MULL vs. NFLU

Last updated Jun 24, 2026

MULL (GraniteShares 2x Long MU Daily ETF) and NFLU (T-REX 2X Long Netflix Daily Target ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, MULL returned 3622.12% vs -73.54% for NFLU. At a 0.05 correlation, their price movements are largely independent. MULL charges 1.50%/yr vs 1.05%/yr for NFLU.

Performance

MULL vs. NFLU - Performance Comparison

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

Returns By Period

In the year-to-date period, MULL achieves a 780.13% return, which is significantly higher than NFLU's -46.72% return.

MULL

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

NFLU

• 1D: -0.32%
• 1M: -33.62%
• YTD: -46.72%
• 6M: -46.68%
• 1Y: -73.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MULL vs. NFLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MULL GraniteShares 2x Long MU Daily ETF	780.13%	558.51%	-39.23%
NFLU T-REX 2X Long Netflix Daily Target ETF	-46.72%	-12.47%	19.48%

Correlation

The correlation between MULL and NFLU is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.11
Correlation (All Time) Calculated using the full available price history since Nov 12, 2024	0.05

The correlation between MULL and NFLU shifts across timeframes, from -0.11 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MULL vs. NFLU — 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

NFLU

NFLU Risk / Return Rank: 1
NFLU Sharpe Ratio Rank: 1
NFLU Sortino Ratio Rank: 0
NFLU Omega Ratio Rank: 0
NFLU Calmar Ratio Rank: 1
NFLU Martin Ratio Rank: 1

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. NFLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MU Daily ETF (MULL) and T-REX 2X Long Netflix Daily Target ETF (NFLU). 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	NFLU	Difference
Sharpe ratio: Return per unit of total volatility	25.24	-1.09	+26.32
Sortino ratio: Return per unit of downside risk	5.61	-2.10	+7.71
Omega ratio: Gain probability vs. loss probability	1.71	0.74	+0.98
Calmar ratio: Return relative to maximum drawdown	69.24	-0.96	+70.20
Martin ratio: Return relative to average drawdown	221.31	-1.50	+222.81

MULL vs. NFLU - Sharpe Ratio Comparison

The current MULL Sharpe Ratio is 25.24, which is higher than the NFLU Sharpe Ratio of -1.09. The chart below compares the historical Sharpe Ratios of MULL and NFLU, 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. NFLU - Drawdown Comparison

The maximum MULL drawdown since its inception was -72.29%, smaller than the maximum NFLU drawdown of -76.74%. Use the drawdown chart below to compare losses from any high point for MULL and NFLU.

Drawdown Indicators

	MULL	NFLU	Difference
Max Drawdown Largest peak-to-trough decline	-72.29%	-76.74%	+4.45%
Max Drawdown (1Y) Largest decline over 1 year	-53.09%	-76.74%	+23.65%
Current Drawdown Current decline from peak	-26.45%	-76.74%	+50.29%
Average Drawdown Average peak-to-trough decline	-20.52%	-29.18%	+8.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.58%	49.08%	-32.50%

Volatility

MULL vs. NFLU - Volatility Comparison

GraniteShares 2x Long MU Daily ETF (MULL) has a higher volatility of 74.91% compared to T-REX 2X Long Netflix Daily Target ETF (NFLU) at 16.02%. This indicates that MULL's price experiences larger fluctuations and is considered to be riskier than NFLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MULL	NFLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	74.91%	16.02%	+58.89%
Volatility (6M) Calculated over the trailing 6-month period	119.83%	50.90%	+68.93%
Volatility (1Y) Calculated over the trailing 1-year period	145.72%	67.87%	+77.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	142.49%	69.06%	+73.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	142.49%	69.06%	+73.43%

MULL vs. NFLU - Expense Ratio Comparison

MULL has a 1.50% expense ratio, which is higher than NFLU's 1.05% expense ratio.

Dividends

MULL vs. NFLU - Dividend Comparison

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

Position	TTM	2025
MULL GraniteShares 2x Long MU Daily ETF	0.04%	0.39%
NFLU T-REX 2X Long Netflix Daily Target ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both MULL and NFLU in my portfolio?

MULL and NFLU have a correlation of -0.11, 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 NFLU?

MULL has higher volatility (74.91%) compared to NFLU (16.02%). In terms of maximum drawdown, MULL dropped -72.29% vs NFLU's -76.74%.

Which ETF is better, MULL or NFLU?

On 1-year performance, MULL leads with 3622.12% vs -73.54% for NFLU. On fees, NFLU is cheaper at 1.05% per year. On volatility, NFLU has been the lower-risk option at 16.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MULL or NFLU?

Over the 1-year period, MULL has performed better with a 3622.12% return vs -73.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MULL or NFLU?

NFLU is cheaper with a 1.05% expense ratio, compared with 1.50% for MULL.

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

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

What is the main difference between MULL and NFLU?

They also come from different issuers: GraniteShares and REX Shares. Their fees differ too: 1.50% for MULL and 1.05% for NFLU.

Which has better risk-adjusted returns?

MULL currently has the higher Sharpe Ratio (25.24 vs -1.09), 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.