MRAL vs. MUU

Last updated Jul 14, 2026

MRAL (GraniteShares 2x Long MARA Daily ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds - MRAL tracks the MARA Holdings Inc. (MARA) while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. Over the past year, MRAL returned -81.59% vs 2796.55% for MUU. At a 0.36 correlation, their price movements are largely independent. MRAL charges 1.50%/yr vs 1.01%/yr for MUU.

Performance

MRAL vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MARA Daily ETF (MRAL) 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, MRAL achieves a 14.77% return, which is significantly lower than MUU's 575.80% return.

MRAL

• 1D: -6.58%
• 1M: -28.81%
• 6M: -16.11%
• YTD: 14.77%
• 1Y: -81.59%
• 3Y*: —
• 5Y*: —
• 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)

MRAL vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
MRAL GraniteShares 2x Long MARA Daily ETF	14.77%	-82.23%
MUU Direxion Daily MU Bull 2X Shares	575.80%	581.66%

Correlation

The correlation between MRAL and MUU is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025	0.36

Return for Risk

MRAL vs. MUU — Risk / Return Rank

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

MRAL

MRAL Risk / Return Rank: 4
MRAL Sharpe Ratio Rank: 5
MRAL Sortino Ratio Rank: 5
MRAL Omega Ratio Rank: 6
MRAL Calmar Ratio Rank: 2
MRAL Martin Ratio Rank: 4

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.

MRAL vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MARA Daily ETF (MRAL) 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.

	MRAL	MUU	Difference
Sharpe ratio: Return per unit of total volatility	-0.52	23.95	-24.47
Sortino ratio: Return per unit of downside risk	-0.43	5.62	-6.05
Omega ratio: Gain probability vs. loss probability	0.95	1.69	-0.74
Calmar ratio: Return relative to maximum drawdown	-0.87	66.09	-66.97
Martin ratio: Return relative to average drawdown	-1.15	221.31	-222.46

MRAL vs. MUU - Sharpe Ratio Comparison

The current MRAL Sharpe Ratio is -0.52, which is lower than the MUU Sharpe Ratio of 23.95. The chart below compares the historical Sharpe Ratios of MRAL 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

MRAL vs. MUU - Drawdown Comparison

The maximum MRAL drawdown since its inception was -93.46%, which is greater than MUU's maximum drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for MRAL and MUU.

Drawdown Indicators

	MRAL	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-93.46%	-75.07%	-18.39%
Max Drawdown (1Y) Largest decline over 1 year	-93.46%	-52.72%	-40.74%
Current Drawdown Current decline from peak	-84.88%	-36.32%	-48.56%
Average Drawdown Average peak-to-trough decline	-57.75%	-23.43%	-34.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	70.78%	16.57%	+54.21%

Volatility

MRAL vs. MUU - Volatility Comparison

The current volatility for GraniteShares 2x Long MARA Daily ETF (MRAL) is 43.07%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 67.81%. This indicates that MRAL 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

	MRAL	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	43.07%	67.81%	-24.74%
Volatility (6M) Calculated over the trailing 6-month period	121.06%	116.35%	+4.71%
Volatility (1Y) Calculated over the trailing 1-year period	157.27%	145.78%	+11.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	164.70%	138.10%	+26.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	164.70%	138.10%	+26.60%

MRAL vs. MUU - Expense Ratio Comparison

MRAL has a 1.50% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

MRAL vs. MUU - Dividend Comparison

MRAL has not paid dividends to shareholders, while MUU's dividend yield for the trailing twelve months is around 0.70%.

Position	TTM	2025	2024
MRAL GraniteShares 2x Long MARA Daily ETF	0.00%	0.00%	0.00%
MUU Direxion Daily MU Bull 2X Shares	0.70%	4.27%	0.31%

Frequently Asked Questions

Can I hold both MRAL and MUU in my portfolio?

MRAL and MUU have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MRAL or MUU?

MUU has higher volatility (67.81%) compared to MRAL (43.07%). In terms of maximum drawdown, MRAL dropped -93.46% vs MUU's -75.07%.

Which ETF is better, MRAL or MUU?

On 1-year performance, MUU leads with 2796.55% vs -81.59% for MRAL. On fees, MUU is cheaper at 1.01% per year. On volatility, MRAL has been the lower-risk option at 43.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MRAL or MUU?

Over the 1-year period, MUU has performed better with a 2796.55% return vs -81.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MRAL or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.50% for MRAL.

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

MUU has the higher dividend yield at 0.70%, compared with 0.00% for MRAL.

What is the main difference between MRAL and MUU?

MRAL tracks MARA Holdings Inc. (MARA), while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for MRAL and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (23.95 vs -0.52), 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.