MSFU vs. ARMG

Last updated Jun 3, 2026

MSFU (Direxion Daily MSFT Bull 2X Shares) and ARMG (Leverage Shares 2X Long ARM Daily ETF) are both Leveraged Equities funds. MSFU is passively managed, while ARMG is actively managed. Over the past year, MSFU returned -21.45% vs 507.81% for ARMG. At a 0.32 correlation, their price movements are largely independent. MSFU charges 1.04%/yr vs 0.75%/yr for ARMG.

Performance

MSFU vs. ARMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MSFT Bull 2X Shares (MSFU) and Leverage Shares 2X Long ARM Daily ETF (ARMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSFU achieves a -22.90% return, which is significantly lower than ARMG's 888.42% return.

MSFU

• 1D: -8.36%
• 1M: 12.13%
• YTD: -22.90%
• 6M: -25.88%
• 1Y: -21.45%
• 3Y*: 1.80%
• 5Y*: —
• 10Y*: —

ARMG

• 1D: -3.36%
• 1M: 219.03%
• YTD: 888.42%
• 6M: 521.40%
• 1Y: 507.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSFU vs. ARMG - Yearly Performance Comparison

	2026 (YTD)	2025
MSFU Direxion Daily MSFT Bull 2X Shares	-22.90%	17.07%
ARMG Leverage Shares 2X Long ARM Daily ETF	888.42%	-61.80%

Correlation

The correlation between MSFU and ARMG is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.32

The correlation between MSFU and ARMG shifts across timeframes, from 0.20 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MSFU vs. ARMG — Risk / Return Rank

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

MSFU

MSFU Risk / Return Rank: 5
MSFU Sharpe Ratio Rank: 5
MSFU Sortino Ratio Rank: 5
MSFU Omega Ratio Rank: 5
MSFU Calmar Ratio Rank: 5
MSFU Martin Ratio Rank: 5

ARMG

ARMG Risk / Return Rank: 83
ARMG Sharpe Ratio Rank: 95
ARMG Sortino Ratio Rank: 80
ARMG Omega Ratio Rank: 76
ARMG Calmar Ratio Rank: 94
ARMG Martin Ratio Rank: 71

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.

MSFU vs. ARMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSFT Bull 2X Shares (MSFU) and Leverage Shares 2X Long ARM Daily ETF (ARMG). 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.

	MSFU	ARMG	Difference
Sharpe ratio Return per unit of total volatility	-0.43	3.93	-4.37
Sortino ratio Return per unit of downside risk	-0.30	3.63	-3.93
Omega ratio Gain probability vs. loss probability	0.96	1.46	-0.50
Calmar ratio Return relative to maximum drawdown	-0.35	7.63	-7.98
Martin ratio Return relative to average drawdown	-0.67	13.49	-14.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSFU vs. ARMG - Sharpe Ratio Comparison

The current MSFU Sharpe Ratio is -0.43, which is lower than the ARMG Sharpe Ratio of 3.93. The chart below compares the historical Sharpe Ratios of MSFU and ARMG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MSFU	ARMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.43	3.93	-4.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	1.18	-0.94

Drawdowns

MSFU vs. ARMG - Drawdown Comparison

The maximum MSFU drawdown since its inception was -59.83%, smaller than the maximum ARMG drawdown of -80.28%. Use the drawdown chart below to compare losses from any high point for MSFU and ARMG.

Drawdown Indicators

	MSFU	ARMG	Difference
Max Drawdown Largest peak-to-trough decline	-59.83%	-80.28%	+20.45%
Max Drawdown (1Y) Largest decline over 1 year	-59.83%	-68.13%	+8.30%
Max Drawdown (3Y) Largest decline over 3 years	-59.83%	—	—
Current Drawdown Current decline from peak	-40.32%	-3.36%	-36.96%
Average Drawdown Average peak-to-trough decline	-16.48%	-53.19%	+36.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.83%	38.55%	-7.72%

Volatility

MSFU vs. ARMG - Volatility Comparison

The current volatility for Direxion Daily MSFT Bull 2X Shares (MSFU) is 18.49%, while Leverage Shares 2X Long ARM Daily ETF (ARMG) has a volatility of 66.04%. This indicates that MSFU experiences smaller price fluctuations and is considered to be less risky than ARMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFU	ARMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.49%	66.04%	-47.55%
Volatility (6M) Calculated over the trailing 6-month period	44.94%	103.87%	-58.93%
Volatility (1Y) Calculated over the trailing 1-year period	49.77%	130.25%	-80.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.23%	138.46%	-92.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.23%	138.46%	-92.23%

MSFU vs. ARMG - Expense Ratio Comparison

MSFU has a 1.04% expense ratio, which is higher than ARMG's 0.75% expense ratio.

Dividends

MSFU vs. ARMG - Dividend Comparison

MSFU's dividend yield for the trailing twelve months is around 10.26%, more than ARMG's 0.49% yield.

Position	TTM	2025	2024	2023	2022
ARMG Leverage Shares 2X Long ARM Daily ETF	0.49%	4.86%	0.00%	0.00%	0.00%
MSFU Direxion Daily MSFT Bull 2X Shares	10.26%	8.15%	7.00%	2.11%	0.54%

Frequently Asked Questions

Can I hold both MSFU and ARMG in my portfolio?

MSFU and ARMG have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSFU or ARMG?

ARMG has higher volatility (66.04%) compared to MSFU (18.49%). In terms of maximum drawdown, MSFU dropped -59.83% vs ARMG's -80.28%.

Which ETF is better, MSFU or ARMG?

On 1-year performance, ARMG leads with 507.81% vs -21.45% for MSFU. On fees, ARMG is cheaper at 0.75% per year. On volatility, MSFU has been the lower-risk option at 18.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFU or ARMG?

Over the 1-year period, ARMG has performed better with a 507.81% return vs -21.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFU or ARMG?

ARMG is cheaper with a 0.75% expense ratio, compared with 1.04% for MSFU.

Which ETF pays a higher dividend yield, MSFU or ARMG?

MSFU has the higher dividend yield at 10.26%, compared with 0.49% for ARMG.

What is the main difference between MSFU and ARMG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.04% for MSFU and 0.75% for ARMG.

Which has better risk-adjusted returns?

ARMG currently has the higher Sharpe Ratio (3.93 vs -0.43), 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.