XXXX vs. ADBG

Last updated Jun 4, 2026

XXXX (MAX S&P 500 4X Leveraged ETN) and ADBG (Leverage Shares 2X Long ADBE Daily ETF) are both Leveraged Equities funds. XXXX is passively managed, while ADBG is actively managed. Over the past year, XXXX returned 86.73% vs -70.05% for ADBG. At a 0.30 correlation, their price movements are largely independent. XXXX charges 2.95%/yr vs 0.75%/yr for ADBG.

Performance

XXXX vs. ADBG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MAX S&P 500 4X Leveraged ETN (XXXX) and Leverage Shares 2X Long ADBE Daily ETF (ADBG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XXXX achieves a 29.32% return, which is significantly higher than ADBG's -52.94% return.

XXXX

• 1D: -2.88%
• 1M: 18.44%
• YTD: 29.32%
• 6M: 26.06%
• 1Y: 86.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ADBG

• 1D: -4.56%
• 1M: -1.43%
• YTD: -52.94%
• 6M: -46.73%
• 1Y: -70.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XXXX vs. ADBG - Yearly Performance Comparison

	2026 (YTD)	2025
XXXX MAX S&P 500 4X Leveraged ETN	29.32%	49.18%
ADBG Leverage Shares 2X Long ADBE Daily ETF	-52.94%	-30.89%

Correlation

The correlation between XXXX and ADBG is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (All Time) Calculated using the full available price history since Mar 24, 2025	0.30

The correlation between XXXX and ADBG shifts across timeframes, from 0.20 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XXXX vs. ADBG — Risk / Return Rank

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

XXXX

XXXX Risk / Return Rank: 49
XXXX Sharpe Ratio Rank: 53
XXXX Sortino Ratio Rank: 45
XXXX Omega Ratio Rank: 47
XXXX Calmar Ratio Rank: 46
XXXX Martin Ratio Rank: 52

ADBG

ADBG Risk / Return Rank: 1
ADBG Sharpe Ratio Rank: 1
ADBG Sortino Ratio Rank: 1
ADBG Omega Ratio Rank: 1
ADBG Calmar Ratio Rank: 1
ADBG Martin Ratio Rank: 2

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.

XXXX vs. ADBG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MAX S&P 500 4X Leveraged ETN (XXXX) and Leverage Shares 2X Long ADBE Daily ETF (ADBG). 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.

	XXXX	ADBG	Difference
Sharpe ratio: Return per unit of total volatility	1.86	-1.05	+2.91
Sortino ratio: Return per unit of downside risk	2.31	-1.88	+4.19
Omega ratio: Gain probability vs. loss probability	1.30	0.78	+0.53
Calmar ratio: Return relative to maximum drawdown	2.34	-0.92	+3.26
Martin ratio: Return relative to average drawdown	8.95	-1.40	+10.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XXXX vs. ADBG - Sharpe Ratio Comparison

The current XXXX Sharpe Ratio is 1.86, which is higher than the ADBG Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of XXXX and ADBG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XXXX	ADBG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	-1.05	+2.91
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	-0.91	+1.78

Drawdowns

XXXX vs. ADBG - Drawdown Comparison

The maximum XXXX drawdown since its inception was -62.27%, smaller than the maximum ADBG drawdown of -76.71%. Use the drawdown chart below to compare losses from any high point for XXXX and ADBG.

Drawdown Indicators

	XXXX	ADBG	Difference
Max Drawdown Largest peak-to-trough decline	-62.27%	-76.71%	+14.44%
Max Drawdown (1Y) Largest decline over 1 year	-37.25%	-76.23%	+38.98%
Current Drawdown Current decline from peak	-2.88%	-71.42%	+68.54%
Average Drawdown Average peak-to-trough decline	-11.60%	-41.64%	+30.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.73%	50.12%	-40.39%

Volatility

XXXX vs. ADBG - Volatility Comparison

The current volatility for MAX S&P 500 4X Leveraged ETN (XXXX) is 11.32%, while Leverage Shares 2X Long ADBE Daily ETF (ADBG) has a volatility of 27.71%. This indicates that XXXX experiences smaller price fluctuations and is considered to be less risky than ADBG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XXXX	ADBG	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.32%	27.71%	-16.39%
Volatility (6M) Calculated over the trailing 6-month period	35.41%	56.21%	-20.80%
Volatility (1Y) Calculated over the trailing 1-year period	46.83%	67.26%	-20.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.75%	66.94%	-6.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.75%	66.94%	-6.19%

XXXX vs. ADBG - Expense Ratio Comparison

XXXX has a 2.95% expense ratio, which is higher than ADBG's 0.75% expense ratio.

Dividends

XXXX vs. ADBG - Dividend Comparison

Neither XXXX nor ADBG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XXXX and ADBG in my portfolio?

XXXX and ADBG have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XXXX or ADBG?

ADBG has higher volatility (27.71%) compared to XXXX (11.32%). In terms of maximum drawdown, XXXX dropped -62.27% vs ADBG's -76.71%.

Which ETF is better, XXXX or ADBG?

On 1-year performance, XXXX leads with 86.73% vs -70.05% for ADBG. On fees, ADBG is cheaper at 0.75% per year. On volatility, XXXX has been the lower-risk option at 11.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XXXX or ADBG?

Over the 1-year period, XXXX has performed better with a 86.73% return vs -70.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XXXX or ADBG?

ADBG is cheaper with a 0.75% expense ratio, compared with 2.95% for XXXX.

Which ETF pays a higher dividend yield, XXXX or ADBG?

XXXX and ADBG have nearly identical dividend yields, around 0.00%.

What is the main difference between XXXX and ADBG?

They also come from different issuers: Max and Leverage Shares. Their fees differ too: 2.95% for XXXX and 0.75% for ADBG.

Which has better risk-adjusted returns?

XXXX currently has the higher Sharpe Ratio (1.86 vs -1.05), 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.