FLYU vs. DLLL

Last updated Jun 24, 2026

FLYU (MicroSectors Travel 3X Leveraged ETNs) and DLLL (GraniteShares 2x Long DELL Daily ETF) are both Leveraged Equities funds - FLYU tracks the MerQube MicroSectors U.S. Travel Index while DLLL tracks the Dell Technologies Inc. (DELL). Both are passively managed. Over the past year, FLYU returned 12.48% vs 765.95% for DLLL. At a 0.39 correlation, their price movements are largely independent. FLYU charges 0.95%/yr vs 1.50%/yr for DLLL.

Performance

FLYU vs. DLLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Travel 3X Leveraged ETNs (FLYU) and GraniteShares 2x Long DELL Daily ETF (DLLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLYU achieves a -11.61% return, which is significantly lower than DLLL's 762.51% return.

FLYU

• 1D: 0.24%
• 1M: 23.11%
• YTD: -11.61%
• 6M: -15.72%
• 1Y: 12.48%
• 3Y*: 9.36%
• 5Y*: —
• 10Y*: —

DLLL

• 1D: 4.21%
• 1M: 89.37%
• YTD: 762.51%
• 6M: 738.64%
• 1Y: 765.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLYU vs. DLLL - Yearly Performance Comparison

	2026 (YTD)	2025
FLYU MicroSectors Travel 3X Leveraged ETNs	-11.61%	-14.45%
DLLL GraniteShares 2x Long DELL Daily ETF	762.51%	-3.72%

Correlation

The correlation between FLYU and DLLL is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.39

The correlation between FLYU and DLLL shifts across timeframes, from 0.27 (1 year) to 0.39 (all time), reflecting how their relationship changes across market environments.

FLYU vs. DLLL - Sectors Allocation Comparison

Sectors	FLYU	DLLL
Consumer Cyclical	52.6%	-
Industrials	17.7%	-
Technology	16.4%	66.6%
Communication Services	13.2%	-
Real Estate	0.1%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Utilities	-	-

Return for Risk

FLYU vs. DLLL — Risk / Return Rank

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

FLYU

FLYU Risk / Return Rank: 13
FLYU Sharpe Ratio Rank: 11
FLYU Sortino Ratio Rank: 16
FLYU Omega Ratio Rank: 15
FLYU Calmar Ratio Rank: 11
FLYU Martin Ratio Rank: 11

DLLL

DLLL Risk / Return Rank: 96
DLLL Sharpe Ratio Rank: 99
DLLL Sortino Ratio Rank: 94
DLLL Omega Ratio Rank: 92
DLLL Calmar Ratio Rank: 98
DLLL 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.

FLYU vs. DLLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel 3X Leveraged ETNs (FLYU) and GraniteShares 2x Long DELL Daily ETF (DLLL). 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.

	FLYU	DLLL	Difference
Sharpe ratio: Return per unit of total volatility	0.17	5.91	-5.74
Sortino ratio: Return per unit of downside risk	0.81	4.55	-3.74
Omega ratio: Gain probability vs. loss probability	1.09	1.56	-0.47
Calmar ratio: Return relative to maximum drawdown	0.24	13.52	-13.28
Martin ratio: Return relative to average drawdown	0.50	27.52	-27.03

FLYU vs. DLLL - Sharpe Ratio Comparison

The current FLYU Sharpe Ratio is 0.17, which is lower than the DLLL Sharpe Ratio of 5.91. The chart below compares the historical Sharpe Ratios of FLYU and DLLL, 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

FLYU vs. DLLL - Drawdown Comparison

The maximum FLYU drawdown since its inception was -69.00%, roughly equal to the maximum DLLL drawdown of -68.58%. Use the drawdown chart below to compare losses from any high point for FLYU and DLLL.

Drawdown Indicators

	FLYU	DLLL	Difference
Max Drawdown Largest peak-to-trough decline	-69.00%	-68.58%	-0.42%
Max Drawdown (1Y) Largest decline over 1 year	-52.33%	-57.19%	+4.86%
Max Drawdown (3Y) Largest decline over 3 years	-69.00%	—	—
Current Drawdown Current decline from peak	-29.88%	-18.41%	-11.47%
Average Drawdown Average peak-to-trough decline	-26.54%	-25.86%	-0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.27%	28.05%	-2.78%

Volatility

FLYU vs. DLLL - Volatility Comparison

The current volatility for MicroSectors Travel 3X Leveraged ETNs (FLYU) is 23.63%, while GraniteShares 2x Long DELL Daily ETF (DLLL) has a volatility of 66.89%. This indicates that FLYU experiences smaller price fluctuations and is considered to be less risky than DLLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLYU	DLLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.63%	66.89%	-43.26%
Volatility (6M) Calculated over the trailing 6-month period	60.01%	102.56%	-42.55%
Volatility (1Y) Calculated over the trailing 1-year period	74.93%	131.00%	-56.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.22%	129.67%	-46.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.22%	129.67%	-46.45%

FLYU vs. DLLL - Expense Ratio Comparison

FLYU has a 0.95% expense ratio, which is lower than DLLL's 1.50% expense ratio.

Dividends

FLYU vs. DLLL - Dividend Comparison

Neither FLYU nor DLLL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FLYU and DLLL in my portfolio?

FLYU and DLLL have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLYU or DLLL?

DLLL has higher volatility (66.89%) compared to FLYU (23.63%). In terms of maximum drawdown, FLYU dropped -69.00% vs DLLL's -68.58%.

Which ETF is better, FLYU or DLLL?

On 1-year performance, DLLL leads with 765.95% vs 12.48% for FLYU. On fees, FLYU is cheaper at 0.95% per year. On volatility, FLYU has been the lower-risk option at 23.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLYU or DLLL?

Over the 1-year period, DLLL has performed better with a 765.95% return vs 12.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLYU or DLLL?

FLYU is cheaper with a 0.95% expense ratio, compared with 1.50% for DLLL.

Which ETF pays a higher dividend yield, FLYU or DLLL?

FLYU and DLLL have nearly identical dividend yields, around 0.00%.

What is the main difference between FLYU and DLLL?

FLYU tracks MerQube MicroSectors U.S. Travel Index, while DLLL tracks Dell Technologies Inc. (DELL). They also come from different issuers: REX and GraniteShares. Their fees differ too: 0.95% for FLYU and 1.50% for DLLL.

Which has better risk-adjusted returns?

DLLL currently has the higher Sharpe Ratio (5.91 vs 0.17), 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.