ARMG vs. MUU

Last updated Jun 5, 2026

ARMG (Leverage Shares 2X Long ARM Daily ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. Both are actively managed. Over the past year, ARMG returned 443.95% vs 5396.82% for MUU. At a 0.49 correlation, their price movements are largely independent. ARMG charges 0.75%/yr vs 1.06%/yr for MUU.

Performance

ARMG vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long ARM Daily ETF (ARMG) 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, ARMG achieves a 841.05% return, which is significantly higher than MUU's 798.37% return.

ARMG

• 1D: -9.19%
• 1M: 211.14%
• YTD: 841.05%
• 6M: 460.44%
• 1Y: 443.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: -15.35%
• 1M: 121.05%
• YTD: 798.37%
• 6M: 1,279.44%
• 1Y: 5,396.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ARMG vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
ARMG Leverage Shares 2X Long ARM Daily ETF	841.05%	-61.80%
MUU Direxion Daily MU Bull 2X Shares	798.37%	431.12%

Correlation

The correlation between ARMG and MUU is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.49

Return for Risk

ARMG vs. MUU — Risk / Return Rank

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

ARMG

ARMG Risk / Return Rank: 81
ARMG Sharpe Ratio Rank: 93
ARMG Sortino Ratio Rank: 78
ARMG Omega Ratio Rank: 74
ARMG Calmar Ratio Rank: 93
ARMG Martin Ratio Rank: 65

MUU

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

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.

ARMG vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ARM Daily ETF (ARMG) 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.

	ARMG	MUU	Difference
Sharpe ratio: Return per unit of total volatility	3.43	41.32	-37.89
Sortino ratio: Return per unit of downside risk	3.45	6.77	-3.32
Omega ratio: Gain probability vs. loss probability	1.43	1.86	-0.42
Calmar ratio: Return relative to maximum drawdown	6.57	104.05	-97.48
Martin ratio: Return relative to average drawdown	11.59	352.22	-340.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARMG vs. MUU - Sharpe Ratio Comparison

The current ARMG Sharpe Ratio is 3.43, which is lower than the MUU Sharpe Ratio of 41.32. The chart below compares the historical Sharpe Ratios of ARMG 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.

Sharpe Ratios by Period

	ARMG	MUU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.43	41.32	-37.89
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	5.91	-4.80

Drawdowns

ARMG vs. MUU - Drawdown Comparison

The maximum ARMG drawdown since its inception was -80.28%, which is greater than MUU's maximum drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for ARMG and MUU.

Drawdown Indicators

	ARMG	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-80.28%	-75.07%	-5.21%
Max Drawdown (1Y) Largest decline over 1 year	-68.13%	-52.72%	-15.41%
Current Drawdown Current decline from peak	-9.19%	-15.35%	+6.16%
Average Drawdown Average peak-to-trough decline	-52.91%	-23.42%	-29.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.55%	15.54%	+23.01%

Volatility

ARMG vs. MUU - Volatility Comparison

Leverage Shares 2X Long ARM Daily ETF (ARMG) has a higher volatility of 66.47% compared to Direxion Daily MU Bull 2X Shares (MUU) at 56.84%. This indicates that ARMG's price experiences larger fluctuations and is considered to be riskier than MUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARMG	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	66.47%	56.84%	+9.63%
Volatility (6M) Calculated over the trailing 6-month period	104.49%	106.70%	-2.21%
Volatility (1Y) Calculated over the trailing 1-year period	130.67%	132.77%	-2.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	138.36%	134.14%	+4.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	138.36%	134.14%	+4.22%

ARMG vs. MUU - Expense Ratio Comparison

ARMG has a 0.75% expense ratio, which is lower than MUU's 1.06% expense ratio.

Dividends

ARMG vs. MUU - Dividend Comparison

ARMG's dividend yield for the trailing twelve months is around 0.52%, less than MUU's 0.54% yield.

Position	TTM	2025	2024
ARMG Leverage Shares 2X Long ARM Daily ETF	0.52%	4.86%	0.00%
MUU Direxion Daily MU Bull 2X Shares	0.54%	4.27%	0.31%

Frequently Asked Questions

Can I hold both ARMG and MUU in my portfolio?

ARMG and MUU have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARMG or MUU?

ARMG has higher volatility (66.47%) compared to MUU (56.84%). In terms of maximum drawdown, ARMG dropped -80.28% vs MUU's -75.07%.

Which ETF is better, ARMG or MUU?

On 1-year performance, MUU leads with 5396.82% vs 443.95% for ARMG. On fees, ARMG is cheaper at 0.75% per year. On volatility, MUU has been the lower-risk option at 56.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARMG or MUU?

Over the 1-year period, MUU has performed better with a 5396.82% return vs 443.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARMG or MUU?

ARMG is cheaper with a 0.75% expense ratio, compared with 1.06% for MUU.

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

MUU has the higher dividend yield at 0.54%, compared with 0.52% for ARMG.

What is the main difference between ARMG and MUU?

They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for ARMG and 1.06% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (41.32 vs 3.43), 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.