MVV vs. NBIG

Last updated Jun 5, 2026

MVV (ProShares Ultra Midcap 400) and NBIG (Leverage Shares 2X Long NBIS Daily ETF) are both Leveraged Equities funds. MVV is passively managed, while NBIG is actively managed. At a 0.36 correlation, their price movements are largely independent. MVV charges 0.95%/yr vs 0.75%/yr for NBIG.

Performance

MVV vs. NBIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Midcap 400 (MVV) and Leverage Shares 2X Long NBIS Daily ETF (NBIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVV achieves a 26.91% return, which is significantly lower than NBIG's 487.61% return.

MVV

• 1D: 0.79%
• 1M: 5.49%
• YTD: 26.91%
• 6M: 25.58%
• 1Y: 46.84%
• 3Y*: 23.31%
• 5Y*: 6.76%
• 10Y*: 13.56%

NBIG

• 1D: 6.23%
• 1M: 96.57%
• YTD: 487.61%
• 6M: 268.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MVV vs. NBIG - Yearly Performance Comparison

	2026 (YTD)	2025
MVV ProShares Ultra Midcap 400	26.91%	-1.16%
NBIG Leverage Shares 2X Long NBIS Daily ETF	487.61%	-62.34%

Correlation

The correlation between MVV and NBIG is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 28, 2025	0.36

Return for Risk

MVV vs. NBIG — Risk / Return Rank

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

MVV

MVV Risk / Return Rank: 47
MVV Sharpe Ratio Rank: 44
MVV Sortino Ratio Rank: 44
MVV Omega Ratio Rank: 41
MVV Calmar Ratio Rank: 55
MVV Martin Ratio Rank: 54

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.

MVV vs. NBIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Midcap 400 (MVV) and Leverage Shares 2X Long NBIS Daily ETF (NBIG). 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.

	MVV	NBIG	Difference
Sharpe ratio: Return per unit of total volatility	1.51	—	—
Sortino ratio: Return per unit of downside risk	2.16	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.66	—	—
Martin ratio: Return relative to average drawdown	9.13	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MVV	NBIG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	1.38	-1.12

Drawdowns

MVV vs. NBIG - Drawdown Comparison

The maximum MVV drawdown since its inception was -85.54%, which is greater than NBIG's maximum drawdown of -75.83%. Use the drawdown chart below to compare losses from any high point for MVV and NBIG.

Drawdown Indicators

	MVV	NBIG	Difference
Max Drawdown Largest peak-to-trough decline	-85.54%	-75.83%	-9.71%
Max Drawdown (1Y) Largest decline over 1 year	-17.68%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-44.80%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-45.53%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.19%	—	—
Current Drawdown Current decline from peak	0.00%	-3.94%	+3.94%
Average Drawdown Average peak-to-trough decline	-20.55%	-42.82%	+22.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.14%	—	—

Volatility

Volatility by Period

	MVV	NBIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.23%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.64%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	31.13%	200.64%	-169.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.63%	200.64%	-161.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.35%	200.64%	-158.29%

MVV vs. NBIG - Expense Ratio Comparison

MVV has a 0.95% expense ratio, which is higher than NBIG's 0.75% expense ratio.

Dividends

MVV vs. NBIG - Dividend Comparison

MVV's dividend yield for the trailing twelve months is around 0.67%, while NBIG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MVV ProShares Ultra Midcap 400	0.67%	0.77%	0.39%	0.77%	0.93%	0.16%	0.29%	0.62%	0.62%	0.21%	0.43%	0.17%
NBIG Leverage Shares 2X Long NBIS Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MVV and NBIG in my portfolio?

MVV and NBIG have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MVV or NBIG?

On fees, NBIG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MVV or NBIG?

NBIG is cheaper with a 0.75% expense ratio, compared with 0.95% for MVV.

Which ETF pays a higher dividend yield, MVV or NBIG?

MVV has the higher dividend yield at 0.67%, compared with 0.00% for NBIG.

What is the main difference between MVV and NBIG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for MVV and 0.75% for NBIG.