TSII vs. MULL

Last updated Aug 2, 2026

TSII (REX TSLA Growth & Income ETF) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, TSII returned -2.85% vs 2639.01% for MULL. Their 0.39 correlation means their historical movements had little consistent relationship. TSII charges 0.99%/yr vs 1.50%/yr for MULL.

Performance

TSII vs. MULL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX TSLA Growth & Income ETF (TSII) 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, TSII achieves a -35.03% return, which is significantly lower than MULL's 359.36% return.

TSII

• 1D: 1.37%
• 1M: -22.61%
• 6M: -32.70%
• YTD: -35.03%
• 1Y: -2.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -8.22%

MULL

• 1D: -11.97%
• 1M: -36.10%
• 6M: 129.44%
• YTD: 359.36%
• 1Y: 2,639.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 446.67%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MULL GraniteShares 2x Long MU Daily ETF	$191.48M	$219.09M	$265.13M
TSII REX TSLA Growth & Income ETF	$1.63M	$1.31M	$1.07M

TSII vs. MULL - Yearly Performance Comparison

	2026 (YTD)	2025
TSII REX TSLA Growth & Income ETF	-35.03%	39.41%
MULL GraniteShares 2x Long MU Daily ETF	359.36%	495.48%

Correlation

The correlation between TSII and MULL is 0.42, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.42
Correlation (All Time) Calculated using the full available price history since Jun 4, 2025	0.39

Return for Risk

TSII vs. MULL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TSII

TSII Risk / Return Rank: 10
TSII Sharpe Ratio Rank: 9
TSII Sortino Ratio Rank: 11
TSII Omega Ratio Rank: 12
TSII Calmar Ratio Rank: 9
TSII Martin Ratio Rank: 9

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) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TSII vs. MULL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX TSLA Growth & Income ETF (TSII) 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.

	TSII	MULL	Difference
Sharpe ratio: Return per unit of total volatility	-0.10	15.08	-15.18
Sortino ratio: Return per unit of downside risk	0.19	4.77	-4.58
Omega ratio: Gain probability vs. loss probability	1.02	1.59	-0.57
Calmar ratio: Return relative to maximum drawdown	-0.11	35.94	-36.05
Martin ratio: Return relative to average drawdown	-0.29	118.66	-118.96

TSII vs. MULL - Sharpe Ratio Comparison

The current TSII Sharpe Ratio is -0.10, which is lower than the MULL Sharpe Ratio of 15.08. The chart below compares the historical Sharpe Ratios of TSII 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

TSII vs. MULL - Drawdown Comparison

The maximum TSII drawdown since its inception was -44.14%, smaller than the maximum MULL drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for TSII and MULL.

Drawdown Indicators

	TSII	MULL	Difference
Max Drawdown Largest peak-to-trough decline	-44.14%	-72.29%	+28.15%
Max Drawdown (1Y) Largest decline over 1 year	-44.14%	-68.16%	+24.02%
Current Drawdown Current decline from peak	-40.63%	-61.61%	+20.98%
Average Drawdown Average peak-to-trough decline	-11.52%	-21.86%	+10.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.75%	20.61%	-4.86%

Volatility

TSII vs. MULL - Volatility Comparison

The current volatility for REX TSLA Growth & Income ETF (TSII) is 24.75%, while GraniteShares 2x Long MU Daily ETF (MULL) has a volatility of 61.67%. This indicates that TSII 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

	TSII	MULL	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.75%	61.67%	-36.92%
Volatility (6M) Calculated over the trailing 6-month period	37.69%	135.25%	-97.56%
Volatility (1Y) Calculated over the trailing 1-year period	47.70%	162.81%	-115.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.45%	149.74%	-99.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.45%	149.74%	-99.29%

TSII vs. MULL - Expense Ratio Comparison

TSII has a 0.99% expense ratio, which is lower than MULL's 1.50% expense ratio.

Dividends

TSII vs. MULL - Dividend Comparison

TSII's dividend yield for the trailing twelve months is around 109.28%, more than MULL's 0.08% yield.

Position	TTM	2025
MULL GraniteShares 2x Long MU Daily ETF	0.08%	0.39%
TSII REX TSLA Growth & Income ETF	109.28%	32.17%

Frequently Asked Questions

Can I hold both TSII and MULL in my portfolio?

TSII and MULL have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSII or MULL?

MULL has higher volatility (61.67%) compared to TSII (24.75%). In terms of maximum drawdown, TSII dropped -44.14% vs MULL's -72.29%.

Which ETF is better, TSII or MULL?

On 1-year performance, MULL leads with 2639.01% vs -2.85% for TSII. On fees, TSII is cheaper at 0.99% per year. On volatility, TSII has been the lower-risk option at 24.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSII or MULL?

Over the 1-year period, MULL has performed better with a 2639.01% return vs -2.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSII or MULL?

TSII is cheaper with a 0.99% expense ratio, compared with 1.50% for MULL.

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

TSII has the higher dividend yield at 109.28%, compared with 0.08% for MULL.

What is the main difference between TSII and MULL?

They also come from different issuers: REX and GraniteShares. Their fees differ too: 0.99% for TSII and 1.50% for MULL.

Which has better risk-adjusted returns?

MULL currently has the higher Sharpe Ratio (15.08 vs -0.10), 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.