DULL vs. MOOD
DULL (MicroSectors Gold -3X Inverse Leveraged ETN) and MOOD (Relative Sentiment Tactical Allocation ETF) are both exchange-traded funds - DULL is a Inverse Commodities fund tracking the LBMA Gold Price PM ($/ozt) (-300%), while MOOD is a Tactical Allocation fund actively managed by Relative Sentiment. DULL is passively managed, while MOOD is actively managed. Over the past 3 years, DULL returned -60.20%/yr vs 20.74%/yr for MOOD. At a correlation of -0.48, they often move in opposite directions. DULL charges 0.95%/yr vs 0.73%/yr for MOOD.
Performance
DULL vs. MOOD - Performance Comparison
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Returns By Period
In the year-to-date period, DULL achieves a -18.55% return, which is significantly lower than MOOD's 14.84% return.
DULL
- 1D
- 2.07%
- 1M
- 20.62%
- YTD
- -18.55%
- 6M
- -12.28%
- 1Y
- -64.27%
- 3Y*
- -60.20%
- 5Y*
- —
- 10Y*
- —
MOOD
- 1D
- -0.26%
- 1M
- 1.70%
- YTD
- 14.84%
- 6M
- 14.27%
- 1Y
- 36.80%
- 3Y*
- 20.74%
- 5Y*
- —
- 10Y*
- —
DULL vs. MOOD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DULL MicroSectors Gold -3X Inverse Leveraged ETN | -18.55% | -80.59% | -51.68% | -28.84% |
MOOD Relative Sentiment Tactical Allocation ETF | 14.84% | 30.39% | 12.53% | 7.75% |
Correlation
The correlation between DULL and MOOD is -0.68, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.53 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2023 | -0.48 |
Over the past year, the inverse relationship between DULL and MOOD has strengthened: their correlation has moved from -0.48 to -0.68, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
DULL vs. MOOD — Risk / Return Rank
DULL
MOOD
DULL vs. MOOD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold -3X Inverse Leveraged ETN (DULL) and Relative Sentiment Tactical Allocation ETF (MOOD). 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.
| DULL | MOOD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.34 | ||
| Sortino ratioReturn per unit of downside risk | -4.29 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.49 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 3.81 | -4.59 |
| Martin ratioReturn relative to average drawdown | -1.11 | 11.75 | -12.86 |
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Drawdowns
DULL vs. MOOD - Drawdown Comparison
The maximum DULL drawdown since its inception was -97.12%, which is greater than MOOD's maximum drawdown of -14.34%. Use the drawdown chart below to compare losses from any high point for DULL and MOOD.
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Drawdown Indicators
| DULL | MOOD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.12% | -14.34% | -82.78% |
Max Drawdown (1Y)Largest decline over 1 year | -81.97% | -9.71% | -72.26% |
Max Drawdown (3Y)Largest decline over 3 years | -97.12% | -9.71% | -87.41% |
Current DrawdownCurrent decline from peak | -94.75% | -0.72% | -94.03% |
Average DrawdownAverage peak-to-trough decline | -59.75% | -2.31% | -57.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 57.96% | 3.14% | +54.82% |
Volatility
DULL vs. MOOD - Volatility Comparison
MicroSectors Gold -3X Inverse Leveraged ETN (DULL) has a higher volatility of 23.50% compared to Relative Sentiment Tactical Allocation ETF (MOOD) at 4.24%. This indicates that DULL's price experiences larger fluctuations and is considered to be riskier than MOOD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DULL | MOOD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.50% | 4.24% | +19.26% |
Volatility (6M)Calculated over the trailing 6-month period | 70.05% | 12.82% | +57.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 81.04% | 14.59% | +66.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.84% | 12.15% | +46.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.84% | 12.15% | +46.69% |
DULL vs. MOOD - Expense Ratio Comparison
DULL has a 0.95% expense ratio, which is higher than MOOD's 0.73% expense ratio.
Dividends
DULL vs. MOOD - Dividend Comparison
DULL has not paid dividends to shareholders, while MOOD's dividend yield for the trailing twelve months is around 0.35%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DULL MicroSectors Gold -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MOOD Relative Sentiment Tactical Allocation ETF | 0.35% | 0.40% | 1.33% | 1.34% | 1.43% |
Frequently Asked Questions
DULL and MOOD have a correlation of -0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DULL has higher volatility (23.50%) compared to MOOD (4.24%). In terms of maximum drawdown, DULL dropped -97.12% vs MOOD's -14.34%.
On 3-year performance, MOOD leads with 20.74% vs -60.20% for DULL. On fees, MOOD is cheaper at 0.73% per year. On volatility, MOOD has been the lower-risk option at 4.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MOOD has performed better with a 20.74% return vs -60.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MOOD is cheaper with a 0.73% expense ratio, compared with 0.95% for DULL.
MOOD has the higher dividend yield at 0.35%, compared with 0.00% for DULL.
DULL is categorized as Inverse Commodities, while MOOD is Tactical Allocation. They also come from different issuers: REX and Relative Sentiment. Their fees differ too: 0.95% for DULL and 0.73% for MOOD.
MOOD currently has the higher Sharpe Ratio (2.54 vs -0.80), 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.
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