KEEX vs. MVLL

Last updated Jul 1, 2026

KEEX (Defiance Daily Target 2X Long KEEL ETF) and MVLL (GraniteShares 2x Long MRVL Daily ETF) are both Leveraged Equities funds. KEEX is actively managed, while MVLL is passively managed. At a 0.30 correlation, their price movements are largely independent. KEEX charges 1.31%/yr vs 1.50%/yr for MVLL.

Performance

KEEX vs. MVLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long KEEL ETF (KEEX) and GraniteShares 2x Long MRVL Daily ETF (MVLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KEEX

• 1D: -2.44%
• 1M: -7.60%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MVLL

• 1D: 14.62%
• 1M: 71.22%
• YTD: 699.93%
• 6M: 667.14%
• 1Y: 648.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KEEX vs. MVLL - Yearly Performance Comparison

	2026 (YTD)
KEEX Defiance Daily Target 2X Long KEEL ETF	161.55%
MVLL GraniteShares 2x Long MRVL Daily ETF	151.53%

Correlation

The correlation between KEEX and MVLL is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 27, 2026	0.30

Return for Risk

KEEX vs. MVLL — Risk / Return Rank

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

KEEX

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

MVLL

MVLL Risk / Return Rank: 94
MVLL Sharpe Ratio Rank: 98
MVLL Sortino Ratio Rank: 90
MVLL Omega Ratio Rank: 90
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.

KEEX vs. MVLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long KEEL ETF (KEEX) 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.

	KEEX	MVLL	Difference
Sharpe ratio: Return per unit of total volatility	—	4.50	—
Sortino ratio: Return per unit of downside risk	—	3.57	—
Omega ratio: Gain probability vs. loss probability	—	1.49	—
Calmar ratio: Return relative to maximum drawdown	—	13.37	—
Martin ratio: Return relative to average drawdown	—	26.94	—

Drawdowns

KEEX vs. MVLL - Drawdown Comparison

The maximum KEEX drawdown since its inception was -33.20%, smaller than the maximum MVLL drawdown of -59.02%. Use the drawdown chart below to compare losses from any high point for KEEX and MVLL.

Drawdown Indicators

	KEEX	MVLL	Difference
Max Drawdown Largest peak-to-trough decline	-33.20%	-59.02%	+25.82%
Max Drawdown (1Y) Largest decline over 1 year	—	-48.93%	—
Current Drawdown Current decline from peak	-27.13%	-22.51%	-4.62%
Average Drawdown Average peak-to-trough decline	-10.81%	-22.53%	+11.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	24.31%	—

Volatility

Volatility by Period

	KEEX	MVLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	87.91%	—
Volatility (6M) Calculated over the trailing 6-month period	—	114.65%	—
Volatility (1Y) Calculated over the trailing 1-year period	191.26%	145.41%	+45.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	191.26%	147.20%	+44.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	191.26%	147.20%	+44.06%

KEEX vs. MVLL - Expense Ratio Comparison

KEEX has a 1.31% expense ratio, which is lower than MVLL's 1.50% expense ratio.

Dividends

KEEX vs. MVLL - Dividend Comparison

Neither KEEX nor MVLL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both KEEX and MVLL in my portfolio?

KEEX and MVLL have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KEEX or MVLL?

On fees, KEEX is cheaper at 1.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KEEX or MVLL?

KEEX is cheaper with a 1.31% expense ratio, compared with 1.50% for MVLL.

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

KEEX and MVLL have nearly identical dividend yields, around 0.00%.

What is the main difference between KEEX and MVLL?

They also come from different issuers: Defiance and GraniteShares. Their fees differ too: 1.31% for KEEX and 1.50% for MVLL.