KJD vs. MULL

Last updated Jul 17, 2026

KJD (KraneShares 2X Long JD Daily ETF) and MULL (GraniteShares 2x Long MU Daily ETF) are both exchange-traded funds - KJD is a China Equities fund actively managed by KraneShares, while MULL is a Leveraged Equities fund actively managed by GraniteShares. Both are actively managed. At a 0.15 correlation, their price movements are largely independent. KJD charges 1.26%/yr vs 1.50%/yr for MULL.

Performance

KJD vs. MULL - Performance Comparison

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

Returns By Period

In the year-to-date period, KJD achieves a 1.45% return, which is significantly lower than MULL's 436.29% return.

KJD

• 1D: 2.57%
• 1M: 7.71%
• 6M: -2.89%
• YTD: 1.45%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MULL

• 1D: -11.30%
• 1M: -37.61%
• 6M: 295.95%
• YTD: 436.29%
• 1Y: 2,454.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KJD vs. MULL - Yearly Performance Comparison

	2026 (YTD)	2025
KJD KraneShares 2X Long JD Daily ETF	1.45%	-28.21%
MULL GraniteShares 2x Long MU Daily ETF	436.29%	104.26%

Correlation

The correlation between KJD and MULL is 0.15, 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 Oct 15, 2025	0.15

Return for Risk

KJD vs. MULL — Risk / Return Rank

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

KJD

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

MULL

MULL Risk / Return Rank: 98
MULL Sharpe Ratio Rank: 100
MULL Sortino Ratio Rank: 97
MULL Omega Ratio Rank: 95
MULL Calmar Ratio Rank: 99
MULL Martin Ratio Rank: 99

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.

KJD vs. MULL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares 2X Long JD Daily ETF (KJD) 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.

	KJD	MULL	Difference
Sharpe ratio: Return per unit of total volatility	—	16.22	—
Sortino ratio: Return per unit of downside risk	—	4.90	—
Omega ratio: Gain probability vs. loss probability	—	1.62	—
Calmar ratio: Return relative to maximum drawdown	—	45.09	—
Martin ratio: Return relative to average drawdown	—	142.83	—

Drawdowns

KJD vs. MULL - Drawdown Comparison

The maximum KJD drawdown since its inception was -50.81%, smaller than the maximum MULL drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for KJD and MULL.

Drawdown Indicators

	KJD	MULL	Difference
Max Drawdown Largest peak-to-trough decline	-50.81%	-72.29%	+21.48%
Max Drawdown (1Y) Largest decline over 1 year	—	-55.18%	—
Current Drawdown Current decline from peak	-32.25%	-55.18%	+22.93%
Average Drawdown Average peak-to-trough decline	-30.34%	-21.04%	-9.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	17.49%	—

Volatility

Volatility by Period

	KJD	MULL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	64.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	126.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	61.33%	153.61%	-92.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.33%	145.38%	-84.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.33%	145.38%	-84.05%

KJD vs. MULL - Expense Ratio Comparison

KJD has a 1.26% expense ratio, which is lower than MULL's 1.50% expense ratio.

Dividends

KJD vs. MULL - Dividend Comparison

KJD has not paid dividends to shareholders, while MULL's dividend yield for the trailing twelve months is around 0.07%.

Position	TTM	2025
KJD KraneShares 2X Long JD Daily ETF	0.00%	0.00%
MULL GraniteShares 2x Long MU Daily ETF	0.07%	0.39%

Frequently Asked Questions

Can I hold both KJD and MULL in my portfolio?

KJD and MULL have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KJD or MULL?

On fees, KJD is cheaper at 1.26% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KJD or MULL?

KJD is cheaper with a 1.26% expense ratio, compared with 1.50% for MULL.

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

MULL has the higher dividend yield at 0.07%, compared with 0.00% for KJD.

What is the main difference between KJD and MULL?

KJD is categorized as China Equities, while MULL is Leveraged Equities. They also come from different issuers: KraneShares and GraniteShares. Their fees differ too: 1.26% for KJD and 1.50% for MULL.