TEMT vs. MULL

Last updated Jun 23, 2026

TEMT (Tradr 2X Long TEM Daily ETF) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, TEMT returned -72.22% vs 4857.78% for MULL. At a 0.28 correlation, their price movements are largely independent. TEMT charges 1.30%/yr vs 1.50%/yr for MULL.

Performance

TEMT vs. MULL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long TEM Daily ETF (TEMT) 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, TEMT achieves a -50.42% return, which is significantly lower than MULL's 1,096.58% return.

TEMT

• 1D: -11.53%
• 1M: -0.12%
• YTD: -50.42%
• 6M: -60.69%
• 1Y: -72.22%
• 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)

TEMT vs. MULL - Yearly Performance Comparison

	2026 (YTD)	2025
TEMT Tradr 2X Long TEM Daily ETF	-50.42%	-49.34%
MULL GraniteShares 2x Long MU Daily ETF	1,096.58%	617.42%

Correlation

The correlation between TEMT and MULL is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (All Time) Calculated using the full available price history since May 13, 2025	0.28

Return for Risk

TEMT vs. MULL — Risk / Return Rank

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

TEMT

TEMT Risk / Return Rank: 4
TEMT Sharpe Ratio Rank: 4
TEMT Sortino Ratio Rank: 5
TEMT Omega Ratio Rank: 5
TEMT Calmar Ratio Rank: 2
TEMT Martin Ratio Rank: 3

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.

TEMT vs. MULL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long TEM Daily ETF (TEMT) 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.

	TEMT	MULL	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	34.53	-35.09
Sortino ratio: Return per unit of downside risk	-0.52	6.22	-6.74
Omega ratio: Gain probability vs. loss probability	0.95	1.78	-0.84
Calmar ratio: Return relative to maximum drawdown	-0.83	92.96	-93.79
Martin ratio: Return relative to average drawdown	-1.21	298.64	-299.85

TEMT vs. MULL - Sharpe Ratio Comparison

The current TEMT Sharpe Ratio is -0.56, which is lower than the MULL Sharpe Ratio of 34.53. The chart below compares the historical Sharpe Ratios of TEMT 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

TEMT vs. MULL - Drawdown Comparison

The maximum TEMT drawdown since its inception was -87.10%, which is greater than MULL's maximum drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for TEMT and MULL.

Drawdown Indicators

	TEMT	MULL	Difference
Max Drawdown Largest peak-to-trough decline	-87.10%	-72.29%	-14.81%
Max Drawdown (1Y) Largest decline over 1 year	-87.10%	-53.09%	-34.01%
Current Drawdown Current decline from peak	-85.50%	0.00%	-85.50%
Average Drawdown Average peak-to-trough decline	-50.24%	-20.50%	-29.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	59.54%	16.49%	+43.05%

Volatility

TEMT vs. MULL - Volatility Comparison

The current volatility for Tradr 2X Long TEM Daily ETF (TEMT) is 49.28%, while GraniteShares 2x Long MU Daily ETF (MULL) has a volatility of 66.44%. This indicates that TEMT 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

	TEMT	MULL	Difference
Volatility (1M) Calculated over the trailing 1-month period	49.28%	66.44%	-17.16%
Volatility (6M) Calculated over the trailing 6-month period	93.11%	116.36%	-23.25%
Volatility (1Y) Calculated over the trailing 1-year period	129.76%	143.21%	-13.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	136.72%	140.95%	-4.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	136.72%	140.95%	-4.23%

TEMT vs. MULL - Expense Ratio Comparison

TEMT has a 1.30% expense ratio, which is lower than MULL's 1.50% expense ratio.

Dividends

TEMT vs. MULL - Dividend Comparison

TEMT's dividend yield for the trailing twelve months is around 67.78%, more than MULL's 0.03% yield.

Position	TTM	2025
MULL GraniteShares 2x Long MU Daily ETF	0.03%	0.39%
TEMT Tradr 2X Long TEM Daily ETF	67.78%	33.60%

Frequently Asked Questions

Can I hold both TEMT and MULL in my portfolio?

TEMT and MULL have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TEMT or MULL?

MULL has higher volatility (66.44%) compared to TEMT (49.28%). In terms of maximum drawdown, TEMT dropped -87.10% vs MULL's -72.29%.

Which ETF is better, TEMT or MULL?

On 1-year performance, MULL leads with 4857.78% vs -72.22% for TEMT. On fees, TEMT is cheaper at 1.30% per year. On volatility, TEMT has been the lower-risk option at 49.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TEMT or MULL?

Over the 1-year period, MULL has performed better with a 4857.78% return vs -72.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TEMT or MULL?

TEMT is cheaper with a 1.30% expense ratio, compared with 1.50% for MULL.

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

TEMT has the higher dividend yield at 67.78%, compared with 0.03% for MULL.

What is the main difference between TEMT and MULL?

They also come from different issuers: Tradr and GraniteShares. Their fees differ too: 1.30% for TEMT and 1.50% for MULL.

Which has better risk-adjusted returns?

MULL currently has the higher Sharpe Ratio (34.53 vs -0.56), 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.