ARMG vs. RXL

Last updated Jul 17, 2026

ARMG (Leverage Shares 2X Long ARM Daily ETF) and RXL (ProShares Ultra Health Care) are both Leveraged Equities funds. ARMG is actively managed, while RXL is passively managed. Over the past year, ARMG returned 53.96% vs 38.50% for RXL. At a 0.13 correlation, their price movements are largely independent. ARMG charges 0.75%/yr vs 0.95%/yr for RXL.

Performance

ARMG vs. RXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long ARM Daily ETF (ARMG) and ProShares Ultra Health Care (RXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARMG achieves a 261.05% return, which is significantly higher than RXL's 6.32% return.

ARMG

• 1D: -11.02%
• 1M: -59.69%
• 6M: 294.25%
• YTD: 261.05%
• 1Y: 53.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RXL

• 1D: 4.51%
• 1M: 11.82%
• 6M: 3.66%
• YTD: 6.32%
• 1Y: 38.50%
• 3Y*: 9.53%
• 5Y*: 3.37%
• 10Y*: 12.96%

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

ARMG vs. RXL - Yearly Performance Comparison

	2026 (YTD)	2025
ARMG Leverage Shares 2X Long ARM Daily ETF	261.05%	-62.65%
RXL ProShares Ultra Health Care	6.32%	13.36%

Correlation

The correlation between ARMG and RXL is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	0.13

The correlation between ARMG and RXL shifts across timeframes, from 0.03 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ARMG vs. RXL — Risk / Return Rank

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

ARMG

ARMG Risk / Return Rank: 26
ARMG Sharpe Ratio Rank: 16
ARMG Sortino Ratio Rank: 37
ARMG Omega Ratio Rank: 36
ARMG Calmar Ratio Rank: 21
ARMG Martin Ratio Rank: 17

RXL

RXL Risk / Return Rank: 41
RXL Sharpe Ratio Rank: 41
RXL Sortino Ratio Rank: 47
RXL Omega Ratio Rank: 39
RXL Calmar Ratio Rank: 43
RXL Martin Ratio Rank: 34

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.

ARMG vs. RXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ARM Daily ETF (ARMG) and ProShares Ultra Health Care (RXL). 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.

	ARMG	RXL	Difference
Sharpe ratio: Return per unit of total volatility	0.37	1.21	-0.84
Sortino ratio: Return per unit of downside risk	1.64	1.94	-0.30
Omega ratio: Gain probability vs. loss probability	1.20	1.22	-0.02
Calmar ratio: Return relative to maximum drawdown	0.80	1.81	-1.02
Martin ratio: Return relative to average drawdown	1.34	4.15	-2.81

ARMG vs. RXL - Sharpe Ratio Comparison

The current ARMG Sharpe Ratio is 0.37, which is lower than the RXL Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of ARMG and RXL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ARMG vs. RXL - Drawdown Comparison

The maximum ARMG drawdown since its inception was -80.28%, which is greater than RXL's maximum drawdown of -67.70%. Use the drawdown chart below to compare losses from any high point for ARMG and RXL.

Drawdown Indicators

	ARMG	RXL	Difference
Max Drawdown Largest peak-to-trough decline	-80.28%	-67.70%	-12.58%
Max Drawdown (1Y) Largest decline over 1 year	-68.13%	-21.33%	-46.80%
Max Drawdown (3Y) Largest decline over 3 years	—	-36.08%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.08%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.00%	—
Current Drawdown Current decline from peak	-67.07%	-3.42%	-63.65%
Average Drawdown Average peak-to-trough decline	-51.68%	-15.81%	-35.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.41%	9.31%	+31.10%

Volatility

ARMG vs. RXL - Volatility Comparison

Leverage Shares 2X Long ARM Daily ETF (ARMG) has a higher volatility of 48.04% compared to ProShares Ultra Health Care (RXL) at 12.75%. This indicates that ARMG's price experiences larger fluctuations and is considered to be riskier than RXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARMG	RXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	48.04%	12.75%	+35.29%
Volatility (6M) Calculated over the trailing 6-month period	124.01%	23.82%	+100.19%
Volatility (1Y) Calculated over the trailing 1-year period	145.63%	32.01%	+113.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	144.48%	30.20%	+114.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.48%	33.40%	+111.08%

ARMG vs. RXL - Expense Ratio Comparison

ARMG has a 0.75% expense ratio, which is lower than RXL's 0.95% expense ratio.

Dividends

ARMG vs. RXL - Dividend Comparison

ARMG's dividend yield for the trailing twelve months is around 1.35%, more than RXL's 1.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARMG Leverage Shares 2X Long ARM Daily ETF	1.35%	4.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RXL ProShares Ultra Health Care	1.29%	1.43%	1.22%	0.18%	0.32%	0.10%	0.15%	0.27%	0.32%	0.11%	0.12%	0.93%

Frequently Asked Questions

Can I hold both ARMG and RXL in my portfolio?

ARMG and RXL have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARMG or RXL?

ARMG has higher volatility (48.04%) compared to RXL (12.75%). In terms of maximum drawdown, ARMG dropped -80.28% vs RXL's -67.70%.

Which ETF is better, ARMG or RXL?

On 1-year performance, ARMG leads with 53.96% vs 38.50% for RXL. On fees, ARMG is cheaper at 0.75% per year. On volatility, RXL has been the lower-risk option at 12.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARMG or RXL?

Over the 1-year period, ARMG has performed better with a 53.96% return vs 38.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARMG or RXL?

ARMG is cheaper with a 0.75% expense ratio, compared with 0.95% for RXL.

Which ETF pays a higher dividend yield, ARMG or RXL?

ARMG has the higher dividend yield at 1.35%, compared with 1.29% for RXL.

What is the main difference between ARMG and RXL?

They also come from different issuers: Leverage Shares and ProShares. Their fees differ too: 0.75% for ARMG and 0.95% for RXL.

Which has better risk-adjusted returns?

RXL currently has the higher Sharpe Ratio (1.21 vs 0.37), 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.