MULL vs. SKRE
MULL (GraniteShares 2x Long MU Daily ETF) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both exchange-traded funds - MULL is a Leveraged Equities fund actively managed by GraniteShares, while SKRE is a Inverse Equities fund tracking the S&P Regional Banks Select Industry. MULL is actively managed, while SKRE is passively managed. Over the past year, MULL returned 2677.24% vs -50.55% for SKRE. Their -0.18 correlation means they have often moved in opposite directions in the past. MULL charges 1.50%/yr vs 0.75%/yr for SKRE.
Performance
MULL vs. SKRE - 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 SKRE's -35.15% 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%
SKRE
- 1D
- -2.27%
- 1M
- -5.74%
- 6M
- -23.25%
- YTD
- -35.15%
- 1Y
- -50.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -41.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $193.24M | $208.11M | $267.73M | |
| $121.93K | $143.27K | $245.32K |
MULL vs. SKRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MULL GraniteShares 2x Long MU Daily ETF | 365.77% | 558.51% | -39.23% |
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF | -35.15% | -31.29% | 19.53% |
Correlation
The correlation between MULL and SKRE is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.03 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2024 | -0.18 |
The correlation between MULL and SKRE shifts across timeframes, from -0.18 (all time) to -0.03 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MULL vs. SKRE — Risk / Return Rank
MULL
SKRE
MULL vs. SKRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MU Daily ETF (MULL) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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 | SKRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +17.85 | ||
| Sortino ratioReturn per unit of downside risk | +6.68 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 0.80 | +0.82 |
| Calmar ratioReturn relative to maximum drawdown | 39.82 | -0.99 | +40.81 |
| Martin ratioReturn relative to average drawdown | 129.25 | -1.65 | +130.90 |
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Drawdowns
MULL vs. SKRE - Drawdown Comparison
The maximum MULL drawdown since its inception was -72.29%, smaller than the maximum SKRE drawdown of -79.33%. Use the drawdown chart below to compare losses from any high point for MULL and SKRE.
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Drawdown Indicators
| MULL | SKRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.29% | -79.33% | +7.04% |
Max Drawdown (1Y)Largest decline over 1 year | -68.16% | -51.44% | -16.72% |
Current DrawdownCurrent decline from peak | -61.07% | -78.96% | +17.89% |
Average DrawdownAverage peak-to-trough decline | -21.95% | -49.09% | +27.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.96% | 30.75% | -9.79% |
Volatility
MULL vs. SKRE - Volatility Comparison
GraniteShares 2x Long MU Daily ETF (MULL) has a higher volatility of 60.92% compared to Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) at 10.82%. This indicates that MULL's price experiences larger fluctuations and is considered to be riskier than SKRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MULL | SKRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 60.92% | 10.82% | +50.10% |
Volatility (6M)Calculated over the trailing 6-month period | 134.81% | 30.42% | +104.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 162.42% | 45.86% | +116.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 149.56% | 54.75% | +94.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 149.56% | 54.75% | +94.81% |
MULL vs. SKRE - Expense Ratio Comparison
MULL has a 1.50% expense ratio, which is higher than SKRE's 0.75% expense ratio.
Dividends
MULL vs. SKRE - Dividend Comparison
MULL's dividend yield for the trailing twelve months is around 0.08%, less than SKRE's 0.39% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
MULL GraniteShares 2x Long MU Daily ETF | 0.08% | 0.39% | 0.00% |
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF | 0.39% | 0.26% | 3.16% |
Frequently Asked Questions
MULL and SKRE have a correlation of -0.03, 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 SKRE (10.82%). In terms of maximum drawdown, MULL dropped -72.29% vs SKRE's -79.33%.
On 1-year performance, MULL leads with 2677.24% vs -50.55% for SKRE. On fees, SKRE is cheaper at 0.75% per year. On volatility, SKRE has been the lower-risk option at 10.82%. 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 -50.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SKRE is cheaper with a 0.75% expense ratio, compared with 1.50% for MULL.
SKRE has the higher dividend yield at 0.39%, compared with 0.08% for MULL.
MULL is categorized as Leveraged Equities, while SKRE is Inverse Equities. They also come from different issuers: GraniteShares and Tuttle. Their fees differ too: 1.50% for MULL and 0.75% for SKRE.
MULL currently has the higher Sharpe Ratio (16.75 vs -1.11), 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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