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. MSTP is actively managed, while DJP is passively managed. Over the past year, MSTP returned -96.14% vs 26.02% for DJP. At a 0.00 correlation, their price movements are largely independent. 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 -69.31% return, which is significantly lower than DJP's 17.18% return.
MSTP
- 1D
- -9.68%
- 1M
- -60.57%
- YTD
- -69.31%
- 6M
- -71.78%
- 1Y
- -96.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DJP
- 1D
- -1.45%
- 1M
- -10.97%
- YTD
- 17.18%
- 6M
- 15.04%
- 1Y
- 26.02%
- 3Y*
- 12.62%
- 5Y*
- 10.72%
- 10Y*
- 6.24%
MSTP vs. DJP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSTP GraniteShares 2x Long MSTR Daily ETF | -69.31% | -89.07% |
DJP iPath Bloomberg Commodity Index Total Return ETN | 17.18% | 9.49% |
Correlation
The correlation between MSTP and DJP is 0.00, 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 (1Y) Calculated over the trailing 1-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Jun 10, 2025 | 0.00 |
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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 | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -3.98 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.25 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 1.78 | -2.77 |
| Martin ratioReturn relative to average drawdown | -1.24 | 6.99 | -8.23 |
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Drawdowns
MSTP vs. DJP - Drawdown Comparison
The maximum MSTP drawdown since its inception was -97.39%, 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 | -97.39% | -78.35% | -19.04% |
Max Drawdown (1Y)Largest decline over 1 year | -97.39% | -14.66% | -82.73% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.66% | — |
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 | -97.39% | -39.74% | -57.65% |
Average DrawdownAverage peak-to-trough decline | -69.72% | -50.82% | -18.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 77.44% | 3.76% | +73.68% |
Volatility
MSTP vs. DJP - Volatility Comparison
GraniteShares 2x Long MSTR Daily ETF (MSTP) has a higher volatility of 44.19% compared to iPath Bloomberg Commodity Index Total Return ETN (DJP) at 4.23%. 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 | 44.19% | 4.23% | +39.96% |
Volatility (6M)Calculated over the trailing 6-month period | 115.53% | 16.88% | +98.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 143.94% | 19.24% | +124.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 141.80% | 18.95% | +122.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 141.80% | 17.06% | +124.74% |
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 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTP has higher volatility (44.19%) compared to DJP (4.23%). In terms of maximum drawdown, MSTP dropped -97.39% vs DJP's -78.35%.
On 1-year performance, DJP leads with 26.02% vs -96.14% for MSTP. On fees, DJP is cheaper at 0.70% per year. On volatility, DJP has been the lower-risk option at 4.23%. 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 26.02% return vs -96.14%. 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 Capital. Their fees differ too: 1.50% for MSTP and 0.70% for DJP.
DJP currently has the higher Sharpe Ratio (1.37 vs -0.67), 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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