MVRL vs. MORT
MVRL (ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN) and MORT (VanEck Vectors Mortgage REIT Income ETF) are both REIT funds - MVRL tracks the MVIS US Mortgage REITs Index (150%) while MORT tracks the MVIS Global Mortgage REITs Index. Both are passively managed. Over the past 5 years, MVRL returned -8.61%/yr vs -2.32%/yr for MORT. With a 0.96 correlation, they move nearly in lockstep. MVRL charges 0.95%/yr vs 0.42%/yr for MORT.
Performance
MVRL vs. MORT - Performance Comparison
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Returns By Period
In the year-to-date period, MVRL achieves a -3.98% return, which is significantly lower than MORT's -1.41% return.
MVRL
- 1D
- -0.99%
- 1M
- -0.34%
- YTD
- -3.98%
- 6M
- -4.63%
- 1Y
- 10.94%
- 3Y*
- 7.05%
- 5Y*
- -8.61%
- 10Y*
- —
MORT
- 1D
- -0.79%
- 1M
- -0.10%
- YTD
- -1.41%
- 6M
- -2.52%
- 1Y
- 9.84%
- 3Y*
- 7.87%
- 5Y*
- -2.32%
- 10Y*
- 2.42%
MVRL vs. MORT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | -3.98% | 14.96% | -3.45% | 12.30% | -42.41% | 21.71% | 66.40% |
MORT VanEck Vectors Mortgage REIT Income ETF | -1.41% | 12.17% | 0.14% | 14.74% | -26.92% | 15.95% | 46.94% |
Correlation
The correlation between MVRL and MORT is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.96 |
The correlation between MVRL and MORT has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
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Return for Risk
MVRL vs. MORT — Risk / Return Rank
MVRL
MORT
MVRL vs. MORT - 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 VanEck Vectors Mortgage REIT Income ETF (MORT). 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 | MORT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.11 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.52 | 0.69 | -0.17 |
| Martin ratioReturn relative to average drawdown | 1.36 | 1.81 | -0.45 |
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Drawdowns
MVRL vs. MORT - Drawdown Comparison
The maximum MVRL drawdown since its inception was -60.25%, smaller than the maximum MORT drawdown of -70.13%. Use the drawdown chart below to compare losses from any high point for MVRL and MORT.
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Drawdown Indicators
| MVRL | MORT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.25% | -70.13% | +9.88% |
Max Drawdown (1Y)Largest decline over 1 year | -20.93% | -14.27% | -6.66% |
Max Drawdown (3Y)Largest decline over 3 years | -32.20% | -21.98% | -10.22% |
Max Drawdown (5Y)Largest decline over 5 years | -59.63% | -42.48% | -17.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.13% | — |
Current DrawdownCurrent decline from peak | -39.15% | -22.71% | -16.44% |
Average DrawdownAverage peak-to-trough decline | -31.84% | -15.33% | -16.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.05% | 5.45% | +2.60% |
Volatility
MVRL vs. MORT - Volatility Comparison
ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) has a higher volatility of 6.84% compared to VanEck Vectors Mortgage REIT Income ETF (MORT) at 4.74%. This indicates that MVRL's price experiences larger fluctuations and is considered to be riskier than MORT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MVRL | MORT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 4.74% | +2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 20.57% | 13.18% | +7.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.45% | 16.84% | +10.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.55% | 23.70% | +12.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.60% | 28.88% | +8.72% |
MVRL vs. MORT - Expense Ratio Comparison
MVRL has a 0.95% expense ratio, which is higher than MORT's 0.42% expense ratio.
Dividends
MVRL vs. MORT - Dividend Comparison
MVRL's dividend yield for the trailing twelve months is around 21.15%, more than MORT's 13.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MORT VanEck Vectors Mortgage REIT Income ETF | 13.20% | 12.76% | 11.55% | 12.18% | 13.09% | 8.21% | 8.11% | 7.36% | 8.19% | 7.82% | 8.21% | 9.91% |
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | 21.15% | 19.15% | 19.27% | 18.69% | 25.21% | 12.33% | 5.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, MVRL and MORT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
MVRL has higher volatility (6.84%) compared to MORT (4.74%). In terms of maximum drawdown, MVRL dropped -60.25% vs MORT's -70.13%.
On 5-year performance, MORT leads with -2.32% vs -8.61% for MVRL. On fees, MORT is cheaper at 0.42% per year. On volatility, MORT has been the lower-risk option at 4.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MORT has performed better with a -2.32% return vs -8.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MORT is cheaper with a 0.42% expense ratio, compared with 0.95% for MVRL.
MVRL has the higher dividend yield at 21.15%, compared with 13.20% for MORT.
MVRL tracks MVIS US Mortgage REITs Index (150%), while MORT tracks MVIS Global Mortgage REITs Index. They also come from different issuers: UBS and VanEck. Their fees differ too: 0.95% for MVRL and 0.42% for MORT.
MORT currently has the higher Sharpe Ratio (0.59 vs 0.40), 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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