IREX vs. MULL
IREX (Tradr 2X Long IREN Daily ETF) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. Both are actively managed. Their 0.46 correlation means their historical movements had little consistent relationship. IREX charges 1.30%/yr vs 1.50%/yr for MULL.
Performance
IREX vs. MULL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IREX achieves a -59.26% return, which is significantly lower than MULL's 359.36% return.
IREX
- 1D
- -7.69%
- 1M
- -25.12%
- 6M
- -77.29%
- YTD
- -59.26%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
MULL
- 1D
- -11.97%
- 1M
- -36.10%
- 6M
- 129.44%
- YTD
- 359.36%
- 1Y
- 2,639.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 446.67%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $22.60M | $19.41M | $32.20M | |
| $191.48M | $219.09M | $265.13M |
IREX vs. MULL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IREX Tradr 2X Long IREN Daily ETF | -59.26% | -61.06% |
MULL GraniteShares 2x Long MU Daily ETF | 359.36% | 82.98% |
Correlation
The correlation between IREX and MULL is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 23, 2025 | 0.46 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IREX vs. MULL — Risk / Return Rank
IREX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MULL
IREX vs. MULL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long IREN Daily ETF (IREX) 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.
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.
| IREX | MULL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.59 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 35.94 | — |
| Martin ratioReturn relative to average drawdown | — | 118.66 | — |
Loading charts...
Drawdowns
IREX vs. MULL - Drawdown Comparison
The maximum IREX drawdown since its inception was -94.59%, which is greater than MULL's maximum drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for IREX and MULL.
Loading charts...
Drawdown Indicators
| IREX | MULL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.59% | -72.29% | -22.30% |
Max Drawdown (1Y)Largest decline over 1 year | — | -68.16% | — |
Current DrawdownCurrent decline from peak | -91.95% | -61.61% | -30.34% |
Average DrawdownAverage peak-to-trough decline | -72.44% | -21.86% | -50.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 20.61% | — |
Volatility
IREX vs. MULL - Volatility Comparison
Loading charts...
Volatility by Period
| IREX | MULL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 61.67% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 135.25% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 226.65% | 162.81% | +63.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 226.65% | 149.74% | +76.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 226.65% | 149.74% | +76.91% |
IREX vs. MULL - Expense Ratio Comparison
IREX has a 1.30% expense ratio, which is lower than MULL's 1.50% expense ratio.
Dividends
IREX vs. MULL - Dividend Comparison
IREX has not paid dividends to shareholders, while MULL's dividend yield for the trailing twelve months is around 0.08%.
| Position | TTM | 2025 |
|---|---|---|
IREX Tradr 2X Long IREN Daily ETF | 0.00% | 0.00% |
MULL GraniteShares 2x Long MU Daily ETF | 0.08% | 0.39% |
Frequently Asked Questions
IREX and MULL have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IREX is cheaper at 1.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IREX is cheaper with a 1.30% expense ratio, compared with 1.50% for MULL.
MULL has the higher dividend yield at 0.08%, compared with 0.00% for IREX.
They also come from different issuers: Tradr and GraniteShares. Their fees differ too: 1.30% for IREX and 1.50% for MULL.
Find the right allocation for IREX and MULL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer