BERZ vs. BULZ
BERZ (MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN) and BULZ (MicroSectors FANG & Innovation 3X Leveraged ETNs) are both exchange-traded funds - BERZ is a Inverse Equities fund tracking the Solactive FANG Innovation Index, while BULZ is a Leveraged Equities fund tracking the Solactive FANG Innovation Index (300%). Both are passively managed. Over the past 3 years, BERZ returned -71.80%/yr vs 52.57%/yr for BULZ. Their -1.00 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
BERZ vs. BULZ - Performance Comparison
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Returns By Period
In the year-to-date period, BERZ achieves a -51.36% return, which is significantly lower than BULZ's 14.01% return.
BERZ
- 1D
- -2.06%
- 1M
- 9.10%
- 6M
- -50.40%
- YTD
- -51.36%
- 1Y
- -76.10%
- 3Y*
- -71.80%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -64.98%
BULZ
- 1D
- 1.93%
- 1M
- -17.83%
- 6M
- 15.82%
- YTD
- 14.01%
- 1Y
- 74.21%
- 3Y*
- 52.57%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.17M | $1.82M | $2.17M | |
| $23.90M | $29.65M | $44.16M |
BERZ vs. BULZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN | -51.36% | -78.81% | -65.95% | -89.12% | 102.85% | -28.36% |
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs | 14.01% | 60.09% | 54.09% | 394.22% | -92.26% | 9.17% |
Correlation
The correlation between BERZ and BULZ is -1.00, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -1.00 |
Correlation (3Y) Balances recent behavior with more history. | -1.00 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2021 | -1.00 |
The correlation between BERZ and BULZ has been stable across timeframes, ranging from -1.00 to -1.00 - a consistent structural relationship.
BERZ vs. BULZ - Sectors Allocation Comparison
Sectors
BERZ
BULZ
Technology
Communication Services
Consumer Cyclical
Financial Services
Basic Materials
-
-
Consumer Defensive
-
-
Energy
-
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Utilities
-
-
Technology
BERZ
BULZ
Communication Services
BERZ
BULZ
Consumer Cyclical
BERZ
BULZ
Financial Services
BERZ
BULZ
Basic Materials
BERZ
-
BULZ
-
Consumer Defensive
BERZ
-
BULZ
-
Energy
BERZ
-
BULZ
-
Healthcare
BERZ
-
BULZ
-
Industrials
BERZ
-
BULZ
-
Real Estate
BERZ
-
BULZ
-
Utilities
BERZ
-
BULZ
-
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Return for Risk
BERZ vs. BULZ — Risk / Return Rank
BERZ
BULZ
BERZ vs. BULZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) and MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ). 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.
| BERZ | BULZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.52 | ||
| Sortino ratioReturn per unit of downside risk | -2.90 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.17 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 1.04 | -1.93 |
| Martin ratioReturn relative to average drawdown | -1.32 | 2.36 | -3.68 |
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Drawdowns
BERZ vs. BULZ - Drawdown Comparison
The maximum BERZ drawdown since its inception was -99.80%, which is greater than BULZ's maximum drawdown of -94.44%. Use the drawdown chart below to compare losses from any high point for BERZ and BULZ.
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Drawdown Indicators
| BERZ | BULZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -94.44% | -5.36% |
Max Drawdown (1Y)Largest decline over 1 year | -83.72% | -55.29% | -28.43% |
Max Drawdown (3Y)Largest decline over 3 years | -98.87% | -67.96% | -30.91% |
Current DrawdownCurrent decline from peak | -99.71% | -46.29% | -53.42% |
Average DrawdownAverage peak-to-trough decline | -72.42% | -57.57% | -14.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.70% | 24.42% | +31.28% |
Volatility
BERZ vs. BULZ - Volatility Comparison
MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) has a higher volatility of 33.28% compared to MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) at 31.48%. This indicates that BERZ's price experiences larger fluctuations and is considered to be riskier than BULZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BERZ | BULZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.28% | 31.48% | +1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 70.82% | 70.05% | +0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.12% | 85.72% | +1.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 93.03% | 92.08% | +0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 93.03% | 92.08% | +0.95% |
BERZ vs. BULZ - Expense Ratio Comparison
Both BERZ and BULZ have an expense ratio of 0.95%.
Dividends
BERZ vs. BULZ - Dividend Comparison
Neither BERZ nor BULZ has paid dividends to shareholders.
Frequently Asked Questions
BERZ and BULZ have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BERZ has higher volatility (33.28%) compared to BULZ (31.48%). In terms of maximum drawdown, BERZ dropped -99.80% vs BULZ's -94.44%.
On 3-year performance, BULZ leads with 52.57% vs -71.80% for BERZ. Both ETFs have the same 0.95% expense ratio. On volatility, BULZ has been the lower-risk option at 31.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BULZ has performed better with a 52.57% return vs -71.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BERZ and BULZ have the same expense ratio: 0.95% per year.
BERZ and BULZ have nearly identical dividend yields, around 0.00%.
BERZ is categorized as Inverse Equities, while BULZ is Leveraged Equities. BERZ tracks Solactive FANG Innovation Index, while BULZ tracks Solactive FANG Innovation Index (300%).
BULZ currently has the higher Sharpe Ratio (0.67 vs -0.85), 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.
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