CARU vs. MUU

Last updated Jun 26, 2026

CARU (Max Auto Industry 3X Leveraged ETN) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds - CARU tracks the Prime Auto Industry Index - Benchmark TR Net (--300%) while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. At a 0.29 correlation, their price movements are largely independent. CARU charges 0.95%/yr vs 1.01%/yr for MUU.

Performance

CARU vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Max Auto Industry 3X Leveraged ETN (CARU) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CARU

• 1D: -0.50%
• 1M: -8.37%
• YTD: -31.25%
• 6M: -38.91%
• 1Y: -16.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: 31.07%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CARU vs. MUU - Yearly Performance Comparison

	2026 (YTD)
CARU Max Auto Industry 3X Leveraged ETN	-13.15%
MUU Direxion Daily MU Bull 2X Shares	14.65%

Correlation

The correlation between CARU and MUU is 0.29, 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	0.29

Return for Risk

CARU vs. MUU — Risk / Return Rank

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

CARU

CARU Risk / Return Rank: 7
CARU Sharpe Ratio Rank: 7
CARU Sortino Ratio Rank: 9
CARU Omega Ratio Rank: 9
CARU Calmar Ratio Rank: 7
CARU Martin Ratio Rank: 6

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.

CARU vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Max Auto Industry 3X Leveraged ETN (CARU) 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.

	CARU	MUU	Difference
Sharpe ratio: Return per unit of total volatility	-0.24	—	—
Sortino ratio: Return per unit of downside risk	0.13	—	—
Omega ratio: Gain probability vs. loss probability	1.02	—	—
Calmar ratio: Return relative to maximum drawdown	-0.32	—	—
Martin ratio: Return relative to average drawdown	-0.64	—	—

Drawdowns

CARU vs. MUU - Drawdown Comparison

The maximum CARU drawdown since its inception was -66.44%, which is greater than MUU's maximum drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for CARU and MUU.

Drawdown Indicators

	CARU	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-66.44%	-26.63%	-39.81%
Max Drawdown (1Y) Largest decline over 1 year	-50.87%	—	—
Current Drawdown Current decline from peak	-45.71%	-3.84%	-41.87%
Average Drawdown Average peak-to-trough decline	-35.99%	-11.62%	-24.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.77%	—	—

Volatility

Volatility by Period

	CARU	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.23%	—	—
Volatility (6M) Calculated over the trailing 6-month period	52.56%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	69.88%	307.99%	-238.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.32%	307.99%	-227.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.32%	307.99%	-227.67%

CARU vs. MUU - Expense Ratio Comparison

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

Dividends

CARU vs. MUU - Dividend Comparison

CARU has not paid dividends to shareholders, while MUU's dividend yield for the trailing twelve months is around 0.17%.

Position	TTM
CARU Max Auto Industry 3X Leveraged ETN	0.00%
MUU Direxion Daily MU Bull 2X Shares	0.17%

Frequently Asked Questions

Can I hold both CARU and MUU in my portfolio?

CARU and MUU have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CARU or MUU?

On fees, CARU 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, CARU or MUU?

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

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

MUU has the higher dividend yield at 0.17%, compared with 0.00% for CARU.

What is the main difference between CARU and MUU?

CARU tracks Prime Auto Industry Index - Benchmark TR Net (--300%), while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: Max and Direxion. Their fees differ too: 0.95% for CARU and 1.01% for MUU.