MVPL vs. ASMG

Last updated Jun 25, 2026

MVPL (Miller Value Partners Leverage ETF) and ASMG (Leverage Shares 2X Long ASML Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, MVPL returned 34.25% vs 248.90% for ASMG. A 0.59 correlation means they provide meaningful diversification when combined. MVPL charges 1.72%/yr vs 0.75%/yr for ASMG.

Performance

MVPL vs. ASMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Miller Value Partners Leverage ETF (MVPL) and Leverage Shares 2X Long ASML Daily ETF (ASMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVPL achieves a 12.47% return, which is significantly lower than ASMG's 128.07% return.

MVPL

• 1D: -0.61%
• 1M: -3.73%
• YTD: 12.47%
• 6M: 9.80%
• 1Y: 34.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASMG

• 1D: -2.00%
• 1M: 11.41%
• YTD: 128.07%
• 6M: 129.18%
• 1Y: 248.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MVPL vs. ASMG - Yearly Performance Comparison

	2026 (YTD)	2025
MVPL Miller Value Partners Leverage ETF	12.47%	27.83%
ASMG Leverage Shares 2X Long ASML Daily ETF	128.07%	62.68%

Correlation

The correlation between MVPL and ASMG is 0.57, 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	0.57
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	0.59

The correlation between MVPL and ASMG has been stable across timeframes, ranging from 0.57 to 0.59 - a consistent structural relationship.

Return for Risk

MVPL vs. ASMG — Risk / Return Rank

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

MVPL

MVPL Risk / Return Rank: 53
MVPL Sharpe Ratio Rank: 52
MVPL Sortino Ratio Rank: 47
MVPL Omega Ratio Rank: 47
MVPL Calmar Ratio Rank: 64
MVPL Martin Ratio Rank: 57

ASMG

ASMG Risk / Return Rank: 84
ASMG Sharpe Ratio Rank: 92
ASMG Sortino Ratio Rank: 75
ASMG Omega Ratio Rank: 70
ASMG Calmar Ratio Rank: 95
ASMG Martin Ratio Rank: 90

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.

MVPL vs. ASMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Miller Value Partners Leverage ETF (MVPL) and Leverage Shares 2X Long ASML Daily ETF (ASMG). 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.

	MVPL	ASMG	Difference
Sharpe ratio: Return per unit of total volatility	1.54	2.88	-1.33
Sortino ratio: Return per unit of downside risk	2.06	2.96	-0.90
Omega ratio: Gain probability vs. loss probability	1.27	1.36	-0.09
Calmar ratio: Return relative to maximum drawdown	2.71	7.25	-4.54
Martin ratio: Return relative to average drawdown	8.67	17.93	-9.27

MVPL vs. ASMG - Sharpe Ratio Comparison

The current MVPL Sharpe Ratio is 1.54, which is lower than the ASMG Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of MVPL and ASMG, 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

MVPL vs. ASMG - Drawdown Comparison

The maximum MVPL drawdown since its inception was -25.68%, smaller than the maximum ASMG drawdown of -43.95%. Use the drawdown chart below to compare losses from any high point for MVPL and ASMG.

Drawdown Indicators

	MVPL	ASMG	Difference
Max Drawdown Largest peak-to-trough decline	-25.68%	-43.95%	+18.27%
Max Drawdown (1Y) Largest decline over 1 year	-12.68%	-34.56%	+21.88%
Current Drawdown Current decline from peak	-7.05%	-17.62%	+10.57%
Average Drawdown Average peak-to-trough decline	-4.27%	-12.93%	+8.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.96%	13.95%	-9.99%

Volatility

MVPL vs. ASMG - Volatility Comparison

The current volatility for Miller Value Partners Leverage ETF (MVPL) is 9.28%, while Leverage Shares 2X Long ASML Daily ETF (ASMG) has a volatility of 37.19%. This indicates that MVPL experiences smaller price fluctuations and is considered to be less risky than ASMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVPL	ASMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.28%	37.19%	-27.91%
Volatility (6M) Calculated over the trailing 6-month period	16.98%	70.58%	-53.60%
Volatility (1Y) Calculated over the trailing 1-year period	22.56%	87.47%	-64.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.39%	87.64%	-62.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.39%	87.64%	-62.25%

MVPL vs. ASMG - Expense Ratio Comparison

MVPL has a 1.72% expense ratio, which is higher than ASMG's 0.75% expense ratio.

Dividends

MVPL vs. ASMG - Dividend Comparison

MVPL's dividend yield for the trailing twelve months is around 0.97%, less than ASMG's 4.91% yield.

Position	TTM	2025	2024
ASMG Leverage Shares 2X Long ASML Daily ETF	4.91%	11.20%	0.00%
MVPL Miller Value Partners Leverage ETF	0.97%	1.10%	7.07%

Frequently Asked Questions

Can I hold both MVPL and ASMG in my portfolio?

MVPL and ASMG have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVPL or ASMG?

ASMG has higher volatility (37.19%) compared to MVPL (9.28%). In terms of maximum drawdown, MVPL dropped -25.68% vs ASMG's -43.95%.

Which ETF is better, MVPL or ASMG?

On 1-year performance, ASMG leads with 248.90% vs 34.25% for MVPL. On fees, ASMG is cheaper at 0.75% per year. On volatility, MVPL has been the lower-risk option at 9.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVPL or ASMG?

Over the 1-year period, ASMG has performed better with a 248.90% return vs 34.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVPL or ASMG?

ASMG is cheaper with a 0.75% expense ratio, compared with 1.72% for MVPL.

Which ETF pays a higher dividend yield, MVPL or ASMG?

ASMG has the higher dividend yield at 4.91%, compared with 0.97% for MVPL.

What is the main difference between MVPL and ASMG?

They also come from different issuers: Miller and Leverage Shares. Their fees differ too: 1.72% for MVPL and 0.75% for ASMG.

Which has better risk-adjusted returns?

ASMG currently has the higher Sharpe Ratio (2.88 vs 1.54), 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.