MSFD vs. MUU

Last updated Aug 2, 2026

MSFD (Direxion Daily MSFT Bear 1X Shares) and MUU (Direxion Daily MU Bull 2X Shares) are both exchange-traded funds - MSFD is a Inverse Equities fund tracking the Microsoft Corporation (-100%), while MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily). Both are passively managed. Over the past year, MSFD returned 7.40% vs 2805.45% for MUU. Their -0.18 correlation means they have often moved in opposite directions in the past. MSFD charges 1.06%/yr vs 1.01%/yr for MUU.

Performance

MSFD vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MSFT Bear 1X Shares (MSFD) 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, MSFD achieves a -1.78% return, which is significantly lower than MUU's 372.51% return.

MSFD

• 1D: -2.88%
• 1M: -18.05%
• 6M: -11.78%
• YTD: -1.78%
• 1Y: 7.40%
• 3Y*: -10.70%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -15.36%

MUU

• 1D: -12.24%
• 1M: -36.47%
• 6M: 134.93%
• YTD: 372.51%
• 1Y: 2,805.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 419.04%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MSFD Direxion Daily MSFT Bear 1X Shares	$21.45M	$15.41M	$22.03M
MUU Direxion Daily MU Bull 2X Shares	$1.51B	$1.57B	$2.27B

MSFD vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSFD Direxion Daily MSFT Bear 1X Shares	-1.78%	-13.36%	-0.61%
MUU Direxion Daily MU Bull 2X Shares	372.51%	599.03%	-40.91%

Correlation

The correlation between MSFD and MUU is -0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.05
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	-0.18

The correlation between MSFD and MUU shifts across timeframes, from -0.18 (all time) to -0.05 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MSFD vs. MUU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MSFD

MSFD Risk / Return Rank: 18
MSFD Sharpe Ratio Rank: 17
MSFD Sortino Ratio Rank: 18
MSFD Omega Ratio Rank: 20
MSFD Calmar Ratio Rank: 17
MSFD Martin Ratio Rank: 19

MUU

MUU Risk / Return Rank: 98
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 96
MUU Calmar Ratio Rank: 99
MUU Martin Ratio Rank: 99

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MSFD vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSFT Bear 1X Shares (MSFD) 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.

	MSFD	MUU	Difference
Sharpe ratio: Return per unit of total volatility	0.30	16.13	-15.83
Sortino ratio: Return per unit of downside risk	0.60	4.86	-4.26
Omega ratio: Gain probability vs. loss probability	1.09	1.61	-0.52
Calmar ratio: Return relative to maximum drawdown	0.36	38.27	-37.91
Martin ratio: Return relative to average drawdown	1.20	127.21	-126.01

MSFD vs. MUU - Sharpe Ratio Comparison

The current MSFD Sharpe Ratio is 0.30, which is lower than the MUU Sharpe Ratio of 16.13. The chart below compares the historical Sharpe Ratios of MSFD 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

MSFD vs. MUU - Drawdown Comparison

The maximum MSFD drawdown since its inception was -59.90%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for MSFD and MUU.

Drawdown Indicators

	MSFD	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-59.90%	-75.07%	+15.17%
Max Drawdown (1Y) Largest decline over 1 year	-26.54%	-68.07%	+41.53%
Max Drawdown (3Y) Largest decline over 3 years	-40.50%	—	—
Current Drawdown Current decline from peak	-55.70%	-61.50%	+5.80%
Average Drawdown Average peak-to-trough decline	-41.72%	-24.34%	-17.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.87%	20.44%	-12.57%

Volatility

MSFD vs. MUU - Volatility Comparison

The current volatility for Direxion Daily MSFT Bear 1X Shares (MSFD) is 18.10%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 62.16%. This indicates that MSFD 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

	MSFD	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.10%	62.16%	-44.06%
Volatility (6M) Calculated over the trailing 6-month period	27.83%	134.20%	-106.37%
Volatility (1Y) Calculated over the trailing 1-year period	32.03%	161.94%	-129.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.55%	146.71%	-119.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.55%	146.71%	-119.16%

MSFD vs. MUU - Expense Ratio Comparison

MSFD has a 1.06% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

MSFD vs. MUU - Dividend Comparison

MSFD's dividend yield for the trailing twelve months is around 4.02%, more than MUU's 1.44% yield.

Position	TTM	2025	2024	2023	2022
MSFD Direxion Daily MSFT Bear 1X Shares	4.02%	3.33%	4.46%	4.43%	0.74%
MUU Direxion Daily MU Bull 2X Shares	1.44%	4.27%	0.31%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSFD and MUU in my portfolio?

MSFD and MUU have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSFD or MUU?

MUU has higher volatility (62.16%) compared to MSFD (18.10%). In terms of maximum drawdown, MSFD dropped -59.90% vs MUU's -75.07%.

Which ETF is better, MSFD or MUU?

On 1-year performance, MUU leads with 2805.45% vs 7.40% for MSFD. On fees, MUU is cheaper at 1.01% per year. On volatility, MSFD has been the lower-risk option at 18.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFD or MUU?

Over the 1-year period, MUU has performed better with a 2805.45% return vs 7.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFD or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.06% for MSFD.

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

MSFD has the higher dividend yield at 4.02%, compared with 1.44% for MUU.

What is the main difference between MSFD and MUU?

MSFD is categorized as Inverse Equities, while MUU is Leveraged Equities. MSFD tracks Microsoft Corporation (-100%), while MUU tracks Micron Technology, Inc. (200% Daily). Their fees differ too: 1.06% for MSFD and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (16.13 vs 0.30), 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.