MVV vs. TNA
Compare and contrast key facts about ProShares Ultra Midcap 400 (MVV) and Direxion Daily Small Cap Bull 3X Shares (TNA).
MVV and TNA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MVV is a passively managed fund by ProShares that tracks the performance of the S&P MidCap 400 Index (200%). It was launched on Jun 21, 2006. TNA is a passively managed fund by Direxion that tracks the performance of the Russell 2000 Index (300%). It was launched on Nov 5, 2008. Both MVV and TNA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MVV or TNA.
Key characteristics
| MVV | TNA | |
|---|---|---|
| YTD Return | 16.57% | 4.23% |
| 1Y Return | 48.37% | 47.36% |
| 3Y Return (Ann) | 1.65% | -21.96% |
| 5Y Return (Ann) | 12.58% | -6.76% |
| 10Y Return (Ann) | 12.80% | 2.88% |
| Sharpe Ratio | 1.40 | 0.69 |
| Daily Std Dev | 31.53% | 58.97% |
| Max Drawdown | -85.54% | -88.09% |
| Current Drawdown | -7.61% | -62.56% |
Correlation
The correlation between MVV and TNA is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
MVV vs. TNA - Performance Comparison
In the year-to-date period, MVV achieves a 16.57% return, which is significantly higher than TNA's 4.23% return. Over the past 10 years, MVV has outperformed TNA with an annualized return of 12.80%, while TNA has yielded a comparatively lower 2.88% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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MVV vs. TNA - Expense Ratio Comparison
MVV has a 0.95% expense ratio, which is lower than TNA's 1.14% expense ratio.
Risk-Adjusted Performance
MVV vs. TNA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Midcap 400 (MVV) and Direxion Daily Small Cap Bull 3X Shares (TNA). 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.
Dividends
MVV vs. TNA - Dividend Comparison
MVV's dividend yield for the trailing twelve months is around 0.53%, less than TNA's 1.19% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MVV ProShares Ultra Midcap 400 | 0.53% | 0.77% | 0.93% | 0.16% | 0.29% | 0.62% | 0.62% | 0.21% | 0.43% | 0.17% | 0.00% | 0.00% |
TNA Direxion Daily Small Cap Bull 3X Shares | 1.19% | 1.27% | 0.31% | 0.06% | 0.03% | 0.44% | 0.36% | 0.15% | 0.00% | 0.00% | 0.59% | 1.53% |
Drawdowns
MVV vs. TNA - Drawdown Comparison
The maximum MVV drawdown since its inception was -85.54%, roughly equal to the maximum TNA drawdown of -88.09%. Use the drawdown chart below to compare losses from any high point for MVV and TNA. For additional features, visit the drawdowns tool.
Volatility
MVV vs. TNA - Volatility Comparison
The current volatility for ProShares Ultra Midcap 400 (MVV) is 7.18%, while Direxion Daily Small Cap Bull 3X Shares (TNA) has a volatility of 13.35%. This indicates that MVV experiences smaller price fluctuations and is considered to be less risky than TNA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.