ONDL vs. MUU

Last updated Jun 25, 2026

ONDL (Defiance Daily Target 2X Long ONDS ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds - ONDL tracks the Ondas Holdings Inc. (ONDS) while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. At a 0.37 correlation, their price movements are largely independent. ONDL charges 1.31%/yr vs 1.01%/yr for MUU.

Performance

ONDL vs. MUU - Performance Comparison

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

Returns By Period

ONDL

• 1D: -20.58%
• 1M: -39.95%
• YTD: -70.84%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: -0.64%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ONDL vs. MUU - Yearly Performance Comparison

	2026 (YTD)
ONDL Defiance Daily Target 2X Long ONDS ETF	-36.79%
MUU Direxion Daily MU Bull 2X Shares	-12.53%

Correlation

The correlation between ONDL and MUU is 0.37, 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	0.37

Return for Risk

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.

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

ONDL vs. MUU - Drawdown Comparison

The maximum ONDL drawdown since its inception was -84.94%, which is greater than MUU's maximum drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for ONDL and MUU.

Drawdown Indicators

	ONDL	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-84.94%	-26.63%	-58.31%
Current Drawdown Current decline from peak	-84.94%	-26.63%	-58.31%
Average Drawdown Average peak-to-trough decline	-55.27%	-12.91%	-42.36%

Volatility

Volatility by Period

	ONDL	MUU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	215.10%	263.57%	-48.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	215.10%	263.57%	-48.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	215.10%	263.57%	-48.47%

ONDL vs. MUU - Expense Ratio Comparison

ONDL has a 1.31% expense ratio, which is higher than MUU's 1.01% 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 0.23%.

Position	TTM
MUU Direxion Daily MU Bull 2X Shares	0.23%
ONDL Defiance Daily Target 2X Long ONDS ETF	0.00%

Frequently Asked Questions

Can I hold both ONDL and MUU in my portfolio?

ONDL and MUU have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ONDL 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, ONDL or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.31% for ONDL.

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

MUU has the higher dividend yield at 0.23%, compared with 0.00% for ONDL.

What is the main difference between ONDL and MUU?

ONDL tracks Ondas Holdings Inc. (ONDS), while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.31% for ONDL and 1.01% for MUU.