PBRG vs. MUU

Last updated Jun 6, 2026

PBRG (Leverage Shares 2X Long PBR Daily ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. PBRG is passively managed, while MUU is actively managed. At a correlation of -0.07, they often move in opposite directions. PBRG charges 0.75%/yr vs 1.06%/yr for MUU.

Performance

PBRG vs. MUU - Performance Comparison

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

Returns By Period

In the year-to-date period, PBRG achieves a 110.89% return, which is significantly lower than MUU's 558.99% return.

PBRG

• 1D: -3.51%
• 1M: -27.22%
• YTD: 110.89%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: -26.65%
• 1M: 50.22%
• YTD: 558.99%
• 6M: 826.13%
• 1Y: 3,710.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PBRG vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
PBRG Leverage Shares 2X Long PBR Daily ETF	110.89%	7.59%
MUU Direxion Daily MU Bull 2X Shares	558.99%	30.33%

Correlation

The correlation between PBRG and MUU is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 19, 2025	-0.07

Return for Risk

PBRG vs. MUU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MUU

MUU Risk / Return Rank: 98
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 96
MUU Calmar Ratio Rank: 100
MUU Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PBRG vs. MUU - Risk-Adjusted Trends Comparison

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

Sharpe Ratios by Period

	PBRG	MUU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	27.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	7.14	4.68	+2.47

Drawdowns

PBRG vs. MUU - Drawdown Comparison

The maximum PBRG drawdown since its inception was -34.71%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for PBRG and MUU.

Drawdown Indicators

	PBRG	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-34.71%	-75.07%	+40.36%
Max Drawdown (1Y) Largest decline over 1 year	—	-52.72%	—
Current Drawdown Current decline from peak	-34.71%	-37.90%	+3.19%
Average Drawdown Average peak-to-trough decline	-6.54%	-23.45%	+16.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	15.73%	—

Volatility

Volatility by Period

	PBRG	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	66.40%	—
Volatility (6M) Calculated over the trailing 6-month period	—	111.50%	—
Volatility (1Y) Calculated over the trailing 1-year period	70.61%	135.81%	-65.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.61%	135.74%	-65.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.61%	135.74%	-65.13%

PBRG vs. MUU - Expense Ratio Comparison

PBRG has a 0.75% expense ratio, which is lower than MUU's 1.06% expense ratio.

Dividends

PBRG vs. MUU - Dividend Comparison

PBRG has not paid dividends to shareholders, while MUU's dividend yield for the trailing twelve months is around 0.73%.

Position	TTM	2025	2024
MUU Direxion Daily MU Bull 2X Shares	0.73%	4.27%	0.31%
PBRG Leverage Shares 2X Long PBR Daily ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PBRG and MUU in my portfolio?

PBRG and MUU have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PBRG or MUU?

On fees, PBRG 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, PBRG or MUU?

PBRG is cheaper with a 0.75% expense ratio, compared with 1.06% for MUU.

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

MUU has the higher dividend yield at 0.73%, compared with 0.00% for PBRG.

What is the main difference between PBRG and MUU?

They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for PBRG and 1.06% for MUU.