NVDU vs. MUU

Last updated Jun 4, 2026

NVDU (Direxion Daily NVDA Bull 2X Shares ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds from Direxion. Both are actively managed. Over the past year, NVDU returned 84.73% vs 6522.95% for MUU. A 0.51 correlation means they provide meaningful diversification when combined. NVDU charges 1.04%/yr vs 1.06%/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

In the year-to-date period, NVDU achieves a 19.93% return, which is significantly lower than MUU's 961.23% return.

NVDU

• 1D: -7.30%
• 1M: 14.13%
• YTD: 19.93%
• 6M: 27.09%
• 1Y: 84.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: 3.08%
• 1M: 218.90%
• YTD: 961.23%
• 6M: 1,422.01%
• 1Y: 6,522.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDU vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NVDU Direxion Daily NVDA Bull 2X Shares ETF	19.93%	33.65%	-6.44%
MUU Direxion Daily MU Bull 2X Shares	961.23%	599.03%	-43.09%

Correlation

The correlation between NVDU and MUU is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024	0.51

The correlation between NVDU and MUU has been stable across timeframes, ranging from 0.41 to 0.51 - a consistent structural relationship.

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: 34
NVDU Sharpe Ratio Rank: 34
NVDU Sortino Ratio Rank: 35
NVDU Omega Ratio Rank: 33
NVDU Calmar Ratio Rank: 40
NVDU Martin Ratio Rank: 31

MUU

MUU Risk / Return Rank: 99
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 98
MUU Omega Ratio Rank: 97
MUU Calmar Ratio Rank: 100
MUU Martin Ratio Rank: 100

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.

	NVDU	MUU	Difference
Sharpe ratio: Return per unit of total volatility	1.26	50.40	-49.15
Sortino ratio: Return per unit of downside risk	1.89	7.17	-5.28
Omega ratio: Gain probability vs. loss probability	1.23	1.91	-0.68
Calmar ratio: Return relative to maximum drawdown	2.02	125.85	-123.83
Martin ratio: Return relative to average drawdown	4.60	426.84	-422.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVDU vs. MUU - Sharpe Ratio Comparison

The current NVDU Sharpe Ratio is 1.26, which is lower than the MUU Sharpe Ratio of 50.40. The chart below compares the historical Sharpe Ratios of NVDU and MUU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NVDU	MUU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	50.40	-49.15
Sharpe Ratio (All Time) Calculated using the full available price history	1.14	6.68	-5.54

Drawdowns

NVDU vs. MUU - Drawdown Comparison

The maximum NVDU drawdown since its inception was -67.27%, smaller than the maximum MUU drawdown of -75.07%. 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%	-75.07%	+7.80%
Max Drawdown (1Y) Largest decline over 1 year	-42.27%	-52.72%	+10.45%
Current Drawdown Current decline from peak	-18.32%	0.00%	-18.32%
Average Drawdown Average peak-to-trough decline	-18.84%	-23.44%	+4.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.47%	15.51%	+2.96%

Volatility

NVDU vs. MUU - Volatility Comparison

The current volatility for Direxion Daily NVDA Bull 2X Shares ETF (NVDU) is 24.74%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 54.78%. This indicates that NVDU experiences smaller price fluctuations and is considered to be less risky than MUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDU	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.74%	54.78%	-30.04%
Volatility (6M) Calculated over the trailing 6-month period	50.50%	105.07%	-54.57%
Volatility (1Y) Calculated over the trailing 1-year period	68.02%	131.77%	-63.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.06%	133.67%	-42.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.06%	133.67%	-42.61%

NVDU vs. MUU - Expense Ratio Comparison

NVDU has a 1.04% expense ratio, which is lower than MUU's 1.06% expense ratio.

Dividends

NVDU vs. MUU - Dividend Comparison

NVDU's dividend yield for the trailing twelve months is around 4.83%, more than MUU's 0.46% yield.

Position	TTM	2025	2024	2023
MUU Direxion Daily MU Bull 2X Shares	0.46%	4.27%	0.31%	0.00%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	4.83%	5.68%	16.85%	0.63%

Frequently Asked Questions

Can I hold both NVDU and MUU in my portfolio?

NVDU and MUU have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVDU or MUU?

MUU has higher volatility (54.78%) compared to NVDU (24.74%). In terms of maximum drawdown, NVDU dropped -67.27% vs MUU's -75.07%.

Which ETF is better, NVDU or MUU?

On 1-year performance, MUU leads with 6522.95% vs 84.73% for NVDU. On fees, NVDU is cheaper at 1.04% per year. On volatility, NVDU has been the lower-risk option at 24.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDU or MUU?

Over the 1-year period, MUU has performed better with a 6522.95% return vs 84.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDU or MUU?

NVDU is cheaper with a 1.04% expense ratio, compared with 1.06% for MUU.

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

NVDU has the higher dividend yield at 4.83%, compared with 0.46% for MUU.

What is the main difference between NVDU and MUU?

Their fees differ too: 1.04% for NVDU and 1.06% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (50.40 vs 1.26), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.