LMNX vs. MUU

Last updated Jun 24, 2026

LMNX (Defiance Daily Target 2X Long LMND ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. LMNX is actively managed, while MUU is passively managed. At a 0.10 correlation, their price movements are largely independent. LMNX charges 1.31%/yr vs 1.01%/yr for MUU.

Performance

LMNX vs. MUU - Performance Comparison

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

Returns By Period

LMNX

• 1D: 1.73%
• 1M: 0.16%
• YTD: -55.70%
• 6M: -64.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

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

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

LMNX vs. MUU - Yearly Performance Comparison

	2026 (YTD)
LMNX Defiance Daily Target 2X Long LMND ETF	-10.11%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between LMNX and MUU is 0.10, 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 Jun 16, 2026	0.10

Return for Risk

LMNX vs. MUU - Risk-Adjusted Trends Comparison

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

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

Drawdowns

LMNX vs. MUU - Drawdown Comparison

The maximum LMNX drawdown since its inception was -79.62%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for LMNX and MUU.

Drawdown Indicators

	LMNX	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-79.62%	-26.28%	-53.34%
Current Drawdown Current decline from peak	-74.61%	-26.28%	-48.33%
Average Drawdown Average peak-to-trough decline	-43.60%	-10.19%	-33.41%

Volatility

Volatility by Period

	LMNX	MUU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	169.75%	295.32%	-125.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	169.75%	295.32%	-125.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	169.75%	295.32%	-125.57%

LMNX vs. MUU - Expense Ratio Comparison

LMNX has a 1.31% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

LMNX vs. MUU - Dividend Comparison

Neither LMNX nor MUU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LMNX and MUU in my portfolio?

LMNX and MUU have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LMNX 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, LMNX or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.31% for LMNX.

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

LMNX and MUU have nearly identical dividend yields, around 0.00%.

What is the main difference between LMNX and MUU?

They also come from different issuers: Defiance ETFs and Direxion. Their fees differ too: 1.31% for LMNX and 1.01% for MUU.