MVRL vs. MUU

Last updated Jul 12, 2026

MVRL (ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN) and MUU (Direxion Daily MU Bull 2X Shares) are both exchange-traded funds - MVRL is a REIT fund tracking the MVIS US Mortgage REITs Index (150%), while MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily). Both are passively managed. Over the past year, MVRL returned 9.22% vs 3083.51% for MUU. At a 0.22 correlation, their price movements are largely independent. MVRL charges 0.95%/yr vs 1.01%/yr for MUU.

Performance

MVRL vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVRL achieves a 1.71% return, which is significantly lower than MUU's 642.75% return.

MVRL

• 1D: 0.97%
• 1M: 4.39%
• 6M: -3.56%
• YTD: 1.71%
• 1Y: 9.22%
• 3Y*: 5.50%
• 5Y*: -7.33%
• 10Y*: —

MUU

• 1D: -2.52%
• 1M: -10.27%
• 6M: 421.21%
• YTD: 642.75%
• 1Y: 3,083.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MVRL vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN	1.71%	14.96%	-5.81%
MUU Direxion Daily MU Bull 2X Shares	642.75%	599.03%	-40.91%

Correlation

The correlation between MVRL and MUU is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	0.22

The correlation between MVRL and MUU shifts across timeframes, from 0.10 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MVRL vs. MUU — Risk / Return Rank

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

MVRL

MVRL Risk / Return Rank: 15
MVRL Sharpe Ratio Rank: 15
MVRL Sortino Ratio Rank: 15
MVRL Omega Ratio Rank: 15
MVRL Calmar Ratio Rank: 15
MVRL Martin Ratio Rank: 15

MUU

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

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.

MVRL vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) and Direxion Daily MU Bull 2X Shares (MUU). 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.

	MVRL	MUU	Difference
Sharpe ratio: Return per unit of total volatility	0.30	27.27	-26.97
Sortino ratio: Return per unit of downside risk	0.60	5.80	-5.20
Omega ratio: Gain probability vs. loss probability	1.07	1.72	-0.65
Calmar ratio: Return relative to maximum drawdown	0.39	75.03	-74.64
Martin ratio: Return relative to average drawdown	0.97	245.78	-244.80

MVRL vs. MUU - Sharpe Ratio Comparison

The current MVRL Sharpe Ratio is 0.30, which is lower than the MUU Sharpe Ratio of 27.27. The chart below compares the historical Sharpe Ratios of MVRL and MUU, 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

MVRL vs. MUU - Drawdown Comparison

The maximum MVRL drawdown since its inception was -60.25%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for MVRL and MUU.

Drawdown Indicators

	MVRL	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-60.25%	-75.07%	+14.82%
Max Drawdown (1Y) Largest decline over 1 year	-20.93%	-52.72%	+31.79%
Max Drawdown (3Y) Largest decline over 3 years	-32.20%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-59.63%	—	—
Current Drawdown Current decline from peak	-35.54%	-30.01%	-5.53%
Average Drawdown Average peak-to-trough decline	-31.88%	-23.40%	-8.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.40%	16.41%	-8.01%

Volatility

MVRL vs. MUU - Volatility Comparison

The current volatility for ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) is 6.28%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 67.23%. This indicates that MVRL experiences smaller price fluctuations and is considered to be less risky than MUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVRL	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.28%	67.23%	-60.95%
Volatility (6M) Calculated over the trailing 6-month period	20.50%	116.08%	-95.58%
Volatility (1Y) Calculated over the trailing 1-year period	27.51%	145.04%	-117.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.49%	138.03%	-101.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.49%	138.03%	-100.54%

MVRL vs. MUU - Expense Ratio Comparison

MVRL has a 0.95% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

MVRL vs. MUU - Dividend Comparison

MVRL's dividend yield for the trailing twelve months is around 19.96%, more than MUU's 0.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
MUU Direxion Daily MU Bull 2X Shares	0.64%	4.27%	0.31%	0.00%	0.00%	0.00%	0.00%
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN	19.96%	19.15%	19.27%	18.69%	25.21%	12.33%	5.63%

Frequently Asked Questions

Can I hold both MVRL and MUU in my portfolio?

MVRL and MUU have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVRL or MUU?

MUU has higher volatility (67.23%) compared to MVRL (6.28%). In terms of maximum drawdown, MVRL dropped -60.25% vs MUU's -75.07%.

Which ETF is better, MVRL or MUU?

On 1-year performance, MUU leads with 3083.51% vs 9.22% for MVRL. On fees, MVRL is cheaper at 0.95% per year. On volatility, MVRL has been the lower-risk option at 6.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVRL or MUU?

Over the 1-year period, MUU has performed better with a 3083.51% return vs 9.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVRL or MUU?

MVRL is cheaper with a 0.95% expense ratio, compared with 1.01% for MUU.

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

MVRL has the higher dividend yield at 19.96%, compared with 0.64% for MUU.

What is the main difference between MVRL and MUU?

MVRL is categorized as REIT, while MUU is Leveraged Equities. MVRL tracks MVIS US Mortgage REITs Index (150%), while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: UBS and Direxion. Their fees differ too: 0.95% for MVRL and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (27.27 vs 0.30), 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.