{"url":"https://etfiq.com/compare/leverage/mull-vs-muu","section":"compare","title":"MULL vs MUU: which held to its multiple? | ETFIQ","description":"MULL sets out to return +2 times MU each day and MUU +2 times. Over the three months to Sep 30, 2026 they finished \u221218.7 pts and \u221219.3 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, MULL or MUU?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, MULL finished 18.7 points from what its multiple implies and MUU finished 19.3 points from its own, so MULL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are MULL and MUU levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on Micron Technology, MULL at +2 times and MUU at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, MULL or MUU?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window MULL\u2019s moved at 76% annualized and MUU\u2019s at 76%, so MULL has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold MULL or MUU for a year?","acceptedAnswer":{"@type":"Answer","text":"Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, MULL or MUU?","acceptedAnswer":{"@type":"Answer","text":"MULL charges 1.50% a year and MUU charges 1.01%, so MUU is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"MULL vs MUU","item":"https://etfiq.com/compare/leverage/mull-vs-muu"}]},{"@type":"WebPage","name":"MULL vs MUU: which held to its multiple?","description":"MULL sets out to return +2 times MU each day and MUU +2 times. Over the three months to Sep 30, 2026 they finished \u221218.7 pts and \u221219.3 pts away.","url":"https://etfiq.com/compare/leverage/mull-vs-muu","dateModified":"2026-09-30","abstract":"Over the days both have traded, MULL finished 2.4 points from its stated multiple and MUU 1.3.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of MULL and MUU","description":"MULL sets out to return +2 times MU each day and MUU +2 times. Over the three months to Sep 30, 2026 they finished \u221218.7 pts and \u221219.3 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/mull-vs-muu","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":6593,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / MULL vs MUU \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n MULL vs MUU: which held to its multiple?\n\n Over the days both have traded, MULL finished 2.4 points from its stated multiple and MUU 1.3.\n Copy this for sharing \n \n GraniteShares 2x Long MU Daily ETF and Direxion Daily MU Bull 2X ETF.\n\n Download as PDF \n\n \u221212.3% MULL returned, 3 months \n \u221212.9% MUU returned, 3 months \n \u221218.7 pts MULL from its stated multiple \n \u221219.3 pts MUU from its stated multiple \n\n ETFIQ Decay Resistance Score: MULL scores higher\n Did it keep up with i","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/mull-vs-muu","a":{"ticker":"MULL","name":"GraniteShares 2x Long MU Daily ETF","issuer":"GraniteShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: MULL returned \u221212.3% where its own daily promise gave \u22127.2%, 5.1 points short.","url":"https://etfiq.com/funds/mull","key_facts":[{"label":"What MU did","value":"+3.2%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u22127.2%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221212.3%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22125.1 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$779m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.50%","as_of":"2026-09-30","source":"485BPOS XBRL, Oct 24, 2025"}]},"b":{"ticker":"MUU","name":"Direxion Daily MU Bull 2X ETF","issuer":"Direxion","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: MUU returned \u221212.9% where its own daily promise gave \u22127.2%, 5.8 points short.","url":"https://etfiq.com/funds/muu","key_facts":[{"label":"What MU did","value":"+3.2%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"\u22127.2%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221212.9%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22125.8 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$4.4bn","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.01%","as_of":"2026-09-30","source":"485BPOS XBRL, Feb 26, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/mull-vs-muu"}