MLPR vs. MULL
MLPR (ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. MLPR is passively managed, while MULL is actively managed. Over the past year, MLPR returned 39.67% vs 2639.01% for MULL. Their 0.07 correlation means their historical movements had little consistent relationship. MLPR charges 0.95%/yr vs 1.50%/yr for MULL.
Performance
MLPR vs. MULL - Performance Comparison
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Returns By Period
In the year-to-date period, MLPR achieves a 39.50% return, which is significantly lower than MULL's 359.36% return.
MLPR
- 1D
- 1.62%
- 1M
- 11.14%
- 6M
- 25.11%
- YTD
- 39.50%
- 1Y
- 39.67%
- 3Y*
- 31.28%
- 5Y*
- 31.23%
- 10Y*
- —
- ALL TIME*
- 32.46%
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) |
|---|---|---|---|
| $34.92K | $44.03K | $37.73K | |
| $191.48M | $219.09M | $265.13M |
MLPR vs. MULL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 39.50% | 9.83% | 2.78% |
MULL GraniteShares 2x Long MU Daily ETF | 359.36% | 558.51% | -39.23% |
Correlation
The correlation between MLPR and MULL is -0.11, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.11 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2024 | 0.07 |
The correlation between MLPR and MULL shifts across timeframes, from -0.11 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MLPR vs. MULL — Risk / Return Rank
MLPR
MULL
MLPR vs. MULL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) 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.
| MLPR | MULL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -13.45 | ||
| Sortino ratioReturn per unit of downside risk | -2.60 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.59 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 35.94 | -33.39 |
| Martin ratioReturn relative to average drawdown | 7.25 | 118.66 | -111.41 |
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Drawdowns
MLPR vs. MULL - Drawdown Comparison
The maximum MLPR drawdown since its inception was -48.98%, smaller than the maximum MULL drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for MLPR and MULL.
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Drawdown Indicators
| MLPR | MULL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.98% | -72.29% | +23.31% |
Max Drawdown (1Y)Largest decline over 1 year | -14.31% | -68.16% | +53.85% |
Max Drawdown (3Y)Largest decline over 3 years | -24.45% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -28.66% | — | — |
Current DrawdownCurrent decline from peak | -0.13% | -61.61% | +61.48% |
Average DrawdownAverage peak-to-trough decline | -8.89% | -21.86% | +12.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.35% | 20.61% | -15.26% |
Volatility
MLPR vs. MULL - Volatility Comparison
The current volatility for ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) is 8.44%, while GraniteShares 2x Long MU Daily ETF (MULL) has a volatility of 61.67%. This indicates that MLPR experiences smaller price fluctuations and is considered to be less risky than MULL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPR | MULL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.44% | 61.67% | -53.23% |
Volatility (6M)Calculated over the trailing 6-month period | 17.18% | 135.25% | -118.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.38% | 162.81% | -140.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.11% | 149.74% | -120.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.66% | 149.74% | -116.08% |
MLPR vs. MULL - Expense Ratio Comparison
MLPR has a 0.95% expense ratio, which is lower than MULL's 1.50% expense ratio.
Dividends
MLPR vs. MULL - Dividend Comparison
MLPR's dividend yield for the trailing twelve months is around 8.83%, more than MULL's 0.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 8.83% | 10.85% | 9.57% | 10.08% | 7.49% | 10.69% | 4.21% |
MULL GraniteShares 2x Long MU Daily ETF | 0.08% | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MLPR and MULL have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MULL has higher volatility (61.67%) compared to MLPR (8.44%). In terms of maximum drawdown, MLPR dropped -48.98% vs MULL's -72.29%.
On 1-year performance, MULL leads with 2639.01% vs 39.67% for MLPR. On fees, MLPR is cheaper at 0.95% per year. On volatility, MLPR has been the lower-risk option at 8.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MULL has performed better with a 2639.01% return vs 39.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MLPR is cheaper with a 0.95% expense ratio, compared with 1.50% for MULL.
MLPR has the higher dividend yield at 8.83%, compared with 0.08% for MULL.
They also come from different issuers: UBS and GraniteShares. Their fees differ too: 0.95% for MLPR and 1.50% for MULL.
MULL currently has the higher Sharpe Ratio (15.08 vs 1.63), 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.
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