KTUP vs. MULL

Last updated Aug 1, 2026

KTUP (T-Rex 2X Long KTOS Daily Target ETF) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. Both are actively managed. Their 0.18 correlation means their historical movements had little consistent relationship. Both charge a 1.50% expense ratio.

Performance

KTUP vs. MULL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long KTOS Daily Target ETF (KTUP) 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, KTUP achieves a -77.12% return, which is significantly lower than MULL's 365.77% return.

KTUP

• 1D: 2.12%
• 1M: -32.87%
• 6M: -86.56%
• YTD: -77.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

MULL

• 1D: 1.40%
• 1M: -35.21%
• 6M: 109.23%
• YTD: 365.77%
• 1Y: 2,677.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 446.64%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KTUP T-Rex 2X Long KTOS Daily Target ETF	$739.10K	$1.10M	$2.70M
MULL GraniteShares 2x Long MU Daily ETF	$193.24M	$208.11M	$267.73M

KTUP vs. MULL - Yearly Performance Comparison

	2026 (YTD)	2025
KTUP T-Rex 2X Long KTOS Daily Target ETF	-77.12%	-8.74%
MULL GraniteShares 2x Long MU Daily ETF	365.77%	175.34%

Correlation

The correlation between KTUP and MULL is 0.18, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 16, 2025	0.18

Return for Risk

KTUP vs. MULL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KTUP

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: 96
MULL Calmar Ratio Rank: 99
MULL Martin Ratio Rank: 99

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KTUP vs. MULL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long KTOS Daily Target ETF (KTUP) 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.

	KTUP	MULL	Difference
Sharpe ratio: Return per unit of total volatility	—	16.75	—
Sortino ratio: Return per unit of downside risk	—	4.89	—
Omega ratio: Gain probability vs. loss probability	—	1.61	—
Calmar ratio: Return relative to maximum drawdown	—	39.82	—
Martin ratio: Return relative to average drawdown	—	129.25	—

Drawdowns

KTUP vs. MULL - Drawdown Comparison

The maximum KTUP drawdown since its inception was -92.77%, which is greater than MULL's maximum drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for KTUP and MULL.

Drawdown Indicators

	KTUP	MULL	Difference
Max Drawdown Largest peak-to-trough decline	-92.77%	-72.29%	-20.48%
Max Drawdown (1Y) Largest decline over 1 year	—	-68.16%	—
Current Drawdown Current decline from peak	-91.90%	-61.07%	-30.83%
Average Drawdown Average peak-to-trough decline	-57.80%	-21.95%	-35.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	20.96%	—

Volatility

Volatility by Period

	KTUP	MULL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	60.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	134.81%	—
Volatility (1Y) Calculated over the trailing 1-year period	150.73%	162.42%	-11.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	150.73%	149.56%	+1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	150.73%	149.56%	+1.17%

KTUP vs. MULL - Expense Ratio Comparison

Both KTUP and MULL have an expense ratio of 1.50%.

Dividends

KTUP vs. MULL - Dividend Comparison

KTUP's dividend yield for the trailing twelve months is around 9.30%, more than MULL's 0.08% yield.

Position	TTM	2025
KTUP T-Rex 2X Long KTOS Daily Target ETF	9.30%	2.13%
MULL GraniteShares 2x Long MU Daily ETF	0.08%	0.39%

Frequently Asked Questions

Can I hold both KTUP and MULL in my portfolio?

KTUP and MULL have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KTUP or MULL?

Both ETFs have the same 1.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KTUP or MULL?

KTUP and MULL have the same expense ratio: 1.50% per year.

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

KTUP has the higher dividend yield at 9.30%, compared with 0.08% for MULL.

What is the main difference between KTUP and MULL?

They also come from different issuers: Tuttle and GraniteShares.