MULL vs. COIG

Last updated Jun 4, 2026

MULL (GraniteShares 2x Long MU Daily ETF) and COIG (Leverage Shares 2X Long COIN Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, MULL returned 6074.28% vs -79.30% for COIG. At a 0.35 correlation, their price movements are largely independent. MULL charges 1.50%/yr vs 0.75%/yr for COIG.

Performance

MULL vs. COIG - Performance Comparison

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

Returns By Period

In the year-to-date period, MULL achieves a 936.86% return, which is significantly higher than COIG's -61.85% return.

MULL

• 1D: 2.92%
• 1M: 216.81%
• YTD: 936.86%
• 6M: 1,369.93%
• 1Y: 6,074.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

COIG

• 1D: -11.21%
• 1M: -37.91%
• YTD: -61.85%
• 6M: -75.19%
• 1Y: -79.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MULL vs. COIG - Yearly Performance Comparison

	2026 (YTD)	2025
MULL GraniteShares 2x Long MU Daily ETF	936.86%	415.08%
COIG Leverage Shares 2X Long COIN Daily ETF	-61.85%	-9.46%

Correlation

The correlation between MULL and COIG is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (All Time) Calculated using the full available price history since Mar 17, 2025	0.35

Return for Risk

MULL vs. COIG — 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: 98
MULL Omega Ratio Rank: 97
MULL Calmar Ratio Rank: 100
MULL Martin Ratio Rank: 100

COIG

COIG Risk / Return Rank: 3
COIG Sharpe Ratio Rank: 4
COIG Sortino Ratio Rank: 4
COIG Omega Ratio Rank: 4
COIG Calmar Ratio Rank: 1
COIG Martin Ratio Rank: 3

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.

MULL vs. COIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MU Daily ETF (MULL) and Leverage Shares 2X Long COIN Daily ETF (COIG). 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.

	MULL	COIG	Difference
Sharpe ratio: Return per unit of total volatility	46.71	-0.57	+47.28
Sortino ratio: Return per unit of downside risk	7.02	-0.66	+7.68
Omega ratio: Gain probability vs. loss probability	1.89	0.93	+0.96
Calmar ratio: Return relative to maximum drawdown	116.34	-0.86	+117.20
Martin ratio: Return relative to average drawdown	390.40	-1.20	+391.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MULL vs. COIG - Sharpe Ratio Comparison

The current MULL Sharpe Ratio is 46.71, which is higher than the COIG Sharpe Ratio of -0.57. The chart below compares the historical Sharpe Ratios of MULL and COIG, 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

	MULL	COIG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	46.71	-0.57	+47.28
Sharpe Ratio (All Time) Calculated using the full available price history	7.45	-0.40	+7.85

Drawdowns

MULL vs. COIG - Drawdown Comparison

The maximum MULL drawdown since its inception was -72.29%, smaller than the maximum COIG drawdown of -92.06%. Use the drawdown chart below to compare losses from any high point for MULL and COIG.

Drawdown Indicators

	MULL	COIG	Difference
Max Drawdown Largest peak-to-trough decline	-72.29%	-92.06%	+19.77%
Max Drawdown (1Y) Largest decline over 1 year	-53.09%	-92.06%	+38.97%
Current Drawdown Current decline from peak	0.00%	-91.42%	+91.42%
Average Drawdown Average peak-to-trough decline	-20.62%	-51.70%	+31.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.79%	65.88%	-50.09%

Volatility

MULL vs. COIG - Volatility Comparison

GraniteShares 2x Long MU Daily ETF (MULL) has a higher volatility of 55.41% compared to Leverage Shares 2X Long COIN Daily ETF (COIG) at 37.85%. This indicates that MULL's price experiences larger fluctuations and is considered to be riskier than COIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MULL	COIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	55.41%	37.85%	+17.56%
Volatility (6M) Calculated over the trailing 6-month period	105.59%	100.21%	+5.38%
Volatility (1Y) Calculated over the trailing 1-year period	132.38%	139.35%	-6.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	136.22%	146.45%	-10.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	136.22%	146.45%	-10.23%

MULL vs. COIG - Expense Ratio Comparison

MULL has a 1.50% expense ratio, which is higher than COIG's 0.75% expense ratio.

Dividends

MULL vs. COIG - Dividend Comparison

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

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

Frequently Asked Questions

Can I hold both MULL and COIG in my portfolio?

MULL and COIG have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MULL or COIG?

MULL has higher volatility (55.41%) compared to COIG (37.85%). In terms of maximum drawdown, MULL dropped -72.29% vs COIG's -92.06%.

Which ETF is better, MULL or COIG?

On 1-year performance, MULL leads with 6074.28% vs -79.30% for COIG. On fees, COIG is cheaper at 0.75% per year. On volatility, COIG has been the lower-risk option at 37.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MULL or COIG?

Over the 1-year period, MULL has performed better with a 6074.28% return vs -79.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MULL or COIG?

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

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

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

What is the main difference between MULL and COIG?

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

Which has better risk-adjusted returns?

MULL currently has the higher Sharpe Ratio (46.71 vs -0.57), 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.