MVLL vs. SOFX

Last updated Jun 24, 2026

MVLL (GraniteShares 2x Long MRVL Daily ETF) and SOFX (Defiance Daily Target 2X Long SOFI ETF) are both Leveraged Equities funds. MVLL is passively managed, while SOFX is actively managed. Over the past year, MVLL returned 686.37% vs -26.37% for SOFX. At a 0.37 correlation, their price movements are largely independent. MVLL charges 1.50%/yr vs 1.29%/yr for SOFX.

Performance

MVLL vs. SOFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MRVL Daily ETF (MVLL) and Defiance Daily Target 2X Long SOFI ETF (SOFX). 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 SOFX's -66.17% return.

MVLL

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

SOFX

• 1D: 2.02%
• 1M: 16.48%
• YTD: -66.17%
• 6M: -68.88%
• 1Y: -26.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MVLL vs. SOFX - Yearly Performance Comparison

	2026 (YTD)	2025
MVLL GraniteShares 2x Long MRVL Daily ETF	610.13%	-8.44%
SOFX Defiance Daily Target 2X Long SOFI ETF	-66.17%	166.32%

Correlation

The correlation between MVLL and SOFX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025	0.37

MVLL vs. SOFX - Sectors Allocation Comparison

Sectors	MVLL	SOFX
Technology	66.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

MVLL vs. SOFX — 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

SOFX

SOFX Risk / Return Rank: 8
SOFX Sharpe Ratio Rank: 7
SOFX Sortino Ratio Rank: 11
SOFX Omega Ratio Rank: 11
SOFX Calmar Ratio Rank: 6
SOFX Martin Ratio Rank: 7

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. SOFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MRVL Daily ETF (MVLL) and Defiance Daily Target 2X Long SOFI ETF (SOFX). 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	SOFX	Difference
Sharpe ratio: Return per unit of total volatility	4.78	-0.24	+5.02
Sortino ratio: Return per unit of downside risk	3.64	0.41	+3.23
Omega ratio: Gain probability vs. loss probability	1.50	1.05	+0.45
Calmar ratio: Return relative to maximum drawdown	14.16	-0.32	+14.48
Martin ratio: Return relative to average drawdown	28.61	-0.52	+29.13

MVLL vs. SOFX - Sharpe Ratio Comparison

The current MVLL Sharpe Ratio is 4.78, which is higher than the SOFX Sharpe Ratio of -0.24. The chart below compares the historical Sharpe Ratios of MVLL and SOFX, 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. SOFX - Drawdown Comparison

The maximum MVLL drawdown since its inception was -59.02%, smaller than the maximum SOFX drawdown of -83.23%. Use the drawdown chart below to compare losses from any high point for MVLL and SOFX.

Drawdown Indicators

	MVLL	SOFX	Difference
Max Drawdown Largest peak-to-trough decline	-59.02%	-83.23%	+24.21%
Max Drawdown (1Y) Largest decline over 1 year	-48.93%	-83.23%	+34.30%
Current Drawdown Current decline from peak	-31.21%	-79.50%	+48.29%
Average Drawdown Average peak-to-trough decline	-22.40%	-43.58%	+21.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.17%	50.68%	-26.51%

Volatility

MVLL vs. SOFX - Volatility Comparison

GraniteShares 2x Long MRVL Daily ETF (MVLL) has a higher volatility of 87.05% compared to Defiance Daily Target 2X Long SOFI ETF (SOFX) at 35.21%. This indicates that MVLL's price experiences larger fluctuations and is considered to be riskier than SOFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVLL	SOFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	87.05%	35.21%	+51.84%
Volatility (6M) Calculated over the trailing 6-month period	113.21%	78.17%	+35.04%
Volatility (1Y) Calculated over the trailing 1-year period	145.20%	111.51%	+33.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	147.26%	121.86%	+25.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	147.26%	121.86%	+25.40%

MVLL vs. SOFX - Expense Ratio Comparison

MVLL has a 1.50% expense ratio, which is higher than SOFX's 1.29% expense ratio.

Dividends

MVLL vs. SOFX - Dividend Comparison

MVLL has not paid dividends to shareholders, while SOFX's dividend yield for the trailing twelve months is around 37.44%.

Position	TTM	2025
MVLL GraniteShares 2x Long MRVL Daily ETF	0.00%	0.00%
SOFX Defiance Daily Target 2X Long SOFI ETF	37.44%	12.67%

Frequently Asked Questions

Can I hold both MVLL and SOFX in my portfolio?

MVLL and SOFX have a correlation of 0.27, 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 SOFX?

MVLL has higher volatility (87.05%) compared to SOFX (35.21%). In terms of maximum drawdown, MVLL dropped -59.02% vs SOFX's -83.23%.

Which ETF is better, MVLL or SOFX?

On 1-year performance, MVLL leads with 686.37% vs -26.37% for SOFX. On fees, SOFX is cheaper at 1.29% per year. On volatility, SOFX has been the lower-risk option at 35.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVLL or SOFX?

Over the 1-year period, MVLL has performed better with a 686.37% return vs -26.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVLL or SOFX?

SOFX is cheaper with a 1.29% expense ratio, compared with 1.50% for MVLL.

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

SOFX has the higher dividend yield at 37.44%, compared with 0.00% for MVLL.

What is the main difference between MVLL and SOFX?

They also come from different issuers: GraniteShares and Defiance. Their fees differ too: 1.50% for MVLL and 1.29% for SOFX.

Which has better risk-adjusted returns?

MVLL currently has the higher Sharpe Ratio (4.78 vs -0.24), 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.