MUD vs. ZIVB

Last updated Jun 4, 2026

MUD (Direxion Daily MU Bear 1X Shares) and ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) are both Inverse Equities funds. Both are actively managed. MUD charges 0.97%/yr vs 1.35%/yr for ZIVB.

Performance

MUD vs. ZIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MU Bear 1X Shares (MUD) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MUD

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

ZIVB

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MUD vs. ZIVB - Yearly Performance Comparison

	2026 (YTD)
MUD Direxion Daily MU Bear 1X Shares	-15.06%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	0.00%

Return for Risk

MUD vs. ZIVB — 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

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. ZIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MU Bear 1X Shares (MUD) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). 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	ZIVB	Difference
Sharpe ratio: Return per unit of total volatility	-1.42	—	—
Sortino ratio: Return per unit of downside risk	-4.38	—	—
Omega ratio: Gain probability vs. loss probability	0.53	—	—
Calmar ratio: Return relative to maximum drawdown	-1.00	—	—
Martin ratio: Return relative to average drawdown	-1.52	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MUD	ZIVB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.25	—	—

Drawdowns

MUD vs. ZIVB - Drawdown Comparison

The maximum MUD drawdown since its inception was -96.24%, which is greater than ZIVB's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for MUD and ZIVB.

Drawdown Indicators

	MUD	ZIVB	Difference
Max Drawdown Largest peak-to-trough decline	-96.24%	0.00%	-96.24%
Max Drawdown (1Y) Largest decline over 1 year	-93.56%	—	—
Current Drawdown Current decline from peak	-96.24%	0.00%	-96.24%
Average Drawdown Average peak-to-trough decline	-50.32%	0.00%	-50.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	61.84%	—	—

Volatility

Volatility by Period

	MUD	ZIVB	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.94%	—	—
Volatility (6M) Calculated over the trailing 6-month period	56.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	65.98%	0.00%	+65.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.05%	0.00%	+67.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.05%	0.00%	+67.05%

MUD vs. ZIVB - Expense Ratio Comparison

MUD has a 0.97% expense ratio, which is lower than ZIVB's 1.35% expense ratio.

Dividends

MUD vs. ZIVB - Dividend Comparison

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

Position	TTM	2025	2024
MUD Direxion Daily MU Bear 1X Shares	28.85%	9.21%	0.47%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, MUD or ZIVB?

On fees, MUD is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MUD or ZIVB?

MUD is cheaper with a 0.97% expense ratio, compared with 1.35% for ZIVB.

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

MUD has the higher dividend yield at 28.85%, compared with 0.00% for ZIVB.

What is the main difference between MUD and ZIVB?

They also come from different issuers: Direxion and Volatility Shares. Their fees differ too: 0.97% for MUD and 1.35% for ZIVB.