LGDX vs. MSDD

Last updated Jun 5, 2026

LGDX (Intech S&P Large Cap Diversified Alpha ETF) and MSDD (GraniteShares 2x Short MSTR Daily ETF) are both exchange-traded funds - LGDX is a Large Cap Blend Equities fund actively managed by Intech, while MSDD is a Inverse Equities fund actively managed by GraniteShares. Both are actively managed. At a correlation of -0.47, they often move in opposite directions. LGDX charges 0.25%/yr vs 1.50%/yr for MSDD.

Performance

LGDX vs. MSDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Intech S&P Large Cap Diversified Alpha ETF (LGDX) and GraniteShares 2x Short MSTR Daily ETF (MSDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LGDX achieves a 10.08% return, which is significantly higher than MSDD's -49.24% return.

LGDX

• 1D: 0.53%
• 1M: 4.70%
• YTD: 10.08%
• 6M: 10.91%
• 1Y: 23.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSDD

• 1D: -3.94%
• 1M: 84.54%
• YTD: -49.24%
• 6M: -28.51%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LGDX vs. MSDD - Yearly Performance Comparison

	2026 (YTD)	2025
LGDX Intech S&P Large Cap Diversified Alpha ETF	10.08%	11.56%
MSDD GraniteShares 2x Short MSTR Daily ETF	-49.24%	271.43%

Correlation

The correlation between LGDX and MSDD is -0.47, 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 (All Time) Calculated using the full available price history since Jun 11, 2025	-0.47

LGDX vs. MSDD - Sectors Allocation Comparison

Sectors	LGDX	MSDD
Technology	33.4%	200.1%
Communication Services	12.0%	-
Consumer Cyclical	10.8%	-
Financial Services	10.8%	-
Healthcare	9.4%	-
Industrials	7.8%	-
Consumer Defensive	4.3%	-
Energy	3.6%	-
Real Estate	3.2%	-
Utilities	3.0%	-
Basic Materials	1.8%	-

Return for Risk

LGDX vs. MSDD — Risk / Return Rank

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

LGDX

LGDX Risk / Return Rank: 58
LGDX Sharpe Ratio Rank: 57
LGDX Sortino Ratio Rank: 56
LGDX Omega Ratio Rank: 55
LGDX Calmar Ratio Rank: 54
LGDX Martin Ratio Rank: 65

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.

LGDX vs. MSDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Intech S&P Large Cap Diversified Alpha ETF (LGDX) and GraniteShares 2x Short MSTR Daily ETF (MSDD). 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.

	LGDX	MSDD	Difference
Sharpe ratio: Return per unit of total volatility	1.90	—	—
Sortino ratio: Return per unit of downside risk	2.64	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	2.66	—	—
Martin ratio: Return relative to average drawdown	11.80	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	LGDX	MSDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	0.64	+0.43

Drawdowns

LGDX vs. MSDD - Drawdown Comparison

The maximum LGDX drawdown since its inception was -15.79%, smaller than the maximum MSDD drawdown of -84.91%. Use the drawdown chart below to compare losses from any high point for LGDX and MSDD.

Drawdown Indicators

	LGDX	MSDD	Difference
Max Drawdown Largest peak-to-trough decline	-15.79%	-84.91%	+69.12%
Max Drawdown (1Y) Largest decline over 1 year	-8.96%	—	—
Current Drawdown Current decline from peak	-0.33%	-68.95%	+68.62%
Average Drawdown Average peak-to-trough decline	-2.03%	-29.58%	+27.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	—	—

Volatility

Volatility by Period

	LGDX	MSDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.93%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.62%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.51%	141.35%	-128.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.32%	141.35%	-123.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.32%	141.35%	-123.03%

LGDX vs. MSDD - Expense Ratio Comparison

LGDX has a 0.25% expense ratio, which is lower than MSDD's 1.50% expense ratio.

Dividends

LGDX vs. MSDD - Dividend Comparison

LGDX's dividend yield for the trailing twelve months is around 0.47%, while MSDD has not paid dividends to shareholders.

Position	TTM	2025
LGDX Intech S&P Large Cap Diversified Alpha ETF	0.47%	0.52%
MSDD GraniteShares 2x Short MSTR Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both LGDX and MSDD in my portfolio?

LGDX and MSDD have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LGDX or MSDD?

On fees, LGDX is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LGDX or MSDD?

LGDX is cheaper with a 0.25% expense ratio, compared with 1.50% for MSDD.

Which ETF pays a higher dividend yield, LGDX or MSDD?

LGDX has the higher dividend yield at 0.47%, compared with 0.00% for MSDD.

What is the main difference between LGDX and MSDD?

LGDX is categorized as Large Cap Blend Equities, while MSDD is Inverse Equities. They also come from different issuers: Intech and GraniteShares. Their fees differ too: 0.25% for LGDX and 1.50% for MSDD.