TEXU vs. MULL

Last updated Jun 30, 2026

TEXU (Direxion Daily Energy Top 5 Bull 2X ETF) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. Both are actively managed. At a correlation of -0.13, they often move in opposite directions.

Performance

TEXU vs. MULL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Energy Top 5 Bull 2X ETF (TEXU) 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, TEXU achieves a 36.10% return, which is significantly lower than MULL's 912.93% return.

TEXU

• 1D: -3.52%
• 1M: -13.41%
• YTD: 36.10%
• 6M: 37.64%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MULL

• 1D: 3.06%
• 1M: 19.86%
• YTD: 912.93%
• 6M: 849.12%
• 1Y: 4,062.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TEXU vs. MULL - Yearly Performance Comparison

	2026 (YTD)	2025
TEXU Direxion Daily Energy Top 5 Bull 2X ETF	36.10%	-1.42%
MULL GraniteShares 2x Long MU Daily ETF	912.93%	148.44%

Correlation

The correlation between TEXU and MULL is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	-0.13

Return for Risk

TEXU vs. MULL — Risk / Return Rank

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

TEXU

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.

TEXU vs. MULL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Top 5 Bull 2X ETF (TEXU) 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.

	TEXU	MULL	Difference
Sharpe ratio: Return per unit of total volatility	—	27.61	—
Sortino ratio: Return per unit of downside risk	—	5.72	—
Omega ratio: Gain probability vs. loss probability	—	1.73	—
Calmar ratio: Return relative to maximum drawdown	—	77.69	—
Martin ratio: Return relative to average drawdown	—	259.67	—

Drawdowns

TEXU vs. MULL - Drawdown Comparison

The maximum TEXU drawdown since its inception was -29.19%, smaller than the maximum MULL drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for TEXU and MULL.

Drawdown Indicators

	TEXU	MULL	Difference
Max Drawdown Largest peak-to-trough decline	-29.19%	-72.29%	+43.10%
Max Drawdown (1Y) Largest decline over 1 year	—	-53.09%	—
Current Drawdown Current decline from peak	-29.19%	-15.35%	-13.84%
Average Drawdown Average peak-to-trough decline	-6.96%	-20.47%	+13.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	15.90%	—

Volatility

Volatility by Period

	TEXU	MULL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	74.72%	—
Volatility (6M) Calculated over the trailing 6-month period	—	123.17%	—
Volatility (1Y) Calculated over the trailing 1-year period	40.81%	149.68%	-108.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.81%	144.41%	-103.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.81%	144.41%	-103.60%

Dividends

TEXU vs. MULL - Dividend Comparison

TEXU's dividend yield for the trailing twelve months is around 1.62%, more than MULL's 0.04% yield.

Position	TTM	2025
MULL GraniteShares 2x Long MU Daily ETF	0.04%	0.39%
TEXU Direxion Daily Energy Top 5 Bull 2X ETF	1.62%	0.67%

Frequently Asked Questions

Can I hold both TEXU and MULL in my portfolio?

TEXU and MULL have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

TEXU has the higher dividend yield at 1.62%, compared with 0.04% for MULL.

What is the main difference between TEXU and MULL?

They also come from different issuers: Direxion and GraniteShares.