MUU vs. XTAP

Last updated Jun 24, 2026

MUU (Direxion Daily MU Bull 2X Shares) and XTAP (Innovator U.S. Equity Accelerated Plus ETF) are both Leveraged Equities funds. MUU is passively managed, while XTAP is actively managed. A 0.70 correlation means they provide meaningful diversification when combined. MUU charges 1.01%/yr vs 0.79%/yr for XTAP.

Performance

MUU vs. XTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MU Bull 2X Shares (MUU) and Innovator U.S. Equity Accelerated Plus ETF (XTAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MUU

• 1D: -26.28%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XTAP

• 1D: -0.56%
• 1M: -0.17%
• YTD: 10.29%
• 6M: 10.43%
• 1Y: 19.37%
• 3Y*: 17.09%
• 5Y*: 10.65%
• 10Y*: —

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

MUU vs. XTAP - Yearly Performance Comparison

	2026 (YTD)
MUU Direxion Daily MU Bull 2X Shares	-12.11%
XTAP Innovator U.S. Equity Accelerated Plus ETF	-0.91%

Correlation

The correlation between MUU and XTAP is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 16, 2026	0.70

Return for Risk

MUU vs. XTAP — Risk / Return Rank

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

MUU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

XTAP

XTAP Risk / Return Rank: 98
XTAP Sharpe Ratio Rank: 96
XTAP Sortino Ratio Rank: 98
XTAP Omega Ratio Rank: 98
XTAP Calmar Ratio Rank: 98
XTAP Martin Ratio Rank: 98

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. XTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MU Bull 2X Shares (MUU) and Innovator U.S. Equity Accelerated Plus ETF (XTAP). 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	XTAP	Difference
Sharpe ratio: Return per unit of total volatility	—	4.06	—
Sortino ratio: Return per unit of downside risk	—	6.76	—
Omega ratio: Gain probability vs. loss probability	—	2.05	—
Calmar ratio: Return relative to maximum drawdown	—	11.34	—
Martin ratio: Return relative to average drawdown	—	62.48	—

Drawdowns

MUU vs. XTAP - Drawdown Comparison

The maximum MUU drawdown since its inception was -26.28%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for MUU and XTAP.

Drawdown Indicators

	MUU	XTAP	Difference
Max Drawdown Largest peak-to-trough decline	-26.28%	-22.13%	-4.15%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.72%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-11.83%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.13%	—
Current Drawdown Current decline from peak	-26.28%	-0.91%	-25.37%
Average Drawdown Average peak-to-trough decline	-10.19%	-3.42%	-6.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.31%	—

Volatility

Volatility by Period

	MUU	XTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	295.32%	4.83%	+290.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	295.32%	14.55%	+280.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	295.32%	14.36%	+280.96%

MUU vs. XTAP - Expense Ratio Comparison

MUU has a 1.01% expense ratio, which is higher than XTAP's 0.79% expense ratio.

Dividends

MUU vs. XTAP - Dividend Comparison

Neither MUU nor XTAP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MUU and XTAP in my portfolio?

MUU and XTAP have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MUU or XTAP?

On fees, XTAP is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MUU or XTAP?

XTAP is cheaper with a 0.79% expense ratio, compared with 1.01% for MUU.

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

MUU and XTAP have nearly identical dividend yields, around 0.00%.

What is the main difference between MUU and XTAP?

They also come from different issuers: Direxion and Innovator. Their fees differ too: 1.01% for MUU and 0.79% for XTAP.