KLAG vs. MULL

Last updated Jun 5, 2026

KLAG (Leverage Shares 2X Long KLAC Daily ETF) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. KLAG is passively managed, while MULL is actively managed. A 0.56 correlation means they provide meaningful diversification when combined. KLAG charges 0.75%/yr vs 1.50%/yr for MULL.

Performance

KLAG vs. MULL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long KLAC Daily ETF (KLAG) 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, KLAG achieves a 156.16% return, which is significantly lower than MULL's 774.91% return.

KLAG

• 1D: 0.41%
• 1M: 47.07%
• YTD: 156.16%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MULL

• 1D: -15.62%
• 1M: 119.20%
• YTD: 774.91%
• 6M: 1,229.17%
• 1Y: 5,016.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KLAG vs. MULL - Yearly Performance Comparison

	2026 (YTD)	2025
KLAG Leverage Shares 2X Long KLAC Daily ETF	156.16%	-1.92%
MULL GraniteShares 2x Long MU Daily ETF	774.91%	29.59%

Correlation

The correlation between KLAG and MULL is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 19, 2025	0.56

Return for Risk

KLAG 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: 97
MULL Omega Ratio Rank: 96
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.

KLAG vs. MULL - Risk-Adjusted Trends Comparison

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

	KLAG	MULL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	38.21	—
Sharpe Ratio (All Time) Calculated using the full available price history	6.15	6.53	-0.37

Drawdowns

KLAG vs. MULL - Drawdown Comparison

The maximum KLAG drawdown since its inception was -42.37%, smaller than the maximum MULL drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for KLAG and MULL.

Drawdown Indicators

	KLAG	MULL	Difference
Max Drawdown Largest peak-to-trough decline	-42.37%	-72.29%	+29.92%
Max Drawdown (1Y) Largest decline over 1 year	—	-53.09%	—
Current Drawdown Current decline from peak	0.00%	-15.62%	+15.62%
Average Drawdown Average peak-to-trough decline	-15.46%	-20.61%	+5.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	15.82%	—

Volatility

Volatility by Period

	KLAG	MULL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	57.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	107.25%	—
Volatility (1Y) Calculated over the trailing 1-year period	108.73%	133.41%	-24.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	108.73%	136.72%	-27.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	108.73%	136.72%	-27.99%

KLAG vs. MULL - Expense Ratio Comparison

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

Dividends

KLAG vs. MULL - Dividend Comparison

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

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

Frequently Asked Questions

Can I hold both KLAG and MULL in my portfolio?

KLAG and MULL have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KLAG or MULL?

On fees, KLAG 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, KLAG or MULL?

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

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

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

What is the main difference between KLAG and MULL?

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