MVLL vs. CLIP

Last updated Jun 4, 2026

MVLL (GraniteShares 2x Long MRVL Daily ETF) and CLIP (Global X 1-3 Month T-Bill ETF) are both exchange-traded funds - MVLL is a Leveraged Equities fund tracking the Marvell Technology Inc. (MRVL), while CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD. Both are passively managed. Over the past year, MVLL returned 1215.17% vs 3.96% for CLIP. At a correlation of -0.10, they often move in opposite directions. MVLL charges 1.50%/yr vs 0.07%/yr for CLIP.

Performance

MVLL vs. CLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MRVL Daily ETF (MVLL) and Global X 1-3 Month T-Bill ETF (CLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVLL achieves a 842.68% return, which is significantly higher than CLIP's 1.50% return.

MVLL

• 1D: 7.14%
• 1M: 201.84%
• YTD: 842.68%
• 6M: 558.01%
• 1Y: 1,215.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLIP

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.50%
• 6M: 1.82%
• 1Y: 3.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MVLL vs. CLIP - Yearly Performance Comparison

	2026 (YTD)	2025
MVLL GraniteShares 2x Long MRVL Daily ETF	842.68%	-10.19%
CLIP Global X 1-3 Month T-Bill ETF	1.50%	3.43%

Correlation

The correlation between MVLL and CLIP 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 Mar 10, 2025	-0.10

Return for Risk

MVLL vs. CLIP — Risk / Return Rank

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

MVLL

MVLL Risk / Return Rank: 96
MVLL Sharpe Ratio Rank: 99
MVLL Sortino Ratio Rank: 94
MVLL Omega Ratio Rank: 92
MVLL Calmar Ratio Rank: 99
MVLL Martin Ratio Rank: 97

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

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. CLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MRVL Daily ETF (MVLL) and Global X 1-3 Month T-Bill ETF (CLIP). 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.

	MVLL	CLIP	Difference
Sharpe ratio: Return per unit of total volatility	9.23	17.26	-8.03
Sortino ratio: Return per unit of downside risk	4.79	72.02	-67.23
Omega ratio: Gain probability vs. loss probability	1.63	20.66	-19.03
Calmar ratio: Return relative to maximum drawdown	25.11	142.22	-117.11
Martin ratio: Return relative to average drawdown	52.27	1,151.15	-1,098.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MVLL vs. CLIP - Sharpe Ratio Comparison

The current MVLL Sharpe Ratio is 9.23, which is lower than the CLIP Sharpe Ratio of 17.26. The chart below compares the historical Sharpe Ratios of MVLL and CLIP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MVLL	CLIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	9.23	17.26	-8.03
Sharpe Ratio (All Time) Calculated using the full available price history	3.33	10.71	-7.38

Drawdowns

MVLL vs. CLIP - Drawdown Comparison

The maximum MVLL drawdown since its inception was -59.02%, which is greater than CLIP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for MVLL and CLIP.

Drawdown Indicators

	MVLL	CLIP	Difference
Max Drawdown Largest peak-to-trough decline	-59.02%	-0.08%	-58.94%
Max Drawdown (1Y) Largest decline over 1 year	-48.93%	-0.03%	-48.90%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-22.42%	-0.00%	-22.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.46%	0.00%	+23.46%

Volatility

MVLL vs. CLIP - Volatility Comparison

GraniteShares 2x Long MRVL Daily ETF (MVLL) has a higher volatility of 60.78% compared to Global X 1-3 Month T-Bill ETF (CLIP) at 0.06%. This indicates that MVLL's price experiences larger fluctuations and is considered to be riskier than CLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVLL	CLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	60.78%	0.06%	+60.72%
Volatility (6M) Calculated over the trailing 6-month period	96.08%	0.14%	+95.94%
Volatility (1Y) Calculated over the trailing 1-year period	133.11%	0.23%	+132.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	139.63%	0.44%	+139.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	139.63%	0.44%	+139.19%

MVLL vs. CLIP - Expense Ratio Comparison

MVLL has a 1.50% expense ratio, which is higher than CLIP's 0.07% expense ratio.

Dividends

MVLL vs. CLIP - Dividend Comparison

MVLL has not paid dividends to shareholders, while CLIP's dividend yield for the trailing twelve months is around 3.91%.

Position	TTM	2025	2024	2023
CLIP Global X 1-3 Month T-Bill ETF	3.91%	4.14%	5.11%	2.75%
MVLL GraniteShares 2x Long MRVL Daily ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MVLL and CLIP in my portfolio?

MVLL and CLIP 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, MVLL or CLIP?

MVLL has higher volatility (60.78%) compared to CLIP (0.06%). In terms of maximum drawdown, MVLL dropped -59.02% vs CLIP's -0.08%.

Which ETF is better, MVLL or CLIP?

On 1-year performance, MVLL leads with 1215.17% vs 3.96% for CLIP. On fees, CLIP is cheaper at 0.07% per year. On volatility, CLIP has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVLL or CLIP?

Over the 1-year period, MVLL has performed better with a 1215.17% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVLL or CLIP?

CLIP is cheaper with a 0.07% expense ratio, compared with 1.50% for MVLL.

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

CLIP has the higher dividend yield at 3.91%, compared with 0.00% for MVLL.

What is the main difference between MVLL and CLIP?

MVLL is categorized as Leveraged Equities, while CLIP is Ultrashort Bond. MVLL tracks Marvell Technology Inc. (MRVL), while CLIP tracks Solactive 1-3 month US T-Bill Index - USD. They also come from different issuers: GraniteShares and Global X. Their fees differ too: 1.50% for MVLL and 0.07% for CLIP.

Which has better risk-adjusted returns?

CLIP currently has the higher Sharpe Ratio (17.26 vs 9.23), 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.