MSTP vs. DJP
MSTP (GraniteShares 2x Long MSTR Daily ETF) and DJP (iPath Bloomberg Commodity Index Total Return ETN) are both exchange-traded funds - MSTP is a Leveraged Equities fund actively managed by GraniteShares, while DJP is a Commodities fund tracking the Bloomberg Commodity Index Total Return. MSTP is actively managed, while DJP is passively managed. Over the past year, MSTP returned -96.78% vs 38.64% for DJP. Their -0.02 correlation means they have often moved in opposite directions in the past. MSTP charges 1.50%/yr vs 0.70%/yr for DJP.
Performance
MSTP vs. DJP - Performance Comparison
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Returns By Period
In the year-to-date period, MSTP achieves a -75.07% return, which is significantly lower than DJP's 23.27% return.
MSTP
- 1D
- 1.79%
- 1M
- -8.57%
- 6M
- -63.05%
- YTD
- -75.07%
- 1Y
- -96.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -95.61%
DJP
- 1D
- 1.00%
- 1M
- 3.74%
- 6M
- 12.01%
- YTD
- 23.27%
- 1Y
- 38.64%
- 3Y*
- 12.80%
- 5Y*
- 11.22%
- 10Y*
- 7.23%
- ALL TIME*
- -0.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.11M | $2.50M | $3.44M | |
| $590.55K | $817.36K | $1.08M |
MSTP vs. DJP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSTP GraniteShares 2x Long MSTR Daily ETF | -75.07% | -89.07% |
DJP iPath Bloomberg Commodity Index Total Return ETN | 23.27% | 9.49% |
Correlation
The correlation between MSTP and DJP is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.02 |
Correlation (All Time) Calculated using the full available price history since Jun 10, 2025 | -0.02 |
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Return for Risk
MSTP vs. DJP — Risk / Return Rank
MSTP
DJP
MSTP vs. DJP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MSTR Daily ETF (MSTP) and iPath Bloomberg Commodity Index Total Return ETN (DJP). 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.
| MSTP | DJP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.60 | ||
| Sortino ratioReturn per unit of downside risk | -4.70 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.34 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 2.36 | -3.35 |
| Martin ratioReturn relative to average drawdown | -1.20 | 7.38 | -8.58 |
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Drawdowns
MSTP vs. DJP - Drawdown Comparison
The maximum MSTP drawdown since its inception was -98.40%, which is greater than DJP's maximum drawdown of -78.35%. Use the drawdown chart below to compare losses from any high point for MSTP and DJP.
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Drawdown Indicators
| MSTP | DJP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.40% | -78.35% | -20.05% |
Max Drawdown (1Y)Largest decline over 1 year | -97.87% | -16.42% | -81.45% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.42% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.36% | — |
Current DrawdownCurrent decline from peak | -97.88% | -36.61% | -61.27% |
Average DrawdownAverage peak-to-trough decline | -72.65% | -50.73% | -21.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 80.46% | 5.25% | +75.21% |
Volatility
MSTP vs. DJP - Volatility Comparison
GraniteShares 2x Long MSTR Daily ETF (MSTP) has a higher volatility of 32.69% compared to iPath Bloomberg Commodity Index Total Return ETN (DJP) at 6.15%. This indicates that MSTP's price experiences larger fluctuations and is considered to be riskier than DJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSTP | DJP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.69% | 6.15% | +26.54% |
Volatility (6M)Calculated over the trailing 6-month period | 119.88% | 15.55% | +104.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 148.84% | 19.87% | +128.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 143.92% | 19.04% | +124.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 143.92% | 17.10% | +126.82% |
MSTP vs. DJP - Expense Ratio Comparison
MSTP has a 1.50% expense ratio, which is higher than DJP's 0.70% expense ratio.
Dividends
MSTP vs. DJP - Dividend Comparison
Neither MSTP nor DJP has paid dividends to shareholders.
Frequently Asked Questions
MSTP and DJP have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTP has higher volatility (32.69%) compared to DJP (6.15%). In terms of maximum drawdown, MSTP dropped -98.40% vs DJP's -78.35%.
On 1-year performance, DJP leads with 38.64% vs -96.78% for MSTP. On fees, DJP is cheaper at 0.70% per year. On volatility, DJP has been the lower-risk option at 6.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DJP has performed better with a 38.64% return vs -96.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DJP is cheaper with a 0.70% expense ratio, compared with 1.50% for MSTP.
MSTP and DJP have nearly identical dividend yields, around 0.00%.
MSTP is categorized as Leveraged Equities, while DJP is Commodities. They also come from different issuers: GraniteShares and Barclays Bank PLC. Their fees differ too: 1.50% for MSTP and 0.70% for DJP.
DJP currently has the higher Sharpe Ratio (1.95 vs -0.65), 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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