BULZ vs. DUOG

Last updated Aug 6, 2026

BULZ (MicroSectors FANG & Innovation 3X Leveraged ETNs) and DUOG (Leverage Shares 2X Long DUOL Daily ETF) are both Leveraged Equities funds. BULZ is passively managed, while DUOG is actively managed. Their 0.10 correlation means their historical movements had little consistent relationship. BULZ charges 0.95%/yr vs 0.75%/yr for DUOG.

Performance

BULZ vs. DUOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) and Leverage Shares 2X Long DUOL Daily ETF (DUOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BULZ achieves a 39.01% return, which is significantly higher than DUOG's -55.92% return.

BULZ

• 1D: -4.02%
• 1M: -5.33%
• 6M: 70.78%
• YTD: 39.01%
• 1Y: 98.81%
• 3Y*: 68.12%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.52%

DUOG

• 1D: -2.61%
• 1M: 5.22%
• 6M: 5.42%
• YTD: -55.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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	$31.60M	$29.81M	$42.60M
DUOG Leverage Shares 2X Long DUOL Daily ETF	$402.79K	$350.33K	$687.09K

BULZ vs. DUOG - Yearly Performance Comparison

	2026 (YTD)	2025
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs	39.01%	-9.28%
DUOG Leverage Shares 2X Long DUOL Daily ETF	-55.92%	-25.09%

Correlation

The correlation between BULZ and DUOG is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	0.10

Return for Risk

BULZ vs. DUOG — Risk / Return Rank

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

BULZ

BULZ Risk / Return Rank: 41
BULZ Sharpe Ratio Rank: 40
BULZ Sortino Ratio Rank: 43
BULZ Omega Ratio Rank: 41
BULZ Calmar Ratio Rank: 44
BULZ Martin Ratio Rank: 36

DUOG

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

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. DUOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) and Leverage Shares 2X Long DUOL Daily ETF (DUOG). 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	DUOG	Difference
Sharpe ratio: Return per unit of total volatility	1.14	—	—
Sortino ratio: Return per unit of downside risk	1.81	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	1.80	—	—
Martin ratio: Return relative to average drawdown	4.01	—	—

Drawdowns

BULZ vs. DUOG - Drawdown Comparison

The maximum BULZ drawdown since its inception was -94.44%, which is greater than DUOG's maximum drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for BULZ and DUOG.

Drawdown Indicators

	BULZ	DUOG	Difference
Max Drawdown Largest peak-to-trough decline	-94.44%	-83.13%	-11.31%
Max Drawdown (1Y) Largest decline over 1 year	-55.29%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-67.96%	—	—
Current Drawdown Current decline from peak	-34.51%	-66.98%	+32.47%
Average Drawdown Average peak-to-trough decline	-57.52%	-65.01%	+7.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.73%	—	—

Volatility

Volatility by Period

	BULZ	DUOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	35.29%	—	—
Volatility (6M) Calculated over the trailing 6-month period	71.50%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	86.84%	116.50%	-29.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.35%	116.50%	-24.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.35%	116.50%	-24.15%

BULZ vs. DUOG - Expense Ratio Comparison

BULZ has a 0.95% expense ratio, which is higher than DUOG's 0.75% expense ratio.

Dividends

BULZ vs. DUOG - Dividend Comparison

Neither BULZ nor DUOG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BULZ and DUOG in my portfolio?

BULZ and DUOG have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BULZ or DUOG?

On fees, DUOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BULZ or DUOG?

DUOG is cheaper with a 0.75% expense ratio, compared with 0.95% for BULZ.

Which ETF pays a higher dividend yield, BULZ or DUOG?

BULZ and DUOG have nearly identical dividend yields, around 0.00%.

What is the main difference between BULZ and DUOG?

They also come from different issuers: BMO and Leverage Shares. Their fees differ too: 0.95% for BULZ and 0.75% for DUOG.