ONDG vs. MUU

Last updated Jun 24, 2026

ONDG (Leverage Shares 2X Long ONDS Daily ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds - ONDG tracks the Ondas Holdings Inc. (ONDS) while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. At a 0.40 correlation, their price movements are largely independent. ONDG charges 0.75%/yr vs 1.01%/yr for MUU.

Performance

ONDG vs. MUU - Performance Comparison

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

Returns By Period

ONDG

• 1D: -7.89%
• 1M: -22.81%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

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

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

ONDG vs. MUU - Yearly Performance Comparison

	2026 (YTD)
ONDG Leverage Shares 2X Long ONDS Daily ETF	-20.26%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between ONDG and MUU is 0.40, 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 Jun 16, 2026	0.40

Return for Risk

ONDG vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ONDS Daily ETF (ONDG) 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.

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

Drawdowns

ONDG vs. MUU - Drawdown Comparison

The maximum ONDG drawdown since its inception was -78.13%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for ONDG and MUU.

Drawdown Indicators

	ONDG	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-78.13%	-26.28%	-51.85%
Current Drawdown Current decline from peak	-78.13%	-26.28%	-51.85%
Average Drawdown Average peak-to-trough decline	-56.22%	-10.19%	-46.03%

Volatility

Volatility by Period

	ONDG	MUU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	208.74%	295.32%	-86.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	208.74%	295.32%	-86.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	208.74%	295.32%	-86.58%

ONDG vs. MUU - Expense Ratio Comparison

ONDG has a 0.75% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

ONDG vs. MUU - Dividend Comparison

Neither ONDG nor MUU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ONDG and MUU in my portfolio?

ONDG and MUU have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ONDG or MUU?

On fees, ONDG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ONDG or MUU?

ONDG is cheaper with a 0.75% expense ratio, compared with 1.01% for MUU.

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

ONDG and MUU have nearly identical dividend yields, around 0.00%.

What is the main difference between ONDG and MUU?

ONDG tracks Ondas Holdings Inc. (ONDS), while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for ONDG and 1.01% for MUU.