NVDB vs. MUU

Last updated Aug 2, 2026

NVDB (ProShares Ultra NVDA) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds - NVDB tracks the NVIDIA Corporation while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. Their 0.44 correlation means their historical movements had little consistent relationship. NVDB charges 0.95%/yr vs 1.01%/yr for MUU.

Performance

NVDB vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra NVDA (NVDB) 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, NVDB achieves a -1.03% return, which is significantly lower than MUU's 372.51% return.

NVDB

• 1D: 5.52%
• 1M: 3.80%
• 6M: -4.26%
• YTD: -1.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

MUU

• 1D: -12.24%
• 1M: -36.47%
• 6M: 134.93%
• YTD: 372.51%
• 1Y: 2,805.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 419.04%

*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	$1.57B	$2.27B
NVDB ProShares Ultra NVDA	$471.67K	$569.36K	$937.39K

NVDB vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
NVDB ProShares Ultra NVDA	-1.03%	1.98%
MUU Direxion Daily MU Bull 2X Shares	372.51%	281.48%

Correlation

The correlation between NVDB and MUU is 0.44, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 10, 2025	0.44

Return for Risk

NVDB vs. MUU — Risk / Return Rank

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

NVDB

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

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

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.

NVDB vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra NVDA (NVDB) 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.

	NVDB	MUU	Difference
Sharpe ratio: Return per unit of total volatility	—	16.13	—
Sortino ratio: Return per unit of downside risk	—	4.86	—
Omega ratio: Gain probability vs. loss probability	—	1.61	—
Calmar ratio: Return relative to maximum drawdown	—	38.27	—
Martin ratio: Return relative to average drawdown	—	127.21	—

Drawdowns

NVDB vs. MUU - Drawdown Comparison

The maximum NVDB drawdown since its inception was -42.89%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for NVDB and MUU.

Drawdown Indicators

	NVDB	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-42.89%	-75.07%	+32.18%
Max Drawdown (1Y) Largest decline over 1 year	—	-68.07%	—
Current Drawdown Current decline from peak	-31.90%	-61.50%	+29.60%
Average Drawdown Average peak-to-trough decline	-20.44%	-24.34%	+3.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	20.44%	—

Volatility

Volatility by Period

	NVDB	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	62.16%	—
Volatility (6M) Calculated over the trailing 6-month period	—	134.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	74.23%	161.94%	-87.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.23%	146.71%	-72.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.23%	146.71%	-72.48%

NVDB vs. MUU - Expense Ratio Comparison

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

Dividends

NVDB vs. MUU - Dividend Comparison

NVDB's dividend yield for the trailing twelve months is around 1.63%, more than MUU's 1.44% yield.

Position	TTM	2025	2024
MUU Direxion Daily MU Bull 2X Shares	1.44%	4.27%	0.31%
NVDB ProShares Ultra NVDA	1.63%	0.55%	0.00%

Frequently Asked Questions

Can I hold both NVDB and MUU in my portfolio?

NVDB and MUU have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NVDB or MUU?

On fees, NVDB 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, NVDB or MUU?

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

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

NVDB has the higher dividend yield at 1.63%, compared with 1.44% for MUU.

What is the main difference between NVDB and MUU?

NVDB tracks NVIDIA Corporation, while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for NVDB and 1.01% for MUU.