SNDU vs. MULL

Last updated Jul 11, 2026

SNDU (T-REX 2X Long SNDK Daily Target ETF) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. SNDU is passively managed, while MULL is actively managed. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 1.50% expense ratio.

Performance

SNDU vs. MULL - Performance Comparison

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

Returns By Period

SNDU

• 1D: 6.28%
• 1M: -21.69%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MULL

• 1D: -2.53%
• 1M: -10.77%
• 6M: 404.87%
• YTD: 619.42%
• 1Y: 2,882.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SNDU vs. MULL - Yearly Performance Comparison

	2026 (YTD)
SNDU T-REX 2X Long SNDK Daily Target ETF	461.44%
MULL GraniteShares 2x Long MU Daily ETF	278.82%

Correlation

The correlation between SNDU and MULL is 0.78, 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 Mar 12, 2026	0.78

Return for Risk

SNDU vs. MULL — Risk / Return Rank

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

SNDU

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: 99
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.

SNDU vs. MULL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long SNDK Daily Target ETF (SNDU) 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.

	SNDU	MULL	Difference
Sharpe ratio: Return per unit of total volatility	—	19.64	—
Sortino ratio: Return per unit of downside risk	—	5.18	—
Omega ratio: Gain probability vs. loss probability	—	1.66	—
Calmar ratio: Return relative to maximum drawdown	—	56.18	—
Martin ratio: Return relative to average drawdown	—	173.42	—

Drawdowns

SNDU vs. MULL - Drawdown Comparison

The maximum SNDU drawdown since its inception was -56.44%, smaller than the maximum MULL drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for SNDU and MULL.

Drawdown Indicators

	SNDU	MULL	Difference
Max Drawdown Largest peak-to-trough decline	-56.44%	-72.29%	+15.85%
Max Drawdown (1Y) Largest decline over 1 year	—	-53.09%	—
Current Drawdown Current decline from peak	-39.57%	-39.88%	+0.31%
Average Drawdown Average peak-to-trough decline	-13.78%	-20.78%	+7.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	17.16%	—

Volatility

Volatility by Period

	SNDU	MULL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	68.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	124.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	221.91%	151.84%	+70.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	221.91%	144.77%	+77.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	221.91%	144.77%	+77.14%

SNDU vs. MULL - Expense Ratio Comparison

Both SNDU and MULL have an expense ratio of 1.50%.

Dividends

SNDU vs. MULL - Dividend Comparison

SNDU has not paid dividends to shareholders, while MULL's dividend yield for the trailing twelve months is around 0.05%.

Position	TTM	2025
MULL GraniteShares 2x Long MU Daily ETF	0.05%	0.39%
SNDU T-REX 2X Long SNDK Daily Target ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both SNDU and MULL in my portfolio?

SNDU and MULL have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SNDU or MULL?

Both ETFs have the same 1.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SNDU or MULL?

SNDU and MULL have the same expense ratio: 1.50% per year.

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

MULL has the higher dividend yield at 0.05%, compared with 0.00% for SNDU.

What is the main difference between SNDU and MULL?

They also come from different issuers: T-Rex and GraniteShares.