MRNX vs. SPUU
MRNX (Defiance Daily Target 2X Long MRNA ETF) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds. MRNX is actively managed, while SPUU is passively managed. At a 0.41 correlation, their price movements are largely independent. MRNX charges 1.31%/yr vs 0.60%/yr for SPUU.
Performance
MRNX vs. SPUU - Performance Comparison
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Returns By Period
MRNX
- 1D
- -3.51%
- 1M
- -18.93%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SPUU
- 1D
- -2.64%
- 1M
- 0.56%
- 6M
- 12.22%
- YTD
- 14.13%
- 1Y
- 29.56%
- 3Y*
- 30.77%
- 5Y*
- 17.03%
- 10Y*
- 23.43%
- ALL TIME*
- 21.19%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $817.70K | $1.81M | $1.18M | |
| $4.65M | $4.93M | $4.49M |
MRNX vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MRNX Defiance Daily Target 2X Long MRNA ETF | 29.26% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 12.14% |
Correlation
The correlation between MRNX and SPUU is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 4, 2026 | 0.41 |
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Return for Risk
MRNX vs. SPUU — Risk / Return Rank
MRNX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPUU
MRNX vs. SPUU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long MRNA ETF (MRNX) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). 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.
| MRNX | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.21 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.63 | — |
| Martin ratioReturn relative to average drawdown | — | 6.69 | — |
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Drawdowns
MRNX vs. SPUU - Drawdown Comparison
The maximum MRNX drawdown since its inception was -53.66%, smaller than the maximum SPUU drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for MRNX and SPUU.
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Drawdown Indicators
| MRNX | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.66% | -59.35% | +5.69% |
Max Drawdown (1Y)Largest decline over 1 year | — | -18.19% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -35.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.59% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -59.35% | — |
Current DrawdownCurrent decline from peak | -53.66% | -5.96% | -47.70% |
Average DrawdownAverage peak-to-trough decline | -22.71% | -9.44% | -13.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.43% | — |
Volatility
MRNX vs. SPUU - Volatility Comparison
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Volatility by Period
| MRNX | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.34% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 19.92% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 137.48% | 25.54% | +111.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 137.48% | 33.66% | +103.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 137.48% | 35.76% | +101.72% |
MRNX vs. SPUU - Expense Ratio Comparison
MRNX has a 1.31% expense ratio, which is higher than SPUU's 0.60% expense ratio.
Dividends
MRNX vs. SPUU - Dividend Comparison
MRNX has not paid dividends to shareholders, while SPUU's dividend yield for the trailing twelve months is around 1.38%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MRNX Defiance Daily Target 2X Long MRNA ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 1.38% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
Frequently Asked Questions
MRNX and SPUU have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPUU is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPUU is cheaper with a 0.60% expense ratio, compared with 1.31% for MRNX.
SPUU has the higher dividend yield at 1.38%, compared with 0.00% for MRNX.
They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.31% for MRNX and 0.60% for SPUU.
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