MVRL vs. URE
MVRL (ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN) and URE (ProShares Ultra Real Estate) are both REIT funds - MVRL tracks the MVIS US Mortgage REITs Index (150%) while URE tracks the Dow Jones U.S. Real Estate Index (200%). Both are passively managed. Over the past 5 years, MVRL returned -6.76%/yr vs -3.92%/yr for URE. Their 0.62 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.95% expense ratio.
Performance
MVRL vs. URE - 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 URE's 23.35% 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%
URE
- 1D
- 0.70%
- 1M
- 1.91%
- 6M
- 20.58%
- YTD
- 23.35%
- 1Y
- 18.25%
- 3Y*
- 11.31%
- 5Y*
- -3.92%
- 10Y*
- 2.23%
- ALL TIME*
- -3.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $67.59K | $58.58K | $80.08K | |
| $611.02K | $406.79K | $255.52K |
MVRL vs. URE - 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% |
URE ProShares Ultra Real Estate | 23.35% | -3.65% | 0.35% | 11.58% | -49.64% | 88.24% | 14.16% |
Correlation
The correlation between MVRL and URE is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.51 |
Correlation (3Y) Balances recent behavior with more history. | 0.58 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.62 |
The correlation between MVRL and URE shifts across timeframes, from 0.51 (1 year) to 0.63 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MVRL vs. URE — Risk / Return Rank
MVRL
URE
MVRL vs. URE - 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 ProShares Ultra Real Estate (URE). 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 | URE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.13 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | 1.11 | -0.74 |
| Martin ratioReturn relative to average drawdown | 0.87 | 3.05 | -2.17 |
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Drawdowns
MVRL vs. URE - Drawdown Comparison
The maximum MVRL drawdown since its inception was -60.25%, smaller than the maximum URE drawdown of -97.16%. Use the drawdown chart below to compare losses from any high point for MVRL and URE.
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Drawdown Indicators
| MVRL | URE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.25% | -97.16% | +36.91% |
Max Drawdown (1Y)Largest decline over 1 year | -20.93% | -16.50% | -4.43% |
Max Drawdown (3Y)Largest decline over 3 years | -29.34% | -33.77% | +4.43% |
Max Drawdown (5Y)Largest decline over 5 years | -59.63% | -63.66% | +4.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.49% | — |
Current DrawdownCurrent decline from peak | -37.69% | -48.78% | +11.09% |
Average DrawdownAverage peak-to-trough decline | -31.93% | -64.38% | +32.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.77% | 6.01% | +2.76% |
Volatility
MVRL vs. URE - Volatility Comparison
ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) has a higher volatility of 10.18% compared to ProShares Ultra Real Estate (URE) at 8.67%. This indicates that MVRL's price experiences larger fluctuations and is considered to be riskier than URE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MVRL | URE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.18% | 8.67% | +1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 21.07% | 22.10% | -1.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.69% | 28.02% | +0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.54% | 37.52% | -0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.50% | 40.68% | -3.18% |
MVRL vs. URE - Expense Ratio Comparison
Both MVRL and URE have an expense ratio of 0.95%.
Dividends
MVRL vs. URE - Dividend Comparison
MVRL's dividend yield for the trailing twelve months is around 20.76%, more than URE's 1.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | 20.76% | 19.15% | 19.27% | 18.69% | 25.21% | 12.33% | 5.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
URE ProShares Ultra Real Estate | 1.98% | 2.42% | 2.09% | 1.32% | 1.26% | 0.58% | 0.94% | 1.10% | 1.53% | 0.93% | 0.96% | 0.81% |
Frequently Asked Questions
MVRL and URE have a correlation of 0.51, 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 URE (8.67%). In terms of maximum drawdown, MVRL dropped -60.25% vs URE's -97.16%.
On 5-year performance, URE leads with -3.92% vs -6.76% for MVRL. Both ETFs have the same 0.95% expense ratio. On volatility, URE has been the lower-risk option at 8.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, URE has performed better with a -3.92% return vs -6.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MVRL and URE have the same expense ratio: 0.95% per year.
MVRL has the higher dividend yield at 20.76%, compared with 1.98% for URE.
MVRL tracks MVIS US Mortgage REITs Index (150%), while URE tracks Dow Jones U.S. Real Estate Index (200%). They also come from different issuers: UBS and ProShares.
URE currently has the higher Sharpe Ratio (0.66 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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