KBAB vs. MUU

Last updated Apr 1, 2026

Compare and contrast key facts about KraneShares 2x Long BABA Daily ETF (KBAB) and Direxion Daily MU Bull 2X Shares (MUU).

KBAB and MUU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KBAB is an actively managed fund by KraneShares. It was launched on Mar 7, 2025. MUU is an actively managed fund by Direxion. It was launched on Oct 9, 2024.

Performance

KBAB vs. MUU - Performance Comparison

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

KBAB vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
KBAB KraneShares 2x Long BABA Daily ETF	-31.94%	-7.77%
MUU Direxion Daily MU Bull 2X Shares	19.95%	501.58%

Returns By Period

In the year-to-date period, KBAB achieves a -31.94% return, which is significantly lower than MUU's 19.95% return.

KBAB

• 1D: 5.59%
• 1M: -26.07%
• YTD: -31.94%
• 6M: -57.04%
• 1Y: -31.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: 9.69%
• 1M: -37.04%
• YTD: 19.95%
• 6M: 205.62%
• 1Y: 790.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KBAB vs. MUU - Expense Ratio Comparison

KBAB has a 1.00% expense ratio, which is lower than MUU's 1.06% expense ratio.

MUU

Direxion Daily MU Bull 2X Shares

KBAB

KraneShares 2x Long BABA Daily ETF

Return for Risk

KBAB vs. MUU — Risk / Return Rank

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

KBAB

KBAB Risk / Return Rank: 7
KBAB Sharpe Ratio Rank: 6
KBAB Sortino Ratio Rank: 10
KBAB Omega Ratio Rank: 10
KBAB Calmar Ratio Rank: 4
KBAB Martin Ratio Rank: 4

MUU

MUU Risk / Return Rank: 98
MUU Sharpe Ratio Rank: 99
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 96
MUU Calmar Ratio Rank: 99
MUU Martin Ratio Rank: 98

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.

KBAB vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares 2x Long BABA Daily ETF (KBAB) 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.

	KBAB	MUU	Difference
Sharpe ratio Return per unit of total volatility	-0.35	6.16	-6.50
Sortino ratio Return per unit of downside risk	0.07	3.70	-3.63
Omega ratio Gain probability vs. loss probability	1.01	1.49	-0.49
Calmar ratio Return relative to maximum drawdown	-0.50	14.42	-14.92
Martin ratio Return relative to average drawdown	-1.01	40.98	-41.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KBAB vs. MUU - Sharpe Ratio Comparison

The current KBAB Sharpe Ratio is -0.35, which is lower than the MUU Sharpe Ratio of 6.16. The chart below compares the historical Sharpe Ratios of KBAB and MUU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	KBAB	MUU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.35	6.16	-6.50
Sharpe Ratio (All Time) Calculated using the full available price history	-0.39	1.52	-1.91

Correlation

The correlation between KBAB and MUU is 0.29, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

KBAB vs. MUU - Dividend Comparison

KBAB's dividend yield for the trailing twelve months is around 87.98%, more than MUU's 4.03% yield.

	TTM	2025	2024
KBAB KraneShares 2x Long BABA Daily ETF	87.98%	59.88%	0.00%
MUU Direxion Daily MU Bull 2X Shares	4.03%	4.27%	0.31%

Drawdowns

KBAB vs. MUU - Drawdown Comparison

The maximum KBAB drawdown since its inception was -63.69%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for KBAB and MUU.

Drawdown Indicators

	KBAB	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-63.69%	-75.07%	+11.38%
Max Drawdown (1Y) Largest decline over 1 year	-63.69%	-52.72%	-10.97%
Current Drawdown Current decline from peak	-61.66%	-48.14%	-13.52%
Average Drawdown Average peak-to-trough decline	-33.88%	-25.05%	-8.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.72%	18.55%	+13.17%

Volatility

KBAB vs. MUU - Volatility Comparison

The current volatility for KraneShares 2x Long BABA Daily ETF (KBAB) is 25.39%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 46.74%. This indicates that KBAB 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

	KBAB	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.39%	46.74%	-21.35%
Volatility (6M) Calculated over the trailing 6-month period	59.20%	98.12%	-38.92%
Volatility (1Y) Calculated over the trailing 1-year period	92.59%	129.66%	-37.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.97%	127.08%	-35.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.97%	127.08%	-35.11%