MUD vs. YQQQ

Last updated Aug 5, 2026

MUD (Direxion Daily MU Bear 1X Shares) and YQQQ (YieldMax Short N100 Option Income Strategy ETF) are both exchange-traded funds - MUD is a Inverse Equities fund actively managed by Direxion, while YQQQ is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, MUD returned -93.46% vs -8.89% for YQQQ. Their 0.61 correlation means they have sometimes moved together and sometimes differently. MUD charges 0.97%/yr vs 0.99%/yr for YQQQ.

Performance

MUD vs. YQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MU Bear 1X Shares (MUD) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUD achieves a -80.35% return, which is significantly lower than YQQQ's -6.51% return.

MUD

• 1D: -7.66%
• 1M: -0.79%
• 6M: -69.73%
• YTD: -80.35%
• 1Y: -93.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -80.86%

YQQQ

• 1D: -3.25%
• 1M: -0.65%
• 6M: -8.29%
• YTD: -6.51%
• 1Y: -8.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -10.82%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MUD Direxion Daily MU Bear 1X Shares	$176.35M	$166.22M	$199.88M
YQQQ YieldMax Short N100 Option Income Strategy ETF	$673.44K	$501.36K	$591.79K

MUD vs. YQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MUD Direxion Daily MU Bear 1X Shares	-80.35%	-78.75%	19.12%
YQQQ YieldMax Short N100 Option Income Strategy ETF	-6.51%	-9.97%	-0.40%

Correlation

The correlation between MUD and YQQQ is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.62
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	0.61

The correlation between MUD and YQQQ has been stable across timeframes, ranging from 0.61 to 0.62 - a consistent structural relationship.

Return for Risk

MUD vs. YQQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MUD

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

YQQQ

YQQQ Risk / Return Rank: 4
YQQQ Sharpe Ratio Rank: 4
YQQQ Sortino Ratio Rank: 4
YQQQ Omega Ratio Rank: 4
YQQQ Calmar Ratio Rank: 6
YQQQ Martin Ratio Rank: 5

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MUD vs. YQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MU Bear 1X Shares (MUD) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). 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	YQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-1.15	-0.61	-0.54
Sortino ratio: Return per unit of downside risk	-3.54	-0.76	-2.78
Omega ratio: Gain probability vs. loss probability	0.61	0.91	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.99	-0.41	-0.58
Martin ratio: Return relative to average drawdown	-1.32	-0.88	-0.44

MUD vs. YQQQ - Sharpe Ratio Comparison

The current MUD Sharpe Ratio is -1.15, which is lower than the YQQQ Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of MUD and YQQQ, 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. YQQQ - Drawdown Comparison

The maximum MUD drawdown since its inception was -97.03%, which is greater than YQQQ's maximum drawdown of -29.10%. Use the drawdown chart below to compare losses from any high point for MUD and YQQQ.

Drawdown Indicators

	MUD	YQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-97.03%	-29.10%	-67.93%
Max Drawdown (1Y) Largest decline over 1 year	-94.56%	-21.80%	-72.76%
Current Drawdown Current decline from peak	-96.38%	-26.25%	-70.13%
Average Drawdown Average peak-to-trough decline	-54.46%	-15.19%	-39.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	71.10%	10.09%	+61.01%

Volatility

MUD vs. YQQQ - Volatility Comparison

Direxion Daily MU Bear 1X Shares (MUD) has a higher volatility of 33.65% compared to YieldMax Short N100 Option Income Strategy ETF (YQQQ) at 5.53%. This indicates that MUD's price experiences larger fluctuations and is considered to be riskier than YQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUD	YQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.65%	5.53%	+28.12%
Volatility (6M) Calculated over the trailing 6-month period	70.44%	12.40%	+58.04%
Volatility (1Y) Calculated over the trailing 1-year period	81.08%	14.63%	+66.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.63%	16.68%	+56.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.63%	16.68%	+56.95%

MUD vs. YQQQ - Expense Ratio Comparison

MUD has a 0.97% expense ratio, which is lower than YQQQ's 0.99% expense ratio.

Dividends

MUD vs. YQQQ - Dividend Comparison

MUD's dividend yield for the trailing twelve months is around 12.46%, less than YQQQ's 30.23% yield.

Position	TTM	2025	2024
MUD Direxion Daily MU Bear 1X Shares	12.46%	9.21%	0.47%
YQQQ YieldMax Short N100 Option Income Strategy ETF	30.23%	31.71%	7.88%

Frequently Asked Questions

Can I hold both MUD and YQQQ in my portfolio?

MUD and YQQQ have a correlation of 0.62, 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 YQQQ?

MUD has higher volatility (33.65%) compared to YQQQ (5.53%). In terms of maximum drawdown, MUD dropped -97.03% vs YQQQ's -29.10%.

Which ETF is better, MUD or YQQQ?

On 1-year performance, YQQQ leads with -8.89% vs -93.46% for MUD. On fees, MUD is cheaper at 0.97% per year. On volatility, YQQQ has been the lower-risk option at 5.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MUD or YQQQ?

Over the 1-year period, YQQQ has performed better with a -8.89% return vs -93.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MUD or YQQQ?

MUD is cheaper with a 0.97% expense ratio, compared with 0.99% for YQQQ.

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

YQQQ has the higher dividend yield at 30.23%, compared with 12.46% for MUD.

What is the main difference between MUD and YQQQ?

MUD is categorized as Inverse Equities, while YQQQ is Derivative Income. They also come from different issuers: Direxion and YieldMax. Their fees differ too: 0.97% for MUD and 0.99% for YQQQ.

Which has better risk-adjusted returns?

YQQQ currently has the higher Sharpe Ratio (-0.61 vs -1.15), 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.