BULZ vs. CSPI

Last updated Aug 4, 2026

BULZ (MicroSectors FANG & Innovation 3X Leveraged ETNs) is Leveraged Equities fund tracking the Solactive FANG Innovation Index (300%), while CSPI (CSP Inc.) is a stock. Over the past 3 years, BULZ returned 62.45%/yr vs 8.67%/yr for CSPI. Their 0.21 correlation means their historical movements had little consistent relationship.

Performance

BULZ vs. CSPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) and CSP Inc. (CSPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BULZ achieves a 25.41% return, which is significantly higher than CSPI's -34.21% return.

BULZ

• 1D: 10.00%
• 1M: -9.61%
• 6M: 24.24%
• YTD: 25.41%
• 1Y: 91.64%
• 3Y*: 62.45%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.31%

CSPI

• 1D: 3.29%
• 1M: -0.73%
• 6M: -29.35%
• YTD: -34.21%
• 1Y: -18.51%
• 3Y*: 8.67%
• 5Y*: 10.69%
• 10Y*: 9.10%
• ALL TIME*: 3.97%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs	$25.71M	$28.40M	$43.12M
CSPI CSP Inc.	$107.54K	$113.39K	$299.11K

BULZ vs. CSPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs	25.41%	60.09%	54.09%	394.22%	-92.26%	9.17%
CSPI CSP Inc.	-34.21%	-21.55%	66.06%	108.93%	8.03%	-1.01%

Correlation

The correlation between BULZ and CSPI is 0.23, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.23
Correlation (3Y) Balances recent behavior with more history.	0.25
Correlation (All Time) Calculated using the full available price history since Aug 18, 2021	0.21

Return for Risk

BULZ vs. CSPI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BULZ

BULZ Risk / Return Rank: 43
BULZ Sharpe Ratio Rank: 43
BULZ Sortino Ratio Rank: 47
BULZ Omega Ratio Rank: 45
BULZ Calmar Ratio Rank: 45
BULZ Martin Ratio Rank: 36

CSPI

CSPI Risk / Return Rank: 29
CSPI Sharpe Ratio Rank: 28
CSPI Sortino Ratio Rank: 28
CSPI Omega Ratio Rank: 29
CSPI Calmar Ratio Rank: 30
CSPI Martin Ratio Rank: 32

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BULZ vs. CSPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) and CSP Inc. (CSPI). 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.

	BULZ	CSPI	Difference
Sharpe ratio: Return per unit of total volatility	1.08	-0.35	+1.42
Sortino ratio: Return per unit of downside risk	1.73	-0.16	+1.89
Omega ratio: Gain probability vs. loss probability	1.22	0.98	+0.23
Calmar ratio: Return relative to maximum drawdown	1.67	-0.39	+2.06
Martin ratio: Return relative to average drawdown	3.75	-0.62	+4.37

BULZ vs. CSPI - Sharpe Ratio Comparison

The current BULZ Sharpe Ratio is 1.08, which is higher than the CSPI Sharpe Ratio of -0.35. The chart below compares the historical Sharpe Ratios of BULZ and CSPI, 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

BULZ vs. CSPI - Drawdown Comparison

The maximum BULZ drawdown since its inception was -94.44%, which is greater than CSPI's maximum drawdown of -84.50%. Use the drawdown chart below to compare losses from any high point for BULZ and CSPI.

Drawdown Indicators

	BULZ	CSPI	Difference
Max Drawdown Largest peak-to-trough decline	-94.44%	-84.50%	-9.94%
Max Drawdown (1Y) Largest decline over 1 year	-55.29%	-47.19%	-8.10%
Max Drawdown (3Y) Largest decline over 3 years	-67.96%	-71.39%	+3.43%
Max Drawdown (5Y) Largest decline over 5 years	—	-71.39%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-71.39%	—
Current Drawdown Current decline from peak	-40.91%	-70.15%	+29.24%
Average Drawdown Average peak-to-trough decline	-57.56%	-44.53%	-13.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.55%	29.92%	-5.37%

Volatility

BULZ vs. CSPI - Volatility Comparison

MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) has a higher volatility of 32.71% compared to CSP Inc. (CSPI) at 10.01%. This indicates that BULZ's price experiences larger fluctuations and is considered to be riskier than CSPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BULZ	CSPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.71%	10.01%	+22.70%
Volatility (6M) Calculated over the trailing 6-month period	70.17%	36.63%	+33.54%
Volatility (1Y) Calculated over the trailing 1-year period	85.84%	53.39%	+32.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.15%	66.75%	+25.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.15%	59.66%	+32.49%

Dividends

BULZ vs. CSPI - Dividend Comparison

BULZ has not paid dividends to shareholders, while CSPI's dividend yield for the trailing twelve months is around 1.47%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CSPI CSP Inc.	1.47%	0.96%	0.72%	0.77%	0.64%	0.00%	1.94%	5.75%	3.77%	3.48%	3.12%	6.34%

Frequently Asked Questions

Can I hold both BULZ and CSPI in my portfolio?

BULZ and CSPI have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BULZ or CSPI?

BULZ has higher volatility (32.71%) compared to CSPI (10.01%). In terms of maximum drawdown, BULZ dropped -94.44% vs CSPI's -84.50%.

Which has better risk-adjusted returns?

BULZ currently has the higher Sharpe Ratio (1.08 vs -0.35), 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.