NVDU vs. MUU

Last updated Jun 24, 2026

NVDU (Direxion Daily NVDA Bull 2X Shares ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds from Direxion. NVDU is actively managed, while MUU is passively managed. With a 1.00 correlation, they move nearly in lockstep. NVDU charges 1.04%/yr vs 1.01%/yr for MUU.

Performance

NVDU vs. MUU - Performance Comparison

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

Returns By Period

NVDU

• 1D: -8.71%
• 1M: -16.05%
• YTD: 2.08%
• 6M: -1.18%
• 1Y: 51.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

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

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

NVDU vs. MUU - Yearly Performance Comparison

	2026 (YTD)
NVDU Direxion Daily NVDA Bull 2X Shares ETF	-12.34%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between NVDU and MUU is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

Return for Risk

NVDU vs. MUU — Risk / Return Rank

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

NVDU

NVDU Risk / Return Rank: 24
NVDU Sharpe Ratio Rank: 22
NVDU Sortino Ratio Rank: 26
NVDU Omega Ratio Rank: 25
NVDU Calmar Ratio Rank: 26
NVDU Martin Ratio Rank: 22

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.

NVDU vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NVDA Bull 2X Shares ETF (NVDU) 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.

	NVDU	MUU	Difference
Sharpe ratio: Return per unit of total volatility	0.74	—	—
Sortino ratio: Return per unit of downside risk	1.40	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	1.23	—	—
Martin ratio: Return relative to average drawdown	2.70	—	—

Drawdowns

NVDU vs. MUU - Drawdown Comparison

The maximum NVDU drawdown since its inception was -67.27%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for NVDU and MUU.

Drawdown Indicators

	NVDU	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-67.27%	-26.28%	-40.99%
Max Drawdown (1Y) Largest decline over 1 year	-42.27%	—	—
Current Drawdown Current decline from peak	-30.48%	-26.28%	-4.20%
Average Drawdown Average peak-to-trough decline	-18.91%	-10.19%	-8.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.30%	—	—

Volatility

Volatility by Period

	NVDU	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.33%	—	—
Volatility (6M) Calculated over the trailing 6-month period	53.28%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	70.48%	295.32%	-224.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.03%	295.32%	-204.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.03%	295.32%	-204.29%

NVDU vs. MUU - Expense Ratio Comparison

NVDU has a 1.04% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

NVDU vs. MUU - Dividend Comparison

NVDU's dividend yield for the trailing twelve months is around 5.68%, 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%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	5.68%	5.68%	16.85%	0.63%

Frequently Asked Questions

Can I hold both NVDU and MUU in my portfolio?

With a correlation of 1.00, NVDU and MUU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, NVDU or MUU?

On fees, MUU is cheaper at 1.01% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NVDU or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.04% for NVDU.

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

NVDU has the higher dividend yield at 5.68%, compared with 0.00% for MUU.

What is the main difference between NVDU and MUU?

Their fees differ too: 1.04% for NVDU and 1.01% for MUU.