BOEU vs. MUU

Last updated Jun 24, 2026

BOEU (Direxion Daily BA Bull 2X Shares) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds from Direxion. BOEU is actively managed, while MUU is passively managed. At a 0.10 correlation, their price movements are largely independent. BOEU charges 0.97%/yr vs 1.01%/yr for MUU.

Performance

BOEU vs. MUU - Performance Comparison

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

Returns By Period

BOEU

• 1D: -4.01%
• 1M: -4.15%
• YTD: -10.34%
• 6M: -10.57%
• 1Y: -5.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

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

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

BOEU vs. MUU - Yearly Performance Comparison

	2026 (YTD)
BOEU Direxion Daily BA Bull 2X Shares	-10.98%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between BOEU and MUU is 0.10, 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	0.10

Return for Risk

BOEU vs. MUU — Risk / Return Rank

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

BOEU

BOEU Risk / Return Rank: 9
BOEU Sharpe Ratio Rank: 8
BOEU Sortino Ratio Rank: 10
BOEU Omega Ratio Rank: 10
BOEU Calmar Ratio Rank: 8
BOEU Martin Ratio Rank: 8

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.

BOEU vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily BA Bull 2X Shares (BOEU) 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.

	BOEU	MUU	Difference
Sharpe ratio: Return per unit of total volatility	-0.09	—	—
Sortino ratio: Return per unit of downside risk	0.34	—	—
Omega ratio: Gain probability vs. loss probability	1.04	—	—
Calmar ratio: Return relative to maximum drawdown	-0.13	—	—
Martin ratio: Return relative to average drawdown	-0.26	—	—

Drawdowns

BOEU vs. MUU - Drawdown Comparison

The maximum BOEU drawdown since its inception was -46.03%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for BOEU and MUU.

Drawdown Indicators

	BOEU	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-46.03%	-26.28%	-19.75%
Max Drawdown (1Y) Largest decline over 1 year	-46.03%	—	—
Current Drawdown Current decline from peak	-32.63%	-26.28%	-6.35%
Average Drawdown Average peak-to-trough decline	-17.54%	-10.19%	-7.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.12%	—	—

Volatility

Volatility by Period

	BOEU	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.37%	—	—
Volatility (6M) Calculated over the trailing 6-month period	47.17%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	64.35%	295.32%	-230.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.64%	295.32%	-232.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.64%	295.32%	-232.68%

BOEU vs. MUU - Expense Ratio Comparison

BOEU has a 0.97% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

BOEU vs. MUU - Dividend Comparison

BOEU's dividend yield for the trailing twelve months is around 2.09%, while MUU has not paid dividends to shareholders.

Position	TTM	2025
BOEU Direxion Daily BA Bull 2X Shares	2.09%	1.44%
MUU Direxion Daily MU Bull 2X Shares	0.00%	0.00%

Frequently Asked Questions

Can I hold both BOEU and MUU in my portfolio?

BOEU and MUU have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BOEU or MUU?

On fees, BOEU is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BOEU or MUU?

BOEU is cheaper with a 0.97% expense ratio, compared with 1.01% for MUU.

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

BOEU has the higher dividend yield at 2.09%, compared with 0.00% for MUU.

What is the main difference between BOEU and MUU?

Their fees differ too: 0.97% for BOEU and 1.01% for MUU.