FBGX vs. MVRL

Last updated Jun 3, 2026

FBGX (UBS AG FI Enhanced Large Cap Growth ETN) and MVRL (ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN) are both exchange-traded funds - FBGX is a Leveraged Equities fund tracking the Russell 1000 Growth Index (200%), while MVRL is a REIT fund tracking the MVIS US Mortgage REITs Index (150%). Both are passively managed. At a 0.40 correlation, their price movements are largely independent. FBGX charges 1.29%/yr vs 0.95%/yr for MVRL.

Performance

FBGX vs. MVRL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS AG FI Enhanced Large Cap Growth ETN (FBGX) and ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FBGX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MVRL

• 1D: 0.35%
• 1M: -8.77%
• YTD: -3.17%
• 6M: -2.49%
• 1Y: 17.55%
• 3Y*: 7.91%
• 5Y*: -8.17%
• 10Y*: —

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

FBGX vs. MVRL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	35.73%	83.74%	-56.41%	57.04%	59.99%
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN	-3.17%	14.96%	-3.45%	12.30%	-42.41%	21.71%	57.90%

Correlation

The correlation between FBGX and MVRL is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020	0.40

The correlation between FBGX and MVRL shifts across timeframes, from 0.23 (3 years) to 0.44 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FBGX vs. MVRL — Risk / Return Rank

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

MVRL

MVRL Risk / Return Rank: 19
MVRL Sharpe Ratio Rank: 20
MVRL Sortino Ratio Rank: 20
MVRL Omega Ratio Rank: 20
MVRL Calmar Ratio Rank: 17
MVRL Martin Ratio Rank: 18

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.

FBGX vs. MVRL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS AG FI Enhanced Large Cap Growth ETN (FBGX) and ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL). 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.

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

Sharpe Ratios by Period

	FBGX	MVRL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.65	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.22	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.13	—

Drawdowns

Drawdown Indicators

	FBGX	MVRL	Difference
Max Drawdown Largest peak-to-trough decline	—	-60.25%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-20.93%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-32.20%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-60.25%	—
Current Drawdown Current decline from peak	—	-38.64%	—
Average Drawdown Average peak-to-trough decline	—	-31.80%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.45%	—

Volatility

Volatility by Period

	FBGX	MVRL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.25%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	27.34%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	36.54%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	37.63%	—

FBGX vs. MVRL - Expense Ratio Comparison

FBGX has a 1.29% expense ratio, which is higher than MVRL's 0.95% expense ratio.

Dividends

FBGX vs. MVRL - Dividend Comparison

FBGX has not paid dividends to shareholders, while MVRL's dividend yield for the trailing twelve months is around 20.77%.

Position	TTM	2025	2024	2023	2022	2021	2020
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN	20.77%	19.15%	19.27%	18.69%	25.21%	12.33%	5.63%

Frequently Asked Questions

Can I hold both FBGX and MVRL in my portfolio?

FBGX and MVRL have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FBGX or MVRL?

On fees, MVRL is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBGX or MVRL?

MVRL is cheaper with a 0.95% expense ratio, compared with 1.29% for FBGX.

Which ETF pays a higher dividend yield, FBGX or MVRL?

MVRL has the higher dividend yield at 20.77%, compared with 0.00% for FBGX.

What is the main difference between FBGX and MVRL?

FBGX is categorized as Leveraged Equities, while MVRL is REIT. FBGX tracks Russell 1000 Growth Index (200%), while MVRL tracks MVIS US Mortgage REITs Index (150%). Their fees differ too: 1.29% for FBGX and 0.95% for MVRL.