DKNX vs. MUU

Last updated Jun 26, 2026

DKNX (Defiance Daily Target 2X Long DKNG ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. DKNX is actively managed, while MUU is passively managed. At a correlation of -0.29, they often move in opposite directions. DKNX charges 1.29%/yr vs 1.01%/yr for MUU.

Performance

DKNX vs. MUU - Performance Comparison

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

Returns By Period

DKNX

• 1D: -11.57%
• 1M: -10.92%
• YTD: -65.05%
• 6M: -65.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

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

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

DKNX vs. MUU - Yearly Performance Comparison

	2026 (YTD)
DKNX Defiance Daily Target 2X Long DKNG ETF	-36.42%
MUU Direxion Daily MU Bull 2X Shares	14.65%

Correlation

The correlation between DKNX and MUU is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 16, 2026	-0.29

Return for Risk

DKNX vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long DKNG ETF (DKNX) 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.

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

Drawdowns

DKNX vs. MUU - Drawdown Comparison

The maximum DKNX drawdown since its inception was -86.10%, which is greater than MUU's maximum drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for DKNX and MUU.

Drawdown Indicators

	DKNX	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-86.10%	-26.63%	-59.47%
Current Drawdown Current decline from peak	-84.58%	-3.84%	-80.74%
Average Drawdown Average peak-to-trough decline	-59.28%	-11.62%	-47.66%

Volatility

Volatility by Period

	DKNX	MUU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	99.99%	307.99%	-208.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	99.99%	307.99%	-208.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	99.99%	307.99%	-208.00%

DKNX vs. MUU - Expense Ratio Comparison

DKNX has a 1.29% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

DKNX vs. MUU - Dividend Comparison

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

Position	TTM
DKNX Defiance Daily Target 2X Long DKNG ETF	0.00%
MUU Direxion Daily MU Bull 2X Shares	0.17%

Frequently Asked Questions

Can I hold both DKNX and MUU in my portfolio?

DKNX 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, DKNX or MUU?

On fees, MUU is cheaper at 1.01% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DKNX or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.29% for DKNX.

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

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

What is the main difference between DKNX and MUU?

They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.29% for DKNX and 1.01% for MUU.