USML vs. BEG
USML (ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN) and BEG (Leverage Shares 2X Long BE Daily ETF) are both Leveraged Equities funds. USML is passively managed, while BEG is actively managed. At a 0.06 correlation, their price movements are largely independent. USML charges 0.95%/yr vs 0.75%/yr for BEG.
Performance
USML vs. BEG - Performance Comparison
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Returns By Period
In the year-to-date period, USML achieves a -0.53% return, which is significantly lower than BEG's 658.88% return.
USML
- 1D
- 0.60%
- 1M
- -4.40%
- YTD
- -0.53%
- 6M
- -1.84%
- 1Y
- 1.32%
- 3Y*
- 14.47%
- 5Y*
- 7.17%
- 10Y*
- —
BEG
- 1D
- -13.66%
- 1M
- 4.00%
- YTD
- 658.88%
- 6M
- 577.94%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USML vs. BEG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
USML ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN | -0.53% | -0.62% |
BEG Leverage Shares 2X Long BE Daily ETF | 658.88% | 1.77% |
Correlation
The correlation between USML and BEG is 0.06, 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 (All Time) Calculated using the full available price history since Dec 16, 2025 | 0.06 |
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Return for Risk
USML vs. BEG — Risk / Return Rank
USML
BEG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
USML vs. BEG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN (USML) and Leverage Shares 2X Long BE Daily ETF (BEG). 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.
| USML | BEG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.03 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | — | — |
| Martin ratioReturn relative to average drawdown | 0.29 | — | — |
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Drawdowns
USML vs. BEG - Drawdown Comparison
The maximum USML drawdown since its inception was -35.34%, smaller than the maximum BEG drawdown of -59.85%. Use the drawdown chart below to compare losses from any high point for USML and BEG.
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Drawdown Indicators
| USML | BEG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.34% | -59.85% | +24.51% |
Max Drawdown (1Y)Largest decline over 1 year | -13.09% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -19.14% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -35.34% | — | — |
Current DrawdownCurrent decline from peak | -6.96% | -13.66% | +6.70% |
Average DrawdownAverage peak-to-trough decline | -10.36% | -16.74% | +6.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.50% | — | — |
Volatility
USML vs. BEG - Volatility Comparison
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Volatility by Period
| USML | BEG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.79% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 11.79% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 16.52% | 212.91% | -196.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.47% | 212.91% | -188.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.22% | 212.91% | -188.69% |
USML vs. BEG - Expense Ratio Comparison
USML has a 0.95% expense ratio, which is higher than BEG's 0.75% expense ratio.
Dividends
USML vs. BEG - Dividend Comparison
Neither USML nor BEG has paid dividends to shareholders.
Frequently Asked Questions
USML and BEG have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BEG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BEG is cheaper with a 0.75% expense ratio, compared with 0.95% for USML.
USML and BEG have nearly identical dividend yields, around 0.00%.
They also come from different issuers: UBS and Leverage Shares. Their fees differ too: 0.95% for USML and 0.75% for BEG.
Find the right allocation for USML and BEG
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