MSMR vs. MFUL

Last updated Aug 2, 2026

MSMR (McElhenny Sheffield Managed Risk ETF) and MFUL (Mindful Conservative ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past 3 years, MSMR returned 12.53%/yr vs 4.38%/yr for MFUL. Their 0.53 correlation means they have sometimes moved together and sometimes differently. MSMR charges 0.97%/yr vs 1.10%/yr for MFUL.

Performance

MSMR vs. MFUL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in McElhenny Sheffield Managed Risk ETF (MSMR) and Mindful Conservative ETF (MFUL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSMR achieves a 0.14% return, which is significantly lower than MFUL's 2.75% return.

MSMR

• 1D: -1.57%
• 1M: -2.13%
• 6M: -1.62%
• YTD: 0.14%
• 1Y: 11.18%
• 3Y*: 12.53%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.59%

MFUL

• 1D: -0.03%
• 1M: -0.18%
• 6M: 1.42%
• YTD: 2.75%
• 1Y: 4.79%
• 3Y*: 4.38%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -0.08%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MFUL Mindful Conservative ETF	$6.81K	$15.69K	$11.16K
MSMR McElhenny Sheffield Managed Risk ETF	$432.07K	$432.95K	$679.96K

MSMR vs. MFUL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MSMR McElhenny Sheffield Managed Risk ETF	0.14%	17.06%	21.58%	18.77%	-11.88%	-1.25%
MFUL Mindful Conservative ETF	2.75%	4.51%	5.36%	2.24%	-12.46%	-0.93%

Correlation

The correlation between MSMR and MFUL is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (All Time) Calculated using the full available price history since Nov 17, 2021	0.53

The correlation between MSMR and MFUL shifts across timeframes, from 0.53 (all time) to 0.65 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MSMR vs. MFUL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MSMR

MSMR Risk / Return Rank: 31
MSMR Sharpe Ratio Rank: 30
MSMR Sortino Ratio Rank: 29
MSMR Omega Ratio Rank: 29
MSMR Calmar Ratio Rank: 33
MSMR Martin Ratio Rank: 33

MFUL

MFUL Risk / Return Rank: 42
MFUL Sharpe Ratio Rank: 43
MFUL Sortino Ratio Rank: 40
MFUL Omega Ratio Rank: 42
MFUL Calmar Ratio Rank: 39
MFUL Martin Ratio Rank: 45

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MSMR vs. MFUL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for McElhenny Sheffield Managed Risk ETF (MSMR) and Mindful Conservative ETF (MFUL). 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.

	MSMR	MFUL	Difference
Sharpe ratio: Return per unit of total volatility	0.74	1.07	-0.33
Sortino ratio: Return per unit of downside risk	1.11	1.49	-0.38
Omega ratio: Gain probability vs. loss probability	1.14	1.20	-0.06
Calmar ratio: Return relative to maximum drawdown	1.13	1.38	-0.24
Martin ratio: Return relative to average drawdown	3.14	4.99	-1.85

MSMR vs. MFUL - Sharpe Ratio Comparison

The current MSMR Sharpe Ratio is 0.74, which is lower than the MFUL Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of MSMR and MFUL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MSMR vs. MFUL - Drawdown Comparison

The maximum MSMR drawdown since its inception was -14.86%, smaller than the maximum MFUL drawdown of -16.41%. Use the drawdown chart below to compare losses from any high point for MSMR and MFUL.

Drawdown Indicators

	MSMR	MFUL	Difference
Max Drawdown Largest peak-to-trough decline	-14.86%	-16.41%	+1.55%
Max Drawdown (1Y) Largest decline over 1 year	-8.43%	-3.36%	-5.07%
Max Drawdown (3Y) Largest decline over 3 years	-8.84%	-4.74%	-4.10%
Current Drawdown Current decline from peak	-7.76%	-0.97%	-6.79%
Average Drawdown Average peak-to-trough decline	-5.15%	-9.20%	+4.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	0.93%	+2.11%

Volatility

MSMR vs. MFUL - Volatility Comparison

McElhenny Sheffield Managed Risk ETF (MSMR) has a higher volatility of 3.91% compared to Mindful Conservative ETF (MFUL) at 1.07%. This indicates that MSMR's price experiences larger fluctuations and is considered to be riskier than MFUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSMR	MFUL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.91%	1.07%	+2.84%
Volatility (6M) Calculated over the trailing 6-month period	9.50%	3.58%	+5.92%
Volatility (1Y) Calculated over the trailing 1-year period	12.86%	4.31%	+8.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.36%	4.27%	+6.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.36%	4.27%	+6.09%

MSMR vs. MFUL - Expense Ratio Comparison

MSMR has a 0.97% expense ratio, which is lower than MFUL's 1.10% expense ratio.

Dividends

MSMR vs. MFUL - Dividend Comparison

MSMR's dividend yield for the trailing twelve months is around 1.86%, less than MFUL's 2.41% yield.

Position	TTM	2025	2024	2023	2022	2021
MFUL Mindful Conservative ETF	2.41%	3.31%	2.59%	5.00%	0.29%	0.00%
MSMR McElhenny Sheffield Managed Risk ETF	1.86%	1.51%	2.26%	0.81%	0.65%	0.07%

Frequently Asked Questions

Can I hold both MSMR and MFUL in my portfolio?

MSMR and MFUL have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSMR or MFUL?

MSMR has higher volatility (3.91%) compared to MFUL (1.07%). In terms of maximum drawdown, MSMR dropped -14.86% vs MFUL's -16.41%.

Which ETF is better, MSMR or MFUL?

On 3-year performance, MSMR leads with 12.53% vs 4.38% for MFUL. On fees, MSMR is cheaper at 0.97% per year. On volatility, MFUL has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSMR or MFUL?

Over the 3-year period, MSMR has performed better with a 12.53% return vs 4.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSMR or MFUL?

MSMR is cheaper with a 0.97% expense ratio, compared with 1.10% for MFUL.

Which ETF pays a higher dividend yield, MSMR or MFUL?

MFUL has the higher dividend yield at 2.41%, compared with 1.86% for MSMR.

What is the main difference between MSMR and MFUL?

They also come from different issuers: McElhenny Sheffield and Mohr. Their fees differ too: 0.97% for MSMR and 1.10% for MFUL.

Which has better risk-adjusted returns?

MFUL currently has the higher Sharpe Ratio (1.07 vs 0.74), 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.