MLPR vs. ARMG

Last updated Jun 4, 2026

MLPR (ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN) and ARMG (Leverage Shares 2X Long ARM Daily ETF) are both Leveraged Equities funds. MLPR is passively managed, while ARMG is actively managed. Over the past year, MLPR returned 32.42% vs 510.84% for ARMG. At a 0.12 correlation, their price movements are largely independent. MLPR charges 0.95%/yr vs 0.75%/yr for ARMG.

Performance

MLPR vs. ARMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) and Leverage Shares 2X Long ARM Daily ETF (ARMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPR achieves a 29.81% return, which is significantly lower than ARMG's 936.32% return.

MLPR

• 1D: -0.37%
• 1M: -1.12%
• YTD: 29.81%
• 6M: 26.95%
• 1Y: 32.42%
• 3Y*: 32.14%
• 5Y*: 26.89%
• 10Y*: —

ARMG

• 1D: 4.85%
• 1M: 261.28%
• YTD: 936.32%
• 6M: 526.62%
• 1Y: 510.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MLPR vs. ARMG - Yearly Performance Comparison

	2026 (YTD)	2025
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN	29.81%	0.80%
ARMG Leverage Shares 2X Long ARM Daily ETF	936.32%	-61.80%

Correlation

The correlation between MLPR and ARMG is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.12

The correlation between MLPR and ARMG shifts across timeframes, from -0.08 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MLPR vs. ARMG — Risk / Return Rank

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

MLPR

MLPR Risk / Return Rank: 44
MLPR Sharpe Ratio Rank: 45
MLPR Sortino Ratio Rank: 41
MLPR Omega Ratio Rank: 42
MLPR Calmar Ratio Rank: 47
MLPR Martin Ratio Rank: 45

ARMG

ARMG Risk / Return Rank: 84
ARMG Sharpe Ratio Rank: 95
ARMG Sortino Ratio Rank: 80
ARMG Omega Ratio Rank: 77
ARMG Calmar Ratio Rank: 94
ARMG Martin Ratio Rank: 71

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.

MLPR vs. ARMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) and Leverage Shares 2X Long ARM Daily ETF (ARMG). 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.

	MLPR	ARMG	Difference
Sharpe ratio: Return per unit of total volatility	1.59	3.96	-2.37
Sortino ratio: Return per unit of downside risk	2.11	3.63	-1.52
Omega ratio: Gain probability vs. loss probability	1.27	1.46	-0.19
Calmar ratio: Return relative to maximum drawdown	2.33	7.56	-5.23
Martin ratio: Return relative to average drawdown	7.53	13.34	-5.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLPR vs. ARMG - Sharpe Ratio Comparison

The current MLPR Sharpe Ratio is 1.59, which is lower than the ARMG Sharpe Ratio of 3.96. The chart below compares the historical Sharpe Ratios of MLPR and ARMG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MLPR	ARMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	3.96	-2.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	1.24	-0.31

Drawdowns

MLPR vs. ARMG - Drawdown Comparison

The maximum MLPR drawdown since its inception was -48.98%, smaller than the maximum ARMG drawdown of -80.28%. Use the drawdown chart below to compare losses from any high point for MLPR and ARMG.

Drawdown Indicators

	MLPR	ARMG	Difference
Max Drawdown Largest peak-to-trough decline	-48.98%	-80.28%	+31.30%
Max Drawdown (1Y) Largest decline over 1 year	-13.97%	-68.13%	+54.16%
Max Drawdown (3Y) Largest decline over 3 years	-24.45%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.66%	—	—
Current Drawdown Current decline from peak	-7.07%	0.00%	-7.07%
Average Drawdown Average peak-to-trough decline	-8.94%	-53.04%	+44.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.32%	38.55%	-34.23%

Volatility

MLPR vs. ARMG - Volatility Comparison

The current volatility for ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) is 8.12%, while Leverage Shares 2X Long ARM Daily ETF (ARMG) has a volatility of 64.57%. This indicates that MLPR experiences smaller price fluctuations and is considered to be less risky than ARMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPR	ARMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.12%	64.57%	-56.45%
Volatility (6M) Calculated over the trailing 6-month period	14.85%	103.90%	-89.05%
Volatility (1Y) Calculated over the trailing 1-year period	20.64%	130.31%	-109.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.52%	138.30%	-108.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.75%	138.30%	-104.55%

MLPR vs. ARMG - Expense Ratio Comparison

MLPR has a 0.95% expense ratio, which is higher than ARMG's 0.75% expense ratio.

Dividends

MLPR vs. ARMG - Dividend Comparison

MLPR's dividend yield for the trailing twelve months is around 9.00%, more than ARMG's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
ARMG Leverage Shares 2X Long ARM Daily ETF	0.47%	4.86%	0.00%	0.00%	0.00%	0.00%	0.00%
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN	9.00%	10.85%	9.57%	10.08%	7.49%	10.69%	4.21%

Frequently Asked Questions

Can I hold both MLPR and ARMG in my portfolio?

MLPR and ARMG have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLPR or ARMG?

ARMG has higher volatility (64.57%) compared to MLPR (8.12%). In terms of maximum drawdown, MLPR dropped -48.98% vs ARMG's -80.28%.

Which ETF is better, MLPR or ARMG?

On 1-year performance, ARMG leads with 510.84% vs 32.42% for MLPR. On fees, ARMG is cheaper at 0.75% per year. On volatility, MLPR has been the lower-risk option at 8.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPR or ARMG?

Over the 1-year period, ARMG has performed better with a 510.84% return vs 32.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPR or ARMG?

ARMG is cheaper with a 0.75% expense ratio, compared with 0.95% for MLPR.

Which ETF pays a higher dividend yield, MLPR or ARMG?

MLPR has the higher dividend yield at 9.00%, compared with 0.47% for ARMG.

What is the main difference between MLPR and ARMG?

They also come from different issuers: UBS and Leverage Shares. Their fees differ too: 0.95% for MLPR and 0.75% for ARMG.

Which has better risk-adjusted returns?

ARMG currently has the higher Sharpe Ratio (3.96 vs 1.59), 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.