NVDB vs. MUU

Last updated Jun 6, 2026

NVDB (ProShares Ultra NVDA) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. NVDB is passively managed, while MUU is actively managed. At a 0.43 correlation, their price movements are largely independent. NVDB charges 0.95%/yr vs 1.06%/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 8.52% return, which is significantly lower than MUU's 558.99% return.

NVDB

• 1D: -11.96%
• 1M: -4.46%
• YTD: 8.52%
• 6M: 12.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: -26.65%
• 1M: 50.22%
• YTD: 558.99%
• 6M: 826.13%
• 1Y: 3,710.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDB vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
NVDB ProShares Ultra NVDA	8.52%	2.15%
MUU Direxion Daily MU Bull 2X Shares	558.99%	256.79%

Correlation

The correlation between NVDB and MUU is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 11, 2025	0.43

Return for Risk

NVDB vs. MUU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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: 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.

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.

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

Sharpe Ratios by Period

	NVDB	MUU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	27.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	4.68	-4.47

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	—	-52.72%	—
Current Drawdown Current decline from peak	-25.33%	-37.90%	+12.57%
Average Drawdown Average peak-to-trough decline	-18.84%	-23.45%	+4.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	15.73%	—

Volatility

Volatility by Period

	NVDB	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	66.40%	—
Volatility (6M) Calculated over the trailing 6-month period	—	111.50%	—
Volatility (1Y) Calculated over the trailing 1-year period	74.10%	135.81%	-61.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.10%	135.74%	-61.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.10%	135.74%	-61.64%

NVDB vs. MUU - Expense Ratio Comparison

NVDB has a 0.95% expense ratio, which is lower than MUU's 1.06% expense ratio.

Dividends

NVDB vs. MUU - Dividend Comparison

NVDB's dividend yield for the trailing twelve months is around 1.00%, more than MUU's 0.73% yield.

Position	TTM	2025	2024
MUU Direxion Daily MU Bull 2X Shares	0.73%	4.27%	0.31%
NVDB ProShares Ultra NVDA	1.00%	0.55%	0.00%

Frequently Asked Questions

Can I hold both NVDB and MUU in my portfolio?

NVDB and MUU have a correlation of 0.43, 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 1.06% for MUU.

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

NVDB has the higher dividend yield at 1.00%, compared with 0.73% for MUU.

What is the main difference between NVDB and MUU?

They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for NVDB and 1.06% for MUU.