ADBG vs. MSFX

Last updated Jun 6, 2026

ADBG (Leverage Shares 2X Long ADBE Daily ETF) and MSFX (T-Rex 2X Long Microsoft Daily Target ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, ADBG returned -71.70% vs -33.92% for MSFX. At a 0.40 correlation, their price movements are largely independent. ADBG charges 0.75%/yr vs 1.05%/yr for MSFX.

Performance

ADBG vs. MSFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long ADBE Daily ETF (ADBG) and T-Rex 2X Long Microsoft Daily Target ETF (MSFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADBG achieves a -54.70% return, which is significantly lower than MSFX's -32.03% return.

ADBG

• 1D: -5.32%
• 1M: -1.91%
• YTD: -54.70%
• 6M: -54.25%
• 1Y: -71.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSFX

• 1D: -5.63%
• 1M: -0.38%
• YTD: -32.03%
• 6M: -34.11%
• 1Y: -33.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ADBG vs. MSFX - Yearly Performance Comparison

	2026 (YTD)	2025
ADBG Leverage Shares 2X Long ADBE Daily ETF	-54.70%	-30.89%
MSFX T-Rex 2X Long Microsoft Daily Target ETF	-32.03%	32.12%

Correlation

The correlation between ADBG and MSFX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (All Time) Calculated using the full available price history since Mar 24, 2025	0.40

Return for Risk

ADBG vs. MSFX — Risk / Return Rank

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

ADBG

ADBG Risk / Return Rank: 1
ADBG Sharpe Ratio Rank: 1
ADBG Sortino Ratio Rank: 1
ADBG Omega Ratio Rank: 0
ADBG Calmar Ratio Rank: 1
ADBG Martin Ratio Rank: 2

MSFX

MSFX Risk / Return Rank: 4
MSFX Sharpe Ratio Rank: 4
MSFX Sortino Ratio Rank: 4
MSFX Omega Ratio Rank: 4
MSFX Calmar Ratio Rank: 4
MSFX Martin Ratio Rank: 4

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.

ADBG vs. MSFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ADBE Daily ETF (ADBG) and T-Rex 2X Long Microsoft Daily Target ETF (MSFX). 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.

	ADBG	MSFX	Difference
Sharpe ratio: Return per unit of total volatility	-1.07	-0.67	-0.40
Sortino ratio: Return per unit of downside risk	-1.98	-0.73	-1.25
Omega ratio: Gain probability vs. loss probability	0.77	0.90	-0.14
Calmar ratio: Return relative to maximum drawdown	-0.94	-0.56	-0.38
Martin ratio: Return relative to average drawdown	-1.42	-1.06	-0.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADBG vs. MSFX - Sharpe Ratio Comparison

The current ADBG Sharpe Ratio is -1.07, which is lower than the MSFX Sharpe Ratio of -0.67. The chart below compares the historical Sharpe Ratios of ADBG and MSFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ADBG	MSFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.07	-0.67	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	-0.93	-0.21	-0.72

Drawdowns

ADBG vs. MSFX - Drawdown Comparison

The maximum ADBG drawdown since its inception was -76.71%, which is greater than MSFX's maximum drawdown of -60.86%. Use the drawdown chart below to compare losses from any high point for ADBG and MSFX.

Drawdown Indicators

	ADBG	MSFX	Difference
Max Drawdown Largest peak-to-trough decline	-76.71%	-60.86%	-15.85%
Max Drawdown (1Y) Largest decline over 1 year	-76.23%	-60.86%	-15.37%
Current Drawdown Current decline from peak	-72.49%	-48.55%	-23.94%
Average Drawdown Average peak-to-trough decline	-41.84%	-21.33%	-20.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.52%	32.07%	+18.45%

Volatility

ADBG vs. MSFX - Volatility Comparison

Leverage Shares 2X Long ADBE Daily ETF (ADBG) has a higher volatility of 27.94% compared to T-Rex 2X Long Microsoft Daily Target ETF (MSFX) at 20.40%. This indicates that ADBG's price experiences larger fluctuations and is considered to be riskier than MSFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADBG	MSFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.94%	20.40%	+7.54%
Volatility (6M) Calculated over the trailing 6-month period	56.40%	45.32%	+11.08%
Volatility (1Y) Calculated over the trailing 1-year period	67.29%	50.70%	+16.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.90%	49.38%	+17.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.90%	49.38%	+17.52%

ADBG vs. MSFX - Expense Ratio Comparison

ADBG has a 0.75% expense ratio, which is lower than MSFX's 1.05% expense ratio.

Dividends

ADBG vs. MSFX - Dividend Comparison

ADBG has not paid dividends to shareholders, while MSFX's dividend yield for the trailing twelve months is around 7.86%.

Position	TTM	2025
ADBG Leverage Shares 2X Long ADBE Daily ETF	0.00%	0.00%
MSFX T-Rex 2X Long Microsoft Daily Target ETF	7.86%	5.34%

Frequently Asked Questions

Can I hold both ADBG and MSFX in my portfolio?

ADBG and MSFX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADBG or MSFX?

ADBG has higher volatility (27.94%) compared to MSFX (20.40%). In terms of maximum drawdown, ADBG dropped -76.71% vs MSFX's -60.86%.

Which ETF is better, ADBG or MSFX?

On 1-year performance, MSFX leads with -33.92% vs -71.70% for ADBG. On fees, ADBG is cheaper at 0.75% per year. On volatility, MSFX has been the lower-risk option at 20.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ADBG or MSFX?

Over the 1-year period, MSFX has performed better with a -33.92% return vs -71.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ADBG or MSFX?

ADBG is cheaper with a 0.75% expense ratio, compared with 1.05% for MSFX.

Which ETF pays a higher dividend yield, ADBG or MSFX?

MSFX has the higher dividend yield at 7.86%, compared with 0.00% for ADBG.

What is the main difference between ADBG and MSFX?

They also come from different issuers: Leverage Shares and T-Rex. Their fees differ too: 0.75% for ADBG and 1.05% for MSFX.

Which has better risk-adjusted returns?

MSFX currently has the higher Sharpe Ratio (-0.67 vs -1.07), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.