MIDU vs. NAIL

Last updated Jul 22, 2026

MIDU (Direxion Daily Mid Cap Bull 3X Shares) and NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares) are both Leveraged Equities funds from Direxion - MIDU tracks the S&P MidCap 400 Index (300%) while NAIL tracks the Dow Jones U.S. Select Home Construction Index (300%). Both are passively managed. Over the past 10 years, MIDU returned 11.03%/yr vs 2.20%/yr for NAIL. A 0.69 correlation means they provide meaningful diversification when combined. MIDU charges 1.06%/yr vs 0.99%/yr for NAIL.

Performance

MIDU vs. NAIL - 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 Homebuilders & Supplies Bull 3X Shares (NAIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MIDU achieves a 38.50% return, which is significantly higher than NAIL's -22.74% return. Over the past 10 years, MIDU has outperformed NAIL with an annualized return of 11.03%, while NAIL has yielded a comparatively lower 2.20% annualized return.

MIDU

• 1D: 3.00%
• 1M: -1.49%
• 6M: 21.86%
• YTD: 38.50%
• 1Y: 50.44%
• 3Y*: 17.97%
• 5Y*: 4.79%
• 10Y*: 11.03%
• ALL TIME*: 21.96%

NAIL

• 1D: -1.60%
• 1M: -16.35%
• 6M: -39.64%
• YTD: -22.74%
• 1Y: -29.80%
• 3Y*: -20.75%
• 5Y*: -12.02%
• 10Y*: 2.20%
• ALL TIME*: 0.03%

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

MIDU vs. NAIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MIDU Direxion Daily Mid Cap Bull 3X Shares	38.50%	-2.75%	20.32%	27.79%	-49.27%	72.89%	-18.31%	77.38%	-39.21%	46.86%
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares	-22.74%	-40.43%	-22.83%	259.61%	-75.23%	168.20%	-32.08%	184.63%	-73.96%	268.71%

Correlation

The correlation between MIDU and NAIL is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015	0.69

The correlation between MIDU and NAIL has been stable across timeframes, ranging from 0.67 to 0.75 - a consistent structural relationship.

MIDU vs. NAIL - Sectors Allocation Comparison

Sectors	MIDU	NAIL
Industrials	25.3%	19.0%
Technology	17.1%	-
Financial Services	13.9%	-
Consumer Cyclical	10.5%	71.9%
Healthcare	8.9%	-
Real Estate	7.3%	0.7%
Basic Materials	4.8%	8.4%
Energy	4.6%	-
Consumer Defensive	3.2%	-
Utilities	2.9%	-
Communication Services	1.5%	-

Return for Risk

MIDU vs. NAIL — Risk / Return Rank

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

MIDU

MIDU Risk / Return Rank: 45
MIDU Sharpe Ratio Rank: 40
MIDU Sortino Ratio Rank: 43
MIDU Omega Ratio Rank: 39
MIDU Calmar Ratio Rank: 52
MIDU Martin Ratio Rank: 51

NAIL

NAIL Risk / Return Rank: 8
NAIL Sharpe Ratio Rank: 7
NAIL Sortino Ratio Rank: 10
NAIL Omega Ratio Rank: 9
NAIL Calmar Ratio Rank: 6
NAIL Martin Ratio Rank: 7

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. NAIL - 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 Homebuilders & Supplies Bull 3X Shares (NAIL). 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	NAIL	Difference
Sharpe ratio: Return per unit of total volatility	1.08	-0.33	+1.41
Sortino ratio: Return per unit of downside risk	1.70	0.07	+1.63
Omega ratio: Gain probability vs. loss probability	1.20	1.01	+0.19
Calmar ratio: Return relative to maximum drawdown	1.96	-0.44	+2.40
Martin ratio: Return relative to average drawdown	6.42	-0.70	+7.12

MIDU vs. NAIL - Sharpe Ratio Comparison

The current MIDU Sharpe Ratio is 1.08, which is higher than the NAIL Sharpe Ratio of -0.33. The chart below compares the historical Sharpe Ratios of MIDU and NAIL, 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. NAIL - Drawdown Comparison

The maximum MIDU drawdown since its inception was -86.26%, smaller than the maximum NAIL drawdown of -93.75%. Use the drawdown chart below to compare losses from any high point for MIDU and NAIL.

Drawdown Indicators

	MIDU	NAIL	Difference
Max Drawdown Largest peak-to-trough decline	-86.26%	-93.75%	+7.49%
Max Drawdown (1Y) Largest decline over 1 year	-25.80%	-67.85%	+42.05%
Max Drawdown (3Y) Largest decline over 3 years	-60.41%	-82.09%	+21.68%
Max Drawdown (5Y) Largest decline over 5 years	-64.14%	-84.40%	+20.26%
Max Drawdown (10Y) Largest decline over 10 years	-86.26%	-93.75%	+7.49%
Current Drawdown Current decline from peak	-6.39%	-77.92%	+71.53%
Average Drawdown Average peak-to-trough decline	-22.30%	-44.14%	+21.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.88%	42.73%	-34.85%

Volatility

MIDU vs. NAIL - Volatility Comparison

The current volatility for Direxion Daily Mid Cap Bull 3X Shares (MIDU) is 10.37%, while Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) has a volatility of 28.81%. This indicates that MIDU experiences smaller price fluctuations and is considered to be less risky than NAIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIDU	NAIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.37%	28.81%	-18.44%
Volatility (6M) Calculated over the trailing 6-month period	34.84%	64.42%	-29.58%
Volatility (1Y) Calculated over the trailing 1-year period	47.10%	89.85%	-42.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.24%	88.02%	-28.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.47%	89.71%	-26.24%

MIDU vs. NAIL - Expense Ratio Comparison

MIDU has a 1.06% expense ratio, which is higher than NAIL's 0.99% expense ratio.

Dividends

MIDU vs. NAIL - Dividend Comparison

MIDU's dividend yield for the trailing twelve months is around 0.51%, less than NAIL's 0.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
MIDU Direxion Daily Mid Cap Bull 3X Shares	0.51%	1.04%	1.10%	1.43%	0.11%	0.00%	0.06%	0.71%	0.70%	2.67%	1.89%
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares	0.81%	1.55%	0.63%	0.22%	0.00%	0.00%	0.01%	0.17%	0.35%	1.25%	0.00%

Frequently Asked Questions

Can I hold both MIDU and NAIL in my portfolio?

MIDU and NAIL have a correlation of 0.67, 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 NAIL?

NAIL has higher volatility (28.81%) compared to MIDU (10.37%). In terms of maximum drawdown, MIDU dropped -86.26% vs NAIL's -93.75%.

Which ETF is better, MIDU or NAIL?

On 10-year performance, MIDU leads with 11.03% vs 2.20% for NAIL. On fees, NAIL is cheaper at 0.99% per year. On volatility, MIDU has been the lower-risk option at 10.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MIDU or NAIL?

Over the 10-year period, MIDU has performed better with a 11.03% return vs 2.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MIDU or NAIL?

NAIL is cheaper with a 0.99% expense ratio, compared with 1.06% for MIDU.

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

NAIL has the higher dividend yield at 0.81%, compared with 0.51% for MIDU.

What is the main difference between MIDU and NAIL?

MIDU tracks S&P MidCap 400 Index (300%), while NAIL tracks Dow Jones U.S. Select Home Construction Index (300%). Their fees differ too: 1.06% for MIDU and 0.99% for NAIL.

Which has better risk-adjusted returns?

MIDU currently has the higher Sharpe Ratio (1.08 vs -0.33), 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.