MSFL vs. BEG

Last updated Jun 23, 2026

MSFL (GraniteShares 2x Long MSFT Daily ETF) and BEG (Leverage Shares 2X Long BE Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.06 correlation, their price movements are largely independent. MSFL charges 1.15%/yr vs 0.75%/yr for BEG.

Performance

MSFL vs. BEG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MSFT Daily ETF (MSFL) and Leverage Shares 2X Long BE Daily ETF (BEG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSFL achieves a -47.07% return, which is significantly lower than BEG's 778.97% return.

MSFL

• 1D: -6.13%
• 1M: -24.42%
• YTD: -47.07%
• 6M: -47.46%
• 1Y: -48.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BEG

• 1D: 10.53%
• 1M: 20.45%
• YTD: 778.97%
• 6M: 676.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSFL vs. BEG - Yearly Performance Comparison

	2026 (YTD)	2025
MSFL GraniteShares 2x Long MSFT Daily ETF	-47.07%	3.37%
BEG Leverage Shares 2X Long BE Daily ETF	778.97%	1.77%

Correlation

The correlation between MSFL and BEG is 0.06, 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 (All Time) Calculated using the full available price history since Dec 16, 2025	0.06

Return for Risk

MSFL vs. BEG — Risk / Return Rank

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

MSFL

MSFL Risk / Return Rank: 2
MSFL Sharpe Ratio Rank: 2
MSFL Sortino Ratio Rank: 2
MSFL Omega Ratio Rank: 2
MSFL Calmar Ratio Rank: 2
MSFL Martin Ratio Rank: 1

BEG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

MSFL vs. BEG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MSFT Daily ETF (MSFL) and Leverage Shares 2X Long BE Daily ETF (BEG). 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.

	MSFL	BEG	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	—	—
Sortino ratio: Return per unit of downside risk	-1.29	—	—
Omega ratio: Gain probability vs. loss probability	0.83	—	—
Calmar ratio: Return relative to maximum drawdown	-0.82	—	—
Martin ratio: Return relative to average drawdown	-1.48	—	—

Drawdowns

MSFL vs. BEG - Drawdown Comparison

The maximum MSFL drawdown since its inception was -59.39%, roughly equal to the maximum BEG drawdown of -59.85%. Use the drawdown chart below to compare losses from any high point for MSFL and BEG.

Drawdown Indicators

	MSFL	BEG	Difference
Max Drawdown Largest peak-to-trough decline	-59.39%	-59.85%	+0.46%
Max Drawdown (1Y) Largest decline over 1 year	-59.39%	—	—
Current Drawdown Current decline from peak	-58.76%	0.00%	-58.76%
Average Drawdown Average peak-to-trough decline	-22.18%	-16.76%	-5.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.63%	—	—

Volatility

Volatility by Period

	MSFL	BEG	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	46.47%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	51.97%	212.53%	-160.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.94%	212.53%	-162.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.94%	212.53%	-162.59%

MSFL vs. BEG - Expense Ratio Comparison

MSFL has a 1.15% expense ratio, which is higher than BEG's 0.75% expense ratio.

Dividends

MSFL vs. BEG - Dividend Comparison

Neither MSFL nor BEG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MSFL and BEG in my portfolio?

MSFL and BEG have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSFL or BEG?

On fees, BEG 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, MSFL or BEG?

BEG is cheaper with a 0.75% expense ratio, compared with 1.15% for MSFL.

Which ETF pays a higher dividend yield, MSFL or BEG?

MSFL and BEG have nearly identical dividend yields, around 0.00%.

What is the main difference between MSFL and BEG?

They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.15% for MSFL and 0.75% for BEG.