UCIB vs. MVRL
UCIB (ETRACS CMCI Total Return ETN Series B) and MVRL (ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN) are both exchange-traded funds - UCIB is a Commodities fund tracking the UBS Bloomberg CMCI Index, while MVRL is a REIT fund tracking the MVIS US Mortgage REITs Index (150%). Both are passively managed. Over the past 5 years, UCIB returned 11.67%/yr vs -8.77%/yr for MVRL. At a 0.17 correlation, their price movements are largely independent. UCIB charges 0.55%/yr vs 0.95%/yr for MVRL.
Performance
UCIB vs. MVRL - Performance Comparison
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Returns By Period
In the year-to-date period, UCIB achieves a 17.40% return, which is significantly higher than MVRL's -2.82% return.
UCIB
- 1D
- -0.15%
- 1M
- -5.98%
- YTD
- 17.40%
- 6M
- 17.51%
- 1Y
- 22.65%
- 3Y*
- 11.68%
- 5Y*
- 11.67%
- 10Y*
- 9.99%
MVRL
- 1D
- 1.21%
- 1M
- 0.86%
- YTD
- -2.82%
- 6M
- -2.49%
- 1Y
- 11.67%
- 3Y*
- 7.47%
- 5Y*
- -8.77%
- 10Y*
- —
UCIB vs. MVRL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UCIB ETRACS CMCI Total Return ETN Series B | 17.40% | 8.97% | 6.58% | -2.26% | 18.24% | 37.34% | 30.57% |
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | -2.82% | 14.96% | -3.45% | 12.30% | -42.41% | 21.71% | 66.40% |
Correlation
The correlation between UCIB and MVRL is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.17 |
The correlation between UCIB and MVRL shifts across timeframes, from -0.03 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UCIB vs. MVRL — Risk / Return Rank
UCIB
MVRL
UCIB vs. MVRL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS CMCI Total Return ETN Series B (UCIB) 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.
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.
| UCIB | MVRL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.09 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 0.56 | +0.72 |
| Martin ratioReturn relative to average drawdown | 3.95 | 1.45 | +2.50 |
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Drawdowns
UCIB vs. MVRL - Drawdown Comparison
The maximum UCIB drawdown since its inception was -51.29%, smaller than the maximum MVRL drawdown of -60.25%. Use the drawdown chart below to compare losses from any high point for UCIB and MVRL.
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Drawdown Indicators
| UCIB | MVRL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.29% | -60.25% | +8.96% |
Max Drawdown (1Y)Largest decline over 1 year | -17.82% | -20.93% | +3.11% |
Max Drawdown (3Y)Largest decline over 3 years | -17.82% | -32.20% | +14.38% |
Max Drawdown (5Y)Largest decline over 5 years | -20.95% | -59.63% | +38.68% |
Max Drawdown (10Y)Largest decline over 10 years | -36.94% | — | — |
Current DrawdownCurrent decline from peak | -17.82% | -38.42% | +20.60% |
Average DrawdownAverage peak-to-trough decline | -21.03% | -31.84% | +10.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.76% | 8.09% | -2.33% |
Volatility
UCIB vs. MVRL - Volatility Comparison
ETRACS CMCI Total Return ETN Series B (UCIB) has a higher volatility of 7.47% compared to ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) at 6.92%. This indicates that UCIB's price experiences larger fluctuations and is considered to be riskier 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
| UCIB | MVRL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.47% | 6.92% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 31.71% | 20.60% | +11.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.37% | 27.42% | +4.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.86% | 36.55% | -9.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.33% | 37.59% | -14.26% |
UCIB vs. MVRL - Expense Ratio Comparison
UCIB has a 0.55% expense ratio, which is lower than MVRL's 0.95% expense ratio.
Dividends
UCIB vs. MVRL - Dividend Comparison
UCIB has not paid dividends to shareholders, while MVRL's dividend yield for the trailing twelve months is around 20.90%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | 20.90% | 19.15% | 19.27% | 18.69% | 25.21% | 12.33% | 5.63% |
UCIB ETRACS CMCI Total Return ETN Series B | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UCIB and MVRL have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCIB has higher volatility (7.47%) compared to MVRL (6.92%). In terms of maximum drawdown, UCIB dropped -51.29% vs MVRL's -60.25%.
On 5-year performance, UCIB leads with 11.67% vs -8.77% for MVRL. On fees, UCIB is cheaper at 0.55% per year. On volatility, MVRL has been the lower-risk option at 6.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UCIB has performed better with a 11.67% return vs -8.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UCIB is cheaper with a 0.55% expense ratio, compared with 0.95% for MVRL.
MVRL has the higher dividend yield at 20.90%, compared with 0.00% for UCIB.
UCIB is categorized as Commodities, while MVRL is REIT. UCIB tracks UBS Bloomberg CMCI Index, while MVRL tracks MVIS US Mortgage REITs Index (150%). Their fees differ too: 0.55% for UCIB and 0.95% for MVRL.
UCIB currently has the higher Sharpe Ratio (0.70 vs 0.43), 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.
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