MEXX vs. MUU

Last updated Aug 5, 2026

MEXX (Direxion Daily MSCI Mexico Bull 3X Shares) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds from Direxion - MEXX tracks the MSCI Mexico IMI 25-50 Net Total Return USD Index (300%) while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. Over the past year, MEXX returned 90.68% vs 3107.14% for MUU. Their 0.34 correlation means their historical movements had little consistent relationship. MEXX charges 1.21%/yr vs 1.01%/yr for MUU.

Performance

MEXX vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) 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, MEXX achieves a 20.88% return, which is significantly lower than MUU's 450.36% return.

MEXX

• 1D: 1.77%
• 1M: 4.39%
• 6M: -14.98%
• YTD: 20.88%
• 1Y: 90.68%
• 3Y*: 2.34%
• 5Y*: 13.32%
• 10Y*: —
• ALL TIME*: -5.35%

MUU

• 1D: 14.92%
• 1M: -26.01%
• 6M: 169.13%
• YTD: 450.36%
• 1Y: 3,107.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 458.96%

*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)
MEXX Direxion Daily MSCI Mexico Bull 3X Shares	$356.64K	$322.08K	$550.62K
MUU Direxion Daily MU Bull 2X Shares	$1.48B	$1.48B	$2.29B

MEXX vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MEXX Direxion Daily MSCI Mexico Bull 3X Shares	20.88%	181.49%	-31.99%
MUU Direxion Daily MU Bull 2X Shares	450.36%	599.03%	-40.91%

Correlation

The correlation between MEXX and MUU is 0.30, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.30
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	0.34

Return for Risk

MEXX vs. MUU — Risk / Return Rank

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

MEXX

MEXX Risk / Return Rank: 50
MEXX Sharpe Ratio Rank: 50
MEXX Sortino Ratio Rank: 48
MEXX Omega Ratio Rank: 47
MEXX Calmar Ratio Rank: 59
MEXX Martin Ratio Rank: 46

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.

MEXX vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) 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.

	MEXX	MUU	Difference
Sharpe ratio: Return per unit of total volatility	1.40	19.49	-18.09
Sortino ratio: Return per unit of downside risk	1.97	5.08	-3.11
Omega ratio: Gain probability vs. loss probability	1.25	1.64	-0.39
Calmar ratio: Return relative to maximum drawdown	2.35	46.30	-43.95
Martin ratio: Return relative to average drawdown	5.72	149.20	-143.48

MEXX vs. MUU - Sharpe Ratio Comparison

The current MEXX Sharpe Ratio is 1.40, which is lower than the MUU Sharpe Ratio of 19.49. The chart below compares the historical Sharpe Ratios of MEXX and MUU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MEXX vs. MUU - Drawdown Comparison

The maximum MEXX drawdown since its inception was -95.58%, which is greater than MUU's maximum drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for MEXX and MUU.

Drawdown Indicators

	MEXX	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-95.58%	-75.07%	-20.51%
Max Drawdown (1Y) Largest decline over 1 year	-38.77%	-68.07%	+29.30%
Max Drawdown (3Y) Largest decline over 3 years	-74.92%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-74.92%	—	—
Current Drawdown Current decline from peak	-56.03%	-55.16%	-0.87%
Average Drawdown Average peak-to-trough decline	-65.37%	-24.49%	-40.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.90%	21.08%	-5.18%

Volatility

MEXX vs. MUU - Volatility Comparison

The current volatility for Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) is 14.88%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 63.27%. This indicates that MEXX 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

	MEXX	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.88%	63.27%	-48.39%
Volatility (6M) Calculated over the trailing 6-month period	53.04%	134.06%	-81.02%
Volatility (1Y) Calculated over the trailing 1-year period	64.99%	161.74%	-96.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.99%	146.75%	-79.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.18%	146.75%	-72.57%

MEXX vs. MUU - Expense Ratio Comparison

MEXX has a 1.21% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

MEXX vs. MUU - Dividend Comparison

MEXX's dividend yield for the trailing twelve months is around 1.39%, more than MUU's 1.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MEXX Direxion Daily MSCI Mexico Bull 3X Shares	1.39%	1.60%	5.81%	1.66%	1.33%	0.63%	0.12%	1.60%	5.61%	0.27%
MUU Direxion Daily MU Bull 2X Shares	1.23%	4.27%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MEXX and MUU in my portfolio?

MEXX and MUU have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MEXX or MUU?

MUU has higher volatility (63.27%) compared to MEXX (14.88%). In terms of maximum drawdown, MEXX dropped -95.58% vs MUU's -75.07%.

Which ETF is better, MEXX or MUU?

On 1-year performance, MUU leads with 3107.14% vs 90.68% for MEXX. On fees, MUU is cheaper at 1.01% per year. On volatility, MEXX has been the lower-risk option at 14.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MEXX or MUU?

Over the 1-year period, MUU has performed better with a 3107.14% return vs 90.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MEXX or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.21% for MEXX.

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

MEXX has the higher dividend yield at 1.39%, compared with 1.23% for MUU.

What is the main difference between MEXX and MUU?

MEXX tracks MSCI Mexico IMI 25-50 Net Total Return USD Index (300%), while MUU tracks Micron Technology, Inc. (200% Daily). Their fees differ too: 1.21% for MEXX and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (19.49 vs 1.40), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.