MSTP vs. ILS

Last updated Jun 25, 2026

MSTP (GraniteShares 2x Long MSTR Daily ETF) and ILS (Brookmont Catastrophic Bond ETF) are both exchange-traded funds - MSTP is a Leveraged Equities fund actively managed by GraniteShares, while ILS is a Nontraditional Bonds fund actively managed by Brookmont. Both are actively managed. Over the past year, MSTP returned -97.00% vs 5.66% for ILS. At a correlation of -0.11, they often move in opposite directions. MSTP charges 1.50%/yr vs 1.58%/yr for ILS.

Performance

MSTP vs. ILS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MSTR Daily ETF (MSTP) and Brookmont Catastrophic Bond ETF (ILS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSTP achieves a -75.04% return, which is significantly lower than ILS's 0.48% return.

MSTP

• 1D: -18.67%
• 1M: -67.93%
• YTD: -75.04%
• 6M: -77.32%
• 1Y: -97.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ILS

• 1D: -1.75%
• 1M: -0.51%
• YTD: 0.48%
• 6M: 0.53%
• 1Y: 5.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTP vs. ILS - Yearly Performance Comparison

	2026 (YTD)	2025
MSTP GraniteShares 2x Long MSTR Daily ETF	-75.04%	-89.07%
ILS Brookmont Catastrophic Bond ETF	0.48%	5.31%

Correlation

The correlation between MSTP and ILS is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.11
Correlation (All Time) Calculated using the full available price history since Jun 10, 2025	-0.11

Return for Risk

MSTP vs. ILS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MSTP

MSTP Risk / Return Rank: 2
MSTP Sharpe Ratio Rank: 4
MSTP Sortino Ratio Rank: 0
MSTP Omega Ratio Rank: 0
MSTP Calmar Ratio Rank: 0
MSTP Martin Ratio Rank: 3

ILS

ILS Risk / Return Rank: 74
ILS Sharpe Ratio Rank: 62
ILS Sortino Ratio Rank: 57
ILS Omega Ratio Rank: 83
ILS Calmar Ratio Rank: 72
ILS Martin Ratio Rank: 96

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.

MSTP vs. ILS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MSTR Daily ETF (MSTP) and Brookmont Catastrophic Bond ETF (ILS). 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	ILS	Difference
Sharpe ratio: Return per unit of total volatility	-0.67	1.83	-2.50
Sortino ratio: Return per unit of downside risk	-2.32	2.42	-4.74
Omega ratio: Gain probability vs. loss probability	0.76	1.44	-0.68
Calmar ratio: Return relative to maximum drawdown	-0.99	3.25	-4.25
Martin ratio: Return relative to average drawdown	-1.25	30.49	-31.73

MSTP vs. ILS - Sharpe Ratio Comparison

The current MSTP Sharpe Ratio is -0.67, which is lower than the ILS Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of MSTP and ILS, 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

MSTP vs. ILS - Drawdown Comparison

The maximum MSTP drawdown since its inception was -97.87%, which is greater than ILS's maximum drawdown of -2.46%. Use the drawdown chart below to compare losses from any high point for MSTP and ILS.

Drawdown Indicators

	MSTP	ILS	Difference
Max Drawdown Largest peak-to-trough decline	-97.87%	-2.46%	-95.41%
Max Drawdown (1Y) Largest decline over 1 year	-97.87%	-1.75%	-96.12%
Current Drawdown Current decline from peak	-97.87%	-1.75%	-96.12%
Average Drawdown Average peak-to-trough decline	-69.83%	-0.54%	-69.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	77.68%	0.19%	+77.49%

Volatility

MSTP vs. ILS - Volatility Comparison

GraniteShares 2x Long MSTR Daily ETF (MSTP) has a higher volatility of 46.96% compared to Brookmont Catastrophic Bond ETF (ILS) at 1.95%. This indicates that MSTP's price experiences larger fluctuations and is considered to be riskier than ILS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTP	ILS	Difference
Volatility (1M) Calculated over the trailing 1-month period	46.96%	1.95%	+45.01%
Volatility (6M) Calculated over the trailing 6-month period	116.92%	2.45%	+114.47%
Volatility (1Y) Calculated over the trailing 1-year period	145.04%	3.12%	+141.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	142.60%	4.09%	+138.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	142.60%	4.09%	+138.51%

MSTP vs. ILS - Expense Ratio Comparison

MSTP has a 1.50% expense ratio, which is lower than ILS's 1.58% expense ratio.

Dividends

MSTP vs. ILS - Dividend Comparison

MSTP has not paid dividends to shareholders, while ILS's dividend yield for the trailing twelve months is around 8.20%.

Position	TTM	2025
ILS Brookmont Catastrophic Bond ETF	8.20%	6.06%
MSTP GraniteShares 2x Long MSTR Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSTP and ILS in my portfolio?

MSTP and ILS have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSTP or ILS?

MSTP has higher volatility (46.96%) compared to ILS (1.95%). In terms of maximum drawdown, MSTP dropped -97.87% vs ILS's -2.46%.

Which ETF is better, MSTP or ILS?

On 1-year performance, ILS leads with 5.66% vs -97.00% for MSTP. On fees, MSTP is cheaper at 1.50% per year. On volatility, ILS has been the lower-risk option at 1.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSTP or ILS?

Over the 1-year period, ILS has performed better with a 5.66% return vs -97.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTP or ILS?

MSTP is cheaper with a 1.50% expense ratio, compared with 1.58% for ILS.

Which ETF pays a higher dividend yield, MSTP or ILS?

ILS has the higher dividend yield at 8.20%, compared with 0.00% for MSTP.

What is the main difference between MSTP and ILS?

MSTP is categorized as Leveraged Equities, while ILS is Nontraditional Bonds. They also come from different issuers: GraniteShares and Brookmont. Their fees differ too: 1.50% for MSTP and 1.58% for ILS.

Which has better risk-adjusted returns?

ILS currently has the higher Sharpe Ratio (1.83 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.