PSL vs. MTUL
PSL (Invesco DWA Consumer Staples Momentum ETF) and MTUL (ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN) are both Momentum funds - PSL tracks the DWA Consumer Staples Technical Leaders Index while MTUL tracks the MSCI USA Momentum Index. Both are passively managed. Over the past 5 years, PSL returned 4.59%/yr vs 20.57%/yr for MTUL. A 0.54 correlation means they provide meaningful diversification when combined. PSL charges 0.60%/yr vs 0.95%/yr for MTUL.
Performance
PSL vs. MTUL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PSL achieves a 11.21% return, which is significantly lower than MTUL's 66.24% return.
PSL
- 1D
- 0.43%
- 1M
- 0.21%
- YTD
- 11.21%
- 6M
- 9.38%
- 1Y
- 1.20%
- 3Y*
- 9.94%
- 5Y*
- 4.59%
- 10Y*
- 8.21%
MTUL
- 1D
- 0.00%
- 1M
- 15.33%
- YTD
- 66.24%
- 6M
- 58.06%
- 1Y
- 80.22%
- 3Y*
- 59.11%
- 5Y*
- 20.57%
- 10Y*
- —
PSL vs. MTUL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PSL Invesco DWA Consumer Staples Momentum ETF | 11.21% | -3.47% | 15.42% | 12.32% | -7.76% | 2.21% |
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN | 66.24% | 27.42% | 58.70% | 10.66% | -37.97% | 8.34% |
Correlation
The correlation between PSL and MTUL is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021 | 0.54 |
Over the past year, the correlation between PSL and MTUL has dropped to 0.10 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PSL vs. MTUL — Risk / Return Rank
PSL
MTUL
PSL vs. MTUL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Consumer Staples Momentum ETF (PSL) and ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL). 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.
| PSL | MTUL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.61 | ||
| Sortino ratioReturn per unit of downside risk | -2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.31 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | 3.38 | -3.29 |
| Martin ratioReturn relative to average drawdown | 0.19 | 13.25 | -13.05 |
Loading charts...
Drawdowns
PSL vs. MTUL - Drawdown Comparison
The maximum PSL drawdown since its inception was -41.58%, smaller than the maximum MTUL drawdown of -56.83%. Use the drawdown chart below to compare losses from any high point for PSL and MTUL.
Loading charts...
Drawdown Indicators
| PSL | MTUL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.58% | -56.83% | +15.25% |
Max Drawdown (1Y)Largest decline over 1 year | -13.64% | -23.86% | +10.22% |
Max Drawdown (3Y)Largest decline over 3 years | -13.64% | -39.15% | +25.51% |
Max Drawdown (5Y)Largest decline over 5 years | -19.45% | -56.83% | +37.38% |
Max Drawdown (10Y)Largest decline over 10 years | -34.67% | — | — |
Current DrawdownCurrent decline from peak | -4.60% | -6.87% | +2.27% |
Average DrawdownAverage peak-to-trough decline | -5.81% | -22.47% | +16.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.20% | 6.08% | +0.12% |
Volatility
PSL vs. MTUL - Volatility Comparison
The current volatility for Invesco DWA Consumer Staples Momentum ETF (PSL) is 4.44%, while ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) has a volatility of 19.87%. This indicates that PSL experiences smaller price fluctuations and is considered to be less risky than MTUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PSL | MTUL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.44% | 19.87% | -15.43% |
Volatility (6M)Calculated over the trailing 6-month period | 9.20% | 40.27% | -31.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.11% | 47.32% | -34.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.17% | 43.48% | -28.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.51% | 44.10% | -27.59% |
PSL vs. MTUL - Expense Ratio Comparison
PSL has a 0.60% expense ratio, which is lower than MTUL's 0.95% expense ratio.
Dividends
PSL vs. MTUL - Dividend Comparison
PSL's dividend yield for the trailing twelve months is around 0.75%, while MTUL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PSL Invesco DWA Consumer Staples Momentum ETF | 0.75% | 0.93% | 0.60% | 1.37% | 1.98% | 1.24% | 0.80% | 0.47% | 0.75% | 0.34% | 2.08% | 1.18% |
Frequently Asked Questions
PSL and MTUL have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTUL has higher volatility (19.87%) compared to PSL (4.44%). In terms of maximum drawdown, PSL dropped -41.58% vs MTUL's -56.83%.
On 5-year performance, MTUL leads with 20.57% vs 4.59% for PSL. On fees, PSL is cheaper at 0.60% per year. On volatility, PSL has been the lower-risk option at 4.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MTUL has performed better with a 20.57% return vs 4.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSL is cheaper with a 0.60% expense ratio, compared with 0.95% for MTUL.
PSL has the higher dividend yield at 0.75%, compared with 0.00% for MTUL.
PSL tracks DWA Consumer Staples Technical Leaders Index, while MTUL tracks MSCI USA Momentum Index. They also come from different issuers: Invesco and UBS. Their fees differ too: 0.60% for PSL and 0.95% for MTUL.
MTUL currently has the higher Sharpe Ratio (1.71 vs 0.09), 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.
Find the right allocation for PSL and MTUL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer