLL Sharpe Ratio Rank: 99
MVLL Sortino Ratio Rank: 94
MVLL Omega Ratio Rank: 92
MVLL Calmar Ratio Rank: 99
MVLL Martin Ratio Rank: 97

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.

AAOX vs. MVLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long AAOI Daily ETF (AAOX) and GraniteShares 2x Long MRVL Daily ETF (MVLL). 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.

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

Sharpe Ratios by Period

	AAOX	MVLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	9.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.72	3.33	+1.39

Drawdowns

AAOX vs. MVLL - Drawdown Comparison

The maximum AAOX drawdown since its inception was -52.25%, smaller than the maximum MVLL drawdown of -59.02%. Use the drawdown chart below to compare losses from any high point for AAOX and MVLL.

Drawdown Indicators

	AAOX	MVLL	Difference
Max Drawdown Largest peak-to-trough decline	-52.25%	-59.02%	+6.77%
Max Drawdown (1Y) Largest decline over 1 year	—	-48.93%	—
Current Drawdown Current decline from peak	-38.59%	0.00%	-38.59%
Average Drawdown Average peak-to-trough decline	-21.29%	-22.42%	+1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	23.46%	—

Volatility

Volatility by Period

	AAOX	MVLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	60.78%	—
Volatility (6M) Calculated over the trailing 6-month period	—	96.08%	—
Volatility (1Y) Calculated over the trailing 1-year period	293.60%	133.11%	+160.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	293.60%	139.63%	+153.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	293.60%	139.63%	+153.97%

AAOX vs. MVLL - Expense Ratio Comparison

AAOX has a 1.49% expense ratio, which is lower than MVLL's 1.50% expense ratio.

Dividends

AAOX vs. MVLL - Dividend Comparison

Neither AAOX nor MVLL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AAOX and MVLL in my portfolio?

AAOX and MVLL have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AAOX or MVLL?

On fees, AAOX is cheaper at 1.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAOX or MVLL?

AAOX is cheaper with a 1.49% expense ratio, compared with 1.50% for MVLL.

Which ETF pays a higher dividend yield, AAOX or MVLL?

AAOX and MVLL have nearly identical dividend yields, around 0.00%.

What is the main difference between AAOX and MVLL?

AAOX tracks Applied Optoelectronics, Inc. (AAOI), while MVLL tracks Marvell Technology Inc. (MRVL). They also come from different issuers: Tradr and GraniteShares. Their fees differ too: 1.49% for AAOX and 1.50% for MVLL.