MUU vs. SOXS

Last updated Jun 4, 2026

MUU (Direxion Daily MU Bull 2X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both Leveraged Equities funds from Direxion. MUU is actively managed, while SOXS is passively managed. Over the past year, MUU returned 6522.95% vs -97.75% for SOXS. At a correlation of -0.74, they often move in opposite directions. MUU charges 1.06%/yr vs 1.08%/yr for SOXS.

Performance

MUU vs. SOXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MU Bull 2X Shares (MUU) and Direxion Daily Semiconductor Bear 3x Shares (SOXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUU achieves a 961.23% return, which is significantly higher than SOXS's -92.10% return.

MUU

• 1D: 3.08%
• 1M: 218.90%
• YTD: 961.23%
• 6M: 1,422.01%
• 1Y: 6,522.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXS

• 1D: -5.03%
• 1M: -62.97%
• YTD: -92.10%
• 6M: -91.70%
• 1Y: -97.75%
• 3Y*: -86.64%
• 5Y*: -79.66%
• 10Y*: -78.92%

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

MUU vs. SOXS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MUU Direxion Daily MU Bull 2X Shares	961.23%	599.03%	-43.09%
SOXS Direxion Daily Semiconductor Bear 3x Shares	-92.10%	-85.53%	17.36%

Correlation

The correlation between MUU and SOXS is -0.68, 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	-0.68
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024	-0.74

The correlation between MUU and SOXS has been stable across timeframes, ranging from -0.74 to -0.68 - a consistent structural relationship.

Return for Risk

MUU vs. SOXS — Risk / Return Rank

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

MUU

MUU Risk / Return Rank: 99
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 98
MUU Omega Ratio Rank: 97
MUU Calmar Ratio Rank: 100
MUU Martin Ratio Rank: 100

SOXS

SOXS Risk / Return Rank: 1
SOXS Sharpe Ratio Rank: 1
SOXS Sortino Ratio Rank: 0
SOXS Omega Ratio Rank: 0
SOXS Calmar Ratio Rank: 0
SOXS 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.

MUU vs. SOXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MU Bull 2X Shares (MUU) and Direxion Daily Semiconductor Bear 3x Shares (SOXS). 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.

	MUU	SOXS	Difference
Sharpe ratio: Return per unit of total volatility	50.40	-0.96	+51.36
Sortino ratio: Return per unit of downside risk	7.17	-3.94	+11.12
Omega ratio: Gain probability vs. loss probability	1.91	0.58	+1.33
Calmar ratio: Return relative to maximum drawdown	125.85	-1.00	+126.85
Martin ratio: Return relative to average drawdown	426.84	-1.44	+428.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MUU vs. SOXS - Sharpe Ratio Comparison

The current MUU Sharpe Ratio is 50.40, which is higher than the SOXS Sharpe Ratio of -0.96. The chart below compares the historical Sharpe Ratios of MUU and SOXS, 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

	MUU	SOXS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	50.40	-0.96	+51.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.74	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	6.68	-0.79	+7.47

Drawdowns

MUU vs. SOXS - Drawdown Comparison

The maximum MUU drawdown since its inception was -75.07%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for MUU and SOXS.

Drawdown Indicators

	MUU	SOXS	Difference
Max Drawdown Largest peak-to-trough decline	-75.07%	-100.00%	+24.93%
Max Drawdown (1Y) Largest decline over 1 year	-52.72%	-97.68%	+44.96%
Max Drawdown (3Y) Largest decline over 3 years	—	-99.80%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-99.97%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-100.00%	—
Current Drawdown Current decline from peak	0.00%	-100.00%	+100.00%
Average Drawdown Average peak-to-trough decline	-23.44%	-92.60%	+69.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.51%	68.64%	-53.13%

Volatility

MUU vs. SOXS - Volatility Comparison

Direxion Daily MU Bull 2X Shares (MUU) has a higher volatility of 54.78% compared to Direxion Daily Semiconductor Bear 3x Shares (SOXS) at 44.22%. This indicates that MUU's price experiences larger fluctuations and is considered to be riskier than SOXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUU	SOXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	54.78%	44.22%	+10.56%
Volatility (6M) Calculated over the trailing 6-month period	105.07%	83.94%	+21.13%
Volatility (1Y) Calculated over the trailing 1-year period	131.77%	102.18%	+29.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	133.67%	108.21%	+25.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	133.67%	100.48%	+33.19%

MUU vs. SOXS - Expense Ratio Comparison

MUU has a 1.06% expense ratio, which is lower than SOXS's 1.08% expense ratio.

Dividends

MUU vs. SOXS - Dividend Comparison

MUU's dividend yield for the trailing twelve months is around 0.46%, less than SOXS's 68.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MUU Direxion Daily MU Bull 2X Shares	0.46%	4.27%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SOXS Direxion Daily Semiconductor Bear 3x Shares	68.34%	10.79%	5.45%	9.22%	0.19%	0.00%	3.58%	2.30%	0.76%

Frequently Asked Questions

Can I hold both MUU and SOXS in my portfolio?

MUU and SOXS have a correlation of -0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MUU or SOXS?

MUU has higher volatility (54.78%) compared to SOXS (44.22%). In terms of maximum drawdown, MUU dropped -75.07% vs SOXS's -100.00%.

Which ETF is better, MUU or SOXS?

On 1-year performance, MUU leads with 6522.95% vs -97.75% for SOXS. On fees, MUU is cheaper at 1.06% per year. On volatility, SOXS has been the lower-risk option at 44.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MUU or SOXS?

Over the 1-year period, MUU has performed better with a 6522.95% return vs -97.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MUU or SOXS?

MUU is cheaper with a 1.06% expense ratio, compared with 1.08% for SOXS.

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

SOXS has the higher dividend yield at 68.34%, compared with 0.46% for MUU.

What is the main difference between MUU and SOXS?

Their fees differ too: 1.06% for MUU and 1.08% for SOXS.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (50.40 vs -0.96), 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.