MRVU vs. TNA

Last updated Jul 12, 2026

MRVU (Direxion Daily MRVL Bull 2X ETF) and TNA (Direxion Daily Small Cap Bull 3X Shares) are both Leveraged Equities funds from Direxion - MRVU tracks the Marvell Technology, Inc. (MRVL) while TNA tracks the Russell 2000 Index (300% Daily). Both are passively managed. A 0.58 correlation means they provide meaningful diversification when combined. MRVU charges 0.97%/yr vs 1.05%/yr for TNA.

Performance

MRVU vs. TNA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MRVL Bull 2X ETF (MRVU) and Direxion Daily Small Cap Bull 3X Shares (TNA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MRVU

• 1D: -6.13%
• 1M: -34.72%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TNA

• 1D: -1.41%
• 1M: 2.70%
• 6M: 33.91%
• YTD: 57.29%
• 1Y: 98.84%
• 3Y*: 26.22%
• 5Y*: -4.51%
• 10Y*: 7.64%

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

MRVU vs. TNA - Yearly Performance Comparison

	2026 (YTD)
MRVU Direxion Daily MRVL Bull 2X ETF	469.18%
TNA Direxion Daily Small Cap Bull 3X Shares	27.43%

Correlation

The correlation between MRVU and TNA is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 11, 2026	0.58

Return for Risk

MRVU vs. TNA — Risk / Return Rank

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

MRVU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

TNA

TNA Risk / Return Rank: 59
TNA Sharpe Ratio Rank: 58
TNA Sortino Ratio Rank: 55
TNA Omega Ratio Rank: 48
TNA Calmar Ratio Rank: 69
TNA Martin Ratio Rank: 64

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.

MRVU vs. TNA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MRVL Bull 2X ETF (MRVU) and Direxion Daily Small Cap Bull 3X Shares (TNA). 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.

	MRVU	TNA	Difference
Sharpe ratio: Return per unit of total volatility	—	1.56	—
Sortino ratio: Return per unit of downside risk	—	2.14	—
Omega ratio: Gain probability vs. loss probability	—	1.25	—
Calmar ratio: Return relative to maximum drawdown	—	2.80	—
Martin ratio: Return relative to average drawdown	—	9.19	—

Drawdowns

MRVU vs. TNA - Drawdown Comparison

The maximum MRVU drawdown since its inception was -54.46%, smaller than the maximum TNA drawdown of -88.09%. Use the drawdown chart below to compare losses from any high point for MRVU and TNA.

Drawdown Indicators

	MRVU	TNA	Difference
Max Drawdown Largest peak-to-trough decline	-54.46%	-88.09%	+33.63%
Max Drawdown (1Y) Largest decline over 1 year	—	-32.53%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-65.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-82.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-88.09%	—
Current Drawdown Current decline from peak	-52.68%	-33.48%	-19.20%
Average Drawdown Average peak-to-trough decline	-10.99%	-33.92%	+22.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.91%	—

Volatility

Volatility by Period

	MRVU	TNA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	42.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	193.56%	58.24%	+135.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	193.56%	67.45%	+126.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	193.56%	68.31%	+125.25%

MRVU vs. TNA - Expense Ratio Comparison

MRVU has a 0.97% expense ratio, which is lower than TNA's 1.05% expense ratio.

Dividends

MRVU vs. TNA - Dividend Comparison

MRVU's dividend yield for the trailing twelve months is around 0.29%, which matches TNA's 0.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MRVU Direxion Daily MRVL Bull 2X ETF	0.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TNA Direxion Daily Small Cap Bull 3X Shares	0.29%	0.78%	0.93%	1.27%	0.31%	0.06%	0.03%	0.44%	0.36%	0.15%

Frequently Asked Questions

Can I hold both MRVU and TNA in my portfolio?

MRVU and TNA have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MRVU or TNA?

On fees, MRVU is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MRVU or TNA?

MRVU is cheaper with a 0.97% expense ratio, compared with 1.05% for TNA.

Which ETF pays a higher dividend yield, MRVU or TNA?

MRVU and TNA have nearly identical dividend yields, around 0.29%.

What is the main difference between MRVU and TNA?

MRVU tracks Marvell Technology, Inc. (MRVL), while TNA tracks Russell 2000 Index (300% Daily). Their fees differ too: 0.97% for MRVU and 1.05% for TNA.