MSTP vs. VALG
MSTP (GraniteShares 2x Long MSTR Daily ETF) and VALG (Leverage Shares 2X Long VALE Daily ETF) are both Leveraged Equities funds. MSTP is actively managed, while VALG is passively managed. At a 0.26 correlation, their price movements are largely independent. MSTP charges 1.50%/yr vs 0.75%/yr for VALG.
Performance
MSTP vs. VALG - Performance Comparison
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Returns By Period
In the year-to-date period, MSTP achieves a -74.79% return, which is significantly lower than VALG's 9.11% return.
MSTP
- 1D
- 11.40%
- 1M
- -43.12%
- 6M
- -80.15%
- YTD
- -74.79%
- 1Y
- -97.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VALG
- 1D
- 6.09%
- 1M
- -15.01%
- 6M
- -6.08%
- YTD
- 9.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTP vs. VALG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSTP GraniteShares 2x Long MSTR Daily ETF | -74.79% | -11.78% |
VALG Leverage Shares 2X Long VALE Daily ETF | 9.11% | 1.57% |
Correlation
The correlation between MSTP and VALG is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025 | 0.26 |
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Return for Risk
MSTP vs. VALG — Risk / Return Rank
MSTP
VALG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MSTP vs. VALG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MSTR Daily ETF (MSTP) and Leverage Shares 2X Long VALE Daily ETF (VALG). 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 | VALG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.74 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | — | — |
| Martin ratioReturn relative to average drawdown | -1.21 | — | — |
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Drawdowns
MSTP vs. VALG - Drawdown Comparison
The maximum MSTP drawdown since its inception was -98.40%, which is greater than VALG's maximum drawdown of -41.01%. Use the drawdown chart below to compare losses from any high point for MSTP and VALG.
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Drawdown Indicators
| MSTP | VALG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.40% | -41.01% | -57.39% |
Max Drawdown (1Y)Largest decline over 1 year | -98.40% | — | — |
Current DrawdownCurrent decline from peak | -97.85% | -36.85% | -61.00% |
Average DrawdownAverage peak-to-trough decline | -71.17% | -15.47% | -55.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 80.80% | — | — |
Volatility
MSTP vs. VALG - Volatility Comparison
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Volatility by Period
| MSTP | VALG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 53.99% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 122.47% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 148.74% | 73.64% | +75.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 145.44% | 73.64% | +71.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 145.44% | 73.64% | +71.80% |
MSTP vs. VALG - Expense Ratio Comparison
MSTP has a 1.50% expense ratio, which is higher than VALG's 0.75% expense ratio.
Dividends
MSTP vs. VALG - Dividend Comparison
Neither MSTP nor VALG has paid dividends to shareholders.
Frequently Asked Questions
MSTP and VALG have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VALG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VALG is cheaper with a 0.75% expense ratio, compared with 1.50% for MSTP.
MSTP and VALG have nearly identical dividend yields, around 0.00%.
They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.50% for MSTP and 0.75% for VALG.
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