MTUL vs. USML
Compare and contrast key facts about ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) and ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN (USML).
MTUL and USML are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MTUL is a passively managed fund by UBS that tracks the performance of the MSCI USA Momentum Index. It was launched on Feb 5, 2021. USML is a passively managed fund by UBS that tracks the performance of the MSCI USA Minimum Volatility Index. It was launched on Feb 4, 2021. Both MTUL and USML are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
MTUL vs. USML - Performance Comparison
Loading graphics...
MTUL vs. USML - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN | -10.58% | 27.42% | 58.70% | 10.66% | -37.97% | 7.00% |
USML ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN | -4.08% | 9.33% | 23.97% | 11.37% | -22.87% | 42.12% |
Returns By Period
In the year-to-date period, MTUL achieves a -10.58% return, which is significantly lower than USML's -4.08% return.
MTUL
- 1D
- 9.39%
- 1M
- -11.99%
- YTD
- -10.58%
- 6M
- -14.38%
- 1Y
- 20.15%
- 3Y*
- 30.55%
- 5Y*
- 8.61%
- 10Y*
- —
USML
- 1D
- 2.10%
- 1M
- -9.94%
- YTD
- -4.08%
- 6M
- -6.40%
- 1Y
- -5.09%
- 3Y*
- 12.95%
- 5Y*
- 8.41%
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
MTUL vs. USML - Expense Ratio Comparison
Both MTUL and USML have an expense ratio of 0.95%.
Return for Risk
MTUL vs. USML — Risk / Return Rank
MTUL
USML
MTUL vs. USML - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) and ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN (USML). 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.
| MTUL | USML | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.43 | -0.21 | +0.64 |
Sortino ratioReturn per unit of downside risk | 0.90 | -0.13 | +1.03 |
Omega ratioGain probability vs. loss probability | 1.13 | 0.98 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 0.82 | -0.20 | +1.01 |
Martin ratioReturn relative to average drawdown | 3.29 | -0.80 | +4.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| MTUL | USML | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.43 | -0.21 | +0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.34 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.38 | -0.25 |
Correlation
The correlation between MTUL and USML is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MTUL vs. USML - Dividend Comparison
Neither MTUL nor USML has paid dividends to shareholders.
Drawdowns
MTUL vs. USML - Drawdown Comparison
The maximum MTUL drawdown since its inception was -56.83%, which is greater than USML's maximum drawdown of -35.34%. Use the drawdown chart below to compare losses from any high point for MTUL and USML.
Loading graphics...
Drawdown Indicators
| MTUL | USML | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.83% | -35.34% | -21.49% |
Max Drawdown (1Y)Largest decline over 1 year | -26.88% | -17.38% | -9.50% |
Max Drawdown (5Y)Largest decline over 5 years | -56.83% | -35.34% | -21.49% |
Current DrawdownCurrent decline from peak | -16.72% | -10.28% | -6.44% |
Average DrawdownAverage peak-to-trough decline | -23.35% | -10.54% | -12.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.69% | 4.25% | +2.44% |
Volatility
MTUL vs. USML - Volatility Comparison
ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) has a higher volatility of 19.54% compared to ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN (USML) at 5.94%. This indicates that MTUL's price experiences larger fluctuations and is considered to be riskier than USML based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| MTUL | USML | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.54% | 5.94% | +13.60% |
Volatility (6M)Calculated over the trailing 6-month period | 34.36% | 12.05% | +22.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.60% | 24.47% | +22.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.98% | 24.55% | +17.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.96% | 24.54% | +18.42% |