KLAG vs. MUU

Last updated Aug 1, 2026

KLAG (Leverage Shares 2X Long KLAC Daily ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds - KLAG tracks the KLA Corporation (KLAC) while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. Their 0.65 correlation means they have sometimes moved together and sometimes differently. KLAG charges 0.75%/yr vs 1.01%/yr for MUU.

Performance

KLAG vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long KLAC Daily ETF (KLAG) 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, KLAG achieves a 58.32% return, which is significantly lower than MUU's 372.51% return.

KLAG

• 1D: 2.71%
• 1M: -42.24%
• 6M: 22.97%
• YTD: 58.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

MUU

• 1D: -12.24%
• 1M: -36.47%
• 6M: 134.93%
• YTD: 372.51%
• 1Y: 2,805.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 419.04%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KLAG Leverage Shares 2X Long KLAC Daily ETF	$2.72M	$5.08M	$4.54M
MUU Direxion Daily MU Bull 2X Shares	$1.51B	$1.57B	$2.27B

KLAG vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
KLAG Leverage Shares 2X Long KLAC Daily ETF	58.32%	-0.75%
MUU Direxion Daily MU Bull 2X Shares	372.51%	56.64%

Correlation

The correlation between KLAG and MUU is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.65

Return for Risk

KLAG vs. MUU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KLAG

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

MUU

MUU Risk / Return Rank: 98
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 96
MUU Calmar Ratio Rank: 99
MUU Martin Ratio Rank: 99

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KLAG vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long KLAC Daily ETF (KLAG) 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.

	KLAG	MUU	Difference
Sharpe ratio: Return per unit of total volatility	—	16.13	—
Sortino ratio: Return per unit of downside risk	—	4.86	—
Omega ratio: Gain probability vs. loss probability	—	1.61	—
Calmar ratio: Return relative to maximum drawdown	—	38.27	—
Martin ratio: Return relative to average drawdown	—	127.21	—

Drawdowns

KLAG vs. MUU - Drawdown Comparison

The maximum KLAG drawdown since its inception was -70.99%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for KLAG and MUU.

Drawdown Indicators

	KLAG	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-70.99%	-75.07%	+4.08%
Max Drawdown (1Y) Largest decline over 1 year	—	-68.07%	—
Current Drawdown Current decline from peak	-66.43%	-61.50%	-4.93%
Average Drawdown Average peak-to-trough decline	-19.57%	-24.34%	+4.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	20.44%	—

Volatility

Volatility by Period

	KLAG	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	62.16%	—
Volatility (6M) Calculated over the trailing 6-month period	—	134.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	138.36%	161.94%	-23.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	138.36%	146.71%	-8.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	138.36%	146.71%	-8.35%

KLAG vs. MUU - Expense Ratio Comparison

KLAG has a 0.75% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

KLAG vs. MUU - Dividend Comparison

KLAG has not paid dividends to shareholders, while MUU's dividend yield for the trailing twelve months is around 1.44%.

Position	TTM	2025	2024
KLAG Leverage Shares 2X Long KLAC Daily ETF	0.00%	0.00%	0.00%
MUU Direxion Daily MU Bull 2X Shares	1.44%	4.27%	0.31%

Frequently Asked Questions

Can I hold both KLAG and MUU in my portfolio?

KLAG and MUU have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KLAG or MUU?

On fees, KLAG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KLAG or MUU?

KLAG is cheaper with a 0.75% expense ratio, compared with 1.01% for MUU.

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

MUU has the higher dividend yield at 1.44%, compared with 0.00% for KLAG.

What is the main difference between KLAG and MUU?

KLAG tracks KLA Corporation (KLAC), while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for KLAG and 1.01% for MUU.