MVLL vs. AMDL

Last updated Jun 24, 2026

MVLL (GraniteShares 2x Long MRVL Daily ETF) and AMDL (GraniteShares 2x Long AMD Daily ETF) are both Leveraged Equities funds from GraniteShares. MVLL is passively managed, while AMDL is actively managed. Over the past year, MVLL returned 686.37% vs 835.61% for AMDL. A 0.57 correlation means they provide meaningful diversification when combined. MVLL charges 1.50%/yr vs 1.15%/yr for AMDL.

Performance

MVLL vs. AMDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MRVL Daily ETF (MVLL) and GraniteShares 2x Long AMD Daily ETF (AMDL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVLL achieves a 610.13% return, which is significantly higher than AMDL's 330.80% return.

MVLL

• 1D: -18.97%
• 1M: 63.90%
• YTD: 610.13%
• 6M: 563.50%
• 1Y: 686.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMDL

• 1D: -11.53%
• 1M: 15.74%
• YTD: 330.80%
• 6M: 327.23%
• 1Y: 835.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MVLL vs. AMDL - Yearly Performance Comparison

	2026 (YTD)	2025
MVLL GraniteShares 2x Long MRVL Daily ETF	610.13%	-8.44%
AMDL GraniteShares 2x Long AMD Daily ETF	330.80%	218.65%

Correlation

The correlation between MVLL and AMDL is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025	0.57

The correlation between MVLL and AMDL has been stable across timeframes, ranging from 0.55 to 0.57 - a consistent structural relationship.

MVLL vs. AMDL - Sectors Allocation Comparison

Sectors	MVLL	AMDL
Technology	66.6%	66.6%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

MVLL vs. AMDL — Risk / Return Rank

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

MVLL

MVLL Risk / Return Rank: 93
MVLL Sharpe Ratio Rank: 98
MVLL Sortino Ratio Rank: 87
MVLL Omega Ratio Rank: 87
MVLL Calmar Ratio Rank: 98
MVLL Martin Ratio Rank: 95

AMDL

AMDL Risk / Return Rank: 94
AMDL Sharpe Ratio Rank: 99
AMDL Sortino Ratio Rank: 91
AMDL Omega Ratio Rank: 89
AMDL Calmar Ratio Rank: 98
AMDL Martin Ratio Rank: 95

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.

MVLL vs. AMDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MRVL Daily ETF (MVLL) and GraniteShares 2x Long AMD Daily ETF (AMDL). 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.

	MVLL	AMDL	Difference
Sharpe ratio: Return per unit of total volatility	4.78	6.28	-1.50
Sortino ratio: Return per unit of downside risk	3.64	4.08	-0.44
Omega ratio: Gain probability vs. loss probability	1.50	1.53	-0.03
Calmar ratio: Return relative to maximum drawdown	14.16	15.04	-0.88
Martin ratio: Return relative to average drawdown	28.61	29.24	-0.63

MVLL vs. AMDL - Sharpe Ratio Comparison

The current MVLL Sharpe Ratio is 4.78, which is comparable to the AMDL Sharpe Ratio of 6.28. The chart below compares the historical Sharpe Ratios of MVLL and AMDL, 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

MVLL vs. AMDL - Drawdown Comparison

The maximum MVLL drawdown since its inception was -59.02%, smaller than the maximum AMDL drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for MVLL and AMDL.

Drawdown Indicators

	MVLL	AMDL	Difference
Max Drawdown Largest peak-to-trough decline	-59.02%	-88.63%	+29.61%
Max Drawdown (1Y) Largest decline over 1 year	-48.93%	-56.13%	+7.20%
Current Drawdown Current decline from peak	-31.21%	-13.00%	-18.21%
Average Drawdown Average peak-to-trough decline	-22.40%	-47.74%	+25.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.17%	28.81%	-4.64%

Volatility

MVLL vs. AMDL - Volatility Comparison

GraniteShares 2x Long MRVL Daily ETF (MVLL) has a higher volatility of 87.05% compared to GraniteShares 2x Long AMD Daily ETF (AMDL) at 48.98%. This indicates that MVLL's price experiences larger fluctuations and is considered to be riskier than AMDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVLL	AMDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	87.05%	48.98%	+38.07%
Volatility (6M) Calculated over the trailing 6-month period	113.21%	102.19%	+11.02%
Volatility (1Y) Calculated over the trailing 1-year period	145.20%	134.44%	+10.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	147.26%	118.50%	+28.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	147.26%	118.50%	+28.76%

MVLL vs. AMDL - Expense Ratio Comparison

MVLL has a 1.50% expense ratio, which is higher than AMDL's 1.15% expense ratio.

Dividends

MVLL vs. AMDL - Dividend Comparison

Neither MVLL nor AMDL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MVLL and AMDL in my portfolio?

MVLL and AMDL have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVLL or AMDL?

MVLL has higher volatility (87.05%) compared to AMDL (48.98%). In terms of maximum drawdown, MVLL dropped -59.02% vs AMDL's -88.63%.

Which ETF is better, MVLL or AMDL?

On 1-year performance, AMDL leads with 835.61% vs 686.37% for MVLL. On fees, AMDL is cheaper at 1.15% per year. On volatility, AMDL has been the lower-risk option at 48.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVLL or AMDL?

Over the 1-year period, AMDL has performed better with a 835.61% return vs 686.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVLL or AMDL?

AMDL is cheaper with a 1.15% expense ratio, compared with 1.50% for MVLL.

Which ETF pays a higher dividend yield, MVLL or AMDL?

MVLL and AMDL have nearly identical dividend yields, around 0.00%.

What is the main difference between MVLL and AMDL?

Their fees differ too: 1.50% for MVLL and 1.15% for AMDL.

Which has better risk-adjusted returns?

AMDL currently has the higher Sharpe Ratio (6.28 vs 4.78), 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.