AMDL vs. MUU

Last updated Aug 4, 2026

AMDL (GraniteShares 2x Long AMD Daily ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds - AMDL tracks the Advanced Micro Devices, Inc. (200%) while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. Over the past year, AMDL returned 337.66% vs 2844.73% for MUU. Their 0.56 correlation means they have sometimes moved together and sometimes differently. AMDL charges 1.07%/yr vs 1.01%/yr for MUU.

Performance

AMDL vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long AMD Daily ETF (AMDL) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMDL achieves a 242.25% return, which is significantly lower than MUU's 378.90% return.

AMDL

• 1D: 2.88%
• 1M: -18.31%
• 6M: 166.77%
• YTD: 242.25%
• 1Y: 337.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 36.27%

MUU

• 1D: 1.35%
• 1M: -35.62%
• 6M: 114.51%
• YTD: 378.90%
• 1Y: 2,844.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 419.02%

*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)
AMDL GraniteShares 2x Long AMD Daily ETF	$183.29M	$203.26M	$349.81M
MUU Direxion Daily MU Bull 2X Shares	$1.54B	$1.50B	$2.29B

AMDL vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AMDL GraniteShares 2x Long AMD Daily ETF	242.25%	103.00%	-53.32%
MUU Direxion Daily MU Bull 2X Shares	378.90%	599.03%	-40.91%

Correlation

The correlation between AMDL and MUU is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.55
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	0.56

The correlation between AMDL and MUU has been stable across timeframes, ranging from 0.55 to 0.56 - a consistent structural relationship.

Return for Risk

AMDL vs. MUU — Risk / Return Rank

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

AMDL

AMDL Risk / Return Rank: 88
AMDL Sharpe Ratio Rank: 91
AMDL Sortino Ratio Rank: 86
AMDL Omega Ratio Rank: 83
AMDL Calmar Ratio Rank: 96
AMDL Martin Ratio Rank: 82

MUU

MUU Risk / Return Rank: 98
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 96
MUU Calmar Ratio Rank: 99
MUU 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.

AMDL vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long AMD Daily ETF (AMDL) and Direxion Daily MU Bull 2X Shares (MUU). 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.

	AMDL	MUU	Difference
Sharpe ratio: Return per unit of total volatility	2.39	17.89	-15.50
Sortino ratio: Return per unit of downside risk	2.95	4.98	-2.04
Omega ratio: Gain probability vs. loss probability	1.36	1.63	-0.26
Calmar ratio: Return relative to maximum drawdown	6.06	42.38	-36.32
Martin ratio: Return relative to average drawdown	11.39	138.45	-127.07

AMDL vs. MUU - Sharpe Ratio Comparison

The current AMDL Sharpe Ratio is 2.39, which is lower than the MUU Sharpe Ratio of 17.89. The chart below compares the historical Sharpe Ratios of AMDL and MUU, 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

AMDL vs. MUU - Drawdown Comparison

The maximum AMDL drawdown since its inception was -88.63%, which is greater than MUU's maximum drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for AMDL and MUU.

Drawdown Indicators

	AMDL	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-88.63%	-75.07%	-13.56%
Max Drawdown (1Y) Largest decline over 1 year	-56.13%	-68.07%	+11.94%
Current Drawdown Current decline from peak	-35.69%	-60.98%	+25.29%
Average Drawdown Average peak-to-trough decline	-46.49%	-24.42%	-22.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.82%	20.79%	+9.03%

Volatility

AMDL vs. MUU - Volatility Comparison

The current volatility for GraniteShares 2x Long AMD Daily ETF (AMDL) is 47.95%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 61.31%. This indicates that AMDL experiences smaller price fluctuations and is considered to be less risky than MUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMDL	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	47.95%	61.31%	-13.36%
Volatility (6M) Calculated over the trailing 6-month period	111.57%	133.76%	-22.19%
Volatility (1Y) Calculated over the trailing 1-year period	142.56%	161.53%	-18.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	120.89%	146.55%	-25.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	120.89%	146.55%	-25.66%

AMDL vs. MUU - Expense Ratio Comparison

AMDL has a 1.07% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

AMDL vs. MUU - Dividend Comparison

AMDL has not paid dividends to shareholders, while MUU's dividend yield for the trailing twelve months is around 1.42%.

Position	TTM	2025	2024
AMDL GraniteShares 2x Long AMD Daily ETF	0.00%	0.00%	0.00%
MUU Direxion Daily MU Bull 2X Shares	1.42%	4.27%	0.31%

Frequently Asked Questions

Can I hold both AMDL and MUU in my portfolio?

AMDL and MUU have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMDL or MUU?

MUU has higher volatility (61.31%) compared to AMDL (47.95%). In terms of maximum drawdown, AMDL dropped -88.63% vs MUU's -75.07%.

Which ETF is better, AMDL or MUU?

On 1-year performance, MUU leads with 2844.73% vs 337.66% for AMDL. On fees, MUU is cheaper at 1.01% per year. On volatility, AMDL has been the lower-risk option at 47.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMDL or MUU?

Over the 1-year period, MUU has performed better with a 2844.73% return vs 337.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMDL or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.07% for AMDL.

Which ETF pays a higher dividend yield, AMDL or MUU?

MUU has the higher dividend yield at 1.42%, compared with 0.00% for AMDL.

What is the main difference between AMDL and MUU?

AMDL tracks Advanced Micro Devices, Inc. (200%), while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.07% for AMDL and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (17.89 vs 2.39), 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.