MVRL vs. MLPR
MVRL (ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN) and MLPR (ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN) are both exchange-traded funds - MVRL is a REIT fund tracking the MVIS US Mortgage REITs Index (150%), while MLPR is a Leveraged Equities fund tracking the Alerian MLP Index (150%). Both are passively managed. Over the past 5 years, MVRL returned -6.76%/yr vs 32.44%/yr for MLPR. Their 0.45 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.
Performance
MVRL vs. MLPR - Performance Comparison
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Returns By Period
In the year-to-date period, MVRL achieves a -1.68% return, which is significantly lower than MLPR's 38.78% return.
MVRL
- 1D
- 1.07%
- 1M
- -2.36%
- 6M
- -6.15%
- YTD
- -1.68%
- 1Y
- 7.64%
- 3Y*
- 4.07%
- 5Y*
- -6.76%
- 10Y*
- —
- ALL TIME*
- 5.96%
MLPR
- 1D
- -0.51%
- 1M
- 10.57%
- 6M
- 25.92%
- YTD
- 38.78%
- 1Y
- 38.96%
- 3Y*
- 31.97%
- 5Y*
- 32.44%
- 10Y*
- —
- ALL TIME*
- 32.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $35.36K | $41.58K | $38.04K | |
| $67.59K | $58.58K | $80.08K |
MVRL vs. MLPR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | -1.68% | 14.96% | -3.45% | 12.30% | -42.41% | 21.71% | 66.40% |
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 38.78% | 9.83% | 31.57% | 35.87% | 41.04% | 57.33% | -7.10% |
Correlation
The correlation between MVRL and MLPR is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.45 |
Over the past year, the correlation between MVRL and MLPR has dropped to 0.08 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.
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Return for Risk
MVRL vs. MLPR — Risk / Return Rank
MVRL
MLPR
MVRL vs. MLPR - 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 ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR). 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.
| MVRL | MLPR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.49 | ||
| Sortino ratioReturn per unit of downside risk | -1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.30 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | 2.74 | -2.37 |
| Martin ratioReturn relative to average drawdown | 0.87 | 7.79 | -6.91 |
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Drawdowns
MVRL vs. MLPR - Drawdown Comparison
The maximum MVRL drawdown since its inception was -60.25%, which is greater than MLPR's maximum drawdown of -48.98%. Use the drawdown chart below to compare losses from any high point for MVRL and MLPR.
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Drawdown Indicators
| MVRL | MLPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.25% | -48.98% | -11.27% |
Max Drawdown (1Y)Largest decline over 1 year | -20.93% | -14.31% | -6.62% |
Max Drawdown (3Y)Largest decline over 3 years | -29.34% | -24.45% | -4.89% |
Max Drawdown (5Y)Largest decline over 5 years | -59.63% | -28.66% | -30.97% |
Current DrawdownCurrent decline from peak | -37.69% | -0.64% | -37.05% |
Average DrawdownAverage peak-to-trough decline | -31.93% | -8.88% | -23.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.77% | 5.02% | +3.75% |
Volatility
MVRL vs. MLPR - Volatility Comparison
ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) has a higher volatility of 10.18% compared to ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) at 8.50%. This indicates that MVRL's price experiences larger fluctuations and is considered to be riskier than MLPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MVRL | MLPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.18% | 8.50% | +1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 21.07% | 17.13% | +3.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.69% | 22.27% | +6.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.54% | 29.11% | +7.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.50% | 33.65% | +3.85% |
MVRL vs. MLPR - Expense Ratio Comparison
Both MVRL and MLPR have an expense ratio of 0.95%.
Dividends
MVRL vs. MLPR - Dividend Comparison
MVRL's dividend yield for the trailing twelve months is around 20.76%, more than MLPR's 8.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 8.88% | 10.85% | 9.57% | 10.08% | 7.49% | 10.69% | 4.21% |
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | 20.76% | 19.15% | 19.27% | 18.69% | 25.21% | 12.33% | 5.63% |
Frequently Asked Questions
MVRL and MLPR have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MVRL has higher volatility (10.18%) compared to MLPR (8.50%). In terms of maximum drawdown, MVRL dropped -60.25% vs MLPR's -48.98%.
On 5-year performance, MLPR leads with 32.44% vs -6.76% for MVRL. Both ETFs have the same 0.95% expense ratio. On volatility, MLPR has been the lower-risk option at 8.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MLPR has performed better with a 32.44% return vs -6.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MVRL and MLPR have the same expense ratio: 0.95% per year.
MVRL has the higher dividend yield at 20.76%, compared with 8.88% for MLPR.
MVRL is categorized as REIT, while MLPR is Leveraged Equities. MVRL tracks MVIS US Mortgage REITs Index (150%), while MLPR tracks Alerian MLP Index (150%).
MLPR currently has the higher Sharpe Ratio (1.76 vs 0.27), 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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