MJ vs. MUU

Last updated Jul 14, 2026

MJ (ETFMG Alternative Harvest ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both exchange-traded funds - MJ is a Small Cap Blend Equities fund tracking the Prime Alternative Harvest Index, while MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily). Both are passively managed. Over the past year, MJ returned 16.68% vs 2796.55% for MUU. At a 0.18 correlation, their price movements are largely independent. MJ charges 0.75%/yr vs 1.01%/yr for MUU.

Performance

MJ vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETFMG Alternative Harvest ETF (MJ) 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, MJ achieves a -18.76% return, which is significantly lower than MUU's 575.80% return.

MJ

• 1D: 1.64%
• 1M: -4.54%
• 6M: -22.56%
• YTD: -18.76%
• 1Y: 16.68%
• 3Y*: -10.44%
• 5Y*: -34.42%
• 10Y*: —

MUU

• 1D: -9.01%
• 1M: -18.36%
• 6M: 372.65%
• YTD: 575.80%
• 1Y: 2,796.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MJ vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MJ ETFMG Alternative Harvest ETF	-18.76%	13.07%	-28.11%
MUU Direxion Daily MU Bull 2X Shares	575.80%	599.03%	-40.91%

Correlation

The correlation between MJ and MUU is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	0.18

Return for Risk

MJ vs. MUU — Risk / Return Rank

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

MJ

MJ Risk / Return Rank: 17
MJ Sharpe Ratio Rank: 13
MJ Sortino Ratio Rank: 23
MJ Omega Ratio Rank: 21
MJ Calmar Ratio Rank: 14
MJ Martin Ratio Rank: 12

MUU

MUU Risk / Return Rank: 99
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 96
MUU Calmar Ratio Rank: 100
MUU Martin Ratio Rank: 99

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.

MJ vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETFMG Alternative Harvest ETF (MJ) 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.

	MJ	MUU	Difference
Sharpe ratio: Return per unit of total volatility	0.19	23.95	-23.76
Sortino ratio: Return per unit of downside risk	1.08	5.62	-4.54
Omega ratio: Gain probability vs. loss probability	1.12	1.69	-0.57
Calmar ratio: Return relative to maximum drawdown	0.34	66.09	-65.75
Martin ratio: Return relative to average drawdown	0.56	221.31	-220.75

MJ vs. MUU - Sharpe Ratio Comparison

The current MJ Sharpe Ratio is 0.19, which is lower than the MUU Sharpe Ratio of 23.95. The chart below compares the historical Sharpe Ratios of MJ 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

MJ vs. MUU - Drawdown Comparison

The maximum MJ drawdown since its inception was -96.55%, which is greater than MUU's maximum drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for MJ and MUU.

Drawdown Indicators

	MJ	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-96.55%	-75.07%	-21.48%
Max Drawdown (1Y) Largest decline over 1 year	-48.66%	-52.72%	+4.06%
Max Drawdown (3Y) Largest decline over 3 years	-69.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-92.00%	—	—
Current Drawdown Current decline from peak	-94.76%	-36.32%	-58.44%
Average Drawdown Average peak-to-trough decline	-69.50%	-23.43%	-46.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.74%	16.57%	+13.17%

Volatility

MJ vs. MUU - Volatility Comparison

The current volatility for ETFMG Alternative Harvest ETF (MJ) is 11.97%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 67.81%. This indicates that MJ 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

	MJ	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.97%	67.81%	-55.84%
Volatility (6M) Calculated over the trailing 6-month period	39.92%	116.35%	-76.43%
Volatility (1Y) Calculated over the trailing 1-year period	86.88%	145.78%	-58.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.09%	138.10%	-78.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.59%	138.10%	-82.51%

MJ vs. MUU - Expense Ratio Comparison

MJ has a 0.75% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

MJ vs. MUU - Dividend Comparison

MJ's dividend yield for the trailing twelve months is around 2.44%, more than MUU's 0.70% yield.

Position	TTM	2025	2024
MJ ETFMG Alternative Harvest ETF	2.44%	1.98%	13.80%
MUU Direxion Daily MU Bull 2X Shares	0.70%	4.27%	0.31%

Frequently Asked Questions

Can I hold both MJ and MUU in my portfolio?

MJ and MUU have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MJ or MUU?

MUU has higher volatility (67.81%) compared to MJ (11.97%). In terms of maximum drawdown, MJ dropped -96.55% vs MUU's -75.07%.

Which ETF is better, MJ or MUU?

On 1-year performance, MUU leads with 2796.55% vs 16.68% for MJ. On fees, MJ is cheaper at 0.75% per year. On volatility, MJ has been the lower-risk option at 11.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MJ or MUU?

Over the 1-year period, MUU has performed better with a 2796.55% return vs 16.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MJ or MUU?

MJ is cheaper with a 0.75% expense ratio, compared with 1.01% for MUU.

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

MJ has the higher dividend yield at 2.44%, compared with 0.70% for MUU.

What is the main difference between MJ and MUU?

MJ is categorized as Small Cap Blend Equities, while MUU is Leveraged Equities. MJ tracks Prime Alternative Harvest Index, while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: ETFMG and Direxion. Their fees differ too: 0.75% for MJ and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (23.95 vs 0.19), 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.