EDZ vs. MVLL

Last updated Jun 25, 2026

EDZ (Direxion Daily Emerging Markets Bear 3X Shares) and MVLL (GraniteShares 2x Long MRVL Daily ETF) are both Leveraged Equities funds - EDZ tracks the MSCI Emerging Markets Index (-300%) while MVLL tracks the Marvell Technology Inc. (MRVL). Both are passively managed. Over the past year, EDZ returned -70.82% vs 589.78% for MVLL. At a correlation of -0.51, they often move in opposite directions. EDZ charges 1.08%/yr vs 1.50%/yr for MVLL.

Performance

EDZ vs. MVLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Emerging Markets Bear 3X Shares (EDZ) and GraniteShares 2x Long MRVL Daily ETF (MVLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDZ achieves a -55.99% return, which is significantly lower than MVLL's 595.97% return.

EDZ

• 1D: -0.26%
• 1M: -13.80%
• YTD: -55.99%
• 6M: -56.70%
• 1Y: -70.82%
• 3Y*: -48.07%
• 5Y*: -24.79%
• 10Y*: -36.90%

MVLL

• 1D: -2.00%
• 1M: 60.63%
• YTD: 595.97%
• 6M: 570.87%
• 1Y: 589.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EDZ vs. MVLL - Yearly Performance Comparison

	2026 (YTD)	2025
EDZ Direxion Daily Emerging Markets Bear 3X Shares	-55.99%	-52.30%
MVLL GraniteShares 2x Long MRVL Daily ETF	595.97%	-8.44%

Correlation

The correlation between EDZ and MVLL is -0.50, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.50
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025	-0.51

The correlation between EDZ and MVLL has been stable across timeframes, ranging from -0.51 to -0.50 - a consistent structural relationship.

EDZ vs. MVLL - Sectors Allocation Comparison

Sectors	EDZ	MVLL
Financial Services	26.2%	-
Industrials	19.7%	-
Technology	14.6%	66.6%
Consumer Cyclical	8.0%	-
Utilities	7.2%	-
Consumer Defensive	6.0%	-
Healthcare	5.9%	-
Energy	3.9%	-
Basic Materials	3.7%	-
Communication Services	3.4%	-
Real Estate	1.4%	-

Return for Risk

EDZ vs. MVLL — Risk / Return Rank

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

EDZ

EDZ Risk / Return Rank: 1
EDZ Sharpe Ratio Rank: 1
EDZ Sortino Ratio Rank: 0
EDZ Omega Ratio Rank: 0
EDZ Calmar Ratio Rank: 1
EDZ Martin Ratio Rank: 1

MVLL

MVLL Risk / Return Rank: 93
MVLL Sharpe Ratio Rank: 97
MVLL Sortino Ratio Rank: 87
MVLL Omega Ratio Rank: 87
MVLL Calmar Ratio Rank: 98
MVLL Martin Ratio Rank: 95

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.

EDZ vs. MVLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Emerging Markets Bear 3X Shares (EDZ) and GraniteShares 2x Long MRVL Daily ETF (MVLL). 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.

	EDZ	MVLL	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	4.12	-5.17
Sortino ratio: Return per unit of downside risk	-2.06	3.48	-5.54
Omega ratio: Gain probability vs. loss probability	0.76	1.48	-0.72
Calmar ratio: Return relative to maximum drawdown	-0.95	12.16	-13.11
Martin ratio: Return relative to average drawdown	-1.67	24.48	-26.16

EDZ vs. MVLL - Sharpe Ratio Comparison

The current EDZ Sharpe Ratio is -1.05, which is lower than the MVLL Sharpe Ratio of 4.12. The chart below compares the historical Sharpe Ratios of EDZ and MVLL, 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

EDZ vs. MVLL - Drawdown Comparison

The maximum EDZ drawdown since its inception was -99.99%, which is greater than MVLL's maximum drawdown of -59.02%. Use the drawdown chart below to compare losses from any high point for EDZ and MVLL.

Drawdown Indicators

	EDZ	MVLL	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-59.02%	-40.97%
Max Drawdown (1Y) Largest decline over 1 year	-74.99%	-48.93%	-26.06%
Max Drawdown (3Y) Largest decline over 3 years	-90.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-92.91%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.17%	—	—
Current Drawdown Current decline from peak	-99.99%	-32.58%	-67.41%
Average Drawdown Average peak-to-trough decline	-97.73%	-22.43%	-75.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.30%	24.26%	+18.04%

Volatility

EDZ vs. MVLL - Volatility Comparison

The current volatility for Direxion Daily Emerging Markets Bear 3X Shares (EDZ) is 37.01%, while GraniteShares 2x Long MRVL Daily ETF (MVLL) has a volatility of 87.12%. This indicates that EDZ experiences smaller price fluctuations and is considered to be less risky than MVLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDZ	MVLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	37.01%	87.12%	-50.11%
Volatility (6M) Calculated over the trailing 6-month period	61.17%	113.24%	-52.07%
Volatility (1Y) Calculated over the trailing 1-year period	67.97%	144.98%	-77.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.92%	147.05%	-88.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.50%	147.05%	-85.55%

EDZ vs. MVLL - Expense Ratio Comparison

EDZ has a 1.08% expense ratio, which is lower than MVLL's 1.50% expense ratio.

Dividends

EDZ vs. MVLL - Dividend Comparison

EDZ's dividend yield for the trailing twelve months is around 7.60%, while MVLL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EDZ Direxion Daily Emerging Markets Bear 3X Shares	7.60%	6.58%	4.87%	4.34%	0.00%	0.00%	0.82%	1.67%	0.68%
MVLL GraniteShares 2x Long MRVL Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EDZ and MVLL in my portfolio?

EDZ and MVLL have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EDZ or MVLL?

MVLL has higher volatility (87.12%) compared to EDZ (37.01%). In terms of maximum drawdown, EDZ dropped -99.99% vs MVLL's -59.02%.

Which ETF is better, EDZ or MVLL?

On 1-year performance, MVLL leads with 589.78% vs -70.82% for EDZ. On fees, EDZ is cheaper at 1.08% per year. On volatility, EDZ has been the lower-risk option at 37.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EDZ or MVLL?

Over the 1-year period, MVLL has performed better with a 589.78% return vs -70.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EDZ or MVLL?

EDZ is cheaper with a 1.08% expense ratio, compared with 1.50% for MVLL.

Which ETF pays a higher dividend yield, EDZ or MVLL?

EDZ has the higher dividend yield at 7.60%, compared with 0.00% for MVLL.

What is the main difference between EDZ and MVLL?

EDZ tracks MSCI Emerging Markets Index (-300%), while MVLL tracks Marvell Technology Inc. (MRVL). They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.08% for EDZ and 1.50% for MVLL.

Which has better risk-adjusted returns?

MVLL currently has the higher Sharpe Ratio (4.12 vs -1.05), 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.