CSPI vs. BULZ

Last updated Jun 3, 2026

CSPI (CSP Inc.) is a stock, while BULZ (MicroSectors Solactive FANG & Innovation 3X Leveraged ETN) is Leveraged Equities fund tracking the Solactive FANG Innovation. Over the past 3 years, CSPI returned 16.96%/yr vs 104.75%/yr for BULZ. At a 0.22 correlation, their price movements are largely independent.

Performance

CSPI vs. BULZ - Performance Comparison

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

Returns By Period

In the year-to-date period, CSPI achieves a -22.05% return, which is significantly lower than BULZ's 108.59% return.

CSPI

• 1D: -2.12%
• 1M: 4.08%
• YTD: -22.05%
• 6M: -12.25%
• 1Y: -33.58%
• 3Y*: 16.96%
• 5Y*: 13.37%
• 10Y*: 11.87%

BULZ

• 1D: -1.72%
• 1M: 54.86%
• YTD: 108.59%
• 6M: 97.22%
• 1Y: 285.75%
• 3Y*: 104.75%
• 5Y*: —
• 10Y*: —

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

CSPI vs. BULZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CSPI CSP Inc.	-22.05%	-21.55%	66.06%	108.93%	8.03%	-4.66%
BULZ MicroSectors Solactive FANG & Innovation 3X Leveraged ETN	108.59%	60.09%	54.09%	394.22%	-92.26%	12.62%

Correlation

The correlation between CSPI and BULZ is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (All Time) Calculated using the full available price history since Aug 19, 2021	0.22

Return for Risk

CSPI vs. BULZ — Risk / Return Rank

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

CSPI

CSPI Risk / Return Rank: 14
CSPI Sharpe Ratio Rank: 15
CSPI Sortino Ratio Rank: 16
CSPI Omega Ratio Rank: 17
CSPI Calmar Ratio Rank: 12
CSPI Martin Ratio Rank: 10

BULZ

BULZ Risk / Return Rank: 81
BULZ Sharpe Ratio Rank: 95
BULZ Sortino Ratio Rank: 71
BULZ Omega Ratio Rank: 73
BULZ Calmar Ratio Rank: 89
BULZ Martin Ratio Rank: 75

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.

CSPI vs. BULZ - Risk-Adjusted Trends Comparison

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

	CSPI	BULZ	Difference
Sharpe ratio Return per unit of total volatility	-0.60	3.88	-4.48
Sortino ratio Return per unit of downside risk	-0.64	3.28	-3.92
Omega ratio Gain probability vs. loss probability	0.93	1.44	-0.52
Calmar ratio Return relative to maximum drawdown	-0.77	5.46	-6.22
Martin ratio Return relative to average drawdown	-1.30	14.66	-15.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CSPI vs. BULZ - Sharpe Ratio Comparison

The current CSPI Sharpe Ratio is -0.60, which is lower than the BULZ Sharpe Ratio of 3.88. The chart below compares the historical Sharpe Ratios of CSPI and BULZ, 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

	CSPI	BULZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.60	3.88	-4.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.20	-0.12

Drawdowns

CSPI vs. BULZ - Drawdown Comparison

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

Drawdown Indicators

	CSPI	BULZ	Difference
Max Drawdown Largest peak-to-trough decline	-84.50%	-94.44%	+9.94%
Max Drawdown (1Y) Largest decline over 1 year	-46.62%	-54.22%	+7.60%
Max Drawdown (3Y) Largest decline over 3 years	-71.08%	-67.96%	-3.12%
Max Drawdown (5Y) Largest decline over 5 years	-71.08%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-71.08%	—	—
Current Drawdown Current decline from peak	-64.63%	-1.72%	-62.91%
Average Drawdown Average peak-to-trough decline	-44.42%	-58.47%	+14.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.53%	20.18%	+7.35%

Volatility

CSPI vs. BULZ - Volatility Comparison

The current volatility for CSP Inc. (CSPI) is 10.11%, while MicroSectors Solactive FANG & Innovation 3X Leveraged ETN (BULZ) has a volatility of 21.76%. This indicates that CSPI experiences smaller price fluctuations and is considered to be less risky than BULZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSPI	BULZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.11%	21.76%	-11.65%
Volatility (6M) Calculated over the trailing 6-month period	38.82%	56.70%	-17.88%
Volatility (1Y) Calculated over the trailing 1-year period	55.98%	74.25%	-18.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.52%	91.25%	-24.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.45%	91.25%	-31.80%

Dividends

CSPI vs. BULZ - Dividend Comparison

CSPI's dividend yield for the trailing twelve months is around 1.24%, while BULZ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BULZ MicroSectors Solactive FANG & Innovation 3X Leveraged ETN	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.	1.24%	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 CSPI and BULZ in my portfolio?

CSPI and BULZ have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CSPI or BULZ?

BULZ has higher volatility (21.76%) compared to CSPI (10.11%). In terms of maximum drawdown, CSPI dropped -84.50% vs BULZ's -94.44%.

Which has better risk-adjusted returns?

BULZ currently has the higher Sharpe Ratio (3.88 vs -0.60), 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.