VRTL vs. MVLL

Last updated Aug 2, 2026

VRTL (GraniteShares 2x Long VRT Daily ETF) and MVLL (GraniteShares 2x Long MRVL Daily ETF) are both Leveraged Equities funds from GraniteShares. VRTL is actively managed, while MVLL is passively managed. Over the past year, VRTL returned 64.41% vs 195.07% for MVLL. Their 0.59 correlation means they have sometimes moved together and sometimes differently. Both charge a 1.50% expense ratio.

Performance

VRTL vs. MVLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long VRT Daily ETF (VRTL) 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, VRTL achieves a 49.92% return, which is significantly lower than MVLL's 183.32% return.

VRTL

• 1D: 12.49%
• 1M: -40.41%
• 6M: 17.15%
• YTD: 49.92%
• 1Y: 64.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 134.30%

MVLL

• 1D: 4.74%
• 1M: -46.40%
• 6M: 236.40%
• YTD: 183.32%
• 1Y: 195.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 97.66%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MVLL GraniteShares 2x Long MRVL Daily ETF	$64.72M	$85.12M	$269.82M
VRTL GraniteShares 2x Long VRT Daily ETF	$7.19M	$7.02M	$12.49M

VRTL vs. MVLL - Yearly Performance Comparison

	2026 (YTD)	2025
VRTL GraniteShares 2x Long VRT Daily ETF	49.92%	110.50%
MVLL GraniteShares 2x Long MRVL Daily ETF	183.32%	-13.34%

Correlation

The correlation between VRTL and MVLL is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.58
Correlation (All Time) Calculated using the full available price history since Mar 25, 2025	0.59

The correlation between VRTL and MVLL has been stable across timeframes, ranging from 0.58 to 0.59 - a consistent structural relationship.

VRTL vs. MVLL - Sectors Allocation Comparison

Sectors	VRTL	MVLL
Industrials	66.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	66.6%
Utilities	-	-

Return for Risk

VRTL vs. MVLL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VRTL

VRTL Risk / Return Rank: 30
VRTL Sharpe Ratio Rank: 21
VRTL Sortino Ratio Rank: 40
VRTL Omega Ratio Rank: 40
VRTL Calmar Ratio Rank: 25
VRTL Martin Ratio Rank: 26

MVLL

MVLL Risk / Return Rank: 54
MVLL Sharpe Ratio Rank: 40
MVLL Sortino Ratio Rank: 66
MVLL Omega Ratio Rank: 67
MVLL Calmar Ratio Rank: 54
MVLL Martin Ratio Rank: 45

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VRTL vs. MVLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long VRT Daily ETF (VRTL) 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.

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.

	VRTL	MVLL	Difference
Sharpe ratio: Return per unit of total volatility	0.42	0.98	-0.56
Sortino ratio: Return per unit of downside risk	1.50	2.17	-0.67
Omega ratio: Gain probability vs. loss probability	1.19	1.28	-0.09
Calmar ratio: Return relative to maximum drawdown	0.77	1.94	-1.17
Martin ratio: Return relative to average drawdown	2.20	5.10	-2.91

VRTL vs. MVLL - Sharpe Ratio Comparison

The current VRTL Sharpe Ratio is 0.42, which is lower than the MVLL Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of VRTL and MVLL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VRTL vs. MVLL - Drawdown Comparison

The maximum VRTL drawdown since its inception was -70.53%, smaller than the maximum MVLL drawdown of -78.87%. Use the drawdown chart below to compare losses from any high point for VRTL and MVLL.

Drawdown Indicators

	VRTL	MVLL	Difference
Max Drawdown Largest peak-to-trough decline	-70.53%	-78.87%	+8.34%
Max Drawdown (1Y) Largest decline over 1 year	-70.53%	-78.87%	+8.34%
Current Drawdown Current decline from peak	-65.58%	-72.55%	+6.97%
Average Drawdown Average peak-to-trough decline	-18.14%	-25.03%	+6.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.96%	30.22%	-5.26%

Volatility

VRTL vs. MVLL - Volatility Comparison

The current volatility for GraniteShares 2x Long VRT Daily ETF (VRTL) is 52.00%, while GraniteShares 2x Long MRVL Daily ETF (MVLL) has a volatility of 55.64%. This indicates that VRTL experiences smaller price fluctuations and is considered to be less risky than MVLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VRTL	MVLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	52.00%	55.64%	-3.64%
Volatility (6M) Calculated over the trailing 6-month period	106.22%	129.12%	-22.90%
Volatility (1Y) Calculated over the trailing 1-year period	128.88%	155.64%	-26.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	130.52%	151.11%	-20.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	130.52%	151.11%	-20.59%

VRTL vs. MVLL - Expense Ratio Comparison

Both VRTL and MVLL have an expense ratio of 1.50%.

Dividends

VRTL vs. MVLL - Dividend Comparison

Neither VRTL nor MVLL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both VRTL and MVLL in my portfolio?

VRTL and MVLL have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VRTL or MVLL?

MVLL has higher volatility (55.64%) compared to VRTL (52.00%). In terms of maximum drawdown, VRTL dropped -70.53% vs MVLL's -78.87%.

Which ETF is better, VRTL or MVLL?

On 1-year performance, MVLL leads with 195.07% vs 64.41% for VRTL. Both ETFs have the same 1.50% expense ratio. On volatility, VRTL has been the lower-risk option at 52.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VRTL or MVLL?

Over the 1-year period, MVLL has performed better with a 195.07% return vs 64.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VRTL or MVLL?

VRTL and MVLL have the same expense ratio: 1.50% per year.

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

VRTL and MVLL have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

MVLL currently has the higher Sharpe Ratio (0.98 vs 0.42), 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.