MSFL vs. GEVG

Last updated Jul 14, 2026

MSFL (GraniteShares 2x Long MSFT Daily ETF) and GEVG (Leverage Shares 2X Long GEV Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a correlation of -0.09, they often move in opposite directions. MSFL charges 1.15%/yr vs 0.75%/yr for GEVG.

Performance

MSFL vs. GEVG - 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 GEV Daily ETF (GEVG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSFL achieves a -40.78% return, which is significantly lower than GEVG's 130.67% return.

MSFL

• 1D: 3.07%
• 1M: -1.59%
• 6M: -38.88%
• YTD: -40.78%
• 1Y: -47.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GEVG

• 1D: 3.07%
• 1M: 29.32%
• 6M: 155.70%
• YTD: 130.67%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSFL vs. GEVG - Yearly Performance Comparison

	2026 (YTD)	2025
MSFL GraniteShares 2x Long MSFT Daily ETF	-40.78%	3.37%
GEVG Leverage Shares 2X Long GEV Daily ETF	130.67%	-11.27%

Correlation

The correlation between MSFL and GEVG is -0.09, 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	-0.09

Return for Risk

MSFL vs. GEVG — 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: 3
MSFL Omega Ratio Rank: 2
MSFL Calmar Ratio Rank: 3
MSFL Martin Ratio Rank: 2

GEVG

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. GEVG - 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 GEV Daily ETF (GEVG). 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	GEVG	Difference
Sharpe ratio: Return per unit of total volatility	-0.88	—	—
Sortino ratio: Return per unit of downside risk	-1.20	—	—
Omega ratio: Gain probability vs. loss probability	0.85	—	—
Calmar ratio: Return relative to maximum drawdown	-0.77	—	—
Martin ratio: Return relative to average drawdown	-1.35	—	—

Drawdowns

MSFL vs. GEVG - Drawdown Comparison

The maximum MSFL drawdown since its inception was -62.08%, which is greater than GEVG's maximum drawdown of -45.50%. Use the drawdown chart below to compare losses from any high point for MSFL and GEVG.

Drawdown Indicators

	MSFL	GEVG	Difference
Max Drawdown Largest peak-to-trough decline	-62.08%	-45.50%	-16.58%
Max Drawdown (1Y) Largest decline over 1 year	-62.08%	—	—
Current Drawdown Current decline from peak	-53.85%	-17.40%	-36.45%
Average Drawdown Average peak-to-trough decline	-23.01%	-11.68%	-11.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.25%	—	—

Volatility

Volatility by Period

	MSFL	GEVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.82%	—	—
Volatility (6M) Calculated over the trailing 6-month period	48.85%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	54.16%	102.89%	-48.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.53%	102.89%	-52.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.53%	102.89%	-52.36%

MSFL vs. GEVG - Expense Ratio Comparison

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

Dividends

MSFL vs. GEVG - Dividend Comparison

Neither MSFL nor GEVG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MSFL and GEVG in my portfolio?

MSFL and GEVG have a correlation of -0.09, 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 GEVG?

On fees, GEVG 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 GEVG?

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

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

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

What is the main difference between MSFL and GEVG?

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