NFLU vs. MULL

Last updated Aug 2, 2026

NFLU (T-REX 2X Long Netflix Daily Target ETF) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, NFLU returned -70.21% vs 2639.01% for MULL. Their 0.01 correlation means their historical movements had little consistent relationship. NFLU charges 1.05%/yr vs 1.50%/yr for MULL.

Performance

NFLU vs. MULL - Performance Comparison

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

Returns By Period

In the year-to-date period, NFLU achieves a -50.09% return, which is significantly lower than MULL's 359.36% return.

NFLU

• 1D: -4.37%
• 1M: -16.63%
• 6M: -36.31%
• YTD: -50.09%
• 1Y: -70.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -20.46%

MULL

• 1D: -11.97%
• 1M: -36.10%
• 6M: 129.44%
• YTD: 359.36%
• 1Y: 2,639.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 446.67%

*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)
MULL GraniteShares 2x Long MU Daily ETF	$191.48M	$219.09M	$265.13M
NFLU T-REX 2X Long Netflix Daily Target ETF	$3.54M	$5.25M	$4.46M

NFLU vs. MULL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NFLU T-REX 2X Long Netflix Daily Target ETF	-50.09%	-12.47%	19.48%
MULL GraniteShares 2x Long MU Daily ETF	359.36%	558.51%	-39.23%

Correlation

The correlation between NFLU and MULL is -0.17, 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.	-0.17
Correlation (All Time) Calculated using the full available price history since Nov 12, 2024	0.01

The correlation between NFLU and MULL shifts across timeframes, from -0.17 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NFLU vs. MULL — Risk / Return Rank

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

NFLU

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

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

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.

NFLU vs. MULL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long Netflix Daily Target ETF (NFLU) and GraniteShares 2x Long MU Daily ETF (MULL). 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.

	NFLU	MULL	Difference
Sharpe ratio: Return per unit of total volatility	-1.01	15.08	-16.09
Sortino ratio: Return per unit of downside risk	-1.82	4.77	-6.59
Omega ratio: Gain probability vs. loss probability	0.77	1.59	-0.82
Calmar ratio: Return relative to maximum drawdown	-0.91	35.94	-36.85
Martin ratio: Return relative to average drawdown	-1.44	118.66	-120.10

NFLU vs. MULL - Sharpe Ratio Comparison

The current NFLU Sharpe Ratio is -1.01, which is lower than the MULL Sharpe Ratio of 15.08. The chart below compares the historical Sharpe Ratios of NFLU and MULL, 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

NFLU vs. MULL - Drawdown Comparison

The maximum NFLU drawdown since its inception was -80.45%, which is greater than MULL's maximum drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for NFLU and MULL.

Drawdown Indicators

	NFLU	MULL	Difference
Max Drawdown Largest peak-to-trough decline	-80.45%	-72.29%	-8.16%
Max Drawdown (1Y) Largest decline over 1 year	-77.14%	-68.16%	-8.98%
Current Drawdown Current decline from peak	-78.21%	-61.61%	-16.60%
Average Drawdown Average peak-to-trough decline	-32.00%	-21.86%	-10.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.81%	20.61%	+28.20%

Volatility

NFLU vs. MULL - Volatility Comparison

The current volatility for T-REX 2X Long Netflix Daily Target ETF (NFLU) is 23.16%, while GraniteShares 2x Long MU Daily ETF (MULL) has a volatility of 61.67%. This indicates that NFLU experiences smaller price fluctuations and is considered to be less risky than MULL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFLU	MULL	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.16%	61.67%	-38.51%
Volatility (6M) Calculated over the trailing 6-month period	55.99%	135.25%	-79.26%
Volatility (1Y) Calculated over the trailing 1-year period	69.89%	162.81%	-92.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.64%	149.74%	-80.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.64%	149.74%	-80.10%

NFLU vs. MULL - Expense Ratio Comparison

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

Dividends

NFLU vs. MULL - Dividend Comparison

NFLU has not paid dividends to shareholders, while MULL's dividend yield for the trailing twelve months is around 0.08%.

Position	TTM	2025
MULL GraniteShares 2x Long MU Daily ETF	0.08%	0.39%
NFLU T-REX 2X Long Netflix Daily Target ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both NFLU and MULL in my portfolio?

NFLU and MULL have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NFLU or MULL?

MULL has higher volatility (61.67%) compared to NFLU (23.16%). In terms of maximum drawdown, NFLU dropped -80.45% vs MULL's -72.29%.

Which ETF is better, NFLU or MULL?

On 1-year performance, MULL leads with 2639.01% vs -70.21% for NFLU. On fees, NFLU is cheaper at 1.05% per year. On volatility, NFLU has been the lower-risk option at 23.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NFLU or MULL?

Over the 1-year period, MULL has performed better with a 2639.01% return vs -70.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NFLU or MULL?

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

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

MULL has the higher dividend yield at 0.08%, compared with 0.00% for NFLU.

What is the main difference between NFLU and MULL?

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

Which has better risk-adjusted returns?

MULL currently has the higher Sharpe Ratio (15.08 vs -1.01), 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.