AVGU vs. MUU

Last updated Aug 4, 2026

AVGU (GraniteShares 2x Long AVGO Daily ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. AVGU is actively managed, while MUU is passively managed. Over the past year, AVGU returned 34.11% vs 2844.73% for MUU. Their 0.50 correlation means their historical movements had little consistent relationship. AVGU charges 1.50%/yr vs 1.01%/yr for MUU.

Performance

AVGU vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long AVGO Daily ETF (AVGU) 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, AVGU achieves a 6.01% return, which is significantly lower than MUU's 378.90% return.

AVGU

• 1D: 1.04%
• 1M: 15.33%
• 6M: 17.74%
• YTD: 6.01%
• 1Y: 34.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 39.51%

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)
AVGU GraniteShares 2x Long AVGO Daily ETF	$2.09M	$2.95M	$5.92M
MUU Direxion Daily MU Bull 2X Shares	$1.54B	$1.50B	$2.29B

AVGU vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
AVGU GraniteShares 2x Long AVGO Daily ETF	6.01%	33.87%
MUU Direxion Daily MU Bull 2X Shares	378.90%	372.64%

Correlation

The correlation between AVGU and MUU is 0.50, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.50
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.50

Return for Risk

AVGU vs. MUU — Risk / Return Rank

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

AVGU

AVGU Risk / Return Rank: 23
AVGU Sharpe Ratio Rank: 18
AVGU Sortino Ratio Rank: 29
AVGU Omega Ratio Rank: 29
AVGU Calmar Ratio Rank: 21
AVGU Martin Ratio Rank: 19

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.

AVGU vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long AVGO Daily ETF (AVGU) 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.

	AVGU	MUU	Difference
Sharpe ratio: Return per unit of total volatility	0.36	17.89	-17.53
Sortino ratio: Return per unit of downside risk	1.17	4.98	-3.81
Omega ratio: Gain probability vs. loss probability	1.15	1.63	-0.48
Calmar ratio: Return relative to maximum drawdown	0.64	42.38	-41.73
Martin ratio: Return relative to average drawdown	1.19	138.45	-137.26

AVGU vs. MUU - Sharpe Ratio Comparison

The current AVGU Sharpe Ratio is 0.36, which is lower than the MUU Sharpe Ratio of 17.89. The chart below compares the historical Sharpe Ratios of AVGU 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

AVGU vs. MUU - Drawdown Comparison

The maximum AVGU drawdown since its inception was -53.30%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for AVGU and MUU.

Drawdown Indicators

	AVGU	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-53.30%	-75.07%	+21.77%
Max Drawdown (1Y) Largest decline over 1 year	-53.30%	-68.07%	+14.77%
Current Drawdown Current decline from peak	-39.17%	-60.98%	+21.81%
Average Drawdown Average peak-to-trough decline	-22.90%	-24.42%	+1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.67%	20.79%	+7.88%

Volatility

AVGU vs. MUU - Volatility Comparison

The current volatility for GraniteShares 2x Long AVGO Daily ETF (AVGU) is 24.87%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 61.31%. This indicates that AVGU 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

	AVGU	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.87%	61.31%	-36.44%
Volatility (6M) Calculated over the trailing 6-month period	70.09%	133.76%	-63.67%
Volatility (1Y) Calculated over the trailing 1-year period	95.06%	161.53%	-66.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	93.37%	146.55%	-53.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	93.37%	146.55%	-53.18%

AVGU vs. MUU - Expense Ratio Comparison

AVGU has a 1.50% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

AVGU vs. MUU - Dividend Comparison

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

Position	TTM	2025	2024
AVGU GraniteShares 2x Long AVGO 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 AVGU and MUU in my portfolio?

AVGU and MUU have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVGU or MUU?

MUU has higher volatility (61.31%) compared to AVGU (24.87%). In terms of maximum drawdown, AVGU dropped -53.30% vs MUU's -75.07%.

Which ETF is better, AVGU or MUU?

On 1-year performance, MUU leads with 2844.73% vs 34.11% for AVGU. On fees, MUU is cheaper at 1.01% per year. On volatility, AVGU has been the lower-risk option at 24.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVGU or MUU?

Over the 1-year period, MUU has performed better with a 2844.73% return vs 34.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVGU or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.50% for AVGU.

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

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

What is the main difference between AVGU and MUU?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for AVGU and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (17.89 vs 0.36), 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.