HUTG vs. MULL

Last updated Jun 4, 2026

HUTG (Leverage Shares 2X Long HUT Daily ETF) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. HUTG is passively managed, while MULL is actively managed. At a 0.41 correlation, their price movements are largely independent. HUTG charges 0.75%/yr vs 1.50%/yr for MULL.

Performance

HUTG vs. MULL - Performance Comparison

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

Returns By Period

HUTG

• 1D: -2.52%
• 1M: 150.46%
• 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)

HUTG vs. MULL - Yearly Performance Comparison

	2026 (YTD)
HUTG Leverage Shares 2X Long HUT Daily ETF	180.22%
MULL GraniteShares 2x Long MU Daily ETF	658.28%

Correlation

The correlation between HUTG and MULL is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 14, 2026	0.41

Return for Risk

HUTG 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.

HUTG vs. MULL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long HUT Daily ETF (HUTG) 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

	HUTG	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	6.18	7.45	-1.28

Drawdowns

HUTG vs. MULL - Drawdown Comparison

The maximum HUTG drawdown since its inception was -66.30%, smaller than the maximum MULL drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for HUTG and MULL.

Drawdown Indicators

	HUTG	MULL	Difference
Max Drawdown Largest peak-to-trough decline	-66.30%	-72.29%	+5.99%
Max Drawdown (1Y) Largest decline over 1 year	—	-53.09%	—
Current Drawdown Current decline from peak	-2.52%	0.00%	-2.52%
Average Drawdown Average peak-to-trough decline	-26.80%	-20.62%	-6.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	15.79%	—

Volatility

Volatility by Period

	HUTG	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	220.40%	132.38%	+88.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	220.40%	136.22%	+84.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	220.40%	136.22%	+84.18%

HUTG vs. MULL - Expense Ratio Comparison

HUTG has a 0.75% expense ratio, which is lower than MULL's 1.50% expense ratio.

Dividends

HUTG vs. MULL - Dividend Comparison

HUTG has not paid dividends to shareholders, while MULL's dividend yield for the trailing twelve months is around 0.04%.

Position	TTM	2025
HUTG Leverage Shares 2X Long HUT Daily ETF	0.00%	0.00%
MULL GraniteShares 2x Long MU Daily ETF	0.04%	0.39%

Frequently Asked Questions

Can I hold both HUTG and MULL in my portfolio?

HUTG and MULL have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HUTG or MULL?

On fees, HUTG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HUTG or MULL?

HUTG is cheaper with a 0.75% expense ratio, compared with 1.50% for MULL.

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

MULL has the higher dividend yield at 0.04%, compared with 0.00% for HUTG.

What is the main difference between HUTG and MULL?

They also come from different issuers: Leverage Shares and GraniteShares. Their fees differ too: 0.75% for HUTG and 1.50% for MULL.