MORT vs. MVRL
MORT (VanEck Vectors Mortgage REIT Income ETF) and MVRL (ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN) are both REIT funds - MORT tracks the MVIS Global Mortgage REITs Index while MVRL tracks the MVIS US Mortgage REITs Index (150%). Both are passively managed. Over the past 5 years, MORT returned -2.38%/yr vs -8.77%/yr for MVRL. With a 0.96 correlation, they move nearly in lockstep. MORT charges 0.42%/yr vs 0.95%/yr for MVRL.
Performance
MORT vs. MVRL - Performance Comparison
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Returns By Period
In the year-to-date period, MORT achieves a -0.42% return, which is significantly higher than MVRL's -2.82% return.
MORT
- 1D
- 1.00%
- 1M
- 0.90%
- YTD
- -0.42%
- 6M
- -0.37%
- 1Y
- 10.51%
- 3Y*
- 8.23%
- 5Y*
- -2.38%
- 10Y*
- 2.52%
MVRL
- 1D
- 1.21%
- 1M
- 0.86%
- YTD
- -2.82%
- 6M
- -2.49%
- 1Y
- 11.67%
- 3Y*
- 7.47%
- 5Y*
- -8.77%
- 10Y*
- —
MORT vs. MVRL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MORT VanEck Vectors Mortgage REIT Income ETF | -0.42% | 12.17% | 0.14% | 14.74% | -26.92% | 15.95% | 46.94% |
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | -2.82% | 14.96% | -3.45% | 12.30% | -42.41% | 21.71% | 66.40% |
Correlation
The correlation between MORT and MVRL is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.96 |
The correlation between MORT and MVRL has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
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Return for Risk
MORT vs. MVRL — Risk / Return Rank
MORT
MVRL
MORT vs. MVRL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Mortgage REIT Income ETF (MORT) 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.
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.
| MORT | MVRL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.09 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.74 | 0.56 | +0.18 |
| Martin ratioReturn relative to average drawdown | 1.92 | 1.45 | +0.48 |
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Drawdowns
MORT vs. MVRL - Drawdown Comparison
The maximum MORT drawdown since its inception was -70.13%, which is greater than MVRL's maximum drawdown of -60.25%. Use the drawdown chart below to compare losses from any high point for MORT and MVRL.
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Drawdown Indicators
| MORT | MVRL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.13% | -60.25% | -9.88% |
Max Drawdown (1Y)Largest decline over 1 year | -14.27% | -20.93% | +6.66% |
Max Drawdown (3Y)Largest decline over 3 years | -21.98% | -32.20% | +10.22% |
Max Drawdown (5Y)Largest decline over 5 years | -42.48% | -59.63% | +17.15% |
Max Drawdown (10Y)Largest decline over 10 years | -70.13% | — | — |
Current DrawdownCurrent decline from peak | -21.94% | -38.42% | +16.48% |
Average DrawdownAverage peak-to-trough decline | -15.33% | -31.84% | +16.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.48% | 8.09% | -2.61% |
Volatility
MORT vs. MVRL - Volatility Comparison
The current volatility for VanEck Vectors Mortgage REIT Income ETF (MORT) is 4.83%, while ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) has a volatility of 6.92%. This indicates that MORT experiences smaller price fluctuations and is considered to be less risky than MVRL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MORT | MVRL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.83% | 6.92% | -2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 13.20% | 20.60% | -7.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.83% | 27.42% | -10.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.70% | 36.55% | -12.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.88% | 37.59% | -8.71% |
MORT vs. MVRL - Expense Ratio Comparison
MORT has a 0.42% expense ratio, which is lower than MVRL's 0.95% expense ratio.
Dividends
MORT vs. MVRL - Dividend Comparison
MORT's dividend yield for the trailing twelve months is around 13.07%, less than MVRL's 20.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MORT VanEck Vectors Mortgage REIT Income ETF | 13.07% | 12.76% | 11.55% | 12.18% | 13.09% | 8.21% | 8.11% | 7.36% | 8.19% | 7.82% | 8.21% | 9.91% |
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | 20.90% | 19.15% | 19.27% | 18.69% | 25.21% | 12.33% | 5.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, MORT and MVRL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
MVRL has higher volatility (6.92%) compared to MORT (4.83%). In terms of maximum drawdown, MORT dropped -70.13% vs MVRL's -60.25%.
On 5-year performance, MORT leads with -2.38% vs -8.77% for MVRL. On fees, MORT is cheaper at 0.42% per year. On volatility, MORT has been the lower-risk option at 4.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MORT has performed better with a -2.38% return vs -8.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MORT is cheaper with a 0.42% expense ratio, compared with 0.95% for MVRL.
MVRL has the higher dividend yield at 20.90%, compared with 13.07% for MORT.
MORT tracks MVIS Global Mortgage REITs Index, while MVRL tracks MVIS US Mortgage REITs Index (150%). They also come from different issuers: VanEck and UBS. Their fees differ too: 0.42% for MORT and 0.95% for MVRL.
MORT currently has the higher Sharpe Ratio (0.63 vs 0.43), 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.
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