MIDU vs. KRE

Last updated Aug 4, 2026

MIDU (Direxion Daily Mid Cap Bull 3X Shares) and KRE (SPDR S&P Regional Banking ETF) are both exchange-traded funds - MIDU is a Leveraged Equities fund tracking the S&P MidCap 400 Index (300%), while KRE is a Financials Equities fund tracking the S&P Regional Banks Select Industry Index. Both are passively managed. Over the past 10 years, MIDU returned 10.97%/yr vs 9.15%/yr for KRE. Their 0.77 correlation means they have sometimes moved together and sometimes differently. MIDU charges 1.06%/yr vs 0.35%/yr for KRE.

Performance

MIDU vs. KRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Mid Cap Bull 3X Shares (MIDU) and SPDR S&P Regional Banking ETF (KRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MIDU achieves a 40.40% return, which is significantly higher than KRE's 20.29% return. Over the past 10 years, MIDU has outperformed KRE with an annualized return of 10.97%, while KRE has yielded a comparatively lower 9.15% annualized return.

MIDU

• 1D: 3.38%
• 1M: -0.99%
• 6M: 23.24%
• YTD: 40.40%
• 1Y: 60.73%
• 3Y*: 19.76%
• 5Y*: 4.39%
• 10Y*: 10.97%
• ALL TIME*: 22.01%

KRE

• 1D: 1.31%
• 1M: 2.72%
• 6M: 11.31%
• YTD: 20.29%
• 1Y: 34.19%
• 3Y*: 19.96%
• 5Y*: 7.18%
• 10Y*: 9.15%
• ALL TIME*: 4.89%

*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)
KRE SPDR S&P Regional Banking ETF	$957.61M	$982.77M	$1.06B
MIDU Direxion Daily Mid Cap Bull 3X Shares	$1.17M	$1.08M	$1.53M

MIDU vs. KRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MIDU Direxion Daily Mid Cap Bull 3X Shares	40.40%	-2.75%	20.32%	27.79%	-49.27%	72.89%	-18.31%	77.38%	-39.21%	46.86%
KRE SPDR S&P Regional Banking ETF	20.29%	10.21%	18.58%	-7.61%	-15.08%	39.29%	-7.43%	27.44%	-18.81%	7.49%

Correlation

The correlation between MIDU and KRE is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.66
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (5Y) Shows whether the relationship held over a longer period.	0.78
Correlation (10Y) Provides a long-term view across more market conditions.	0.76
Correlation (All Time) Calculated using the full available price history since Jan 8, 2009	0.77

The correlation between MIDU and KRE shifts across timeframes, from 0.66 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.

MIDU vs. KRE - Sectors Allocation Comparison

Sectors	MIDU	KRE
Industrials	5.0%	-
Technology	3.6%	-
Financial Services	3.3%	100.0%
Consumer Cyclical	2.4%	-
Healthcare	2.4%	-
Real Estate	1.8%	-
Basic Materials	1.6%	-
Energy	1.2%	-
Consumer Defensive	0.8%	-
Utilities	0.7%	-
Communication Services	0.4%	-

Return for Risk

MIDU vs. KRE — Risk / Return Rank

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

MIDU

MIDU Risk / Return Rank: 56
MIDU Sharpe Ratio Rank: 51
MIDU Sortino Ratio Rank: 53
MIDU Omega Ratio Rank: 48
MIDU Calmar Ratio Rank: 65
MIDU Martin Ratio Rank: 62

KRE

KRE Risk / Return Rank: 60
KRE Sharpe Ratio Rank: 63
KRE Sortino Ratio Rank: 60
KRE Omega Ratio Rank: 63
KRE Calmar Ratio Rank: 64
KRE Martin Ratio Rank: 51

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.

MIDU vs. KRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Mid Cap Bull 3X Shares (MIDU) and SPDR S&P Regional Banking ETF (KRE). 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	KRE	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.51	-0.20
Sortino ratio: Return per unit of downside risk	1.93	2.09	-0.16
Omega ratio: Gain probability vs. loss probability	1.23	1.28	-0.04
Calmar ratio: Return relative to maximum drawdown	2.37	2.30	+0.07
Martin ratio: Return relative to average drawdown	7.78	6.10	+1.68

MIDU vs. KRE - Sharpe Ratio Comparison

The current MIDU Sharpe Ratio is 1.31, which is comparable to the KRE Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of MIDU and KRE, 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. KRE - Drawdown Comparison

The maximum MIDU drawdown since its inception was -86.26%, which is greater than KRE's maximum drawdown of -68.54%. Use the drawdown chart below to compare losses from any high point for MIDU and KRE.

Drawdown Indicators

	MIDU	KRE	Difference
Max Drawdown Largest peak-to-trough decline	-86.26%	-68.54%	-17.72%
Max Drawdown (1Y) Largest decline over 1 year	-25.80%	-14.95%	-10.85%
Max Drawdown (3Y) Largest decline over 3 years	-60.41%	-28.20%	-32.21%
Max Drawdown (5Y) Largest decline over 5 years	-64.14%	-52.69%	-11.45%
Max Drawdown (10Y) Largest decline over 10 years	-86.26%	-54.92%	-31.34%
Current Drawdown Current decline from peak	-5.10%	-1.10%	-4.00%
Average Drawdown Average peak-to-trough decline	-22.27%	-21.74%	-0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.83%	5.62%	+2.21%

Volatility

MIDU vs. KRE - Volatility Comparison

Direxion Daily Mid Cap Bull 3X Shares (MIDU) has a higher volatility of 10.70% compared to SPDR S&P Regional Banking ETF (KRE) at 5.47%. This indicates that MIDU's price experiences larger fluctuations and is considered to be riskier than KRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIDU	KRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.70%	5.47%	+5.23%
Volatility (6M) Calculated over the trailing 6-month period	34.53%	15.34%	+19.19%
Volatility (1Y) Calculated over the trailing 1-year period	46.82%	22.85%	+23.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.25%	29.63%	+29.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.48%	31.78%	+31.70%

MIDU vs. KRE - Expense Ratio Comparison

MIDU has a 1.06% expense ratio, which is higher than KRE's 0.35% expense ratio.

Dividends

MIDU vs. KRE - Dividend Comparison

MIDU's dividend yield for the trailing twelve months is around 0.50%, less than KRE's 2.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KRE SPDR S&P Regional Banking ETF	2.08%	2.45%	2.59%	2.99%	2.51%	1.97%	2.78%	2.21%	2.48%	1.40%	1.40%	1.80%
MIDU Direxion Daily Mid Cap Bull 3X Shares	0.50%	1.04%	1.10%	1.43%	0.11%	0.00%	0.06%	0.71%	0.70%	2.67%	1.89%	0.00%

Frequently Asked Questions

Can I hold both MIDU and KRE in my portfolio?

MIDU and KRE have a correlation of 0.66, 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 KRE?

MIDU has higher volatility (10.70%) compared to KRE (5.47%). In terms of maximum drawdown, MIDU dropped -86.26% vs KRE's -68.54%.

Which ETF is better, MIDU or KRE?

On 10-year performance, MIDU leads with 10.97% vs 9.15% for KRE. On fees, KRE is cheaper at 0.35% per year. On volatility, KRE has been the lower-risk option at 5.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MIDU or KRE?

Over the 10-year period, MIDU has performed better with a 10.97% return vs 9.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MIDU or KRE?

KRE is cheaper with a 0.35% expense ratio, compared with 1.06% for MIDU.

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

KRE has the higher dividend yield at 2.08%, compared with 0.50% for MIDU.

What is the main difference between MIDU and KRE?

MIDU is categorized as Leveraged Equities, while KRE is Financials Equities. MIDU tracks S&P MidCap 400 Index (300%), while KRE tracks S&P Regional Banks Select Industry Index. They also come from different issuers: Direxion and State Street. Their fees differ too: 1.06% for MIDU and 0.35% for KRE.

Which has better risk-adjusted returns?

KRE currently has the higher Sharpe Ratio (1.51 vs 1.31), 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.