GraniteShares 2x Long MU Daily ETF
CThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.
$20.11−1.60 (−7.37%)
- 3.06%
- $857M
- +1204.7%
- 7.7M sh
- $21.69
- low $1.74high $43.53
The ETF.net MULL Grade
C
Score 44 out of 100
- 112 of 380
Score 44 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F1 out of 100Rank 375 of 380Mission
Whether the fund did what it promised, tested against its stated mandate.A95 out of 100Rank 47 of 148Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B65 out of 100Rank 95 of 363Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A96 out of 100Rank 2 of 380Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A83 out of 100Rank 10 of 380
Our read on MULL
CA two-times daily bet on Micron, the memory chipmaker wired into the AI hardware cycle. The leverage resets every session, so GraniteShares built this for traders working in hours and days, not quarters.
The Fund seeks daily investment results, before fees and expenses, equal to 2 times the daily percentage change of Micron Technology, Inc. common stock. It is intended as a short-term leveraged trading vehicle and is not expected to deliver twice the cumulative return over periods longer than one day.
Why people hold it
- Does the one job a leveraged fund has: day-to-day results have tracked twice Micron's daily move closely since the 2024 launch.graniteshares.com
- One of the most actively traded names in the single-stock leveraged crowd, so entering and exiting a position rarely means fighting a wide spread.
- Rare shelf space: only one other US ETF (MUU) targets the same 2x daily Micron exposure, and MULL sits in the upper half of a crowded bull cohort.
Worth knowing
- You pay up for it. The 3.06% expense ratio runs about triple the cohort median, and MUU charges 1.01% for the same 2x daily Micron target.
- The 2x applies to one day only. Hold longer and compounding takes over, so multi-week results can diverge from twice Micron's move, especially in choppy tape.graniteshares.com
- A single company drives everything, doubled: earnings night, memory pricing swings and AI demand headlines all land twice as hard.
MULL Holdings
- Other
- 2
- 100%
- MU
Sectors
- Technology100.0%
Geography
- United States100.00%
MULL Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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MULL$130,471
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | MULL |
|---|---|
| Year to date | +504.7% |
| 1 month | −0.6% |
| 3 months | −15.9% |
| 1 year | +1204.7% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | MULL |
|---|---|---|
| 2026 YTD | +504.7% | |
| 2025 | +558.9% | |
| 2024 | −40.1% |
MULL in the news
MULL Dividends
- $0.01 per share
- Irregular
Distribution data unavailable.
Distribution history
MULL Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 218.9%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.62
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −72.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 9.68
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MULL Cost
3.06%
MULL3.06%
- The middle half of Single-Stock Long Leveraged funds
- Median 0.98%
327 of the 333 Single-Stock Long Leveraged funds charge less.
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