ONEV vs. MUU
ONEV (SPDR Russell 1000 Low Volatility Focus ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both exchange-traded funds - ONEV is a Volatility Hedged Equity fund tracking the Russell 1000 Low Volatility Focused Factor (TR), while MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily). Both are passively managed. Over the past year, ONEV returned 13.75% vs 3083.51% for MUU. At a 0.22 correlation, their price movements are largely independent. ONEV charges 0.20%/yr vs 1.01%/yr for MUU.
Performance
ONEV vs. MUU - Performance Comparison
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Returns By Period
In the year-to-date period, ONEV achieves a 10.07% return, which is significantly lower than MUU's 642.75% return.
ONEV
- 1D
- 0.60%
- 1M
- 1.22%
- 6M
- 6.74%
- YTD
- 10.07%
- 1Y
- 13.75%
- 3Y*
- 11.77%
- 5Y*
- 8.60%
- 10Y*
- 11.28%
MUU
- 1D
- -2.52%
- 1M
- -10.27%
- 6M
- 421.21%
- YTD
- 642.75%
- 1Y
- 3,083.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ONEV vs. MUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ONEV SPDR Russell 1000 Low Volatility Focus ETF | 10.07% | 8.14% | -1.80% |
MUU Direxion Daily MU Bull 2X Shares | 642.75% | 599.03% | -40.91% |
Correlation
The correlation between ONEV and MUU is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024 | 0.22 |
The correlation between ONEV and MUU shifts across timeframes, from 0.11 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ONEV vs. MUU — Risk / Return Rank
ONEV
MUU
ONEV vs. MUU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Low Volatility Focus ETF (ONEV) 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.
| ONEV | MUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -26.15 | ||
| Sortino ratioReturn per unit of downside risk | -4.07 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.72 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 75.03 | -73.38 |
| Martin ratioReturn relative to average drawdown | 5.64 | 245.78 | -240.14 |
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Drawdowns
ONEV vs. MUU - Drawdown Comparison
The maximum ONEV drawdown since its inception was -39.72%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for ONEV and MUU.
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Drawdown Indicators
| ONEV | MUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.72% | -75.07% | +35.35% |
Max Drawdown (1Y)Largest decline over 1 year | -7.75% | -52.72% | +44.97% |
Max Drawdown (3Y)Largest decline over 3 years | -14.81% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.52% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.72% | — | — |
Current DrawdownCurrent decline from peak | -0.66% | -30.01% | +29.35% |
Average DrawdownAverage peak-to-trough decline | -3.87% | -23.40% | +19.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.28% | 16.41% | -14.13% |
Volatility
ONEV vs. MUU - Volatility Comparison
The current volatility for SPDR Russell 1000 Low Volatility Focus ETF (ONEV) is 3.51%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 67.23%. This indicates that ONEV 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.
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Volatility by Period
| ONEV | MUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.51% | 67.23% | -63.72% |
Volatility (6M)Calculated over the trailing 6-month period | 8.02% | 116.08% | -108.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.36% | 145.04% | -133.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.54% | 138.03% | -123.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.99% | 138.03% | -121.04% |
ONEV vs. MUU - Expense Ratio Comparison
ONEV has a 0.20% expense ratio, which is lower than MUU's 1.01% expense ratio.
Dividends
ONEV vs. MUU - Dividend Comparison
ONEV's dividend yield for the trailing twelve months is around 1.83%, more than MUU's 0.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUU Direxion Daily MU Bull 2X Shares | 0.64% | 4.27% | 0.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ONEV SPDR Russell 1000 Low Volatility Focus ETF | 1.83% | 1.81% | 1.88% | 1.79% | 1.80% | 1.44% | 1.87% | 2.07% | 2.14% | 6.91% | 3.73% | 0.21% |
Frequently Asked Questions
ONEV and MUU have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUU has higher volatility (67.23%) compared to ONEV (3.51%). In terms of maximum drawdown, ONEV dropped -39.72% vs MUU's -75.07%.
On 1-year performance, MUU leads with 3083.51% vs 13.75% for ONEV. On fees, ONEV is cheaper at 0.20% per year. On volatility, ONEV has been the lower-risk option at 3.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MUU has performed better with a 3083.51% return vs 13.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ONEV is cheaper with a 0.20% expense ratio, compared with 1.01% for MUU.
ONEV has the higher dividend yield at 1.83%, compared with 0.64% for MUU.
ONEV is categorized as Volatility Hedged Equity, while MUU is Leveraged Equities. ONEV tracks Russell 1000 Low Volatility Focused Factor (TR), while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: State Street and Direxion. Their fees differ too: 0.20% for ONEV and 1.01% for MUU.
MUU currently has the higher Sharpe Ratio (27.27 vs 1.13), 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.
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