YINN vs. MULL

Last updated Jun 26, 2026

YINN (Direxion Daily China 3x Bull Shares) and MULL (GraniteShares 2x Long MU Daily ETF) are both Leveraged Equities funds. YINN is passively managed, while MULL is actively managed. Over the past year, YINN returned -47.64% vs 4402.04% for MULL. At a 0.30 correlation, their price movements are largely independent. YINN charges 1.52%/yr vs 1.50%/yr for MULL.

Performance

YINN vs. MULL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily China 3x Bull Shares (YINN) 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, YINN achieves a -48.49% return, which is significantly lower than MULL's 1,049.06% return.

YINN

• 1D: -6.38%
• 1M: -30.18%
• YTD: -48.49%
• 6M: -49.76%
• 1Y: -47.64%
• 3Y*: -11.77%
• 5Y*: -42.90%
• 10Y*: -20.45%

MULL

• 1D: 32.11%
• 1M: 58.86%
• YTD: 1,049.06%
• 6M: 1,033.19%
• 1Y: 4,402.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YINN vs. MULL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YINN Direxion Daily China 3x Bull Shares	-48.49%	54.21%	-11.45%
MULL GraniteShares 2x Long MU Daily ETF	1,049.06%	558.51%	-39.23%

Correlation

The correlation between YINN and MULL is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (All Time) Calculated using the full available price history since Nov 12, 2024	0.30

YINN vs. MULL - Sectors Allocation Comparison

Sectors	YINN	MULL
Financial Services	34.8%	-
Consumer Cyclical	26.4%	-
Communication Services	16.3%	-
Technology	5.4%	66.7%
Energy	5.3%	-
Basic Materials	3.9%	-
Industrials	3.2%	-
Healthcare	2.3%	-
Real Estate	1.1%	-
Consumer Defensive	0.9%	-
Utilities	0.4%	-

Return for Risk

YINN vs. MULL — Risk / Return Rank

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

YINN

YINN Risk / Return Rank: 3
YINN Sharpe Ratio Rank: 3
YINN Sortino Ratio Rank: 3
YINN Omega Ratio Rank: 3
YINN Calmar Ratio Rank: 3
YINN Martin Ratio Rank: 0

MULL

MULL Risk / Return Rank: 99
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.

YINN vs. MULL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bull Shares (YINN) 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.

	YINN	MULL	Difference
Sharpe ratio: Return per unit of total volatility	-0.81	30.09	-30.90
Sortino ratio: Return per unit of downside risk	-1.10	5.88	-6.98
Omega ratio: Gain probability vs. loss probability	0.87	1.75	-0.88
Calmar ratio: Return relative to maximum drawdown	-0.78	84.21	-84.99
Martin ratio: Return relative to average drawdown	-1.75	276.41	-278.15

YINN vs. MULL - Sharpe Ratio Comparison

The current YINN Sharpe Ratio is -0.81, which is lower than the MULL Sharpe Ratio of 30.09. The chart below compares the historical Sharpe Ratios of YINN 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

YINN vs. MULL - Drawdown Comparison

The maximum YINN drawdown since its inception was -98.87%, which is greater than MULL's maximum drawdown of -72.29%. Use the drawdown chart below to compare losses from any high point for YINN and MULL.

Drawdown Indicators

	YINN	MULL	Difference
Max Drawdown Largest peak-to-trough decline	-98.87%	-72.29%	-26.58%
Max Drawdown (1Y) Largest decline over 1 year	-61.16%	-53.09%	-8.07%
Max Drawdown (3Y) Largest decline over 3 years	-69.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-96.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-98.59%	—	—
Current Drawdown Current decline from peak	-98.17%	-3.97%	-94.20%
Average Drawdown Average peak-to-trough decline	-68.57%	-20.49%	-48.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.29%	16.46%	+10.83%

Volatility

YINN vs. MULL - Volatility Comparison

The current volatility for Direxion Daily China 3x Bull Shares (YINN) is 18.62%, while GraniteShares 2x Long MU Daily ETF (MULL) has a volatility of 72.81%. This indicates that YINN 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

	YINN	MULL	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.62%	72.81%	-54.19%
Volatility (6M) Calculated over the trailing 6-month period	44.10%	122.03%	-77.93%
Volatility (1Y) Calculated over the trailing 1-year period	58.76%	148.63%	-89.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.34%	144.22%	-49.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.59%	144.22%	-62.63%

YINN vs. MULL - Expense Ratio Comparison

YINN has a 1.52% expense ratio, which is higher than MULL's 1.50% expense ratio.

Dividends

YINN vs. MULL - Dividend Comparison

YINN's dividend yield for the trailing twelve months is around 1.73%, more than MULL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MULL GraniteShares 2x Long MU Daily ETF	0.03%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
YINN Direxion Daily China 3x Bull Shares	1.73%	1.12%	1.81%	4.17%	1.16%	0.73%	0.76%	1.38%	1.02%	1.11%

Frequently Asked Questions

Can I hold both YINN and MULL in my portfolio?

YINN and MULL have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YINN or MULL?

MULL has higher volatility (72.81%) compared to YINN (18.62%). In terms of maximum drawdown, YINN dropped -98.87% vs MULL's -72.29%.

Which ETF is better, YINN or MULL?

On 1-year performance, MULL leads with 4402.04% vs -47.64% for YINN. On fees, MULL is cheaper at 1.50% per year. On volatility, YINN has been the lower-risk option at 18.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YINN or MULL?

Over the 1-year period, MULL has performed better with a 4402.04% return vs -47.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YINN or MULL?

MULL is cheaper with a 1.50% expense ratio, compared with 1.52% for YINN.

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

YINN has the higher dividend yield at 1.73%, compared with 0.03% for MULL.

What is the main difference between YINN and MULL?

They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.52% for YINN and 1.50% for MULL.

Which has better risk-adjusted returns?

MULL currently has the higher Sharpe Ratio (30.09 vs -0.81), 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.