SCA vs. MULL

Last updated Jul 4, 2026

SCA (GraniteShares Autocallable SMCI ETF) and MULL (GraniteShares 2x Long MU Daily ETF) are both exchange-traded funds - SCA is a Derivative Income fund actively managed by GraniteShares, while MULL is a Leveraged Equities fund actively managed by GraniteShares. Both are actively managed. A 0.53 correlation means they provide meaningful diversification when combined. SCA charges 1.07%/yr vs 1.50%/yr for MULL.

Performance

SCA vs. MULL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Autocallable SMCI ETF (SCA) and GraniteShares 2x Long MU Daily ETF (MULL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SCA

• 1D: -0.88%
• 1M: -19.12%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MULL

• 1D: -11.74%
• 1M: -30.67%
• 6M: 495.12%
• YTD: 618.86%
• 1Y: 2,976.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCA vs. MULL - Yearly Performance Comparison

	2026 (YTD)
SCA GraniteShares Autocallable SMCI ETF	-15.79%
MULL GraniteShares 2x Long MU Daily ETF	-0.62%

Correlation

The correlation between SCA and MULL is 0.53, 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 May 27, 2026	0.53

Return for Risk

SCA vs. MULL — Risk / Return Rank

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

SCA

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.

SCA vs. MULL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Autocallable SMCI ETF (SCA) 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.

	SCA	MULL	Difference
Sharpe ratio: Return per unit of total volatility	—	20.12	—
Sortino ratio: Return per unit of downside risk	—	5.22	—
Omega ratio: Gain probability vs. loss probability	—	1.66	—
Calmar ratio: Return relative to maximum drawdown	—	57.42	—
Martin ratio: Return relative to average drawdown	—	187.84	—

Drawdowns

SCA vs. MULL - Drawdown Comparison

The maximum SCA drawdown since its inception was -20.09%, smaller than the maximum MULL drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for SCA and MULL.

Drawdown Indicators

	SCA	MULL	Difference
Max Drawdown Largest peak-to-trough decline	-20.09%	-72.29%	+52.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-53.09%	—
Current Drawdown Current decline from peak	-20.09%	-39.92%	+19.83%
Average Drawdown Average peak-to-trough decline	-9.48%	-20.53%	+11.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	16.20%	—

Volatility

Volatility by Period

	SCA	MULL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	77.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	126.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	49.51%	151.52%	-102.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.51%	145.26%	-95.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.51%	145.26%	-95.75%

SCA vs. MULL - Expense Ratio Comparison

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

Dividends

SCA vs. MULL - Dividend Comparison

SCA's dividend yield for the trailing twelve months is around 8.21%, more than MULL's 0.05% yield.

Position	TTM	2025
MULL GraniteShares 2x Long MU Daily ETF	0.05%	0.39%
SCA GraniteShares Autocallable SMCI ETF	8.21%	0.00%

Frequently Asked Questions

Can I hold both SCA and MULL in my portfolio?

SCA and MULL have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SCA or MULL?

On fees, SCA 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, SCA or MULL?

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

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

SCA has the higher dividend yield at 8.21%, compared with 0.05% for MULL.

What is the main difference between SCA and MULL?

SCA is categorized as Derivative Income, while MULL is Leveraged Equities. Their fees differ too: 1.07% for SCA and 1.50% for MULL.