XXXX vs. VRTL

Last updated Jul 18, 2026

XXXX (MAX S&P 500 4X Leveraged ETN) and VRTL (GraniteShares 2x Long VRT Daily ETF) are both Leveraged Equities funds. XXXX is passively managed, while VRTL is actively managed. Over the past year, XXXX returned 41.55% vs 223.72% for VRTL. A 0.60 correlation means they provide meaningful diversification when combined. XXXX charges 2.95%/yr vs 1.50%/yr for VRTL.

Performance

XXXX vs. VRTL - Performance Comparison

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

Returns By Period

In the year-to-date period, XXXX achieves a 17.21% return, which is significantly lower than VRTL's 136.37% return.

XXXX

• 1D: -4.26%
• 1M: -0.56%
• 6M: 12.26%
• YTD: 17.21%
• 1Y: 41.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VRTL

• 1D: -7.20%
• 1M: -10.39%
• 6M: 111.36%
• YTD: 136.37%
• 1Y: 223.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XXXX vs. VRTL - Yearly Performance Comparison

	2026 (YTD)	2025
XXXX MAX S&P 500 4X Leveraged ETN	17.21%	39.54%
VRTL GraniteShares 2x Long VRT Daily ETF	136.37%	110.50%

Correlation

The correlation between XXXX and VRTL is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (All Time) Calculated using the full available price history since Mar 25, 2025	0.60

The correlation between XXXX and VRTL has been stable across timeframes, ranging from 0.58 to 0.60 - a consistent structural relationship.

Return for Risk

XXXX vs. VRTL — Risk / Return Rank

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

XXXX

XXXX Risk / Return Rank: 30
XXXX Sharpe Ratio Rank: 28
XXXX Sortino Ratio Rank: 29
XXXX Omega Ratio Rank: 30
XXXX Calmar Ratio Rank: 28
XXXX Martin Ratio Rank: 34

VRTL

VRTL Risk / Return Rank: 74
VRTL Sharpe Ratio Rank: 71
VRTL Sortino Ratio Rank: 70
VRTL Omega Ratio Rank: 65
VRTL Calmar Ratio Rank: 92
VRTL Martin Ratio Rank: 70

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. VRTL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MAX S&P 500 4X Leveraged ETN (XXXX) and GraniteShares 2x Long VRT Daily ETF (VRTL). 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.

	XXXX	VRTL	Difference
Sharpe ratio: Return per unit of total volatility	0.84	1.83	-0.99
Sortino ratio: Return per unit of downside risk	1.35	2.55	-1.19
Omega ratio: Gain probability vs. loss probability	1.17	1.31	-0.14
Calmar ratio: Return relative to maximum drawdown	1.12	4.75	-3.63
Martin ratio: Return relative to average drawdown	4.02	10.07	-6.05

XXXX vs. VRTL - Sharpe Ratio Comparison

The current XXXX Sharpe Ratio is 0.84, which is lower than the VRTL Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of XXXX and VRTL, 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

XXXX vs. VRTL - Drawdown Comparison

The maximum XXXX drawdown since its inception was -62.27%, roughly equal to the maximum VRTL drawdown of -60.58%. Use the drawdown chart below to compare losses from any high point for XXXX and VRTL.

Drawdown Indicators

	XXXX	VRTL	Difference
Max Drawdown Largest peak-to-trough decline	-62.27%	-60.58%	-1.69%
Max Drawdown (1Y) Largest decline over 1 year	-37.25%	-47.45%	+10.20%
Current Drawdown Current decline from peak	-11.97%	-45.73%	+33.76%
Average Drawdown Average peak-to-trough decline	-11.51%	-16.99%	+5.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.36%	22.32%	-11.96%

Volatility

XXXX vs. VRTL - Volatility Comparison

The current volatility for MAX S&P 500 4X Leveraged ETN (XXXX) is 14.14%, while GraniteShares 2x Long VRT Daily ETF (VRTL) has a volatility of 49.35%. This indicates that XXXX experiences smaller price fluctuations and is considered to be less risky than VRTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XXXX	VRTL	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.14%	49.35%	-35.21%
Volatility (6M) Calculated over the trailing 6-month period	39.97%	95.48%	-55.51%
Volatility (1Y) Calculated over the trailing 1-year period	49.88%	123.17%	-73.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.75%	127.51%	-66.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.75%	127.51%	-66.76%

XXXX vs. VRTL - Expense Ratio Comparison

XXXX has a 2.95% expense ratio, which is higher than VRTL's 1.50% expense ratio.

Dividends

XXXX vs. VRTL - Dividend Comparison

Neither XXXX nor VRTL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XXXX and VRTL in my portfolio?

XXXX and VRTL 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, XXXX or VRTL?

VRTL has higher volatility (49.35%) compared to XXXX (14.14%). In terms of maximum drawdown, XXXX dropped -62.27% vs VRTL's -60.58%.

Which ETF is better, XXXX or VRTL?

On 1-year performance, VRTL leads with 223.72% vs 41.55% for XXXX. On fees, VRTL is cheaper at 1.50% per year. On volatility, XXXX has been the lower-risk option at 14.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XXXX or VRTL?

Over the 1-year period, VRTL has performed better with a 223.72% return vs 41.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XXXX or VRTL?

VRTL is cheaper with a 1.50% expense ratio, compared with 2.95% for XXXX.

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

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

What is the main difference between XXXX and VRTL?

They also come from different issuers: Max and GraniteShares. Their fees differ too: 2.95% for XXXX and 1.50% for VRTL.

Which has better risk-adjusted returns?

VRTL currently has the higher Sharpe Ratio (1.83 vs 0.84), 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.