QQXL vs. MULL
QQXL (ProShares Ultra QQQ Top 30) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. Both are actively managed. A 0.61 correlation means they provide meaningful diversification when combined. QQXL charges 0.95%/yr vs 1.50%/yr for MULL.
Performance
QQXL vs. MULL - Performance Comparison
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Returns By Period
In the year-to-date period, QQXL achieves a 41.81% return, which is significantly lower than MULL's 774.91% return.
QQXL
- 1D
- -1.36%
- 1M
- 16.51%
- YTD
- 41.81%
- 6M
- 39.24%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MULL
- 1D
- -15.62%
- 1M
- 119.20%
- YTD
- 774.91%
- 6M
- 1,229.17%
- 1Y
- 5,016.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QQXL vs. MULL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQXL ProShares Ultra QQQ Top 30 | 41.81% | 8.66% |
MULL GraniteShares 2x Long MU Daily ETF | 774.91% | 354.94% |
Correlation
The correlation between QQXL and MULL is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 18, 2025 | 0.61 |
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Return for Risk
QQXL vs. MULL — Risk / Return Rank
QQXL
MULL
QQXL vs. MULL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ Top 30 (QQXL) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| QQXL | MULL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 38.21 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.95 | 6.53 | -4.58 |
Drawdowns
QQXL vs. MULL - Drawdown Comparison
The maximum QQXL drawdown since its inception was -27.34%, smaller than the maximum MULL drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for QQXL and MULL.
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Drawdown Indicators
| QQXL | MULL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.34% | -72.29% | +44.95% |
Max Drawdown (1Y)Largest decline over 1 year | — | -53.09% | — |
Current DrawdownCurrent decline from peak | -1.84% | -15.62% | +13.78% |
Average DrawdownAverage peak-to-trough decline | -6.74% | -20.61% | +13.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 15.82% | — |
Volatility
QQXL vs. MULL - Volatility Comparison
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Volatility by Period
| QQXL | MULL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 57.59% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 107.25% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 36.93% | 133.41% | -96.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.93% | 136.72% | -99.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.93% | 136.72% | -99.79% |
QQXL vs. MULL - Expense Ratio Comparison
QQXL has a 0.95% expense ratio, which is lower than MULL's 1.50% expense ratio.
Dividends
QQXL vs. MULL - Dividend Comparison
QQXL's dividend yield for the trailing twelve months is around 0.45%, more than MULL's 0.04% yield.
| Position | TTM | 2025 |
|---|---|---|
MULL GraniteShares 2x Long MU Daily ETF | 0.04% | 0.39% |
QQXL ProShares Ultra QQQ Top 30 | 0.45% | 0.08% |
Frequently Asked Questions
QQXL and MULL have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QQXL is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QQXL is cheaper with a 0.95% expense ratio, compared with 1.50% for MULL.
QQXL has the higher dividend yield at 0.45%, compared with 0.04% for MULL.
They also come from different issuers: ProShares and GraniteShares. Their fees differ too: 0.95% for QQXL and 1.50% for MULL.
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