MVPL vs. FIGG

Last updated Jun 25, 2026

MVPL (Miller Value Partners Leverage ETF) and FIGG (Leverage Shares 2X Long FIG Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.28 correlation, their price movements are largely independent. MVPL charges 1.72%/yr vs 0.75%/yr for FIGG.

Performance

MVPL vs. FIGG - 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 FIG Daily ETF (FIGG). 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 higher than FIGG's -83.11% return.

MVPL

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

FIGG

• 1D: -4.64%
• 1M: -36.92%
• YTD: -83.11%
• 6M: -84.40%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MVPL vs. FIGG - Yearly Performance Comparison

	2026 (YTD)	2025
MVPL Miller Value Partners Leverage ETF	12.47%	1.82%
FIGG Leverage Shares 2X Long FIG Daily ETF	-83.11%	-68.14%

Correlation

The correlation between MVPL and FIGG is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025	0.28

Return for Risk

MVPL vs. FIGG — 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

FIGG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. FIGG - 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 FIG Daily ETF (FIGG). 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	FIGG	Difference
Sharpe ratio: Return per unit of total volatility	1.54	—	—
Sortino ratio: Return per unit of downside risk	2.06	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	2.71	—	—
Martin ratio: Return relative to average drawdown	8.67	—	—

Drawdowns

MVPL vs. FIGG - Drawdown Comparison

The maximum MVPL drawdown since its inception was -25.68%, smaller than the maximum FIGG drawdown of -95.11%. Use the drawdown chart below to compare losses from any high point for MVPL and FIGG.

Drawdown Indicators

	MVPL	FIGG	Difference
Max Drawdown Largest peak-to-trough decline	-25.68%	-95.11%	+69.43%
Max Drawdown (1Y) Largest decline over 1 year	-12.68%	—	—
Current Drawdown Current decline from peak	-7.05%	-94.74%	+87.69%
Average Drawdown Average peak-to-trough decline	-4.27%	-78.00%	+73.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.96%	—	—

Volatility

Volatility by Period

	MVPL	FIGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.56%	143.49%	-120.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.39%	143.49%	-118.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.39%	143.49%	-118.10%

MVPL vs. FIGG - Expense Ratio Comparison

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

Dividends

MVPL vs. FIGG - Dividend Comparison

MVPL's dividend yield for the trailing twelve months is around 0.97%, while FIGG has not paid dividends to shareholders.

Position	TTM	2025	2024
FIGG Leverage Shares 2X Long FIG Daily ETF	0.00%	0.00%	0.00%
MVPL Miller Value Partners Leverage ETF	0.97%	1.10%	7.07%

Frequently Asked Questions

Can I hold both MVPL and FIGG in my portfolio?

MVPL and FIGG have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MVPL or FIGG?

On fees, FIGG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MVPL or FIGG?

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

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

MVPL has the higher dividend yield at 0.97%, compared with 0.00% for FIGG.

What is the main difference between MVPL and FIGG?

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