MUD vs. AXTI

Last updated Jun 4, 2026

MUD (Direxion Daily MU Bear 1X Shares) is Inverse Equities fund actively managed by Direxion, while AXTI (AXT, Inc.) is a stock. Over the past year, MUD returned -93.62% vs 6085.51% for AXTI. At a correlation of -0.32, they often move in opposite directions.

Performance

MUD vs. AXTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MU Bear 1X Shares (MUD) and AXT, Inc. (AXTI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUD achieves a -79.58% return, which is significantly lower than AXTI's 552.60% return.

MUD

• 1D: -1.42%
• 1M: -51.85%
• YTD: -79.58%
• 6M: -83.74%
• 1Y: -93.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AXTI

• 1D: -3.74%
• 1M: 0.66%
• YTD: 552.60%
• 6M: 829.44%
• 1Y: 6,085.51%
• 3Y*: 212.99%
• 5Y*: 58.76%
• 10Y*: 40.50%

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

MUD vs. AXTI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MUD Direxion Daily MU Bear 1X Shares	-79.58%	-78.75%	19.12%
AXTI AXT, Inc.	552.60%	653.46%	-18.42%

Correlation

The correlation between MUD and AXTI is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.22
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024	-0.32

Return for Risk

MUD vs. AXTI — Risk / Return Rank

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

MUD

MUD Risk / Return Rank: 0
MUD Sharpe Ratio Rank: 0
MUD Sortino Ratio Rank: 0
MUD Omega Ratio Rank: 0
MUD Calmar Ratio Rank: 0
MUD Martin Ratio Rank: 1

AXTI

AXTI Risk / Return Rank: 99
AXTI Sharpe Ratio Rank: 100
AXTI Sortino Ratio Rank: 99
AXTI Omega Ratio Rank: 98
AXTI Calmar Ratio Rank: 100
AXTI Martin Ratio Rank: 100

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.

MUD vs. AXTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MU Bear 1X Shares (MUD) and AXT, Inc. (AXTI). 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.

	MUD	AXTI	Difference
Sharpe ratio: Return per unit of total volatility	-1.42	45.71	-47.13
Sortino ratio: Return per unit of downside risk	-4.38	6.96	-11.34
Omega ratio: Gain probability vs. loss probability	0.53	1.87	-1.34
Calmar ratio: Return relative to maximum drawdown	-1.00	160.12	-161.12
Martin ratio: Return relative to average drawdown	-1.52	490.82	-492.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MUD vs. AXTI - Sharpe Ratio Comparison

The current MUD Sharpe Ratio is -1.42, which is lower than the AXTI Sharpe Ratio of 45.71. The chart below compares the historical Sharpe Ratios of MUD and AXTI, 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

	MUD	AXTI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.42	45.71	-47.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.62	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.25	0.11	-1.36

Drawdowns

MUD vs. AXTI - Drawdown Comparison

The maximum MUD drawdown since its inception was -96.24%, roughly equal to the maximum AXTI drawdown of -98.57%. Use the drawdown chart below to compare losses from any high point for MUD and AXTI.

Drawdown Indicators

	MUD	AXTI	Difference
Max Drawdown Largest peak-to-trough decline	-96.24%	-98.57%	+2.33%
Max Drawdown (1Y) Largest decline over 1 year	-93.56%	-38.65%	-54.91%
Max Drawdown (3Y) Largest decline over 3 years	—	-78.52%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-90.57%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-92.45%	—
Current Drawdown Current decline from peak	-96.24%	-24.23%	-72.01%
Average Drawdown Average peak-to-trough decline	-50.32%	-82.33%	+32.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	61.84%	12.58%	+49.26%

Volatility

MUD vs. AXTI - Volatility Comparison

The current volatility for Direxion Daily MU Bear 1X Shares (MUD) is 31.94%, while AXT, Inc. (AXTI) has a volatility of 37.30%. This indicates that MUD experiences smaller price fluctuations and is considered to be less risky than AXTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUD	AXTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.94%	37.30%	-5.36%
Volatility (6M) Calculated over the trailing 6-month period	56.32%	112.04%	-55.72%
Volatility (1Y) Calculated over the trailing 1-year period	65.98%	135.60%	-69.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.05%	95.88%	-28.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.05%	82.31%	-15.26%

Dividends

MUD vs. AXTI - Dividend Comparison

MUD's dividend yield for the trailing twelve months is around 28.85%, while AXTI has not paid dividends to shareholders.

Position	TTM	2025	2024
AXTI AXT, Inc.	0.00%	0.00%	0.00%
MUD Direxion Daily MU Bear 1X Shares	28.85%	9.21%	0.47%

Frequently Asked Questions

Can I hold both MUD and AXTI in my portfolio?

MUD and AXTI have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MUD or AXTI?

AXTI has higher volatility (37.30%) compared to MUD (31.94%). In terms of maximum drawdown, MUD dropped -96.24% vs AXTI's -98.57%.

Which has better risk-adjusted returns?

AXTI currently has the higher Sharpe Ratio (45.71 vs -1.42), 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.