MULL vs QQQ
GraniteShares 2x Long MU Daily ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. MULL delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | MULL | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.50% | 0.18% | |
| AUM | $509M | $455.8B | |
| Dividend Yield | 0.04% | 0.41% | |
| Holdings | 2 | 108 | |
| YTD Return | +318.13% | +17.46% | |
| 1Y Return | +2076.87% | +26.02% | |
| 3Y Return (annualized) | - | +25.51% | |
| 5Y Return (annualized) | - | +15.12% | |
| Volatility (annualized) | 224.7% | 30.6% | |
| Max Drawdown | -72.3% | -83.0% | |
| Fund Family | GraniteShares | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Nov 11, 2024 | Mar 10, 1999 |
MULL vs QQQ Performance
GraniteShares 2x Long MU Daily ETF (MULL) is a ETF from GraniteShares and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year MULL returned +2076.87% while QQQ returned +26.02%. Year to date, MULL is up 318.13% versus a gain of 17.46% for QQQ.
Risk: Volatility and Drawdowns
MULL has been the more volatile fund, with annualized monthly volatility of 224.7% compared with 30.6% for QQQ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -72.3% for MULL and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MULL charges 1.50% per year while QQQ charges 0.18%. On a $10,000 position that is $150 vs $18 annually, a gap of $132 per year that compounds over a long holding period. On income, MULL currently yields 0.04% against 0.41% for QQQ.
Holdings Overlap
MULL and QQQ share 0 holdings out of 104 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MULL or QQQ?
MULL has an expense ratio of 1.50% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $132 per year of difference.
Which performed better, MULL or QQQ?
Over the past year MULL returned +2076.87% vs +26.02% for QQQ, so MULL leads on 1-year performance. Over the longest common window we track (2 years), MULL annualized +455.92% vs +13.08% for QQQ. Past performance does not guarantee future results.
Which is riskier, MULL or QQQ?
MULL has been the more volatile fund at 224.7% annualized versus 30.6% for QQQ. Worst drawdown: MULL -72.3% vs QQQ -83.0%.
Should I hold both MULL and QQQ?
MULL and QQQ have a monthly-return correlation of 0.75, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MULL and QQQ?
MULL and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 104 unique securities.
Which pays a higher dividend, MULL or QQQ?
MULL yields 0.04% while QQQ yields 0.41%, so QQQ currently pays the higher dividend yield.
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