MSFO vs. MUU

Last updated Jul 12, 2026

MSFO (YieldMax MSFT Option Income Strategy ETF ) and MUU (Direxion Daily MU Bull 2X Shares) are both exchange-traded funds - MSFO is a Options Trading fund actively managed by YieldMax, while MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily). MSFO is actively managed, while MUU is passively managed. Over the past year, MSFO returned -18.61% vs 3083.51% for MUU. At a 0.28 correlation, their price movements are largely independent. MSFO charges 0.99%/yr vs 1.01%/yr for MUU.

Performance

MSFO vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax MSFT Option Income Strategy ETF (MSFO) 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, MSFO achieves a -17.66% return, which is significantly lower than MUU's 642.75% return.

MSFO

• 1D: 0.00%
• 1M: -1.79%
• 6M: -16.60%
• YTD: -17.66%
• 1Y: -18.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: -2.52%
• 1M: -10.27%
• 6M: 421.21%
• YTD: 642.75%
• 1Y: 3,083.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSFO vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSFO YieldMax MSFT Option Income Strategy ETF	-17.66%	15.69%	0.05%
MUU Direxion Daily MU Bull 2X Shares	642.75%	599.03%	-40.91%

Correlation

The correlation between MSFO and MUU is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	0.28

Return for Risk

MSFO vs. MUU — Risk / Return Rank

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

MSFO

MSFO Risk / Return Rank: 3
MSFO Sharpe Ratio Rank: 3
MSFO Sortino Ratio Rank: 3
MSFO Omega Ratio Rank: 3
MSFO Calmar Ratio Rank: 4
MSFO Martin Ratio Rank: 3

MUU

MUU Risk / Return Rank: 99
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 97
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.

MSFO vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MSFT Option Income Strategy ETF (MSFO) 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.

	MSFO	MUU	Difference
Sharpe ratio: Return per unit of total volatility	-0.80	27.27	-28.07
Sortino ratio: Return per unit of downside risk	-1.01	5.80	-6.80
Omega ratio: Gain probability vs. loss probability	0.87	1.72	-0.85
Calmar ratio: Return relative to maximum drawdown	-0.63	75.03	-75.66
Martin ratio: Return relative to average drawdown	-1.22	245.78	-247.00

MSFO vs. MUU - Sharpe Ratio Comparison

The current MSFO Sharpe Ratio is -0.80, which is lower than the MUU Sharpe Ratio of 27.27. The chart below compares the historical Sharpe Ratios of MSFO 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

MSFO vs. MUU - Drawdown Comparison

The maximum MSFO drawdown since its inception was -29.65%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for MSFO and MUU.

Drawdown Indicators

	MSFO	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-29.65%	-75.07%	+45.42%
Max Drawdown (1Y) Largest decline over 1 year	-29.65%	-52.72%	+23.07%
Current Drawdown Current decline from peak	-24.55%	-30.01%	+5.46%
Average Drawdown Average peak-to-trough decline	-7.15%	-23.40%	+16.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.18%	16.41%	-1.23%

Volatility

MSFO vs. MUU - Volatility Comparison

The current volatility for YieldMax MSFT Option Income Strategy ETF (MSFO) is 9.00%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 67.23%. This indicates that MSFO 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

	MSFO	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.00%	67.23%	-58.23%
Volatility (6M) Calculated over the trailing 6-month period	20.86%	116.08%	-95.22%
Volatility (1Y) Calculated over the trailing 1-year period	23.31%	145.04%	-121.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.22%	138.03%	-117.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.22%	138.03%	-117.81%

MSFO vs. MUU - Expense Ratio Comparison

MSFO has a 0.99% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

MSFO vs. MUU - Dividend Comparison

MSFO's dividend yield for the trailing twelve months is around 43.55%, more than MUU's 0.64% yield.

Position	TTM	2025	2024	2023
MSFO YieldMax MSFT Option Income Strategy ETF	43.55%	33.91%	35.15%	6.44%
MUU Direxion Daily MU Bull 2X Shares	0.64%	4.27%	0.31%	0.00%

Frequently Asked Questions

Can I hold both MSFO and MUU in my portfolio?

MSFO and MUU have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSFO or MUU?

MUU has higher volatility (67.23%) compared to MSFO (9.00%). In terms of maximum drawdown, MSFO dropped -29.65% vs MUU's -75.07%.

Which ETF is better, MSFO or MUU?

On 1-year performance, MUU leads with 3083.51% vs -18.61% for MSFO. On fees, MSFO is cheaper at 0.99% per year. On volatility, MSFO has been the lower-risk option at 9.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFO or MUU?

Over the 1-year period, MUU has performed better with a 3083.51% return vs -18.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFO or MUU?

MSFO is cheaper with a 0.99% expense ratio, compared with 1.01% for MUU.

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

MSFO has the higher dividend yield at 43.55%, compared with 0.64% for MUU.

What is the main difference between MSFO and MUU?

MSFO is categorized as Options Trading, while MUU is Leveraged Equities. They also come from different issuers: YieldMax and Direxion. Their fees differ too: 0.99% for MSFO and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (27.27 vs -0.80), 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.