- CUSIP
- 38747R 678
- Issuer
- GraniteShares
- Inception Date
- Nov 11, 2024
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Assets Under Management
- $1B
Share Price Chart
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Performance
MULL Performance Chart
GraniteShares 2x Long MU Daily ETF (MULL) is up 706.2% since the beginning of the year. MULL is currently trading at $723 per share.
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Returns By Period
GraniteShares 2x Long MU Daily ETF (MULL) has returned 706.24% so far this year and 3,655.37% over the past 12 months.
GraniteShares 2x Long MU Daily ETF
- 1D
- -3.04%
- 1M
- 32.25%
- YTD
- 706.24%
- 6M
- 994.73%
- 1Y
- 3,655.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.50%
- 1M
- -0.17%
- YTD
- 8.56%
- 6M
- 8.85%
- 1Y
- 22.93%
- 3Y*
- 19.37%
- 5Y*
- 11.84%
- 10Y*
- 13.61%
MULL Monthly Returns History
Based on dividend-adjusted daily data since Nov 12, 2024, MULL's average daily return is +1.27%, while the average monthly return is +31.32%. At this rate, an investment would double in approximately 0.2 years.
Historically, 60% of months were positive and 40% were negative. The best month was May 2026 with a return of +217.6%, while the worst month was Mar 2026 at -37.2%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 2 months.
On a daily basis, MULL closed higher 55% of trading days. The best single day was May 26, 2026 with a return of +38.9%, while the worst single day was Dec 19, 2024 at -32.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 100.21% | -5.74% | -37.16% | 124.36% | 217.64% | -4.60% | 706.24% | ||||||
| 2025 | 11.02% | 1.98% | -17.38% | -31.12% | 46.42% | 66.12% | -23.32% | 15.57% | 90.84% | 71.17% | 4.77% | 38.54% | 558.51% |
| 2024 | -11.54% | -31.31% | -39.23% |
Benchmark Metrics
GraniteShares 2x Long MU Daily ETF has an annualized alpha of 1054.88%, beta of 4.88, and R2 of 0.36 versus S&P 500 Index. Calculated based on daily prices since November 12, 2024.
- This ETF captured 20713.57% of S&P 500 Index gains and 336.19% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- R2 of 0.36 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 1,054.88%
- Beta
- 4.88
- R²
- 0.36
- Upside Capture
- 20,713.57%
- Downside Capture
- 336.19%
Expense Ratio
MULL has a high expense ratio of 1.50%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MULL ranks 98 for risk / return — in the top 98% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for GraniteShares 2x Long MU Daily ETF (MULL) and compare them to S&P 500 Index.
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.
| MULL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +24.72 | ||
| Sortino ratioReturn per unit of downside risk | +3.35 | ||
| Omega ratioGain probability vs. loss probability | 1.74 | 1.34 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 69.88 | 2.53 | +67.35 |
| Martin ratioReturn relative to average drawdown | 225.31 | 11.37 | +213.94 |
Dividends
Dividend History
GraniteShares 2x Long MU Daily ETF provided a 0.05% dividend yield over the last twelve months, with an annual payout of $0.35 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $0.35 | $0.35 |
Dividend yield | 0.05% | 0.39% |
Monthly Dividends
The table displays the monthly dividend distributions for GraniteShares 2x Long MU Daily ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.35 | $0.35 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the GraniteShares 2x Long MU Daily ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the GraniteShares 2x Long MU Daily ETF was 72.29%, occurring on Apr 4, 2025. Recovery took 107 trading sessions.
The current GraniteShares 2x Long MU Daily ETF drawdown is 22.24%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -72.29%Apr 2025 | 3mo 17d | 5mo 8d | 8mo 25dDec 2024 - Sep 2025 |
2026 bear market2026 | -53.09%Mar 2026 | 11d | 23d | 1mo 4dMar 2026 - Apr 2026 |
2025 bear market2025 | -38.87%Nov 2025 | 9d | 20d | 29dNov 2025 - Dec 2025 |
2026 bear market2026 | -37.74%Jun 2026 | 1d | — | 9d 18hJun 2026 - now |
2026 bear market2026 | -32.76%Mar 2026 | 1mo 1d | 11d | 1mo 12dFeb 2026 - Mar 2026 |
Drawdown Indicators
| MULL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.29% | -56.78% | -15.51% |
Max Drawdown (1Y)Largest decline over 1 year | -53.09% | -9.10% | -43.99% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -22.24% | -2.34% | -19.90% |
Average DrawdownAverage peak-to-trough decline | -20.67% | -10.72% | -9.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.43% | 2.02% | +14.41% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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