MULL vs. HDV
MULL (GraniteShares 2x Long MU Daily ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - MULL is a Leveraged Equities fund actively managed by GraniteShares, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. MULL is actively managed, while HDV is passively managed. Over the past year, MULL returned 2677.24% vs 25.24% for HDV. Their -0.09 correlation means they have often moved in opposite directions in the past. MULL charges 1.50%/yr vs 0.08%/yr for HDV.
Performance
MULL vs. HDV - Performance Comparison
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Returns By Period
In the year-to-date period, MULL achieves a 365.77% return, which is significantly higher than HDV's 19.66% return.
MULL
- 1D
- 1.40%
- 1M
- -35.21%
- 6M
- 109.23%
- YTD
- 365.77%
- 1Y
- 2,677.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 446.64%
HDV
- 1D
- -0.31%
- 1M
- 2.46%
- 6M
- 10.00%
- YTD
- 19.66%
- 1Y
- 25.24%
- 3Y*
- 15.80%
- 5Y*
- 12.13%
- 10Y*
- 9.57%
- ALL TIME*
- 10.80%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $168.30M | $156.51M | $108.57M | |
| $193.24M | $208.11M | $267.73M |
MULL vs. HDV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MULL GraniteShares 2x Long MU Daily ETF | 365.77% | 558.51% | -39.23% |
HDV iShares Core High Dividend ETF | 19.66% | 11.90% | -4.55% |
Correlation
The correlation between MULL and HDV is -0.23, 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. | -0.23 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2024 | -0.09 |
The correlation between MULL and HDV shifts across timeframes, from -0.23 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
MULL vs. HDV - Sectors Allocation Comparison
Sectors
MULL
HDV
Technology
Basic Materials
-
Communication Services
-
Consumer Cyclical
-
Consumer Defensive
-
Energy
-
Financial Services
-
Healthcare
-
Industrials
-
Real Estate
-
-
Utilities
-
Technology
MULL
HDV
Basic Materials
MULL
-
HDV
Communication Services
MULL
-
HDV
Consumer Cyclical
MULL
-
HDV
Consumer Defensive
MULL
-
HDV
Energy
MULL
-
HDV
Financial Services
MULL
-
HDV
Healthcare
MULL
-
HDV
Industrials
MULL
-
HDV
Real Estate
MULL
-
HDV
-
Utilities
MULL
-
HDV
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Return for Risk
MULL vs. HDV — Risk / Return Rank
MULL
HDV
MULL vs. HDV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MU Daily ETF (MULL) and iShares Core High Dividend ETF (HDV). 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 | HDV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +14.40 | ||
| Sortino ratioReturn per unit of downside risk | +1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.41 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 39.82 | 4.90 | +34.93 |
| Martin ratioReturn relative to average drawdown | 129.25 | 13.39 | +115.86 |
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Drawdowns
MULL vs. HDV - Drawdown Comparison
The maximum MULL drawdown since its inception was -72.29%, which is greater than HDV's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for MULL and HDV.
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Drawdown Indicators
| MULL | HDV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.29% | -37.04% | -35.25% |
Max Drawdown (1Y)Largest decline over 1 year | -68.16% | -5.18% | -62.98% |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.49% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.42% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.04% | — |
Current DrawdownCurrent decline from peak | -61.07% | -1.72% | -59.35% |
Average DrawdownAverage peak-to-trough decline | -21.95% | -3.06% | -18.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.96% | 1.89% | +19.07% |
Volatility
MULL vs. HDV - Volatility Comparison
GraniteShares 2x Long MU Daily ETF (MULL) has a higher volatility of 60.92% compared to iShares Core High Dividend ETF (HDV) at 4.52%. This indicates that MULL's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MULL | HDV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 60.92% | 4.52% | +56.40% |
Volatility (6M)Calculated over the trailing 6-month period | 134.81% | 8.66% | +126.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 162.42% | 10.83% | +151.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 149.56% | 12.95% | +136.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 149.56% | 15.79% | +133.77% |
MULL vs. HDV - Expense Ratio Comparison
MULL has a 1.50% expense ratio, which is higher than HDV's 0.08% expense ratio.
Dividends
MULL vs. HDV - Dividend Comparison
MULL's dividend yield for the trailing twelve months is around 0.08%, less than HDV's 3.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDV iShares Core High Dividend ETF | 3.08% | 3.22% | 3.67% | 3.82% | 3.56% | 3.47% | 4.07% | 3.27% | 3.67% | 3.27% | 3.28% | 3.92% |
MULL GraniteShares 2x Long MU Daily ETF | 0.08% | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MULL and HDV have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MULL has higher volatility (60.92%) compared to HDV (4.52%). In terms of maximum drawdown, MULL dropped -72.29% vs HDV's -37.04%.
On 1-year performance, MULL leads with 2677.24% vs 25.24% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 4.52%. 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 2677.24% return vs 25.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HDV is cheaper with a 0.08% expense ratio, compared with 1.50% for MULL.
HDV has the higher dividend yield at 3.08%, compared with 0.08% for MULL.
MULL is categorized as Leveraged Equities, while HDV is Dividend. They also come from different issuers: GraniteShares and iShares. Their fees differ too: 1.50% for MULL and 0.08% for HDV.
MULL currently has the higher Sharpe Ratio (16.75 vs 2.34), 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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