OPEX vs. MUU

Last updated Jun 25, 2026

OPEX (Tradr 2X Long OPEN Daily ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. OPEX is actively managed, while MUU is passively managed. At a correlation of -0.31, they often move in opposite directions. OPEX charges 1.30%/yr vs 1.01%/yr for MUU.

Performance

OPEX vs. MUU - Performance Comparison

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

Returns By Period

OPEX

• 1D: 2.27%
• 1M: -18.26%
• YTD: -64.33%
• 6M: -69.24%
• 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)

OPEX vs. MUU - Yearly Performance Comparison

	2026 (YTD)
OPEX Tradr 2X Long OPEN Daily ETF	-15.65%
MUU Direxion Daily MU Bull 2X Shares	-12.53%

Correlation

The correlation between OPEX and MUU is -0.31, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 16, 2026	-0.31

Return for Risk

OPEX vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long OPEN Daily ETF (OPEX) 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

OPEX vs. MUU - Drawdown Comparison

The maximum OPEX drawdown since its inception was -88.23%, which is greater than MUU's maximum drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for OPEX and MUU.

Drawdown Indicators

	OPEX	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-88.23%	-26.63%	-61.60%
Current Drawdown Current decline from peak	-87.96%	-26.63%	-61.33%
Average Drawdown Average peak-to-trough decline	-66.91%	-12.91%	-54.00%

Volatility

Volatility by Period

	OPEX	MUU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	169.41%	263.57%	-94.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	169.41%	263.57%	-94.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	169.41%	263.57%	-94.16%

OPEX vs. MUU - Expense Ratio Comparison

OPEX has a 1.30% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

OPEX vs. MUU - Dividend Comparison

OPEX 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%
OPEX Tradr 2X Long OPEN Daily ETF	0.00%

Frequently Asked Questions

Can I hold both OPEX and MUU in my portfolio?

OPEX and MUU have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OPEX 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, OPEX or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.30% for OPEX.

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

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

What is the main difference between OPEX and MUU?

They also come from different issuers: Tradr ETFs and Direxion. Their fees differ too: 1.30% for OPEX and 1.01% for MUU.