HLXX vs. MUU

Last updated Jun 5, 2026

HLXX (Tradr 2X Long HL Daily ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. HLXX is passively managed, while MUU is actively managed. At a 0.47 correlation, their price movements are largely independent. HLXX charges 1.49%/yr vs 1.06%/yr for MUU.

Performance

HLXX vs. MUU - Performance Comparison

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

Returns By Period

HLXX

• 1D: 0.84%
• 1M: -8.53%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: -15.35%
• 1M: 121.05%
• YTD: 798.37%
• 6M: 1,279.44%
• 1Y: 5,396.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HLXX vs. MUU - Yearly Performance Comparison

	2026 (YTD)
HLXX Tradr 2X Long HL Daily ETF	-21.23%
MUU Direxion Daily MU Bull 2X Shares	433.22%

Correlation

The correlation between HLXX and MUU is 0.47, 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 Mar 25, 2026	0.47

Return for Risk

HLXX vs. MUU — Risk / Return Rank

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

MUU

MUU Risk / Return Rank: 99
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 98
MUU Omega Ratio Rank: 97
MUU Calmar Ratio Rank: 100
MUU Martin Ratio Rank: 100

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.

HLXX vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long HL Daily ETF (HLXX) 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.

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

Sharpe Ratios by Period

	HLXX	MUU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	41.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.56	5.91	-6.47

Drawdowns

HLXX vs. MUU - Drawdown Comparison

The maximum HLXX drawdown since its inception was -40.87%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for HLXX and MUU.

Drawdown Indicators

	HLXX	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-40.87%	-75.07%	+34.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-52.72%	—
Current Drawdown Current decline from peak	-38.78%	-15.35%	-23.43%
Average Drawdown Average peak-to-trough decline	-15.97%	-23.42%	+7.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	15.54%	—

Volatility

Volatility by Period

	HLXX	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	56.84%	—
Volatility (6M) Calculated over the trailing 6-month period	—	106.70%	—
Volatility (1Y) Calculated over the trailing 1-year period	125.85%	132.77%	-6.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	125.85%	134.14%	-8.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	125.85%	134.14%	-8.29%

HLXX vs. MUU - Expense Ratio Comparison

HLXX has a 1.49% expense ratio, which is higher than MUU's 1.06% expense ratio.

Dividends

HLXX vs. MUU - Dividend Comparison

HLXX has not paid dividends to shareholders, while MUU's dividend yield for the trailing twelve months is around 0.54%.

Position	TTM	2025	2024
HLXX Tradr 2X Long HL Daily ETF	0.00%	0.00%	0.00%
MUU Direxion Daily MU Bull 2X Shares	0.54%	4.27%	0.31%

Frequently Asked Questions

Can I hold both HLXX and MUU in my portfolio?

HLXX and MUU have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HLXX or MUU?

On fees, MUU is cheaper at 1.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HLXX or MUU?

MUU is cheaper with a 1.06% expense ratio, compared with 1.49% for HLXX.

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

MUU has the higher dividend yield at 0.54%, compared with 0.00% for HLXX.

What is the main difference between HLXX and MUU?

They also come from different issuers: Tradr and Direxion. Their fees differ too: 1.49% for HLXX and 1.06% for MUU.