MSTP vs. MUU

Last updated Jun 25, 2026

MSTP (GraniteShares 2x Long MSTR Daily ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. MSTP is actively managed, while MUU is passively managed. A 0.54 correlation means they provide meaningful diversification when combined. MSTP charges 1.50%/yr vs 1.01%/yr for MUU.

Performance

MSTP vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MSTR Daily ETF (MSTP) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MSTP

• 1D: -18.67%
• 1M: -67.93%
• YTD: -75.04%
• 6M: -77.32%
• 1Y: -97.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: -0.64%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTP vs. MUU - Yearly Performance Comparison

	2026 (YTD)
MSTP GraniteShares 2x Long MSTR Daily ETF	-49.62%
MUU Direxion Daily MU Bull 2X Shares	-12.53%

Correlation

The correlation between MSTP and MUU is 0.54, 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 Jun 16, 2026	0.54

Return for Risk

MSTP vs. MUU — Risk / Return Rank

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

MSTP

MSTP Risk / Return Rank: 2
MSTP Sharpe Ratio Rank: 4
MSTP Sortino Ratio Rank: 0
MSTP Omega Ratio Rank: 0
MSTP Calmar Ratio Rank: 0
MSTP Martin Ratio Rank: 3

MUU

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

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.

MSTP vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MSTR Daily ETF (MSTP) 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.

	MSTP	MUU	Difference
Sharpe ratio: Return per unit of total volatility	-0.67	—	—
Sortino ratio: Return per unit of downside risk	-2.32	—	—
Omega ratio: Gain probability vs. loss probability	0.76	—	—
Calmar ratio: Return relative to maximum drawdown	-0.99	—	—
Martin ratio: Return relative to average drawdown	-1.25	—	—

Drawdowns

MSTP vs. MUU - Drawdown Comparison

The maximum MSTP drawdown since its inception was -97.87%, which is greater than MUU's maximum drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for MSTP and MUU.

Drawdown Indicators

	MSTP	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-97.87%	-26.63%	-71.24%
Max Drawdown (1Y) Largest decline over 1 year	-97.87%	—	—
Current Drawdown Current decline from peak	-97.87%	-26.63%	-71.24%
Average Drawdown Average peak-to-trough decline	-69.83%	-12.91%	-56.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	77.68%	—	—

Volatility

Volatility by Period

	MSTP	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	46.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	116.92%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	145.04%	263.57%	-118.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	142.60%	263.57%	-120.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	142.60%	263.57%	-120.97%

MSTP vs. MUU - Expense Ratio Comparison

MSTP has a 1.50% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

MSTP vs. MUU - Dividend Comparison

MSTP has not paid dividends to shareholders, while MUU's dividend yield for the trailing twelve months is around 0.23%.

Position	TTM
MSTP GraniteShares 2x Long MSTR Daily ETF	0.00%
MUU Direxion Daily MU Bull 2X Shares	0.23%

Frequently Asked Questions

Can I hold both MSTP and MUU in my portfolio?

MSTP and MUU have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSTP or MUU?

On fees, MUU is cheaper at 1.01% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSTP or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.50% for MSTP.

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

MUU has the higher dividend yield at 0.23%, compared with 0.00% for MSTP.

What is the main difference between MSTP and MUU?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for MSTP and 1.01% for MUU.