VALG vs. FDRX

Last updated Jun 4, 2026

VALG (Leverage Shares 2X Long VALE Daily ETF) and FDRX (Founder-Led 2X Daily ETF) are both Leveraged Equities funds - VALG tracks the Vale S.A. (VALE) while FDRX tracks the Founder Led Index. Both are passively managed. At a 0.30 correlation, their price movements are largely independent. VALG charges 0.75%/yr vs 1.08%/yr for FDRX.

Performance

VALG vs. FDRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long VALE Daily ETF (VALG) and Founder-Led 2X Daily ETF (FDRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

VALG

• 1D: -9.01%
• 1M: 1.55%
• YTD: 35.93%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDRX

• 1D: -5.24%
• 1M: 15.26%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VALG vs. FDRX - Yearly Performance Comparison

	2026 (YTD)
VALG Leverage Shares 2X Long VALE Daily ETF	8.43%
FDRX Founder-Led 2X Daily ETF	-4.32%

Correlation

The correlation between VALG and FDRX is 0.30, 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 Jan 16, 2026	0.30

Return for Risk

VALG vs. FDRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long VALE Daily ETF (VALG) and Founder-Led 2X Daily ETF (FDRX). 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

	VALG	FDRX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.52	-0.19	+1.71

Drawdowns

VALG vs. FDRX - Drawdown Comparison

The maximum VALG drawdown since its inception was -36.93%, roughly equal to the maximum FDRX drawdown of -38.44%. Use the drawdown chart below to compare losses from any high point for VALG and FDRX.

Drawdown Indicators

	VALG	FDRX	Difference
Max Drawdown Largest peak-to-trough decline	-36.93%	-38.44%	+1.51%
Current Drawdown Current decline from peak	-21.33%	-8.21%	-13.12%
Average Drawdown Average peak-to-trough decline	-11.74%	-18.93%	+7.19%

Volatility

Volatility by Period

	VALG	FDRX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	75.74%	57.92%	+17.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.74%	57.92%	+17.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.74%	57.92%	+17.82%

VALG vs. FDRX - Expense Ratio Comparison

VALG has a 0.75% expense ratio, which is lower than FDRX's 1.08% expense ratio.

Dividends

VALG vs. FDRX - Dividend Comparison

Neither VALG nor FDRX has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both VALG and FDRX in my portfolio?

VALG and FDRX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VALG or FDRX?

On fees, VALG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VALG or FDRX?

VALG is cheaper with a 0.75% expense ratio, compared with 1.08% for FDRX.

Which ETF pays a higher dividend yield, VALG or FDRX?

VALG and FDRX have nearly identical dividend yields, around 0.00%.

What is the main difference between VALG and FDRX?

VALG tracks Vale S.A. (VALE), while FDRX tracks Founder Led Index. They also come from different issuers: Leverage Shares and Corgi Strategies. Their fees differ too: 0.75% for VALG and 1.08% for FDRX.