MVRL vs. BBRE
MVRL (ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN) and BBRE (JPMorgan BetaBuilders MSCI US REIT ETF) are both REIT funds - MVRL tracks the MVIS US Mortgage REITs Index (150%) while BBRE tracks the MSCI US REIT Index. Both are passively managed. Over the past 5 years, MVRL returned -8.72%/yr vs 4.42%/yr for BBRE. A 0.64 correlation means they provide meaningful diversification when combined. MVRL charges 0.95%/yr vs 0.11%/yr for BBRE.
Performance
MVRL vs. BBRE - Performance Comparison
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Returns By Period
In the year-to-date period, MVRL achieves a -5.20% return, which is significantly lower than BBRE's 11.77% return.
MVRL
- 1D
- -2.09%
- 1M
- -7.86%
- YTD
- -5.20%
- 6M
- -5.45%
- 1Y
- 11.96%
- 3Y*
- 7.15%
- 5Y*
- -8.72%
- 10Y*
- —
BBRE
- 1D
- 0.16%
- 1M
- -0.16%
- YTD
- 11.77%
- 6M
- 10.56%
- 1Y
- 14.11%
- 3Y*
- 10.99%
- 5Y*
- 4.42%
- 10Y*
- —
MVRL vs. BBRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | -5.20% | 14.96% | -3.45% | 12.30% | -42.41% | 21.71% | 57.90% |
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 11.77% | 2.09% | 8.24% | 13.85% | -24.68% | 42.99% | 8.88% |
Correlation
The correlation between MVRL and BBRE is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.64 |
The correlation between MVRL and BBRE has been stable across timeframes, ranging from 0.58 to 0.65 - a consistent structural relationship.
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Return for Risk
MVRL vs. BBRE — Risk / Return Rank
MVRL
BBRE
MVRL vs. BBRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE). 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.
| MVRL | BBRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.19 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | 1.76 | -1.18 |
| Martin ratioReturn relative to average drawdown | 1.60 | 5.54 | -3.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MVRL | BBRE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.44 | 1.06 | -0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.24 | 0.24 | -0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.31 | -0.19 |
Drawdowns
MVRL vs. BBRE - Drawdown Comparison
The maximum MVRL drawdown since its inception was -60.25%, which is greater than BBRE's maximum drawdown of -43.61%. Use the drawdown chart below to compare losses from any high point for MVRL and BBRE.
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Drawdown Indicators
| MVRL | BBRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.25% | -43.61% | -16.64% |
Max Drawdown (1Y)Largest decline over 1 year | -20.93% | -8.07% | -12.86% |
Max Drawdown (3Y)Largest decline over 3 years | -32.20% | -18.92% | -13.28% |
Max Drawdown (5Y)Largest decline over 5 years | -60.25% | -31.15% | -29.10% |
Current DrawdownCurrent decline from peak | -39.93% | -3.12% | -36.81% |
Average DrawdownAverage peak-to-trough decline | -31.81% | -10.53% | -21.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.51% | 2.55% | +4.96% |
Volatility
MVRL vs. BBRE - Volatility Comparison
ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) has a higher volatility of 5.87% compared to JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) at 3.99%. This indicates that MVRL's price experiences larger fluctuations and is considered to be riskier than BBRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MVRL | BBRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.87% | 3.99% | +1.88% |
Volatility (6M)Calculated over the trailing 6-month period | 20.18% | 9.47% | +10.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.30% | 13.39% | +13.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.55% | 18.77% | +17.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.63% | 22.56% | +15.07% |
MVRL vs. BBRE - Expense Ratio Comparison
MVRL has a 0.95% expense ratio, which is higher than BBRE's 0.11% expense ratio.
Dividends
MVRL vs. BBRE - Dividend Comparison
MVRL's dividend yield for the trailing twelve months is around 21.21%, more than BBRE's 2.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 2.81% | 3.24% | 3.19% | 3.68% | 2.62% | 1.70% | 3.17% | 2.19% | 1.96% |
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | 21.21% | 19.15% | 19.27% | 18.69% | 25.21% | 12.33% | 5.63% | 0.00% | 0.00% |
Frequently Asked Questions
MVRL and BBRE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MVRL has higher volatility (5.87%) compared to BBRE (3.99%). In terms of maximum drawdown, MVRL dropped -60.25% vs BBRE's -43.61%.
On 5-year performance, BBRE leads with 4.42% vs -8.72% for MVRL. On fees, BBRE is cheaper at 0.11% per year. On volatility, BBRE has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BBRE has performed better with a 4.42% return vs -8.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBRE is cheaper with a 0.11% expense ratio, compared with 0.95% for MVRL.
MVRL has the higher dividend yield at 21.21%, compared with 2.81% for BBRE.
MVRL tracks MVIS US Mortgage REITs Index (150%), while BBRE tracks MSCI US REIT Index. They also come from different issuers: UBS and JPMorgan. Their fees differ too: 0.95% for MVRL and 0.11% for BBRE.
BBRE currently has the higher Sharpe Ratio (1.06 vs 0.44), 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.
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