DHLX vs. MUU

Last updated Jul 18, 2026

DHLX (Diamond Hill Large Cap Concentrated ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both exchange-traded funds - DHLX is a Large Cap Value Equities fund tracking the Actively Managed, while MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily). Both are passively managed. At a correlation of -0.09, they often move in opposite directions. DHLX charges 0.55%/yr vs 1.01%/yr for MUU.

Performance

DHLX vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Diamond Hill Large Cap Concentrated ETF (DHLX) 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, DHLX achieves a 2.23% return, which is significantly lower than MUU's 443.78% return.

DHLX

• 1D: -0.63%
• 1M: 4.43%
• 6M: 2.02%
• YTD: 2.23%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: -0.98%
• 1M: -40.95%
• 6M: 248.19%
• YTD: 443.78%
• 1Y: 2,727.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DHLX vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
DHLX Diamond Hill Large Cap Concentrated ETF	2.23%	1.22%
MUU Direxion Daily MU Bull 2X Shares	443.78%	187.81%

Correlation

The correlation between DHLX and MUU is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 29, 2025	-0.09

Return for Risk

DHLX vs. MUU — Risk / Return Rank

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

DHLX

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

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) 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.

DHLX vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Diamond Hill Large Cap Concentrated ETF (DHLX) 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.

	DHLX	MUU	Difference
Sharpe ratio: Return per unit of total volatility	—	18.17	—
Sortino ratio: Return per unit of downside risk	—	5.06	—
Omega ratio: Gain probability vs. loss probability	—	1.64	—
Calmar ratio: Return relative to maximum drawdown	—	49.66	—
Martin ratio: Return relative to average drawdown	—	157.16	—

Drawdowns

DHLX vs. MUU - Drawdown Comparison

The maximum DHLX drawdown since its inception was -8.40%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for DHLX and MUU.

Drawdown Indicators

	DHLX	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-8.40%	-75.07%	+66.67%
Max Drawdown (1Y) Largest decline over 1 year	—	-55.69%	—
Current Drawdown Current decline from peak	-1.77%	-55.69%	+53.92%
Average Drawdown Average peak-to-trough decline	-2.65%	-23.69%	+21.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	17.56%	—

Volatility

Volatility by Period

	DHLX	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	61.71%	—
Volatility (6M) Calculated over the trailing 6-month period	—	125.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	11.68%	152.35%	-140.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.68%	142.17%	-130.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.68%	142.17%	-130.49%

DHLX vs. MUU - Expense Ratio Comparison

DHLX has a 0.55% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

DHLX vs. MUU - Dividend Comparison

DHLX's dividend yield for the trailing twelve months is around 0.65%, less than MUU's 1.25% yield.

Position	TTM	2025	2024
DHLX Diamond Hill Large Cap Concentrated ETF	0.65%	0.15%	0.00%
MUU Direxion Daily MU Bull 2X Shares	1.25%	4.27%	0.31%

Frequently Asked Questions

Can I hold both DHLX and MUU in my portfolio?

DHLX and MUU have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DHLX or MUU?

On fees, DHLX is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DHLX or MUU?

DHLX is cheaper with a 0.55% expense ratio, compared with 1.01% for MUU.

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

MUU has the higher dividend yield at 1.25%, compared with 0.65% for DHLX.

What is the main difference between DHLX and MUU?

DHLX is categorized as Large Cap Value Equities, while MUU is Leveraged Equities. DHLX tracks Actively Managed, while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: Diamond Hill and Direxion. Their fees differ too: 0.55% for DHLX and 1.01% for MUU.