MULL vs. DOGG

Last updated Aug 6, 2026

MULL (GraniteShares 2x Long MU Daily ETF) and DOGG (FT Vest DJIA Dogs 10 Target Income ETF) are both exchange-traded funds - MULL is a Leveraged Equities fund actively managed by GraniteShares, while DOGG is a Derivative Income fund actively managed by FT Vest. Both are actively managed. Over the past year, MULL returned 2860.10% vs 22.61% for DOGG. Their -0.09 correlation means they have often moved in opposite directions in the past. MULL charges 1.50%/yr vs 0.75%/yr for DOGG.

Performance

MULL vs. DOGG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MU Daily ETF (MULL) and FT Vest DJIA Dogs 10 Target Income ETF (DOGG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MULL achieves a 438.52% return, which is significantly higher than DOGG's 11.92% return.

MULL

• 1D: 0.47%
• 1M: -26.43%
• 6M: 226.66%
• YTD: 438.52%
• 1Y: 2,860.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 491.36%

DOGG

• 1D: 0.60%
• 1M: 3.10%
• 6M: 2.09%
• YTD: 11.92%
• 1Y: 22.61%
• 3Y*: 12.53%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.44%

*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)
DOGG FT Vest DJIA Dogs 10 Target Income ETF	$946.83K	$808.54K	$736.30K
MULL GraniteShares 2x Long MU Daily ETF	$185.42M	$204.20M	$267.95M

MULL vs. DOGG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MULL GraniteShares 2x Long MU Daily ETF	438.52%	558.51%	-39.23%
DOGG FT Vest DJIA Dogs 10 Target Income ETF	11.92%	19.43%	-4.14%

Correlation

The correlation between MULL and DOGG is -0.20, 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.	-0.20
Correlation (All Time) Calculated using the full available price history since Nov 12, 2024	-0.09

The correlation between MULL and DOGG shifts across timeframes, from -0.20 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MULL vs. DOGG — Risk / Return Rank

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

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

DOGG

DOGG Risk / Return Rank: 70
DOGG Sharpe Ratio Rank: 78
DOGG Sortino Ratio Rank: 81
DOGG Omega Ratio Rank: 75
DOGG Calmar Ratio Rank: 69
DOGG Martin Ratio Rank: 45

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.

MULL vs. DOGG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MU Daily ETF (MULL) and FT Vest DJIA Dogs 10 Target Income ETF (DOGG). 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.

	MULL	DOGG	Difference
Sharpe ratio: Return per unit of total volatility	17.84	2.00	+15.83
Sortino ratio: Return per unit of downside risk	4.97	2.95	+2.02
Omega ratio: Gain probability vs. loss probability	1.62	1.35	+0.27
Calmar ratio: Return relative to maximum drawdown	42.55	2.74	+39.82
Martin ratio: Return relative to average drawdown	134.47	5.78	+128.69

MULL vs. DOGG - Sharpe Ratio Comparison

The current MULL Sharpe Ratio is 17.84, which is higher than the DOGG Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of MULL and DOGG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MULL vs. DOGG - Drawdown Comparison

The maximum MULL drawdown since its inception was -72.29%, which is greater than DOGG's maximum drawdown of -11.19%. Use the drawdown chart below to compare losses from any high point for MULL and DOGG.

Drawdown Indicators

	MULL	DOGG	Difference
Max Drawdown Largest peak-to-trough decline	-72.29%	-11.19%	-61.10%
Max Drawdown (1Y) Largest decline over 1 year	-68.16%	-8.29%	-59.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.19%	—
Current Drawdown Current decline from peak	-54.99%	-1.62%	-53.37%
Average Drawdown Average peak-to-trough decline	-22.10%	-3.26%	-18.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.53%	3.92%	+17.61%

Volatility

MULL vs. DOGG - Volatility Comparison

GraniteShares 2x Long MU Daily ETF (MULL) has a higher volatility of 62.34% compared to FT Vest DJIA Dogs 10 Target Income ETF (DOGG) at 4.29%. This indicates that MULL's price experiences larger fluctuations and is considered to be riskier than DOGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MULL	DOGG	Difference
Volatility (1M) Calculated over the trailing 1-month period	62.34%	4.29%	+58.05%
Volatility (6M) Calculated over the trailing 6-month period	134.77%	9.23%	+125.54%
Volatility (1Y) Calculated over the trailing 1-year period	162.60%	11.35%	+151.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	149.60%	13.05%	+136.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	149.60%	13.05%	+136.55%

MULL vs. DOGG - Expense Ratio Comparison

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

Dividends

MULL vs. DOGG - Dividend Comparison

MULL's dividend yield for the trailing twelve months is around 0.07%, less than DOGG's 8.56% yield.

Position	TTM	2025	2024	2023
DOGG FT Vest DJIA Dogs 10 Target Income ETF	8.56%	8.75%	9.92%	5.89%
MULL GraniteShares 2x Long MU Daily ETF	0.07%	0.39%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MULL and DOGG in my portfolio?

MULL and DOGG have a correlation of -0.20, 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 DOGG?

MULL has higher volatility (62.34%) compared to DOGG (4.29%). In terms of maximum drawdown, MULL dropped -72.29% vs DOGG's -11.19%.

Which ETF is better, MULL or DOGG?

On 1-year performance, MULL leads with 2860.10% vs 22.61% for DOGG. On fees, DOGG is cheaper at 0.75% per year. On volatility, DOGG has been the lower-risk option at 4.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MULL or DOGG?

Over the 1-year period, MULL has performed better with a 2860.10% return vs 22.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MULL or DOGG?

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

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

DOGG has the higher dividend yield at 8.56%, compared with 0.07% for MULL.

What is the main difference between MULL and DOGG?

MULL is categorized as Leveraged Equities, while DOGG is Derivative Income. They also come from different issuers: GraniteShares and FT Vest. Their fees differ too: 1.50% for MULL and 0.75% for DOGG.

Which has better risk-adjusted returns?

MULL currently has the higher Sharpe Ratio (17.84 vs 2.00), 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.