MPL vs. BMNG

Last updated Jul 17, 2026

MPL (Defiance Daily Target 2X Long MP ETF) and BMNG (Leverage Shares 2X Long BMNR Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.33 correlation, their price movements are largely independent. MPL charges 1.31%/yr vs 0.75%/yr for BMNG.

Performance

MPL vs. BMNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long MP ETF (MPL) and Leverage Shares 2X Long BMNR Daily ETF (BMNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MPL

• 1D: -16.51%
• 1M: -39.68%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BMNG

• 1D: -4.29%
• 1M: -14.65%
• 6M: -84.91%
• YTD: -81.40%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MPL vs. BMNG - Yearly Performance Comparison

	2026 (YTD)
MPL Defiance Daily Target 2X Long MP ETF	-56.00%
BMNG Leverage Shares 2X Long BMNR Daily ETF	-40.94%

Correlation

The correlation between MPL and BMNG is 0.33, 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 May 26, 2026	0.33

Return for Risk

MPL vs. BMNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long MP ETF (MPL) and Leverage Shares 2X Long BMNR Daily ETF (BMNG). 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.

Drawdowns

MPL vs. BMNG - Drawdown Comparison

The maximum MPL drawdown since its inception was -63.58%, smaller than the maximum BMNG drawdown of -97.32%. Use the drawdown chart below to compare losses from any high point for MPL and BMNG.

Drawdown Indicators

	MPL	BMNG	Difference
Max Drawdown Largest peak-to-trough decline	-63.58%	-97.32%	+33.74%
Current Drawdown Current decline from peak	-63.58%	-96.53%	+32.95%
Average Drawdown Average peak-to-trough decline	-35.97%	-83.35%	+47.38%

Volatility

Volatility by Period

	MPL	BMNG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	131.93%	186.57%	-54.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	131.93%	186.57%	-54.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	131.93%	186.57%	-54.64%

MPL vs. BMNG - Expense Ratio Comparison

MPL has a 1.31% expense ratio, which is higher than BMNG's 0.75% expense ratio.

Dividends

MPL vs. BMNG - Dividend Comparison

Neither MPL nor BMNG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MPL and BMNG in my portfolio?

MPL and BMNG have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MPL or BMNG?

On fees, BMNG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MPL or BMNG?

BMNG is cheaper with a 0.75% expense ratio, compared with 1.31% for MPL.

Which ETF pays a higher dividend yield, MPL or BMNG?

MPL and BMNG have nearly identical dividend yields, around 0.00%.

What is the main difference between MPL and BMNG?

They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 1.31% for MPL and 0.75% for BMNG.