SHPU vs. MVLL

Last updated Jun 6, 2026

SHPU (Direxion Daily SHOP Bull 2X ETF) and MVLL (GraniteShares 2x Long MRVL Daily ETF) are both Leveraged Equities funds. SHPU is actively managed, while MVLL is passively managed. At a 0.24 correlation, their price movements are largely independent. SHPU charges 1.09%/yr vs 1.50%/yr for MVLL.

Performance

SHPU vs. MVLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily SHOP Bull 2X ETF (SHPU) and GraniteShares 2x Long MRVL Daily ETF (MVLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHPU achieves a -63.82% return, which is significantly lower than MVLL's 590.25% return.

SHPU

• 1D: -11.54%
• 1M: 3.30%
• YTD: -63.82%
• 6M: -63.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MVLL

• 1D: -33.13%
• 1M: 99.48%
• YTD: 590.25%
• 6M: 396.79%
• 1Y: 787.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHPU vs. MVLL - Yearly Performance Comparison

	2026 (YTD)	2025
SHPU Direxion Daily SHOP Bull 2X ETF	-63.82%	-2.39%
MVLL GraniteShares 2x Long MRVL Daily ETF	590.25%	2.41%

Correlation

The correlation between SHPU and MVLL is 0.24, 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 Aug 7, 2025	0.24

Return for Risk

SHPU vs. MVLL — Risk / Return Rank

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

MVLL

MVLL Risk / Return Rank: 94
MVLL Sharpe Ratio Rank: 98
MVLL Sortino Ratio Rank: 89
MVLL Omega Ratio Rank: 89
MVLL Calmar Ratio Rank: 98
MVLL Martin Ratio Rank: 96

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.

SHPU vs. MVLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily SHOP Bull 2X ETF (SHPU) and GraniteShares 2x Long MRVL Daily ETF (MVLL). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SHPU	MVLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	5.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.65	2.35	-3.00

Drawdowns

SHPU vs. MVLL - Drawdown Comparison

The maximum SHPU drawdown since its inception was -77.97%, which is greater than MVLL's maximum drawdown of -59.02%. Use the drawdown chart below to compare losses from any high point for SHPU and MVLL.

Drawdown Indicators

	SHPU	MVLL	Difference
Max Drawdown Largest peak-to-trough decline	-77.97%	-59.02%	-18.95%
Max Drawdown (1Y) Largest decline over 1 year	—	-48.93%	—
Current Drawdown Current decline from peak	-71.86%	-33.13%	-38.73%
Average Drawdown Average peak-to-trough decline	-37.03%	-22.38%	-14.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	23.55%	—

Volatility

Volatility by Period

	SHPU	MVLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	76.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	104.23%	—
Volatility (1Y) Calculated over the trailing 1-year period	110.47%	137.34%	-26.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	110.47%	142.73%	-32.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	110.47%	142.73%	-32.26%

SHPU vs. MVLL - Expense Ratio Comparison

SHPU has a 1.09% expense ratio, which is lower than MVLL's 1.50% expense ratio.

Dividends

SHPU vs. MVLL - Dividend Comparison

SHPU's dividend yield for the trailing twelve months is around 56.43%, while MVLL has not paid dividends to shareholders.

Position	TTM	2025
MVLL GraniteShares 2x Long MRVL Daily ETF	0.00%	0.00%
SHPU Direxion Daily SHOP Bull 2X ETF	56.43%	20.05%

Frequently Asked Questions

Can I hold both SHPU and MVLL in my portfolio?

SHPU and MVLL have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SHPU or MVLL?

On fees, SHPU is cheaper at 1.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SHPU or MVLL?

SHPU is cheaper with a 1.09% expense ratio, compared with 1.50% for MVLL.

Which ETF pays a higher dividend yield, SHPU or MVLL?

SHPU has the higher dividend yield at 56.43%, compared with 0.00% for MVLL.

What is the main difference between SHPU and MVLL?

They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.09% for SHPU and 1.50% for MVLL.