LLYX vs. MUU

Last updated Jun 24, 2026

LLYX (Defiance Daily Target 2X Long LLY ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. LLYX is actively managed, while MUU is passively managed. At a correlation of -0.70, they often move in opposite directions. LLYX charges 1.32%/yr vs 1.01%/yr for MUU.

Performance

LLYX vs. MUU - Performance Comparison

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

Returns By Period

LLYX

• 1D: 0.89%
• 1M: 6.57%
• YTD: -6.47%
• 6M: -5.94%
• 1Y: 58.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

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

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

LLYX vs. MUU - Yearly Performance Comparison

	2026 (YTD)
LLYX Defiance Daily Target 2X Long LLY ETF	-3.95%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between LLYX and MUU is -0.70, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

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

Return for Risk

LLYX vs. MUU — Risk / Return Rank

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

LLYX

LLYX Risk / Return Rank: 27
LLYX Sharpe Ratio Rank: 23
LLYX Sortino Ratio Rank: 29
LLYX Omega Ratio Rank: 31
LLYX Calmar Ratio Rank: 27
LLYX Martin Ratio Rank: 23

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.

LLYX vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long LLY ETF (LLYX) 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.

	LLYX	MUU	Difference
Sharpe ratio: Return per unit of total volatility	0.78	—	—
Sortino ratio: Return per unit of downside risk	1.48	—	—
Omega ratio: Gain probability vs. loss probability	1.20	—	—
Calmar ratio: Return relative to maximum drawdown	1.24	—	—
Martin ratio: Return relative to average drawdown	2.76	—	—

Drawdowns

LLYX vs. MUU - Drawdown Comparison

The maximum LLYX drawdown since its inception was -67.98%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for LLYX and MUU.

Drawdown Indicators

	LLYX	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-67.98%	-26.28%	-41.70%
Max Drawdown (1Y) Largest decline over 1 year	-47.36%	—	—
Current Drawdown Current decline from peak	-19.07%	-26.28%	+7.21%
Average Drawdown Average peak-to-trough decline	-33.04%	-10.19%	-22.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.22%	—	—

Volatility

Volatility by Period

	LLYX	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.45%	—	—
Volatility (6M) Calculated over the trailing 6-month period	52.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	74.74%	295.32%	-220.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.58%	295.32%	-219.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.58%	295.32%	-219.74%

LLYX vs. MUU - Expense Ratio Comparison

LLYX has a 1.32% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

LLYX vs. MUU - Dividend Comparison

LLYX's dividend yield for the trailing twelve months is around 2.95%, while MUU has not paid dividends to shareholders.

Position	TTM	2025
LLYX Defiance Daily Target 2X Long LLY ETF	2.95%	2.76%
MUU Direxion Daily MU Bull 2X Shares	0.00%	0.00%

Frequently Asked Questions

Can I hold both LLYX and MUU in my portfolio?

LLYX 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, LLYX 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, LLYX or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.32% for LLYX.

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

LLYX has the higher dividend yield at 2.95%, compared with 0.00% for MUU.

What is the main difference between LLYX and MUU?

They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.32% for LLYX and 1.01% for MUU.