FCOM vs. MUU

Last updated Jul 15, 2026

FCOM (Fidelity MSCI Communication Services Index ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both exchange-traded funds - FCOM is a Large Cap Growth Equities fund tracking the MSCI USA IMI Communication Services 25/50 Index, while MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily). Both are passively managed. Over the past year, FCOM returned 12.61% vs 3397.63% for MUU. At a 0.30 correlation, their price movements are largely independent. FCOM charges 0.08%/yr vs 1.01%/yr for MUU.

Performance

FCOM vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Communication Services Index ETF (FCOM) 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, FCOM achieves a -1.13% return, which is significantly lower than MUU's 640.02% return.

FCOM

• 1D: 0.15%
• 1M: 2.11%
• 6M: -1.68%
• YTD: -1.13%
• 1Y: 12.61%
• 3Y*: 21.34%
• 5Y*: 6.93%
• 10Y*: 10.76%

MUU

• 1D: 9.50%
• 1M: -10.60%
• 6M: 441.55%
• YTD: 640.02%
• 1Y: 3,397.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FCOM vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FCOM Fidelity MSCI Communication Services Index ETF	-1.13%	26.06%	6.60%
MUU Direxion Daily MU Bull 2X Shares	640.02%	599.03%	-40.91%

Correlation

The correlation between FCOM and MUU is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	0.30

Return for Risk

FCOM vs. MUU — Risk / Return Rank

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

FCOM

FCOM Risk / Return Rank: 26
FCOM Sharpe Ratio Rank: 26
FCOM Sortino Ratio Rank: 27
FCOM Omega Ratio Rank: 25
FCOM Calmar Ratio Rank: 24
FCOM Martin Ratio Rank: 28

MUU

MUU Risk / Return Rank: 99
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 97
MUU Calmar Ratio Rank: 100
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.

FCOM vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Communication Services Index ETF (FCOM) 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.

	FCOM	MUU	Difference
Sharpe ratio: Return per unit of total volatility	0.79	29.47	-28.68
Sortino ratio: Return per unit of downside risk	1.23	5.90	-4.67
Omega ratio: Gain probability vs. loss probability	1.15	1.73	-0.59
Calmar ratio: Return relative to maximum drawdown	0.94	81.19	-80.25
Martin ratio: Return relative to average drawdown	3.05	269.76	-266.71

FCOM vs. MUU - Sharpe Ratio Comparison

The current FCOM Sharpe Ratio is 0.79, which is lower than the MUU Sharpe Ratio of 29.47. The chart below compares the historical Sharpe Ratios of FCOM and MUU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FCOM vs. MUU - Drawdown Comparison

The maximum FCOM drawdown since its inception was -46.76%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for FCOM and MUU.

Drawdown Indicators

	FCOM	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-46.76%	-75.07%	+28.31%
Max Drawdown (1Y) Largest decline over 1 year	-13.48%	-52.72%	+39.24%
Max Drawdown (3Y) Largest decline over 3 years	-21.16%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-46.76%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.76%	—	—
Current Drawdown Current decline from peak	-4.43%	-30.27%	+25.84%
Average Drawdown Average peak-to-trough decline	-8.64%	-23.44%	+14.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.15%	16.68%	-12.53%

Volatility

FCOM vs. MUU - Volatility Comparison

The current volatility for Fidelity MSCI Communication Services Index ETF (FCOM) is 6.32%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 67.96%. This indicates that FCOM experiences smaller price fluctuations and is considered to be less risky than MUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCOM	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.32%	67.96%	-61.64%
Volatility (6M) Calculated over the trailing 6-month period	12.56%	115.39%	-102.83%
Volatility (1Y) Calculated over the trailing 1-year period	16.11%	145.68%	-129.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.33%	138.08%	-116.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.01%	138.08%	-117.07%

FCOM vs. MUU - Expense Ratio Comparison

FCOM has a 0.08% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

FCOM vs. MUU - Dividend Comparison

FCOM's dividend yield for the trailing twelve months is around 0.97%, more than MUU's 0.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCOM Fidelity MSCI Communication Services Index ETF	0.97%	0.88%	0.87%	0.77%	1.04%	0.90%	0.68%	0.86%	2.78%	11.70%	2.27%	2.92%
MUU Direxion Daily MU Bull 2X Shares	0.64%	4.27%	0.31%	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 FCOM and MUU in my portfolio?

FCOM and MUU have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCOM or MUU?

MUU has higher volatility (67.96%) compared to FCOM (6.32%). In terms of maximum drawdown, FCOM dropped -46.76% vs MUU's -75.07%.

Which ETF is better, FCOM or MUU?

On 1-year performance, MUU leads with 3397.63% vs 12.61% for FCOM. On fees, FCOM is cheaper at 0.08% per year. On volatility, FCOM has been the lower-risk option at 6.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCOM or MUU?

Over the 1-year period, MUU has performed better with a 3397.63% return vs 12.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCOM or MUU?

FCOM is cheaper with a 0.08% expense ratio, compared with 1.01% for MUU.

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

FCOM has the higher dividend yield at 0.97%, compared with 0.64% for MUU.

What is the main difference between FCOM and MUU?

FCOM is categorized as Large Cap Growth Equities, while MUU is Leveraged Equities. FCOM tracks MSCI USA IMI Communication Services 25/50 Index, while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: Fidelity and Direxion. Their fees differ too: 0.08% for FCOM and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (29.47 vs 0.79), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.