NVDD vs. MUU

Last updated Jun 24, 2026

NVDD (Direxion Daily NVDA Bear 1X Shares) and MUU (Direxion Daily MU Bull 2X Shares) are both exchange-traded funds - NVDD is a Inverse Equities fund actively managed by Direxion, while MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily). NVDD is actively managed, while MUU is passively managed. At a correlation of -1.00, they often move in opposite directions. Both charge a 1.01% expense ratio.

Performance

NVDD vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NVDA Bear 1X Shares (NVDD) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NVDD

• 1D: 3.37%
• 1M: 5.55%
• YTD: -10.62%
• 6M: -9.15%
• 1Y: -31.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

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

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

NVDD vs. MUU - Yearly Performance Comparison

	2026 (YTD)
NVDD Direxion Daily NVDA Bear 1X Shares	5.25%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between NVDD and MUU is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 16, 2026	-1.00

Return for Risk

NVDD vs. MUU — Risk / Return Rank

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

NVDD

NVDD Risk / Return Rank: 2
NVDD Sharpe Ratio Rank: 2
NVDD Sortino Ratio Rank: 2
NVDD Omega Ratio Rank: 2
NVDD Calmar Ratio Rank: 2
NVDD Martin Ratio Rank: 1

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.

NVDD vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NVDA Bear 1X Shares (NVDD) 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.

	NVDD	MUU	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	—	—
Sortino ratio: Return per unit of downside risk	-1.24	—	—
Omega ratio: Gain probability vs. loss probability	0.86	—	—
Calmar ratio: Return relative to maximum drawdown	-0.81	—	—
Martin ratio: Return relative to average drawdown	-1.44	—	—

Drawdowns

NVDD vs. MUU - Drawdown Comparison

The maximum NVDD drawdown since its inception was -88.34%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for NVDD and MUU.

Drawdown Indicators

	NVDD	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-88.34%	-26.28%	-62.06%
Max Drawdown (1Y) Largest decline over 1 year	-39.32%	—	—
Current Drawdown Current decline from peak	-86.54%	-26.28%	-60.26%
Average Drawdown Average peak-to-trough decline	-67.31%	-10.19%	-57.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.19%	—	—

Volatility

Volatility by Period

	NVDD	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	26.79%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	35.31%	295.32%	-260.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.36%	295.32%	-247.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.36%	295.32%	-247.96%

NVDD vs. MUU - Expense Ratio Comparison

Both NVDD and MUU have an expense ratio of 1.01%.

Dividends

NVDD vs. MUU - Dividend Comparison

NVDD's dividend yield for the trailing twelve months is around 4.01%, while MUU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
MUU Direxion Daily MU Bull 2X Shares	0.00%	0.00%	0.00%	0.00%
NVDD Direxion Daily NVDA Bear 1X Shares	4.01%	4.19%	4.83%	1.31%

Frequently Asked Questions

Can I hold both NVDD and MUU in my portfolio?

NVDD and MUU have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NVDD or MUU?

Both ETFs have the same 1.01% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NVDD or MUU?

NVDD and MUU have the same expense ratio: 1.01% per year.

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

NVDD has the higher dividend yield at 4.01%, compared with 0.00% for MUU.

What is the main difference between NVDD and MUU?

NVDD is categorized as Inverse Equities, while MUU is Leveraged Equities.