MUD vs. QQQE

Last updated Jul 15, 2026

MUD (Direxion Daily MU Bear 1X Shares) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both exchange-traded funds - MUD is a Inverse Equities fund actively managed by Direxion, while QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index. MUD is actively managed, while QQQE is passively managed. Over the past year, MUD returned -92.87% vs 21.43% for QQQE. At a correlation of -0.60, they often move in opposite directions. MUD charges 0.97%/yr vs 0.35%/yr for QQQE.

Performance

MUD vs. QQQE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MU Bear 1X Shares (MUD) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUD achieves a -80.49% return, which is significantly lower than QQQE's 16.90% return.

MUD

• 1D: -4.98%
• 1M: -8.95%
• 6M: -76.32%
• YTD: -80.49%
• 1Y: -92.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQE

• 1D: 0.06%
• 1M: -0.20%
• 6M: 14.19%
• YTD: 16.90%
• 1Y: 21.43%
• 3Y*: 15.58%
• 5Y*: 9.08%
• 10Y*: 15.02%

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

MUD vs. QQQE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MUD Direxion Daily MU Bear 1X Shares	-80.49%	-78.75%	19.12%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	16.90%	14.58%	-1.26%

Correlation

The correlation between MUD and QQQE is -0.56, 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	-0.56
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	-0.60

The correlation between MUD and QQQE has been stable across timeframes, ranging from -0.60 to -0.56 - a consistent structural relationship.

Return for Risk

MUD vs. QQQE — Risk / Return Rank

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

MUD

MUD Risk / Return Rank: 1
MUD Sharpe Ratio Rank: 0
MUD Sortino Ratio Rank: 0
MUD Omega Ratio Rank: 0
MUD Calmar Ratio Rank: 0
MUD Martin Ratio Rank: 2

QQQE

QQQE Risk / Return Rank: 51
QQQE Sharpe Ratio Rank: 49
QQQE Sortino Ratio Rank: 47
QQQE Omega Ratio Rank: 46
QQQE Calmar Ratio Rank: 57
QQQE Martin Ratio Rank: 55

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. QQQE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MU Bear 1X Shares (MUD) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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.

	MUD	QQQE	Difference
Sharpe ratio: Return per unit of total volatility	-1.23	1.36	-2.59
Sortino ratio: Return per unit of downside risk	-3.70	1.91	-5.60
Omega ratio: Gain probability vs. loss probability	0.60	1.24	-0.64
Calmar ratio: Return relative to maximum drawdown	-0.98	2.29	-3.27
Martin ratio: Return relative to average drawdown	-1.36	7.56	-8.93

MUD vs. QQQE - Sharpe Ratio Comparison

The current MUD Sharpe Ratio is -1.23, which is lower than the QQQE Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of MUD and QQQE, 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

MUD vs. QQQE - Drawdown Comparison

The maximum MUD drawdown since its inception was -97.03%, which is greater than QQQE's maximum drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for MUD and QQQE.

Drawdown Indicators

	MUD	QQQE	Difference
Max Drawdown Largest peak-to-trough decline	-97.03%	-32.14%	-64.89%
Max Drawdown (1Y) Largest decline over 1 year	-94.76%	-9.41%	-85.35%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.14%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.14%	—
Current Drawdown Current decline from peak	-96.41%	-2.70%	-93.71%
Average Drawdown Average peak-to-trough decline	-53.04%	-5.14%	-47.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	67.99%	2.84%	+65.15%

Volatility

MUD vs. QQQE - Volatility Comparison

Direxion Daily MU Bear 1X Shares (MUD) has a higher volatility of 32.91% compared to Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) at 5.75%. This indicates that MUD's price experiences larger fluctuations and is considered to be riskier than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUD	QQQE	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.91%	5.75%	+27.16%
Volatility (6M) Calculated over the trailing 6-month period	64.59%	12.90%	+51.69%
Volatility (1Y) Calculated over the trailing 1-year period	76.00%	15.83%	+60.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.22%	20.58%	+50.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.22%	20.75%	+50.47%

MUD vs. QQQE - Expense Ratio Comparison

MUD has a 0.97% expense ratio, which is higher than QQQE's 0.35% expense ratio.

Dividends

MUD vs. QQQE - Dividend Comparison

MUD's dividend yield for the trailing twelve months is around 12.55%, more than QQQE's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MUD Direxion Daily MU Bear 1X Shares	12.55%	9.21%	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	0.57%	0.52%	0.86%	0.79%	0.98%	3.83%	0.54%	0.74%	0.80%	0.65%	1.17%	0.57%

Frequently Asked Questions

Can I hold both MUD and QQQE in my portfolio?

MUD and QQQE have a correlation of -0.56, 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 QQQE?

MUD has higher volatility (32.91%) compared to QQQE (5.75%). In terms of maximum drawdown, MUD dropped -97.03% vs QQQE's -32.14%.

Which ETF is better, MUD or QQQE?

On 1-year performance, QQQE leads with 21.43% vs -92.87% for MUD. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 5.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MUD or QQQE?

Over the 1-year period, QQQE has performed better with a 21.43% return vs -92.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MUD or QQQE?

QQQE is cheaper with a 0.35% expense ratio, compared with 0.97% for MUD.

Which ETF pays a higher dividend yield, MUD or QQQE?

MUD has the higher dividend yield at 12.55%, compared with 0.57% for QQQE.

What is the main difference between MUD and QQQE?

MUD is categorized as Inverse Equities, while QQQE is Nasdaq-100. Their fees differ too: 0.97% for MUD and 0.35% for QQQE.

Which has better risk-adjusted returns?

QQQE currently has the higher Sharpe Ratio (1.36 vs -1.23), 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.