MRAL vs. LULG

Last updated Jun 4, 2026

MRAL (GraniteShares 2x Long MARA Daily ETF) and LULG (Leverage Shares 2X Long LULU Daily ETF) are both Leveraged Equities funds. MRAL is passively managed, while LULG is actively managed. At a 0.09 correlation, their price movements are largely independent. MRAL charges 1.50%/yr vs 0.75%/yr for LULG.

Performance

MRAL vs. LULG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MARA Daily ETF (MRAL) and Leverage Shares 2X Long LULU Daily ETF (LULG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MRAL achieves a 65.74% return, which is significantly higher than LULG's -68.07% return.

MRAL

• 1D: -4.00%
• 1M: 33.63%
• YTD: 65.74%
• 6M: -16.49%
• 1Y: -60.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LULG

• 1D: -0.95%
• 1M: -6.81%
• YTD: -68.07%
• 6M: -59.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MRAL vs. LULG - Yearly Performance Comparison

	2026 (YTD)	2025
MRAL GraniteShares 2x Long MARA Daily ETF	65.74%	-75.36%
LULG Leverage Shares 2X Long LULU Daily ETF	-68.07%	47.31%

Correlation

The correlation between MRAL and LULG is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 6, 2025	0.09

Return for Risk

MRAL vs. LULG — Risk / Return Rank

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

MRAL

MRAL Risk / Return Rank: 7
MRAL Sharpe Ratio Rank: 5
MRAL Sortino Ratio Rank: 10
MRAL Omega Ratio Rank: 10
MRAL Calmar Ratio Rank: 4
MRAL Martin Ratio Rank: 5

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.

MRAL vs. LULG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MARA Daily ETF (MRAL) and Leverage Shares 2X Long LULU Daily ETF (LULG). 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.

	MRAL	LULG	Difference
Sharpe ratio: Return per unit of total volatility	-0.40	—	—
Sortino ratio: Return per unit of downside risk	0.22	—	—
Omega ratio: Gain probability vs. loss probability	1.03	—	—
Calmar ratio: Return relative to maximum drawdown	-0.65	—	—
Martin ratio: Return relative to average drawdown	-0.92	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MRAL	LULG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.40	-0.86	+0.46

Drawdowns

MRAL vs. LULG - Drawdown Comparison

The maximum MRAL drawdown since its inception was -93.46%, which is greater than LULG's maximum drawdown of -73.18%. Use the drawdown chart below to compare losses from any high point for MRAL and LULG.

Drawdown Indicators

	MRAL	LULG	Difference
Max Drawdown Largest peak-to-trough decline	-93.46%	-73.18%	-20.28%
Max Drawdown (1Y) Largest decline over 1 year	-93.46%	—	—
Current Drawdown Current decline from peak	-78.17%	-70.43%	-7.74%
Average Drawdown Average peak-to-trough decline	-56.03%	-33.45%	-22.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	66.02%	—	—

Volatility

Volatility by Period

	MRAL	LULG	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.29%	—	—
Volatility (6M) Calculated over the trailing 6-month period	115.01%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	153.49%	85.71%	+67.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	164.22%	85.71%	+78.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	164.22%	85.71%	+78.51%

MRAL vs. LULG - Expense Ratio Comparison

MRAL has a 1.50% expense ratio, which is higher than LULG's 0.75% expense ratio.

Dividends

MRAL vs. LULG - Dividend Comparison

Neither MRAL nor LULG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MRAL and LULG in my portfolio?

MRAL and LULG have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MRAL or LULG?

On fees, LULG 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, MRAL or LULG?

LULG is cheaper with a 0.75% expense ratio, compared with 1.50% for MRAL.

Which ETF pays a higher dividend yield, MRAL or LULG?

MRAL and LULG have nearly identical dividend yields, around 0.00%.

What is the main difference between MRAL and LULG?

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