MSFL vs. BMNG
MSFL (GraniteShares 2x Long MSFT Daily ETF) and BMNG (Leverage Shares 2X Long BMNR Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.30 correlation, their price movements are largely independent. MSFL charges 1.15%/yr vs 0.75%/yr for BMNG.
Performance
MSFL vs. BMNG - Performance Comparison
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Returns By Period
In the year-to-date period, MSFL achieves a -27.39% return, which is significantly higher than BMNG's -72.19% return.
MSFL
- 1D
- 0.41%
- 1M
- 6.90%
- YTD
- -27.39%
- 6M
- -26.98%
- 1Y
- -25.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BMNG
- 1D
- 11.82%
- 1M
- -43.79%
- YTD
- -72.19%
- 6M
- -85.64%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSFL vs. BMNG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSFL GraniteShares 2x Long MSFT Daily ETF | -27.39% | -18.77% |
BMNG Leverage Shares 2X Long BMNR Daily ETF | -72.19% | -81.37% |
Correlation
The correlation between MSFL and BMNG is 0.30, 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 Oct 28, 2025 | 0.30 |
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Return for Risk
MSFL vs. BMNG — Risk / Return Rank
MSFL
BMNG
MSFL vs. BMNG - 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 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.
| MSFL | BMNG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.94 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | — | — |
| Martin ratioReturn relative to average drawdown | -0.82 | — | — |
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 | BMNG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.50 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.22 | -0.52 | +0.30 |
Drawdowns
MSFL vs. BMNG - Drawdown Comparison
The maximum MSFL drawdown since its inception was -59.39%, smaller than the maximum BMNG drawdown of -95.36%. Use the drawdown chart below to compare losses from any high point for MSFL and BMNG.
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Drawdown Indicators
| MSFL | BMNG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.39% | -95.36% | +35.97% |
Max Drawdown (1Y)Largest decline over 1 year | -59.39% | — | — |
Current DrawdownCurrent decline from peak | -43.42% | -94.82% | +51.40% |
Average DrawdownAverage peak-to-trough decline | -21.62% | -81.47% | +59.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.73% | — | — |
Volatility
MSFL vs. BMNG - Volatility Comparison
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Volatility by Period
| MSFL | BMNG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.76% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 45.21% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 50.18% | 191.69% | -141.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.55% | 191.69% | -142.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.55% | 191.69% | -142.14% |
MSFL vs. BMNG - Expense Ratio Comparison
MSFL has a 1.15% expense ratio, which is higher than BMNG's 0.75% expense ratio.
Dividends
MSFL vs. BMNG - Dividend Comparison
Neither MSFL nor BMNG has paid dividends to shareholders.
Frequently Asked Questions
MSFL and BMNG have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
BMNG is cheaper with a 0.75% expense ratio, compared with 1.15% for MSFL.
MSFL and BMNG have nearly identical dividend yields, around 0.00%.
They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.15% for MSFL and 0.75% for BMNG.
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