EURL vs. MUU

Last updated Jun 24, 2026

EURL (Direxion Daily FTSE Europe Bull 3x Shares) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds from Direxion - EURL tracks the FTSE Developed Europe Index (300%) while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. A 0.70 correlation means they provide meaningful diversification when combined. EURL charges 1.07%/yr vs 1.01%/yr for MUU.

Performance

EURL vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily FTSE Europe Bull 3x Shares (EURL) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EURL

• 1D: -4.78%
• 1M: -3.51%
• YTD: 7.25%
• 6M: 6.76%
• 1Y: 40.13%
• 3Y*: 31.43%
• 5Y*: 5.36%
• 10Y*: 11.85%

MUU

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

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

EURL vs. MUU - Yearly Performance Comparison

	2026 (YTD)
EURL Direxion Daily FTSE Europe Bull 3x Shares	-6.48%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between EURL and MUU is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 16, 2026	0.70

Return for Risk

EURL vs. MUU — Risk / Return Rank

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

EURL

EURL Risk / Return Rank: 26
EURL Sharpe Ratio Rank: 25
EURL Sortino Ratio Rank: 27
EURL Omega Ratio Rank: 26
EURL Calmar Ratio Rank: 26
EURL Martin Ratio Rank: 29

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.

EURL vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily FTSE Europe Bull 3x Shares (EURL) 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.

	EURL	MUU	Difference
Sharpe ratio: Return per unit of total volatility	0.84	—	—
Sortino ratio: Return per unit of downside risk	1.41	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	1.22	—	—
Martin ratio: Return relative to average drawdown	3.80	—	—

Drawdowns

EURL vs. MUU - Drawdown Comparison

The maximum EURL drawdown since its inception was -84.65%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for EURL and MUU.

Drawdown Indicators

	EURL	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-84.65%	-26.28%	-58.37%
Max Drawdown (1Y) Largest decline over 1 year	-33.05%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-38.81%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-75.24%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-84.65%	—	—
Current Drawdown Current decline from peak	-13.96%	-26.28%	+12.32%
Average Drawdown Average peak-to-trough decline	-36.86%	-10.19%	-26.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.59%	—	—

Volatility

Volatility by Period

	EURL	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.92%	—	—
Volatility (6M) Calculated over the trailing 6-month period	40.62%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	47.94%	295.32%	-247.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.51%	295.32%	-241.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.72%	295.32%	-240.60%

EURL vs. MUU - Expense Ratio Comparison

EURL has a 1.07% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

EURL vs. MUU - Dividend Comparison

EURL's dividend yield for the trailing twelve months is around 1.46%, while MUU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EURL Direxion Daily FTSE Europe Bull 3x Shares	1.46%	1.50%	3.51%	2.50%	1.80%	0.33%	0.41%	1.17%	3.07%	0.38%
MUU Direxion Daily MU Bull 2X Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EURL and MUU in my portfolio?

EURL and MUU have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EURL 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, EURL or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.07% for EURL.

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

EURL has the higher dividend yield at 1.46%, compared with 0.00% for MUU.

What is the main difference between EURL and MUU?

EURL tracks FTSE Developed Europe Index (300%), while MUU tracks Micron Technology, Inc. (200% Daily). Their fees differ too: 1.07% for EURL and 1.01% for MUU.