QCMU vs. MULL

Last updated Jun 23, 2026

QCMU (Direxion Daily QCOM Bull 2X Shares) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. At a 0.34 correlation, their price movements are largely independent. QCMU charges 1.07%/yr vs 1.50%/yr for MULL.

Performance

QCMU vs. MULL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily QCOM Bull 2X Shares (QCMU) 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, QCMU achieves a 35.64% return, which is significantly lower than MULL's 1,096.58% return.

QCMU

• 1D: -3.68%
• 1M: -17.77%
• YTD: 35.64%
• 6M: 30.44%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MULL

• 1D: 14.08%
• 1M: 129.77%
• YTD: 1,096.58%
• 6M: 1,164.65%
• 1Y: 4,857.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QCMU vs. MULL - Yearly Performance Comparison

	2026 (YTD)	2025
QCMU Direxion Daily QCOM Bull 2X Shares	35.64%	11.21%
MULL GraniteShares 2x Long MU Daily ETF	1,096.58%	286.75%

Correlation

The correlation between QCMU and MULL is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.35

QCMU vs. MULL - Sectors Allocation Comparison

Sectors	QCMU	MULL
Technology	100.0%	66.7%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

QCMU vs. MULL — Risk / Return Rank

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

QCMU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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: 100
MULL 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.

QCMU vs. MULL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily QCOM Bull 2X Shares (QCMU) 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.

	QCMU	MULL	Difference
Sharpe ratio: Return per unit of total volatility	—	34.53	—
Sortino ratio: Return per unit of downside risk	—	6.22	—
Omega ratio: Gain probability vs. loss probability	—	1.78	—
Calmar ratio: Return relative to maximum drawdown	—	92.96	—
Martin ratio: Return relative to average drawdown	—	298.64	—

Drawdowns

QCMU vs. MULL - Drawdown Comparison

The maximum QCMU drawdown since its inception was -59.48%, smaller than the maximum MULL drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for QCMU and MULL.

Drawdown Indicators

	QCMU	MULL	Difference
Max Drawdown Largest peak-to-trough decline	-59.48%	-72.29%	+12.81%
Max Drawdown (1Y) Largest decline over 1 year	—	-53.09%	—
Current Drawdown Current decline from peak	-25.56%	0.00%	-25.56%
Average Drawdown Average peak-to-trough decline	-22.82%	-20.50%	-2.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	16.49%	—

Volatility

Volatility by Period

	QCMU	MULL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	66.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	116.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	100.77%	143.21%	-42.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	100.77%	140.95%	-40.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	100.77%	140.95%	-40.18%

QCMU vs. MULL - Expense Ratio Comparison

QCMU has a 1.07% expense ratio, which is lower than MULL's 1.50% expense ratio.

Dividends

QCMU vs. MULL - Dividend Comparison

QCMU's dividend yield for the trailing twelve months is around 1.51%, more than MULL's 0.03% yield.

Position	TTM	2025
MULL GraniteShares 2x Long MU Daily ETF	0.03%	0.39%
QCMU Direxion Daily QCOM Bull 2X Shares	1.51%	1.57%

Frequently Asked Questions

Can I hold both QCMU and MULL in my portfolio?

QCMU and MULL have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QCMU or MULL?

On fees, QCMU is cheaper at 1.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QCMU or MULL?

QCMU is cheaper with a 1.07% expense ratio, compared with 1.50% for MULL.

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

QCMU has the higher dividend yield at 1.51%, compared with 0.03% for MULL.

What is the main difference between QCMU and MULL?

They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.07% for QCMU and 1.50% for MULL.