MIDU vs. BRZU

Last updated Jun 13, 2026

MIDU (Direxion Daily Mid Cap Bull 3X Shares) and BRZU (Direxion Daily Brazil Bull 2X Shares) are both Leveraged Equities funds from Direxion - MIDU tracks the S&P MidCap 400 Index (300%) while BRZU tracks the MSCI Brazil 25/50 Index. Both are passively managed. Over the past 10 years, MIDU returned 12.76%/yr vs -15.10%/yr for BRZU. At a 0.44 correlation, their price movements are largely independent. MIDU charges 1.06%/yr vs 1.29%/yr for BRZU.

Performance

MIDU vs. BRZU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Mid Cap Bull 3X Shares (MIDU) and Direxion Daily Brazil Bull 2X Shares (BRZU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MIDU achieves a 41.54% return, which is significantly higher than BRZU's 14.47% return. Over the past 10 years, MIDU has outperformed BRZU with an annualized return of 12.76%, while BRZU has yielded a comparatively lower -15.10% annualized return.

MIDU

• 1D: 1.98%
• 1M: 10.51%
• YTD: 41.54%
• 6M: 35.51%
• 1Y: 66.94%
• 3Y*: 23.88%
• 5Y*: 2.68%
• 10Y*: 12.76%

BRZU

• 1D: 1.74%
• 1M: -9.87%
• YTD: 14.47%
• 6M: 11.16%
• 1Y: 53.22%
• 3Y*: 6.31%
• 5Y*: -2.87%
• 10Y*: -15.10%

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

MIDU vs. BRZU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MIDU Direxion Daily Mid Cap Bull 3X Shares	41.54%	-2.75%	20.32%	27.79%	-49.27%	72.89%	-18.31%	77.38%	-39.21%	46.86%
BRZU Direxion Daily Brazil Bull 2X Shares	14.47%	97.99%	-57.07%	55.48%	8.30%	-39.23%	-91.34%	57.02%	-37.21%	30.80%

Correlation

The correlation between MIDU and BRZU is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Apr 10, 2013	0.44

MIDU vs. BRZU - Sectors Allocation Comparison

Sectors	MIDU	BRZU
Industrials	25.0%	10.9%
Technology	15.7%	0.9%
Financial Services	14.4%	32.7%
Consumer Cyclical	10.7%	1.5%
Healthcare	8.6%	2.4%
Real Estate	7.5%	-
Energy	5.5%	18.7%
Basic Materials	4.8%	13.7%
Consumer Defensive	3.8%	4.2%
Utilities	3.1%	12.8%
Communication Services	1.0%	2.2%

Return for Risk

MIDU vs. BRZU — Risk / Return Rank

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

MIDU

MIDU Risk / Return Rank: 50
MIDU Sharpe Ratio Rank: 46
MIDU Sortino Ratio Rank: 46
MIDU Omega Ratio Rank: 42
MIDU Calmar Ratio Rank: 59
MIDU Martin Ratio Rank: 56

BRZU

BRZU Risk / Return Rank: 34
BRZU Sharpe Ratio Rank: 33
BRZU Sortino Ratio Rank: 33
BRZU Omega Ratio Rank: 34
BRZU Calmar Ratio Rank: 34
BRZU Martin Ratio Rank: 34

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.

MIDU vs. BRZU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Mid Cap Bull 3X Shares (MIDU) and Direxion Daily Brazil Bull 2X Shares (BRZU). 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.

	MIDU	BRZU	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.07	+0.35
Sortino ratio: Return per unit of downside risk	2.03	1.59	+0.44
Omega ratio: Gain probability vs. loss probability	1.24	1.20	+0.04
Calmar ratio: Return relative to maximum drawdown	2.61	1.49	+1.12
Martin ratio: Return relative to average drawdown	8.65	4.43	+4.22

MIDU vs. BRZU - Sharpe Ratio Comparison

The current MIDU Sharpe Ratio is 1.42, which is higher than the BRZU Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of MIDU and BRZU, 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

MIDU vs. BRZU - Drawdown Comparison

The maximum MIDU drawdown since its inception was -86.26%, smaller than the maximum BRZU drawdown of -99.71%. Use the drawdown chart below to compare losses from any high point for MIDU and BRZU.

Drawdown Indicators

	MIDU	BRZU	Difference
Max Drawdown Largest peak-to-trough decline	-86.26%	-99.71%	+13.45%
Max Drawdown (1Y) Largest decline over 1 year	-25.80%	-35.97%	+10.17%
Max Drawdown (3Y) Largest decline over 3 years	-60.41%	-58.25%	-2.16%
Max Drawdown (5Y) Largest decline over 5 years	-64.14%	-65.00%	+0.86%
Max Drawdown (10Y) Largest decline over 10 years	-86.26%	-98.11%	+11.85%
Current Drawdown Current decline from peak	-1.48%	-99.18%	+97.70%
Average Drawdown Average peak-to-trough decline	-22.41%	-89.55%	+67.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.77%	12.06%	-4.29%

Volatility

MIDU vs. BRZU - Volatility Comparison

Direxion Daily Mid Cap Bull 3X Shares (MIDU) and Direxion Daily Brazil Bull 2X Shares (BRZU) have volatilities of 15.07% and 14.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIDU	BRZU	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.07%	14.76%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	34.90%	39.95%	-5.05%
Volatility (1Y) Calculated over the trailing 1-year period	47.43%	50.10%	-2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.59%	55.45%	+4.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.65%	82.91%	-19.26%

MIDU vs. BRZU - Expense Ratio Comparison

MIDU has a 1.06% expense ratio, which is lower than BRZU's 1.29% expense ratio.

Dividends

MIDU vs. BRZU - Dividend Comparison

MIDU's dividend yield for the trailing twelve months is around 0.63%, less than BRZU's 2.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BRZU Direxion Daily Brazil Bull 2X Shares	2.33%	2.39%	8.73%	3.24%	4.70%	6.29%	0.78%	0.95%	1.04%	0.74%	0.00%
MIDU Direxion Daily Mid Cap Bull 3X Shares	0.63%	1.04%	1.10%	1.43%	0.11%	0.00%	0.06%	0.71%	0.70%	2.67%	1.89%

Frequently Asked Questions

Can I hold both MIDU and BRZU in my portfolio?

MIDU and BRZU have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MIDU or BRZU?

MIDU has higher volatility (15.07%) compared to BRZU (14.76%). In terms of maximum drawdown, MIDU dropped -86.26% vs BRZU's -99.71%.

Which ETF is better, MIDU or BRZU?

On 10-year performance, MIDU leads with 12.76% vs -15.10% for BRZU. On fees, MIDU is cheaper at 1.06% per year. On volatility, BRZU has been the lower-risk option at 14.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MIDU or BRZU?

Over the 10-year period, MIDU has performed better with a 12.76% return vs -15.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MIDU or BRZU?

MIDU is cheaper with a 1.06% expense ratio, compared with 1.29% for BRZU.

Which ETF pays a higher dividend yield, MIDU or BRZU?

BRZU has the higher dividend yield at 2.33%, compared with 0.63% for MIDU.

What is the main difference between MIDU and BRZU?

MIDU tracks S&P MidCap 400 Index (300%), while BRZU tracks MSCI Brazil 25/50 Index. Their fees differ too: 1.06% for MIDU and 1.29% for BRZU.

Which has better risk-adjusted returns?

MIDU currently has the higher Sharpe Ratio (1.42 vs 1.07), 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.