MUU vs. WNTR

Last updated Aug 6, 2026

MUU (Direxion Daily MU Bull 2X Shares) and WNTR (YieldMax MSTR Short Option Income Strategy ETF) are both exchange-traded funds - MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily), while WNTR is a Derivative Income fund actively managed by YieldMax. MUU is passively managed, while WNTR is actively managed. Over the past year, MUU returned 3034.71% vs 100.15% for WNTR. Their -0.26 correlation means they have often moved in opposite directions in the past. MUU charges 1.01%/yr vs 1.00%/yr for WNTR.

Performance

MUU vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MU Bull 2X Shares (MUU) and YieldMax MSTR Short Option Income Strategy ETF (WNTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUU achieves a 451.56% return, which is significantly higher than WNTR's 6.73% return.

MUU

• 1D: 0.22%
• 1M: -27.29%
• 6M: 233.36%
• YTD: 451.56%
• 1Y: 3,034.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 458.18%

WNTR

• 1D: -1.10%
• 1M: 5.18%
• 6M: -1.23%
• YTD: 6.73%
• 1Y: 100.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 43.34%

*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)
MUU Direxion Daily MU Bull 2X Shares	$1.51B	$1.48B	$2.30B
WNTR YieldMax MSTR Short Option Income Strategy ETF	$4.24M	$3.75M	$3.99M

MUU vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
MUU Direxion Daily MU Bull 2X Shares	451.56%	560.13%
WNTR YieldMax MSTR Short Option Income Strategy ETF	6.73%	52.78%

Correlation

The correlation between MUU and WNTR is -0.27, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.27
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.26

Return for Risk

MUU vs. WNTR — Risk / Return Rank

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

MUU

MUU Risk / Return Rank: 98
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 96
MUU Calmar Ratio Rank: 99
MUU Martin Ratio Rank: 99

WNTR

WNTR Risk / Return Rank: 58
WNTR Sharpe Ratio Rank: 70
WNTR Sortino Ratio Rank: 55
WNTR Omega Ratio Rank: 58
WNTR Calmar Ratio Rank: 58
WNTR Martin Ratio Rank: 46

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.

MUU vs. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MU Bull 2X Shares (MUU) and YieldMax MSTR Short Option Income Strategy ETF (WNTR). 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.

	MUU	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	19.04	1.85	+17.19
Sortino ratio: Return per unit of downside risk	5.06	2.18	+2.87
Omega ratio: Gain probability vs. loss probability	1.63	1.29	+0.34
Calmar ratio: Return relative to maximum drawdown	45.22	2.36	+42.86
Martin ratio: Return relative to average drawdown	143.78	5.96	+137.82

MUU vs. WNTR - Sharpe Ratio Comparison

The current MUU Sharpe Ratio is 19.04, which is higher than the WNTR Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of MUU and WNTR, 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

MUU vs. WNTR - Drawdown Comparison

The maximum MUU drawdown since its inception was -75.07%, which is greater than WNTR's maximum drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for MUU and WNTR.

Drawdown Indicators

	MUU	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-75.07%	-42.65%	-32.42%
Max Drawdown (1Y) Largest decline over 1 year	-68.07%	-42.65%	-25.42%
Current Drawdown Current decline from peak	-55.06%	-12.93%	-42.13%
Average Drawdown Average peak-to-trough decline	-24.55%	-20.10%	-4.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.37%	16.86%	+4.51%

Volatility

MUU vs. WNTR - Volatility Comparison

Direxion Daily MU Bull 2X Shares (MUU) has a higher volatility of 62.67% compared to YieldMax MSTR Short Option Income Strategy ETF (WNTR) at 12.79%. This indicates that MUU's price experiences larger fluctuations and is considered to be riskier than WNTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUU	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	62.67%	12.79%	+49.88%
Volatility (6M) Calculated over the trailing 6-month period	133.72%	46.85%	+86.87%
Volatility (1Y) Calculated over the trailing 1-year period	161.71%	54.57%	+107.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	146.59%	53.24%	+93.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	146.59%	53.24%	+93.35%

MUU vs. WNTR - Expense Ratio Comparison

MUU has a 1.01% expense ratio, which is higher than WNTR's 1.00% expense ratio.

Dividends

MUU vs. WNTR - Dividend Comparison

MUU's dividend yield for the trailing twelve months is around 1.23%, less than WNTR's 111.06% yield.

Position	TTM	2025	2024
MUU Direxion Daily MU Bull 2X Shares	1.23%	4.27%	0.31%
WNTR YieldMax MSTR Short Option Income Strategy ETF	111.06%	58.56%	0.00%

Frequently Asked Questions

Can I hold both MUU and WNTR in my portfolio?

MUU and WNTR have a correlation of -0.27, 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 WNTR?

MUU has higher volatility (62.67%) compared to WNTR (12.79%). In terms of maximum drawdown, MUU dropped -75.07% vs WNTR's -42.65%.

Which ETF is better, MUU or WNTR?

On 1-year performance, MUU leads with 3034.71% vs 100.15% for WNTR. On fees, WNTR is cheaper at 1.00% per year. On volatility, WNTR has been the lower-risk option at 12.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MUU or WNTR?

Over the 1-year period, MUU has performed better with a 3034.71% return vs 100.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MUU or WNTR?

WNTR is cheaper with a 1.00% expense ratio, compared with 1.01% for MUU.

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

WNTR has the higher dividend yield at 111.06%, compared with 1.23% for MUU.

What is the main difference between MUU and WNTR?

MUU is categorized as Leveraged Equities, while WNTR is Derivative Income. They also come from different issuers: Direxion and YieldMax. Their fees differ too: 1.01% for MUU and 1.00% for WNTR.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (19.04 vs 1.85), 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.