MSFL vs. ^GSPC
MSFL (GraniteShares 2x Long MSFT Daily ETF) is Leveraged Equities fund actively managed by GraniteShares, while ^GSPC (S&P 500 Index) is an index. Over the past year, MSFL returned -25.09% vs 27.02% for ^GSPC. A 0.61 correlation means they provide meaningful diversification when combined.
Performance
MSFL vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, MSFL achieves a -27.39% return, which is significantly lower than ^GSPC's 10.79% return.
MSFL
- 1D
- 0.41%
- 1M
- 6.90%
- YTD
- -27.39%
- 6M
- -26.98%
- 1Y
- -25.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
^GSPC
- 1D
- 0.41%
- 1M
- 4.48%
- YTD
- 10.79%
- 6M
- 10.60%
- 1Y
- 27.02%
- 3Y*
- 21.07%
- 5Y*
- 12.39%
- 10Y*
- 13.65%
MSFL vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MSFL GraniteShares 2x Long MSFT Daily ETF | -27.39% | 16.99% | -9.07% |
^GSPC S&P 500 Index | 10.79% | 16.39% | 14.22% |
Correlation
The correlation between MSFL and ^GSPC is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2024 | 0.61 |
The correlation between MSFL and ^GSPC shifts across timeframes, from 0.46 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MSFL vs. ^GSPC — Risk / Return Rank
MSFL
^GSPC
MSFL vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MSFT Daily ETF (MSFL) and S&P 500 Index (^GSPC). 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.
| MSFL | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.79 | ||
| Sortino ratioReturn per unit of downside risk | -3.54 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.41 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | 2.98 | -3.41 |
| Martin ratioReturn relative to average drawdown | -0.82 | 13.78 | -14.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MSFL | ^GSPC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.50 | 2.28 | -2.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.74 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.76 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.22 | 0.47 | -0.70 |
Drawdowns
MSFL vs. ^GSPC - Drawdown Comparison
The maximum MSFL drawdown since its inception was -59.39%, roughly equal to the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for MSFL and ^GSPC.
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Drawdown Indicators
| MSFL | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.39% | -56.78% | -2.61% |
Max Drawdown (1Y)Largest decline over 1 year | -59.39% | -9.10% | -50.29% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -43.42% | -0.33% | -43.09% |
Average DrawdownAverage peak-to-trough decline | -21.62% | -10.72% | -10.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.73% | 1.97% | +28.76% |
Volatility
MSFL vs. ^GSPC - Volatility Comparison
GraniteShares 2x Long MSFT Daily ETF (MSFL) has a higher volatility of 19.76% compared to S&P 500 Index (^GSPC) at 2.88%. This indicates that MSFL's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSFL | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.76% | 2.88% | +16.88% |
Volatility (6M)Calculated over the trailing 6-month period | 45.21% | 9.00% | +36.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.18% | 11.89% | +38.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.55% | 16.90% | +32.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.55% | 18.06% | +31.49% |
Frequently Asked Questions
MSFL and ^GSPC have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSFL has higher volatility (19.76%) compared to ^GSPC (2.88%). In terms of maximum drawdown, MSFL dropped -59.39% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (2.28 vs -0.50), 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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