MVRL vs. REIT

Last updated Jun 4, 2026

MVRL (ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN) and REIT (ALPS Active REIT ETF) are both REIT funds. MVRL is passively managed, while REIT is actively managed. Over the past 5 years, MVRL returned -8.72%/yr vs 4.37%/yr for REIT. A 0.61 correlation means they provide meaningful diversification when combined. MVRL charges 0.95%/yr vs 0.68%/yr for REIT.

Performance

MVRL vs. REIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) and ALPS Active REIT ETF (REIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVRL achieves a -5.20% return, which is significantly lower than REIT's 12.80% return.

MVRL

• 1D: -2.09%
• 1M: -7.86%
• YTD: -5.20%
• 6M: -5.45%
• 1Y: 11.96%
• 3Y*: 7.15%
• 5Y*: -8.72%
• 10Y*: —

REIT

• 1D: 0.05%
• 1M: 0.26%
• YTD: 12.80%
• 6M: 12.21%
• 1Y: 13.48%
• 3Y*: 10.38%
• 5Y*: 4.37%
• 10Y*: —

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

MVRL vs. REIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN	-5.20%	14.96%	-3.45%	12.30%	-42.41%	9.51%
REIT ALPS Active REIT ETF	12.80%	-0.55%	7.11%	13.74%	-21.23%	33.56%

Correlation

The correlation between MVRL and REIT is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Mar 1, 2021	0.61

The correlation between MVRL and REIT has been stable across timeframes, ranging from 0.56 to 0.63 - a consistent structural relationship.

Return for Risk

MVRL vs. REIT — Risk / Return Rank

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

MVRL

MVRL Risk / Return Rank: 16
MVRL Sharpe Ratio Rank: 15
MVRL Sortino Ratio Rank: 16
MVRL Omega Ratio Rank: 16
MVRL Calmar Ratio Rank: 16
MVRL Martin Ratio Rank: 16

REIT

REIT Risk / Return Rank: 31
REIT Sharpe Ratio Rank: 29
REIT Sortino Ratio Rank: 27
REIT Omega Ratio Rank: 27
REIT Calmar Ratio Rank: 37
REIT Martin Ratio Rank: 35

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.

MVRL vs. REIT - 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 ALPS Active REIT ETF (REIT). 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	REIT	Difference
Sharpe ratio: Return per unit of total volatility	0.44	1.06	-0.62
Sortino ratio: Return per unit of downside risk	0.78	1.46	-0.68
Omega ratio: Gain probability vs. loss probability	1.10	1.19	-0.09
Calmar ratio: Return relative to maximum drawdown	0.57	1.84	-1.27
Martin ratio: Return relative to average drawdown	1.60	5.33	-3.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MVRL vs. REIT - Sharpe Ratio Comparison

The current MVRL Sharpe Ratio is 0.44, which is lower than the REIT Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of MVRL and REIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MVRL	REIT	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	0.39	-0.27

Drawdowns

MVRL vs. REIT - Drawdown Comparison

The maximum MVRL drawdown since its inception was -60.25%, which is greater than REIT's maximum drawdown of -29.30%. Use the drawdown chart below to compare losses from any high point for MVRL and REIT.

Drawdown Indicators

	MVRL	REIT	Difference
Max Drawdown Largest peak-to-trough decline	-60.25%	-29.30%	-30.95%
Max Drawdown (1Y) Largest decline over 1 year	-20.93%	-7.35%	-13.58%
Max Drawdown (3Y) Largest decline over 3 years	-32.20%	-18.19%	-14.01%
Max Drawdown (5Y) Largest decline over 5 years	-60.25%	-29.30%	-30.95%
Current Drawdown Current decline from peak	-39.93%	-2.65%	-37.28%
Average Drawdown Average peak-to-trough decline	-31.81%	-10.38%	-21.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.51%	2.53%	+4.98%

Volatility

MVRL vs. REIT - Volatility Comparison

ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) has a higher volatility of 5.87% compared to ALPS Active REIT ETF (REIT) at 3.80%. This indicates that MVRL's price experiences larger fluctuations and is considered to be riskier than REIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVRL	REIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.87%	3.80%	+2.07%
Volatility (6M) Calculated over the trailing 6-month period	20.18%	9.01%	+11.17%
Volatility (1Y) Calculated over the trailing 1-year period	27.30%	12.78%	+14.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.55%	18.45%	+18.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.63%	18.38%	+19.25%

MVRL vs. REIT - Expense Ratio Comparison

MVRL has a 0.95% expense ratio, which is higher than REIT's 0.68% expense ratio.

Dividends

MVRL vs. REIT - Dividend Comparison

MVRL's dividend yield for the trailing twelve months is around 21.21%, more than REIT's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN	21.21%	19.15%	19.27%	18.69%	25.21%	12.33%	5.63%
REIT ALPS Active REIT ETF	2.80%	3.20%	3.06%	3.13%	2.81%	4.71%	0.00%

Frequently Asked Questions

Can I hold both MVRL and REIT in my portfolio?

MVRL and REIT have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVRL or REIT?

MVRL has higher volatility (5.87%) compared to REIT (3.80%). In terms of maximum drawdown, MVRL dropped -60.25% vs REIT's -29.30%.

Which ETF is better, MVRL or REIT?

On 5-year performance, REIT leads with 4.37% vs -8.72% for MVRL. On fees, REIT is cheaper at 0.68% per year. On volatility, REIT has been the lower-risk option at 3.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVRL or REIT?

Over the 5-year period, REIT has performed better with a 4.37% return vs -8.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVRL or REIT?

REIT is cheaper with a 0.68% expense ratio, compared with 0.95% for MVRL.

Which ETF pays a higher dividend yield, MVRL or REIT?

MVRL has the higher dividend yield at 21.21%, compared with 2.80% for REIT.

What is the main difference between MVRL and REIT?

They also come from different issuers: UBS and ALPS. Their fees differ too: 0.95% for MVRL and 0.68% for REIT.

Which has better risk-adjusted returns?

REIT 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.