USML vs. HOOG

Last updated Apr 2, 2026

Compare and contrast key facts about ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN (USML) and Leverage Shares 2X Long HOOD Daily ETF (HOOG).

USML and HOOG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. USML is a passively managed fund by UBS that tracks the performance of the MSCI USA Minimum Volatility Index. It was launched on Feb 4, 2021. HOOG is an actively managed fund by Leverage Shares. It was launched on Mar 20, 2025.

Performance

USML vs. HOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN (USML) and Leverage Shares 2X Long HOOD Daily ETF (HOOG). The values are adjusted to include any dividend payments, if applicable.

USML vs. HOOG - Yearly Performance Comparison

	2026 (YTD)	2025
USML ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN	-3.90%	1.84%
HOOG Leverage Shares 2X Long HOOD Daily ETF	-67.70%	291.44%

Returns By Period

In the year-to-date period, USML achieves a -3.90% return, which is significantly higher than HOOG's -67.70% return.

USML

• 1D: 0.19%
• 1M: -10.11%
• YTD: -3.90%
• 6M: -5.95%
• 1Y: -4.80%
• 3Y*: 13.03%
• 5Y*: 8.46%
• 10Y*: —

HOOG

• 1D: 2.51%
• 1M: -24.23%
• YTD: -67.70%
• 6M: -82.07%
• 1Y: 43.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USML vs. HOOG - Expense Ratio Comparison

USML has a 0.95% expense ratio, which is higher than HOOG's 0.75% expense ratio.

USML

ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN

HOOG

Leverage Shares 2X Long HOOD Daily ETF

Return for Risk

USML vs. HOOG — Risk / Return Rank

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

USML

USML Risk / Return Rank: 7
USML Sharpe Ratio Rank: 8
USML Sortino Ratio Rank: 8
USML Omega Ratio Rank: 8
USML Calmar Ratio Rank: 7
USML Martin Ratio Rank: 3

HOOG

HOOG Risk / Return Rank: 32
HOOG Sharpe Ratio Rank: 19
HOOG Sortino Ratio Rank: 55
HOOG Omega Ratio Rank: 44
HOOG Calmar Ratio Rank: 23
HOOG Martin Ratio Rank: 19

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.

USML vs. HOOG - 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 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.

	USML	HOOG	Difference
Sharpe ratio Return per unit of total volatility	-0.20	0.30	-0.50
Sortino ratio Return per unit of downside risk	-0.11	1.50	-1.61
Omega ratio Gain probability vs. loss probability	0.98	1.18	-0.19
Calmar ratio Return relative to maximum drawdown	-0.28	0.53	-0.81
Martin ratio Return relative to average drawdown	-1.14	1.11	-2.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USML vs. HOOG - Sharpe Ratio Comparison

The current USML Sharpe Ratio is -0.20, which is lower than the HOOG Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of USML and HOOG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	USML	HOOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.20	0.30	-0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.18	+0.21

Correlation

The correlation between USML and HOOG is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

USML vs. HOOG - Dividend Comparison

USML has not paid dividends to shareholders, while HOOG's dividend yield for the trailing twelve months is around 38.10%.

	TTM	2025
USML ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN	0.00%	0.00%
HOOG Leverage Shares 2X Long HOOD Daily ETF	38.10%	12.30%

Drawdowns

USML vs. HOOG - Drawdown Comparison

The maximum USML drawdown since its inception was -35.34%, smaller than the maximum HOOG drawdown of -86.94%. Use the drawdown chart below to compare losses from any high point for USML and HOOG.

Drawdown Indicators

	USML	HOOG	Difference
Max Drawdown Largest peak-to-trough decline	-35.34%	-86.94%	+51.60%
Max Drawdown (1Y) Largest decline over 1 year	-17.38%	-86.94%	+69.56%
Max Drawdown (5Y) Largest decline over 5 years	-35.34%	—	—
Current Drawdown Current decline from peak	-10.11%	-84.94%	+74.83%
Average Drawdown Average peak-to-trough decline	-10.54%	-30.17%	+19.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	41.37%	-37.08%

Volatility

USML vs. HOOG - Volatility Comparison

The current volatility for ETRACS 2x Leveraged MSCI US Minimum Volatility Factor TR ETN (USML) is 5.91%, while Leverage Shares 2X Long HOOD Daily ETF (HOOG) has a volatility of 35.44%. This indicates that USML 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

	USML	HOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.91%	35.44%	-29.53%
Volatility (6M) Calculated over the trailing 6-month period	12.01%	100.78%	-88.77%
Volatility (1Y) Calculated over the trailing 1-year period	24.40%	143.11%	-118.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.55%	143.62%	-119.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.53%	143.62%	-119.09%