EVAV vs. MULL

Last updated Jun 4, 2026

EVAV (Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. EVAV is passively managed, while MULL is actively managed. At a 0.31 correlation, their price movements are largely independent. EVAV charges 0.98%/yr vs 1.50%/yr for MULL.

Performance

EVAV vs. MULL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) and GraniteShares 2x Long MU Daily ETF (MULL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EVAV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MULL

• 1D: 2.92%
• 1M: 216.81%
• YTD: 936.86%
• 6M: 1,369.93%
• 1Y: 6,074.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVAV vs. MULL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EVAV Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares	0.00%	33.87%	11.16%
MULL GraniteShares 2x Long MU Daily ETF	936.86%	558.51%	-40.10%

Correlation

The correlation between EVAV and MULL is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (All Time) Calculated using the full available price history since Nov 13, 2024	0.31

The correlation between EVAV and MULL shifts across timeframes, from 0.17 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.

EVAV vs. MULL - Sectors Allocation Comparison

Sectors	EVAV	MULL
Consumer Cyclical	22.3%	-
Technology	2.7%	66.7%
Industrials	2.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

EVAV vs. MULL — Risk / Return Rank

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

MULL

MULL Risk / Return Rank: 99
MULL Sharpe Ratio Rank: 100
MULL Sortino Ratio Rank: 98
MULL Omega Ratio Rank: 97
MULL Calmar Ratio Rank: 100
MULL Martin Ratio Rank: 100

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.

EVAV vs. MULL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) and GraniteShares 2x Long MU Daily ETF (MULL). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	EVAV	MULL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	46.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	7.45	—

Drawdowns

Drawdown Indicators

	EVAV	MULL	Difference
Max Drawdown Largest peak-to-trough decline	—	-72.29%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-53.09%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-20.62%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	15.79%	—

Volatility

Volatility by Period

	EVAV	MULL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	55.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	105.59%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	132.38%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	136.22%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	136.22%	—

EVAV vs. MULL - Expense Ratio Comparison

EVAV has a 0.98% expense ratio, which is lower than MULL's 1.50% expense ratio.

Dividends

EVAV vs. MULL - Dividend Comparison

EVAV's dividend yield for the trailing twelve months is around 0.81%, more than MULL's 0.04% yield.

Position	TTM	2025	2024	2023	2022
EVAV Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares	0.81%	0.97%	2.52%	2.34%	0.51%
MULL GraniteShares 2x Long MU Daily ETF	0.04%	0.39%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVAV and MULL in my portfolio?

EVAV and MULL have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVAV or MULL?

On fees, EVAV is cheaper at 0.98% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVAV or MULL?

EVAV is cheaper with a 0.98% expense ratio, compared with 1.50% for MULL.

Which ETF pays a higher dividend yield, EVAV or MULL?

EVAV has the higher dividend yield at 0.81%, compared with 0.04% for MULL.

What is the main difference between EVAV and MULL?

They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 0.98% for EVAV and 1.50% for MULL.