ONDL vs. MUU
ONDL (Defiance Daily Target 2X Long ONDS ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. ONDL is passively managed, while MUU is actively managed. At a 0.18 correlation, their price movements are largely independent. ONDL charges 1.31%/yr vs 1.06%/yr for MUU.
Performance
ONDL vs. MUU - Performance Comparison
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Returns By Period
In the year-to-date period, ONDL achieves a -27.60% return, which is significantly lower than MUU's 961.23% return.
ONDL
- 1D
- -29.16%
- 1M
- 17.93%
- YTD
- -27.60%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MUU
- 1D
- 3.08%
- 1M
- 218.90%
- YTD
- 961.23%
- 6M
- 1,422.01%
- 1Y
- 6,522.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ONDL vs. MUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ONDL Defiance Daily Target 2X Long ONDS ETF | -27.60% | 17.43% |
MUU Direxion Daily MU Bull 2X Shares | 961.23% | -4.98% |
Correlation
The correlation between ONDL and MUU is 0.18, 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 Dec 31, 2025 | 0.18 |
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Return for Risk
ONDL vs. MUU — Risk / Return Rank
ONDL
MUU
ONDL vs. MUU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long ONDS ETF (ONDL) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| ONDL | MUU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 50.40 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.15 | 6.68 | -6.83 |
Drawdowns
ONDL vs. MUU - Drawdown Comparison
The maximum ONDL drawdown since its inception was -75.71%, roughly equal to the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for ONDL and MUU.
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Drawdown Indicators
| ONDL | MUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.71% | -75.07% | -0.64% |
Max Drawdown (1Y)Largest decline over 1 year | — | -52.72% | — |
Current DrawdownCurrent decline from peak | -62.62% | 0.00% | -62.62% |
Average DrawdownAverage peak-to-trough decline | -53.08% | -23.44% | -29.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 15.51% | — |
Volatility
ONDL vs. MUU - Volatility Comparison
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Volatility by Period
| ONDL | MUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 54.78% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 105.07% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 219.48% | 131.77% | +87.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 219.48% | 133.67% | +85.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 219.48% | 133.67% | +85.81% |
ONDL vs. MUU - Expense Ratio Comparison
ONDL has a 1.31% expense ratio, which is higher than MUU's 1.06% expense ratio.
Dividends
ONDL vs. MUU - Dividend Comparison
ONDL has not paid dividends to shareholders, while MUU's dividend yield for the trailing twelve months is around 0.46%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
MUU Direxion Daily MU Bull 2X Shares | 0.46% | 4.27% | 0.31% |
ONDL Defiance Daily Target 2X Long ONDS ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ONDL and MUU have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MUU is cheaper at 1.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MUU is cheaper with a 1.06% expense ratio, compared with 1.31% for ONDL.
MUU has the higher dividend yield at 0.46%, compared with 0.00% for ONDL.
They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.31% for ONDL and 1.06% for MUU.
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