QULL vs. MVRL
Compare and contrast key facts about ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) and ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL).
QULL and MVRL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QULL is a passively managed fund by UBS that tracks the performance of the MSCI USA Sector Neutral Quality Index. It was launched on Feb 5, 2021. MVRL is a passively managed fund by UBS that tracks the performance of the MVIS US Mortgage REITs Index (150%). It was launched on Jun 2, 2020. Both QULL and MVRL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
QULL vs. MVRL - Performance Comparison
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QULL vs. MVRL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QULL ETRACS 2x Leveraged MSCI US Quality Factor TR ETN | -6.95% | 17.61% | 38.03% | 57.07% | -42.00% | 51.36% |
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | -5.44% | 14.96% | -3.45% | 12.30% | -42.41% | 14.07% |
Returns By Period
In the year-to-date period, QULL achieves a -6.95% return, which is significantly lower than MVRL's -5.44% return.
QULL
- 1D
- 1.22%
- 1M
- -11.66%
- YTD
- -6.95%
- 6M
- -4.90%
- 1Y
- 20.02%
- 3Y*
- 26.76%
- 5Y*
- 13.82%
- 10Y*
- —
MVRL
- 1D
- -0.40%
- 1M
- -8.47%
- YTD
- -5.44%
- 6M
- -1.55%
- 1Y
- 1.95%
- 3Y*
- 8.56%
- 5Y*
- -7.34%
- 10Y*
- —
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QULL vs. MVRL - Expense Ratio Comparison
Both QULL and MVRL have an expense ratio of 0.95%.
Return for Risk
QULL vs. MVRL — Risk / Return Rank
QULL
MVRL
QULL vs. MVRL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) and ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL). 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.
| QULL | MVRL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.54 | 0.06 | +0.48 |
Sortino ratioReturn per unit of downside risk | 1.05 | 0.31 | +0.74 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.04 | +0.10 |
Calmar ratioReturn relative to maximum drawdown | 0.82 | 0.06 | +0.75 |
Martin ratioReturn relative to average drawdown | 3.82 | 0.19 | +3.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QULL | MVRL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.54 | 0.06 | +0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | -0.20 | +0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.12 | +0.31 |
Correlation
The correlation between QULL and MVRL is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
QULL vs. MVRL - Dividend Comparison
QULL has not paid dividends to shareholders, while MVRL's dividend yield for the trailing twelve months is around 20.78%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
QULL ETRACS 2x Leveraged MSCI US Quality Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | 20.78% | 19.15% | 19.27% | 18.69% | 25.21% | 12.33% | 5.63% |
Drawdowns
QULL vs. MVRL - Drawdown Comparison
The maximum QULL drawdown since its inception was -51.83%, smaller than the maximum MVRL drawdown of -60.25%. Use the drawdown chart below to compare losses from any high point for QULL and MVRL.
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Drawdown Indicators
| QULL | MVRL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.83% | -60.25% | +8.42% |
Max Drawdown (1Y)Largest decline over 1 year | -24.81% | -22.85% | -1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -51.83% | -60.25% | +8.42% |
Current DrawdownCurrent decline from peak | -12.36% | -40.07% | +27.71% |
Average DrawdownAverage peak-to-trough decline | -14.46% | -31.68% | +17.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.32% | 7.99% | -2.67% |
Volatility
QULL vs. MVRL - Volatility Comparison
The current volatility for ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) is 11.33%, while ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) has a volatility of 12.40%. This indicates that QULL experiences smaller price fluctuations and is considered to be less risky than MVRL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QULL | MVRL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.33% | 12.40% | -1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 19.75% | 19.98% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.54% | 35.61% | +1.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.65% | 36.54% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.49% | 37.93% | -2.44% |