BIB vs. MUU

Last updated Jun 24, 2026

BIB (ProShares Ultra Nasdaq Biotechnology) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds - BIB tracks the NASDAQ Biotechnology Index (200%) while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. At a 0.20 correlation, their price movements are largely independent. BIB charges 0.95%/yr vs 1.01%/yr for MUU.

Performance

BIB vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Nasdaq Biotechnology (BIB) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BIB

• 1D: 1.97%
• 1M: 9.49%
• YTD: 12.50%
• 6M: 8.62%
• 1Y: 100.86%
• 3Y*: 19.65%
• 5Y*: -0.74%
• 10Y*: 9.71%

MUU

• 1D: -26.28%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BIB vs. MUU - Yearly Performance Comparison

	2026 (YTD)
BIB ProShares Ultra Nasdaq Biotechnology	7.20%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between BIB and MUU is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 16, 2026	0.20

Return for Risk

BIB vs. MUU — Risk / Return Rank

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

BIB

BIB Risk / Return Rank: 80
BIB Sharpe Ratio Rank: 83
BIB Sortino Ratio Rank: 73
BIB Omega Ratio Rank: 65
BIB Calmar Ratio Rank: 92
BIB Martin Ratio Rank: 88

MUU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

BIB vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Biotechnology (BIB) 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.

	BIB	MUU	Difference
Sharpe ratio: Return per unit of total volatility	2.51	—	—
Sortino ratio: Return per unit of downside risk	3.08	—	—
Omega ratio: Gain probability vs. loss probability	1.36	—	—
Calmar ratio: Return relative to maximum drawdown	5.99	—	—
Martin ratio: Return relative to average drawdown	18.30	—	—

Drawdowns

BIB vs. MUU - Drawdown Comparison

The maximum BIB drawdown since its inception was -67.24%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for BIB and MUU.

Drawdown Indicators

	BIB	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-67.24%	-26.28%	-40.96%
Max Drawdown (1Y) Largest decline over 1 year	-16.92%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-45.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-65.86%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-66.20%	—	—
Current Drawdown Current decline from peak	-17.29%	-26.28%	+8.99%
Average Drawdown Average peak-to-trough decline	-32.71%	-10.19%	-22.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.53%	—	—

Volatility

Volatility by Period

	BIB	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	31.65%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	40.43%	295.32%	-254.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.60%	295.32%	-251.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.39%	295.32%	-248.93%

BIB vs. MUU - Expense Ratio Comparison

BIB has a 0.95% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

BIB vs. MUU - Dividend Comparison

BIB's dividend yield for the trailing twelve months is around 0.55%, while MUU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BIB ProShares Ultra Nasdaq Biotechnology	0.55%	0.77%	1.69%	0.07%	0.03%
MUU Direxion Daily MU Bull 2X Shares	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BIB and MUU in my portfolio?

BIB and MUU have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BIB or MUU?

On fees, BIB is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BIB or MUU?

BIB is cheaper with a 0.95% expense ratio, compared with 1.01% for MUU.

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

BIB has the higher dividend yield at 0.55%, compared with 0.00% for MUU.

What is the main difference between BIB and MUU?

BIB tracks NASDAQ Biotechnology Index (200%), while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for BIB and 1.01% for MUU.