NVDX vs. MUU

Last updated Jul 14, 2026

NVDX (T-REX 2X Long NVIDIA Daily Target ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. NVDX is actively managed, while MUU is passively managed. Over the past year, NVDX returned 14.31% vs 2796.55% for MUU. A 0.50 correlation means they provide meaningful diversification when combined. NVDX charges 1.05%/yr vs 1.01%/yr for MUU.

Performance

NVDX vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-REX 2X Long NVIDIA Daily Target ETF (NVDX) 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, NVDX achieves a 1.87% return, which is significantly lower than MUU's 575.80% return.

NVDX

• 1D: -7.09%
• 1M: -3.81%
• 6M: 4.09%
• YTD: 1.87%
• 1Y: 14.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: -9.01%
• 1M: -18.36%
• 6M: 372.65%
• YTD: 575.80%
• 1Y: 2,796.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVDX vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NVDX T-REX 2X Long NVIDIA Daily Target ETF	1.87%	26.24%	-4.29%
MUU Direxion Daily MU Bull 2X Shares	575.80%	599.03%	-40.91%

Correlation

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

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	0.50

The correlation between NVDX and MUU has been stable across timeframes, ranging from 0.43 to 0.50 - a consistent structural relationship.

Return for Risk

NVDX vs. MUU — Risk / Return Rank

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

NVDX

NVDX Risk / Return Rank: 15
NVDX Sharpe Ratio Rank: 13
NVDX Sortino Ratio Rank: 18
NVDX Omega Ratio Rank: 17
NVDX Calmar Ratio Rank: 14
NVDX Martin Ratio Rank: 13

MUU

MUU Risk / Return Rank: 99
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.

NVDX vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long NVIDIA Daily Target ETF (NVDX) 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.

	NVDX	MUU	Difference
Sharpe ratio: Return per unit of total volatility	0.20	23.95	-23.75
Sortino ratio: Return per unit of downside risk	0.80	5.62	-4.82
Omega ratio: Gain probability vs. loss probability	1.09	1.69	-0.60
Calmar ratio: Return relative to maximum drawdown	0.33	66.09	-65.76
Martin ratio: Return relative to average drawdown	0.67	221.31	-220.64

NVDX vs. MUU - Sharpe Ratio Comparison

The current NVDX Sharpe Ratio is 0.20, which is lower than the MUU Sharpe Ratio of 23.95. The chart below compares the historical Sharpe Ratios of NVDX 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.

Drawdowns

NVDX vs. MUU - Drawdown Comparison

The maximum NVDX drawdown since its inception was -68.19%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for NVDX and MUU.

Drawdown Indicators

	NVDX	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-68.19%	-75.07%	+6.88%
Max Drawdown (1Y) Largest decline over 1 year	-43.76%	-52.72%	+8.96%
Current Drawdown Current decline from peak	-29.05%	-36.32%	+7.27%
Average Drawdown Average peak-to-trough decline	-20.56%	-23.43%	+2.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.34%	16.57%	+4.77%

Volatility

NVDX vs. MUU - Volatility Comparison

The current volatility for T-REX 2X Long NVIDIA Daily Target ETF (NVDX) is 21.76%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 67.81%. This indicates that NVDX 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

	NVDX	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.76%	67.81%	-46.05%
Volatility (6M) Calculated over the trailing 6-month period	54.70%	116.35%	-61.65%
Volatility (1Y) Calculated over the trailing 1-year period	71.48%	145.78%	-74.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.09%	138.10%	-43.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.09%	138.10%	-43.01%

NVDX vs. MUU - Expense Ratio Comparison

NVDX has a 1.05% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

NVDX vs. MUU - Dividend Comparison

NVDX's dividend yield for the trailing twelve months is around 3.29%, more than MUU's 0.70% yield.

Position	TTM	2025	2024
MUU Direxion Daily MU Bull 2X Shares	0.70%	4.27%	0.31%
NVDX T-REX 2X Long NVIDIA Daily Target ETF	3.29%	3.35%	15.48%

Frequently Asked Questions

Can I hold both NVDX and MUU in my portfolio?

NVDX 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 is riskier, NVDX or MUU?

MUU has higher volatility (67.81%) compared to NVDX (21.76%). In terms of maximum drawdown, NVDX dropped -68.19% vs MUU's -75.07%.

Which ETF is better, NVDX or MUU?

On 1-year performance, MUU leads with 2796.55% vs 14.31% for NVDX. On fees, MUU is cheaper at 1.01% per year. On volatility, NVDX has been the lower-risk option at 21.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDX or MUU?

Over the 1-year period, MUU has performed better with a 2796.55% return vs 14.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDX or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.05% for NVDX.

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

NVDX has the higher dividend yield at 3.29%, compared with 0.70% for MUU.

What is the main difference between NVDX and MUU?

They also come from different issuers: REX and Direxion. Their fees differ too: 1.05% for NVDX and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (23.95 vs 0.20), 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.