MIDU vs. BITX
MIDU (Direxion Daily Mid Cap Bull 3X Shares) and BITX (2x Bitcoin Strategy ETF) are both exchange-traded funds - MIDU is a Leveraged Equities fund tracking the S&P MidCap 400 Index (300%), while BITX is a Cryptocurrency fund tracking the S&P CME Bitcoin Futures Daily Roll Index (200%). Both are passively managed. Over the past year, MIDU returned 55.79% vs -73.99% for BITX. At a 0.36 correlation, their price movements are largely independent. MIDU charges 1.06%/yr vs 2.38%/yr for BITX.
Performance
MIDU vs. BITX - Performance Comparison
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Returns By Period
In the year-to-date period, MIDU achieves a 31.63% return, which is significantly higher than BITX's -55.64% return.
MIDU
- 1D
- 0.47%
- 1M
- -0.83%
- YTD
- 31.63%
- 6M
- 31.16%
- 1Y
- 55.79%
- 3Y*
- 22.83%
- 5Y*
- 1.62%
- 10Y*
- 11.46%
BITX
- 1D
- 9.87%
- 1M
- -39.25%
- YTD
- -55.64%
- 6M
- -59.53%
- 1Y
- -73.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MIDU vs. BITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MIDU Direxion Daily Mid Cap Bull 3X Shares | 31.63% | -2.75% | 20.32% | 21.92% |
BITX 2x Bitcoin Strategy ETF | -55.64% | -38.71% | 163.41% | 46.18% |
Correlation
The correlation between MIDU and BITX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023 | 0.36 |
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Return for Risk
MIDU vs. BITX — Risk / Return Rank
MIDU
BITX
MIDU vs. BITX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Mid Cap Bull 3X Shares (MIDU) and 2x Bitcoin Strategy ETF (BITX). 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.
| MIDU | BITX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.05 | ||
| Sortino ratioReturn per unit of downside risk | +3.27 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.84 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | -0.90 | +3.08 |
| Martin ratioReturn relative to average drawdown | 7.20 | -1.46 | +8.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MIDU | BITX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | -0.85 | +2.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.02 | +0.33 |
Drawdowns
MIDU vs. BITX - Drawdown Comparison
The maximum MIDU drawdown since its inception was -86.26%, roughly equal to the maximum BITX drawdown of -82.16%. Use the drawdown chart below to compare losses from any high point for MIDU and BITX.
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Drawdown Indicators
| MIDU | BITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.26% | -82.16% | -4.10% |
Max Drawdown (1Y)Largest decline over 1 year | -25.80% | -82.16% | +56.36% |
Max Drawdown (3Y)Largest decline over 3 years | -60.41% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -64.14% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -86.26% | — | — |
Current DrawdownCurrent decline from peak | -8.37% | -80.39% | +72.02% |
Average DrawdownAverage peak-to-trough decline | -22.43% | -31.90% | +9.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.77% | 50.80% | -43.03% |
Volatility
MIDU vs. BITX - Volatility Comparison
The current volatility for Direxion Daily Mid Cap Bull 3X Shares (MIDU) is 12.33%, while 2x Bitcoin Strategy ETF (BITX) has a volatility of 23.70%. This indicates that MIDU experiences smaller price fluctuations and is considered to be less risky than BITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIDU | BITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.33% | 23.70% | -11.37% |
Volatility (6M)Calculated over the trailing 6-month period | 34.19% | 69.45% | -35.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.69% | 87.88% | -41.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.49% | 98.49% | -39.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.63% | 98.49% | -34.86% |
MIDU vs. BITX - Expense Ratio Comparison
MIDU has a 1.06% expense ratio, which is lower than BITX's 2.38% expense ratio.
Dividends
MIDU vs. BITX - Dividend Comparison
MIDU's dividend yield for the trailing twelve months is around 0.67%, less than BITX's 35.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BITX 2x Bitcoin Strategy ETF | 35.74% | 21.69% | 10.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MIDU Direxion Daily Mid Cap Bull 3X Shares | 0.67% | 1.04% | 1.10% | 1.43% | 0.11% | 0.00% | 0.06% | 0.71% | 0.70% | 2.67% | 1.89% |
Frequently Asked Questions
MIDU and BITX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITX has higher volatility (23.70%) compared to MIDU (12.33%). In terms of maximum drawdown, MIDU dropped -86.26% vs BITX's -82.16%.
On 1-year performance, MIDU leads with 55.79% vs -73.99% for BITX. On fees, MIDU is cheaper at 1.06% per year. On volatility, MIDU has been the lower-risk option at 12.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MIDU has performed better with a 55.79% return vs -73.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MIDU is cheaper with a 1.06% expense ratio, compared with 2.38% for BITX.
BITX has the higher dividend yield at 35.74%, compared with 0.67% for MIDU.
MIDU is categorized as Leveraged Equities, while BITX is Cryptocurrency. MIDU tracks S&P MidCap 400 Index (300%), while BITX tracks S&P CME Bitcoin Futures Daily Roll Index (200%). They also come from different issuers: Direxion and Volatility Shares. Their fees differ too: 1.06% for MIDU and 2.38% for BITX.
MIDU currently has the higher Sharpe Ratio (1.20 vs -0.85), 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.
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