MPG vs. MRNX
MPG (Leverage Shares 2X Long MP Daily ETF) and MRNX (Defiance Daily Target 2X Long MRNA ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.28 correlation, their price movements are largely independent. MPG charges 0.75%/yr vs 1.31%/yr for MRNX.
Performance
MPG vs. MRNX - Performance Comparison
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Returns By Period
MPG
- 1D
- -2.60%
- 1M
- -43.38%
- 6M
- -68.37%
- YTD
- -44.51%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
MRNX
- 1D
- -3.51%
- 1M
- -18.93%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $644.61K | $915.06K | $1.08M | |
| $817.70K | $1.81M | $1.18M |
MPG vs. MRNX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MPG Leverage Shares 2X Long MP Daily ETF | -63.49% |
MRNX Defiance Daily Target 2X Long MRNA ETF | 29.26% |
Correlation
The correlation between MPG and MRNX is 0.28, 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 Feb 4, 2026 | 0.28 |
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Return for Risk
MPG vs. MRNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long MP Daily ETF (MPG) and Defiance Daily Target 2X Long MRNA ETF (MRNX). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Drawdowns
MPG vs. MRNX - Drawdown Comparison
The maximum MPG drawdown since its inception was -71.90%, which is greater than MRNX's maximum drawdown of -53.66%. Use the drawdown chart below to compare losses from any high point for MPG and MRNX.
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Drawdown Indicators
| MPG | MRNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.90% | -53.66% | -18.24% |
Current DrawdownCurrent decline from peak | -71.90% | -53.66% | -18.24% |
Average DrawdownAverage peak-to-trough decline | -38.58% | -22.71% | -15.87% |
Volatility
MPG vs. MRNX - Volatility Comparison
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Volatility by Period
| MPG | MRNX | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 143.17% | 137.48% | +5.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 143.17% | 137.48% | +5.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 143.17% | 137.48% | +5.69% |
MPG vs. MRNX - Expense Ratio Comparison
MPG has a 0.75% expense ratio, which is lower than MRNX's 1.31% expense ratio.
Dividends
MPG vs. MRNX - Dividend Comparison
Neither MPG nor MRNX has paid dividends to shareholders.
Frequently Asked Questions
MPG and MRNX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MPG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MPG is cheaper with a 0.75% expense ratio, compared with 1.31% for MRNX.
MPG and MRNX have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Leverage Shares and Defiance. Their fees differ too: 0.75% for MPG and 1.31% for MRNX.
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