MULL vs. INTW

Last updated Jun 24, 2026

MULL (GraniteShares 2x Long MU Daily ETF) and INTW (GraniteShares 2x Long INTC Daily ETF) are both Leveraged Equities funds from GraniteShares. Both are actively managed. Over the past year, MULL returned 3622.12% vs 1964.55% for INTW. At a 0.48 correlation, their price movements are largely independent. Both charge a 1.50% expense ratio.

Performance

MULL vs. INTW - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with MULL having a 780.13% return and INTW slightly lower at 750.22%.

MULL

• 1D: -26.45%
• 1M: 69.00%
• YTD: 780.13%
• 6M: 832.94%
• 1Y: 3,622.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

INTW

• 1D: -12.49%
• 1M: 12.21%
• YTD: 750.22%
• 6M: 775.58%
• 1Y: 1,964.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MULL vs. INTW - Yearly Performance Comparison

	2026 (YTD)	2025
MULL GraniteShares 2x Long MU Daily ETF	780.13%	491.57%
INTW GraniteShares 2x Long INTC Daily ETF	750.22%	60.89%

Correlation

The correlation between MULL and INTW is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.48

MULL vs. INTW - Sectors Allocation Comparison

Sectors	MULL	INTW
Technology	66.7%	66.7%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

MULL vs. INTW — Risk / Return Rank

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

MULL

MULL Risk / Return Rank: 98
MULL Sharpe Ratio Rank: 100
MULL Sortino Ratio Rank: 96
MULL Omega Ratio Rank: 95
MULL Calmar Ratio Rank: 100
MULL Martin Ratio Rank: 99

INTW

INTW Risk / Return Rank: 98
INTW Sharpe Ratio Rank: 100
INTW Sortino Ratio Rank: 96
INTW Omega Ratio Rank: 94
INTW Calmar Ratio Rank: 99
INTW Martin Ratio Rank: 99

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. INTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MU Daily ETF (MULL) and GraniteShares 2x Long INTC Daily ETF (INTW). 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	INTW	Difference
Sharpe ratio: Return per unit of total volatility	25.24	13.25	+11.98
Sortino ratio: Return per unit of downside risk	5.61	5.13	+0.48
Omega ratio: Gain probability vs. loss probability	1.71	1.65	+0.06
Calmar ratio: Return relative to maximum drawdown	69.24	40.32	+28.92
Martin ratio: Return relative to average drawdown	221.31	91.49	+129.82

MULL vs. INTW - Sharpe Ratio Comparison

The current MULL Sharpe Ratio is 25.24, which is higher than the INTW Sharpe Ratio of 13.25. The chart below compares the historical Sharpe Ratios of MULL and INTW, 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. INTW - Drawdown Comparison

The maximum MULL drawdown since its inception was -72.29%, which is greater than INTW's maximum drawdown of -60.58%. Use the drawdown chart below to compare losses from any high point for MULL and INTW.

Drawdown Indicators

	MULL	INTW	Difference
Max Drawdown Largest peak-to-trough decline	-72.29%	-60.58%	-11.71%
Max Drawdown (1Y) Largest decline over 1 year	-53.09%	-49.34%	-3.75%
Current Drawdown Current decline from peak	-26.45%	-12.49%	-13.96%
Average Drawdown Average peak-to-trough decline	-20.52%	-29.66%	+9.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.58%	21.70%	-5.12%

Volatility

MULL vs. INTW - Volatility Comparison

GraniteShares 2x Long MU Daily ETF (MULL) has a higher volatility of 74.91% compared to GraniteShares 2x Long INTC Daily ETF (INTW) at 55.81%. This indicates that MULL's price experiences larger fluctuations and is considered to be riskier than INTW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MULL	INTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	74.91%	55.81%	+19.10%
Volatility (6M) Calculated over the trailing 6-month period	119.83%	119.10%	+0.73%
Volatility (1Y) Calculated over the trailing 1-year period	145.72%	150.14%	-4.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	142.49%	148.88%	-6.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	142.49%	148.88%	-6.39%

MULL vs. INTW - Expense Ratio Comparison

Both MULL and INTW have an expense ratio of 1.50%.

Dividends

MULL vs. INTW - Dividend Comparison

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

Position	TTM	2025
INTW GraniteShares 2x Long INTC 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 INTW in my portfolio?

MULL and INTW have a correlation of 0.46, 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 INTW?

MULL has higher volatility (74.91%) compared to INTW (55.81%). In terms of maximum drawdown, MULL dropped -72.29% vs INTW's -60.58%.

Which ETF is better, MULL or INTW?

On 1-year performance, MULL leads with 3622.12% vs 1964.55% for INTW. Both ETFs have the same 1.50% expense ratio. On volatility, INTW has been the lower-risk option at 55.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MULL or INTW?

Over the 1-year period, MULL has performed better with a 3622.12% return vs 1964.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MULL or INTW?

MULL and INTW have the same expense ratio: 1.50% per year.

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

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

Which has better risk-adjusted returns?

MULL currently has the higher Sharpe Ratio (25.24 vs 13.25), 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.