Skip to content
etf.net

MVPL vs USLX

Miller Value Partners Leverage ETF

MVPLDNYSE Arca

Corgi U.S. Large-Cap 2x Daily ETF

USLXCCboe

Overlap

Expense ratio

USLX −1.52pt a year

MVPL1.72%USLX0.20%

Avg volume · 30D

MVPL 1.9×the volume

MVPL3.49KUSLX1.83K

MVPL vs USLX Performance

Jul 31, 2026 – Oct 30, 2026

+0.7%MVPL−0.3%USLX

Jul 31, 2026 to Oct 30, 2026. MVPL +0.7%. USLX −0.3%. Use the arrow keys to read each point.2%4%6%8%Jul 2026Sep 2026Oct 2026
Expense ratio
MVPL 1.72%
USLX 0.20%, better
Fund size
MVPL $32M
USLX $2M
1Y total return
MVPL +14.5%
USLX No data
Yield (12M)
MVPL 0.94%
USLX No data
Holdings
MVPL 1
USLX 1
Avg volume (30D)
MVPL 3.49K sh, better
USLX 1.83K sh
NAV per share
MVPL $44.18
USLX $23.93
52W range

ETF.net Grade

MVPL: Cost 6, Risk 74, Mission 0, Tradability 37, Holdings 51, Durability 40. USLX: Cost 94, Risk 63, Mission not scored, Tradability 27, Holdings not scored, Durability 21.
Pillar letters and Scores for MVPL, USLX, with each pillar’s weight
PillarMVPLUSLX
Cost30% weightF6A94Higher
Mission25% weightF0Not scored
Risk15% weightA74HigherB63
Tradability15% weightD37HigherD27
Holdings10% weightC51Not scored
Durability5% weightC40HigherF21

Rank among 2x/3x Long S&P 500 funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. MVPL and USLX are both graded against the same 7 2x/3x Long S&P 500 funds, so their Grades compare head to head.

2x/3x Long S&P 500⁠

Category · 7 funds
See all 7 ›

USLX ranks 5th and MVPL 7th of 7 funds in the 2x/3x Long S&P 500 Category.

  1. Rank 5CUSGXCorgi U.S. Growth 2x Daily ETFScore 40
  2. Rank 5CUSLXCorgi U.S. Large-Cap 2x Daily ETFScore 40
  3. Rank 7DMVPLMiller Value Partners Leverage ETFScore 31

Our read on each fund

ETF.net Research

MVPLDMiller Value Partners Leverage ETF

USLXCCorgi U.S. Large-Cap 2x Daily ETF

In short

MVPL Most 2x S&P 500 funds leave the leverage on all day, every day. MVPL is the one with a switch: an active fund that flips between plain index exposure and 2x leveraged ETFs on its adviser's daily signal.

USLX No data

Stated mandate

MVPL The fund seeks capital appreciation through active management of equity securities, index-tracking and leveraged ETFs, and swaps linked to the S&P 500, using daily signals to vary leveraged or unleveraged exposure.

USLX No data

Why people hold it

  • MVPL Leverage with an off switch: when the signal says no, the fund sits in unleveraged S&P 500 exposure, something the always-on 2x and 3x funds in this category cannot do.sec.gov
  • Exposure is set by daily signals rather than fixed at 2x forever, so the leverage dial moves with conditions instead of running wide open through every market.
  • When leverage is on, it buys established 2x S&P 500 ETFs such as SSO and SPUU rather than building the exposure itself. Live since 2024.sec.gov

USLX No data

Worth knowing

  • MVPL The 1.72% fee is above the category median, and straight 2x peers cost less: SSO charges 0.84% net of a waiver through September 30, 2027.
  • It does not target a set leverage level, and the 2x ETFs it holds reset daily, so results over several days can drift from twice the index move.sec.gov
  • A small fund that trades lightly, so the spread you pay at the point of trade is part of the real cost of owning it.

USLX No data

Full MVPL profile⁠

Full USLX profile⁠

MVPL vs USLX Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

MVPL vs USLX Cost

Overpaying MVPL vs USLX

$25,153

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • MVPL 1.72%

    $29,308

  • USLX 0.20%

    $4,155

$10,000
30 years

Cost over time

  • MVPL 1.72%
  • USLX 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530MVPL $29,308USLX $4,155

Year by year

YearMVPLUSLXOverpaying
10$2,943$365$2,578
20$10,712$1,421$9,291
30$29,308$4,155$25,153

Expense ratio

  • 1.72%MVPL
  • 0.20%USLX, cheaper
  • Middle half of 2x/3x Long S&P 500 funds
  • Median 0.84%

USLX cheapest of 7 funds

MVPL 7th cheapest of 7 funds

MVPL vs USLX Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
MVPL 0.94%
USLX No data
Payout (12M)
MVPL $0.40
USLX None
Last payment
MVPL $0.40
USLX No data
Ex-dividend
MVPL Dec 18, 2025
USLX No data
Paid on
MVPL Dec 19, 2025
USLX No data
Frequency
MVPL Irregular
USLX No data

Distribution history

Per share, 2024 to 2026, same scale for both

MVPLIrregular · 2 paymentsAll MVPL payments⁠
One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 27, 2024 $2.07; Dec 18, 2025 $0.40. Use the arrow keys to read each point.$0$22026YTD
USLXAll USLX payments⁠

No distribution history available.

MVPL vs USLX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MVPL 21.2%since Mar 2024USLX No data
Return per unit of riskSharpe ratio, 3 years
MVPL 0.96since Mar 2024USLX No data
Worst fallMax drawdown, 5 years
MVPL −25.7%since Feb 2024USLX No data
Market sensitivityBeta, 5 years
MVPL 1.83USLX 1.82

Popular comparisons

  • MVPLDvsSSOB

    Miller Value Partners Leverage ETF · ProShares Ultra S&P500

    Expense ratio
    1.72% · 0.84%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • USLXCvsSSOB

    Corgi U.S. Large-Cap 2x Daily ETF · ProShares Ultra S&P500

    Expense ratio
    0.20% · 0.84%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • MVPLDvsSPUUB

    Miller Value Partners Leverage ETF · Direxion Daily S&P 500 Bull 2X ETF

    Expense ratio
    1.72% · 0.60%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • USLXCvsSPUUB

    Corgi U.S. Large-Cap 2x Daily ETF · Direxion Daily S&P 500 Bull 2X ETF

    Expense ratio
    0.20% · 0.60%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • MVPLDvsSPXLB

    Miller Value Partners Leverage ETF · Direxion Daily S&P 500 Bull 3X Shares

    Expense ratio
    1.72% · 0.84%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • USLXCvsSPXLB

    Corgi U.S. Large-Cap 2x Daily ETF · Direxion Daily S&P 500 Bull 3X Shares

    Expense ratio
    0.20% · 0.84%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.