RVNL vs. HOOG

Last updated Jun 6, 2026

RVNL (GraniteShares 2x Long RIVN Daily ETF) and HOOG (Leverage Shares 2X Long HOOD Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, RVNL returned -16.81% vs -32.55% for HOOG. At a 0.30 correlation, their price movements are largely independent. RVNL charges 1.15%/yr vs 0.75%/yr for HOOG.

Performance

RVNL vs. HOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long RIVN Daily ETF (RVNL) and Leverage Shares 2X Long HOOD Daily ETF (HOOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RVNL achieves a -45.20% return, which is significantly higher than HOOG's -61.32% return.

RVNL

• 1D: -19.35%
• 1M: 21.38%
• YTD: -45.20%
• 6M: -37.35%
• 1Y: -16.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HOOG

• 1D: -13.39%
• 1M: 1.99%
• YTD: -61.32%
• 6M: -72.58%
• 1Y: -32.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RVNL vs. HOOG - Yearly Performance Comparison

	2026 (YTD)	2025
RVNL GraniteShares 2x Long RIVN Daily ETF	-45.20%	117.81%
HOOG Leverage Shares 2X Long HOOD Daily ETF	-61.32%	387.84%

Correlation

The correlation between RVNL and HOOG is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (All Time) Calculated using the full available price history since Apr 23, 2025	0.30

Return for Risk

RVNL vs. HOOG — Risk / Return Rank

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

RVNL

RVNL Risk / Return Rank: 11
RVNL Sharpe Ratio Rank: 8
RVNL Sortino Ratio Rank: 17
RVNL Omega Ratio Rank: 16
RVNL Calmar Ratio Rank: 7
RVNL Martin Ratio Rank: 7

HOOG

HOOG Risk / Return Rank: 9
HOOG Sharpe Ratio Rank: 7
HOOG Sortino Ratio Rank: 14
HOOG Omega Ratio Rank: 14
HOOG Calmar Ratio Rank: 6
HOOG Martin Ratio Rank: 6

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.

RVNL vs. HOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long RIVN Daily ETF (RVNL) and Leverage Shares 2X Long HOOD Daily ETF (HOOG). 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.

	RVNL	HOOG	Difference
Sharpe ratio: Return per unit of total volatility	-0.13	-0.24	+0.10
Sortino ratio: Return per unit of downside risk	0.77	0.60	+0.18
Omega ratio: Gain probability vs. loss probability	1.09	1.07	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.23	-0.38	+0.14
Martin ratio: Return relative to average drawdown	-0.42	-0.61	+0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RVNL vs. HOOG - Sharpe Ratio Comparison

The current RVNL Sharpe Ratio is -0.13, which is higher than the HOOG Sharpe Ratio of -0.24. The chart below compares the historical Sharpe Ratios of RVNL and HOOG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RVNL	HOOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.13	-0.24	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.28	-0.15

Drawdowns

RVNL vs. HOOG - Drawdown Comparison

The maximum RVNL drawdown since its inception was -72.92%, smaller than the maximum HOOG drawdown of -86.94%. Use the drawdown chart below to compare losses from any high point for RVNL and HOOG.

Drawdown Indicators

	RVNL	HOOG	Difference
Max Drawdown Largest peak-to-trough decline	-72.92%	-86.94%	+14.02%
Max Drawdown (1Y) Largest decline over 1 year	-72.92%	-86.94%	+14.02%
Current Drawdown Current decline from peak	-57.98%	-81.96%	+23.98%
Average Drawdown Average peak-to-trough decline	-40.22%	-37.85%	-2.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.30%	53.71%	-13.41%

Volatility

RVNL vs. HOOG - Volatility Comparison

The current volatility for GraniteShares 2x Long RIVN Daily ETF (RVNL) is 37.10%, while Leverage Shares 2X Long HOOD Daily ETF (HOOG) has a volatility of 45.54%. This indicates that RVNL experiences smaller price fluctuations and is considered to be less risky than HOOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RVNL	HOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	37.10%	45.54%	-8.44%
Volatility (6M) Calculated over the trailing 6-month period	93.68%	101.44%	-7.76%
Volatility (1Y) Calculated over the trailing 1-year period	127.61%	137.92%	-10.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	125.00%	145.39%	-20.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	125.00%	145.39%	-20.39%

RVNL vs. HOOG - Expense Ratio Comparison

RVNL has a 1.15% expense ratio, which is higher than HOOG's 0.75% expense ratio.

Dividends

RVNL vs. HOOG - Dividend Comparison

RVNL has not paid dividends to shareholders, while HOOG's dividend yield for the trailing twelve months is around 31.81%.

Position	TTM	2025
HOOG Leverage Shares 2X Long HOOD Daily ETF	31.81%	12.30%
RVNL GraniteShares 2x Long RIVN Daily ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both RVNL and HOOG in my portfolio?

RVNL and HOOG have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RVNL or HOOG?

HOOG has higher volatility (45.54%) compared to RVNL (37.10%). In terms of maximum drawdown, RVNL dropped -72.92% vs HOOG's -86.94%.

Which ETF is better, RVNL or HOOG?

On 1-year performance, RVNL leads with -16.81% vs -32.55% for HOOG. On fees, HOOG is cheaper at 0.75% per year. On volatility, RVNL has been the lower-risk option at 37.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RVNL or HOOG?

Over the 1-year period, RVNL has performed better with a -16.81% return vs -32.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RVNL or HOOG?

HOOG is cheaper with a 0.75% expense ratio, compared with 1.15% for RVNL.

Which ETF pays a higher dividend yield, RVNL or HOOG?

HOOG has the higher dividend yield at 31.81%, compared with 0.00% for RVNL.

What is the main difference between RVNL and HOOG?

They also come from different issuers: GraniteShares and Leverage Shares. Their fees differ too: 1.15% for RVNL and 0.75% for HOOG.

Which has better risk-adjusted returns?

RVNL currently has the higher Sharpe Ratio (-0.13 vs -0.24), 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.