MVV vs. MUU

Last updated Jun 24, 2026

MVV (ProShares Ultra Midcap 400) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds - MVV tracks the S&P MidCap 400 Index (200%) while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. A 0.70 correlation means they provide meaningful diversification when combined. MVV charges 0.95%/yr vs 1.01%/yr for MUU.

Performance

MVV vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Midcap 400 (MVV) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MVV

• 1D: -1.88%
• 1M: 5.08%
• YTD: 26.73%
• 6M: 22.00%
• 1Y: 44.27%
• 3Y*: 22.25%
• 5Y*: 7.15%
• 10Y*: 14.42%

MUU

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

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

MVV vs. MUU - Yearly Performance Comparison

	2026 (YTD)
MVV ProShares Ultra Midcap 400	-2.08%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between MVV and MUU 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

MVV vs. MUU — Risk / Return Rank

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

MVV

MVV Risk / Return Rank: 46
MVV Sharpe Ratio Rank: 42
MVV Sortino Ratio Rank: 42
MVV Omega Ratio Rank: 39
MVV Calmar Ratio Rank: 54
MVV Martin Ratio Rank: 53

MUU

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

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.

MVV vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Midcap 400 (MVV) 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.

	MVV	MUU	Difference
Sharpe ratio: Return per unit of total volatility	1.40	—	—
Sortino ratio: Return per unit of downside risk	2.03	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	2.52	—	—
Martin ratio: Return relative to average drawdown	8.62	—	—

Drawdowns

MVV vs. MUU - Drawdown Comparison

The maximum MVV drawdown since its inception was -85.54%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for MVV and MUU.

Drawdown Indicators

	MVV	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-85.54%	-26.28%	-59.26%
Max Drawdown (1Y) Largest decline over 1 year	-17.68%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-44.80%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-45.53%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.19%	—	—
Current Drawdown Current decline from peak	-2.08%	-26.28%	+24.20%
Average Drawdown Average peak-to-trough decline	-20.50%	-10.19%	-10.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.15%	—	—

Volatility

Volatility by Period

	MVV	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.48%	—	—
Volatility (6M) Calculated over the trailing 6-month period	23.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	31.88%	295.32%	-263.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.67%	295.32%	-255.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.34%	295.32%	-252.98%

MVV vs. MUU - Expense Ratio Comparison

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

Dividends

MVV vs. MUU - Dividend Comparison

MVV's dividend yield for the trailing twelve months is around 0.67%, while MUU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MUU Direxion Daily MU Bull 2X Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MVV ProShares Ultra Midcap 400	0.67%	0.77%	0.39%	0.77%	0.93%	0.16%	0.29%	0.62%	0.62%	0.21%	0.43%	0.17%

Frequently Asked Questions

Can I hold both MVV and MUU in my portfolio?

MVV and MUU 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, MVV or MUU?

On fees, MVV is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MVV or MUU?

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

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

MVV has the higher dividend yield at 0.67%, compared with 0.00% for MUU.

What is the main difference between MVV and MUU?

MVV tracks S&P MidCap 400 Index (200%), while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for MVV and 1.01% for MUU.