HDLB vs. MVRL
HDLB (ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B) and MVRL (ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN) are both exchange-traded funds - HDLB is a Leveraged Equities fund tracking the Solactive US High Dividend Low Volatility (USD)(TR) (200%), while MVRL is a REIT fund tracking the MVIS US Mortgage REITs Index (150%). Both are passively managed. Over the past 5 years, HDLB returned 11.24%/yr vs -8.72%/yr for MVRL. A 0.61 correlation means they provide meaningful diversification when combined. HDLB charges 1.65%/yr vs 0.95%/yr for MVRL.
Performance
HDLB vs. MVRL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HDLB achieves a 9.69% return, which is significantly higher than MVRL's -5.20% return.
HDLB
- 1D
- -1.72%
- 1M
- -4.18%
- YTD
- 9.69%
- 6M
- 8.78%
- 1Y
- 17.78%
- 3Y*
- 26.82%
- 5Y*
- 11.24%
- 10Y*
- —
MVRL
- 1D
- -2.09%
- 1M
- -7.86%
- YTD
- -5.20%
- 6M
- -5.45%
- 1Y
- 11.96%
- 3Y*
- 7.15%
- 5Y*
- -8.72%
- 10Y*
- —
HDLB vs. MVRL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 9.69% | 27.26% | 28.21% | -4.12% | -11.46% | 62.67% | 4.73% |
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | -5.20% | 14.96% | -3.45% | 12.30% | -42.41% | 21.71% | 57.90% |
Correlation
The correlation between HDLB and MVRL is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.61 |
The correlation between HDLB and MVRL has been stable across timeframes, ranging from 0.51 to 0.61 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HDLB vs. MVRL — Risk / Return Rank
HDLB
MVRL
HDLB vs. MVRL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) 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.
| HDLB | MVRL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.10 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 0.57 | +0.66 |
| Martin ratioReturn relative to average drawdown | 2.69 | 1.60 | +1.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HDLB | MVRL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | 0.44 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | -0.24 | +0.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 0.12 | -0.03 |
Drawdowns
HDLB vs. MVRL - Drawdown Comparison
The maximum HDLB drawdown since its inception was -78.70%, which is greater than MVRL's maximum drawdown of -60.25%. Use the drawdown chart below to compare losses from any high point for HDLB and MVRL.
Loading charts...
Drawdown Indicators
| HDLB | MVRL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.70% | -60.25% | -18.45% |
Max Drawdown (1Y)Largest decline over 1 year | -14.50% | -20.93% | +6.43% |
Max Drawdown (3Y)Largest decline over 3 years | -22.46% | -32.20% | +9.74% |
Max Drawdown (5Y)Largest decline over 5 years | -43.81% | -60.25% | +16.44% |
Current DrawdownCurrent decline from peak | -14.15% | -39.93% | +25.78% |
Average DrawdownAverage peak-to-trough decline | -27.47% | -31.81% | +4.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.62% | 7.51% | -0.89% |
Volatility
HDLB vs. MVRL - Volatility Comparison
ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (HDLB) has a higher volatility of 6.21% compared to ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) at 5.87%. This indicates that HDLB's price experiences larger fluctuations and is considered to be riskier than MVRL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HDLB | MVRL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.21% | 5.87% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 18.14% | 20.18% | -2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.46% | 27.30% | -0.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.55% | 36.55% | -6.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.58% | 37.63% | +5.95% |
HDLB vs. MVRL - Expense Ratio Comparison
HDLB has a 1.65% expense ratio, which is higher than MVRL's 0.95% expense ratio.
Dividends
HDLB vs. MVRL - Dividend Comparison
HDLB's dividend yield for the trailing twelve months is around 12.13%, less than MVRL's 21.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HDLB ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B | 12.13% | 12.20% | 10.09% | 12.36% | 10.86% | 8.07% | 16.23% | 0.97% |
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | 21.21% | 19.15% | 19.27% | 18.69% | 25.21% | 12.33% | 5.63% | 0.00% |
Frequently Asked Questions
HDLB and MVRL have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDLB has higher volatility (6.21%) compared to MVRL (5.87%). In terms of maximum drawdown, HDLB dropped -78.70% vs MVRL's -60.25%.
On 5-year performance, HDLB leads with 11.24% vs -8.72% for MVRL. On fees, MVRL is cheaper at 0.95% per year. On volatility, MVRL has been the lower-risk option at 5.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HDLB has performed better with a 11.24% return vs -8.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MVRL is cheaper with a 0.95% expense ratio, compared with 1.65% for HDLB.
MVRL has the higher dividend yield at 21.21%, compared with 12.13% for HDLB.
HDLB is categorized as Leveraged Equities, while MVRL is REIT. HDLB tracks Solactive US High Dividend Low Volatility (USD)(TR) (200%), while MVRL tracks MVIS US Mortgage REITs Index (150%). Their fees differ too: 1.65% for HDLB and 0.95% for MVRL.
HDLB currently has the higher Sharpe Ratio (0.68 vs 0.44), 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.
Find the right allocation for HDLB and MVRL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer