KORU vs. MULL

Last updated Jun 5, 2026

KORU (Direxion Daily South Korea Bull 3X Shares) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. KORU is passively managed, while MULL is actively managed. Over the past year, KORU returned 1709.41% vs 5016.23% for MULL. A 0.60 correlation means they provide meaningful diversification when combined. KORU charges 1.29%/yr vs 1.50%/yr for MULL.

Performance

KORU vs. MULL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily South Korea Bull 3X Shares (KORU) 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, KORU achieves a 478.17% return, which is significantly lower than MULL's 774.91% return.

KORU

• 1D: -12.29%
• 1M: 43.43%
• YTD: 478.17%
• 6M: 617.53%
• 1Y: 1,709.41%
• 3Y*: 122.40%
• 5Y*: 20.22%
• 10Y*: 17.48%

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)

KORU vs. MULL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KORU Direxion Daily South Korea Bull 3X Shares	478.17%	432.73%	-25.29%
MULL GraniteShares 2x Long MU Daily ETF	774.91%	558.51%	-40.10%

Correlation

The correlation between KORU and MULL is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (All Time) Calculated using the full available price history since Nov 13, 2024	0.60

The correlation between KORU and MULL has been stable across timeframes, ranging from 0.60 to 0.63 - a consistent structural relationship.

KORU vs. MULL - Sectors Allocation Comparison

Sectors	KORU	MULL
Technology	52.3%	66.7%
Industrials	20.4%	-
Financial Services	16.7%	-
Consumer Cyclical	5.8%	-
Healthcare	3.5%	-
Communication Services	2.9%	-
Basic Materials	2.0%	-
Consumer Defensive	1.8%	-
Energy	1.4%	-
Utilities	0.4%	-
Real Estate	-	-

Return for Risk

KORU vs. MULL — Risk / Return Rank

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

KORU

KORU Risk / Return Rank: 97
KORU Sharpe Ratio Rank: 100
KORU Sortino Ratio Rank: 94
KORU Omega Ratio Rank: 94
KORU Calmar Ratio Rank: 99
KORU Martin Ratio Rank: 99

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.

KORU vs. MULL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily South Korea Bull 3X Shares (KORU) 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.

	KORU	MULL	Difference
Sharpe ratio: Return per unit of total volatility	13.88	38.21	-24.32
Sortino ratio: Return per unit of downside risk	4.85	6.62	-1.77
Omega ratio: Gain probability vs. loss probability	1.67	1.83	-0.17
Calmar ratio: Return relative to maximum drawdown	28.19	96.00	-67.82
Martin ratio: Return relative to average drawdown	89.21	321.55	-232.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KORU vs. MULL - Sharpe Ratio Comparison

The current KORU Sharpe Ratio is 13.88, which is lower than the MULL Sharpe Ratio of 38.21. The chart below compares the historical Sharpe Ratios of KORU and MULL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KORU	MULL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	13.88	38.21	-24.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	6.53	-6.42

Drawdowns

KORU vs. MULL - Drawdown Comparison

The maximum KORU drawdown since its inception was -95.79%, which is greater than MULL's maximum drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for KORU and MULL.

Drawdown Indicators

	KORU	MULL	Difference
Max Drawdown Largest peak-to-trough decline	-95.79%	-72.29%	-23.50%
Max Drawdown (1Y) Largest decline over 1 year	-61.39%	-53.09%	-8.30%
Max Drawdown (3Y) Largest decline over 3 years	-73.71%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-93.35%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-95.79%	—	—
Current Drawdown Current decline from peak	-17.01%	-15.62%	-1.39%
Average Drawdown Average peak-to-trough decline	-57.52%	-20.61%	-36.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.36%	15.82%	+3.54%

Volatility

KORU vs. MULL - Volatility Comparison

Direxion Daily South Korea Bull 3X Shares (KORU) has a higher volatility of 60.60% compared to GraniteShares 2x Long MU Daily ETF (MULL) at 57.59%. This indicates that KORU's price experiences larger fluctuations and is considered to be riskier than MULL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KORU	MULL	Difference
Volatility (1M) Calculated over the trailing 1-month period	60.60%	57.59%	+3.01%
Volatility (6M) Calculated over the trailing 6-month period	111.66%	107.25%	+4.41%
Volatility (1Y) Calculated over the trailing 1-year period	124.91%	133.41%	-8.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	85.28%	136.72%	-51.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.99%	136.72%	-56.73%

KORU vs. MULL - Expense Ratio Comparison

KORU has a 1.29% expense ratio, which is lower than MULL's 1.50% expense ratio.

Dividends

KORU vs. MULL - Dividend Comparison

KORU's dividend yield for the trailing twelve months is around 0.16%, more than MULL's 0.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
KORU Direxion Daily South Korea Bull 3X Shares	0.16%	0.89%	4.10%	2.55%	0.48%	0.76%	0.01%	0.93%	1.40%	3.59%
MULL GraniteShares 2x Long MU Daily ETF	0.04%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KORU and MULL in my portfolio?

KORU and MULL have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KORU or MULL?

KORU has higher volatility (60.60%) compared to MULL (57.59%). In terms of maximum drawdown, KORU dropped -95.79% vs MULL's -72.29%.

Which ETF is better, KORU or MULL?

On 1-year performance, MULL leads with 5016.23% vs 1709.41% for KORU. On fees, KORU is cheaper at 1.29% per year. On volatility, MULL has been the lower-risk option at 57.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KORU or MULL?

Over the 1-year period, MULL has performed better with a 5016.23% return vs 1709.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KORU or MULL?

KORU is cheaper with a 1.29% expense ratio, compared with 1.50% for MULL.

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

KORU has the higher dividend yield at 0.16%, compared with 0.04% for MULL.

What is the main difference between KORU and MULL?

They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.29% for KORU and 1.50% for MULL.

Which has better risk-adjusted returns?

MULL currently has the higher Sharpe Ratio (38.21 vs 13.88), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.