PPLT vs. MUU

Last updated Jul 15, 2026

PPLT (abrdn Physical Platinum Shares ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both exchange-traded funds - PPLT is a Precious Metals fund tracking the LBMA Platinum Price PM, while MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily). Both are passively managed. Over the past year, PPLT returned 18.93% vs 3397.63% for MUU. At a 0.23 correlation, their price movements are largely independent. PPLT charges 0.60%/yr vs 1.01%/yr for MUU.

Performance

PPLT vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Physical Platinum Shares ETF (PPLT) 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, PPLT achieves a -20.72% return, which is significantly lower than MUU's 640.02% return.

PPLT

• 1D: 1.79%
• 1M: -4.89%
• 6M: -30.17%
• YTD: -20.72%
• 1Y: 18.93%
• 3Y*: 18.08%
• 5Y*: 6.79%
• 10Y*: 3.53%

MUU

• 1D: 9.50%
• 1M: -10.60%
• 6M: 441.55%
• YTD: 640.02%
• 1Y: 3,397.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PPLT vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PPLT abrdn Physical Platinum Shares ETF	-20.72%	124.48%	-4.89%
MUU Direxion Daily MU Bull 2X Shares	640.02%	599.03%	-40.91%

Correlation

The correlation between PPLT and MUU is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	0.23

Return for Risk

PPLT vs. MUU — Risk / Return Rank

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

PPLT

PPLT Risk / Return Rank: 17
PPLT Sharpe Ratio Rank: 16
PPLT Sortino Ratio Rank: 18
PPLT Omega Ratio Rank: 19
PPLT Calmar Ratio Rank: 15
PPLT Martin Ratio Rank: 14

MUU

MUU Risk / Return Rank: 99
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 97
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.

PPLT vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Platinum Shares ETF (PPLT) 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.

	PPLT	MUU	Difference
Sharpe ratio: Return per unit of total volatility	0.38	29.47	-29.09
Sortino ratio: Return per unit of downside risk	0.80	5.90	-5.10
Omega ratio: Gain probability vs. loss probability	1.11	1.73	-0.62
Calmar ratio: Return relative to maximum drawdown	0.43	81.19	-80.76
Martin ratio: Return relative to average drawdown	0.91	269.76	-268.85

PPLT vs. MUU - Sharpe Ratio Comparison

The current PPLT Sharpe Ratio is 0.38, which is lower than the MUU Sharpe Ratio of 29.47. The chart below compares the historical Sharpe Ratios of PPLT and MUU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PPLT vs. MUU - Drawdown Comparison

The maximum PPLT drawdown since its inception was -70.73%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for PPLT and MUU.

Drawdown Indicators

	PPLT	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-70.73%	-75.07%	+4.34%
Max Drawdown (1Y) Largest decline over 1 year	-43.98%	-52.72%	+8.74%
Max Drawdown (3Y) Largest decline over 3 years	-43.98%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-43.98%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.14%	—	—
Current Drawdown Current decline from peak	-41.41%	-30.27%	-11.14%
Average Drawdown Average peak-to-trough decline	-39.94%	-23.44%	-16.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.86%	16.68%	+4.18%

Volatility

PPLT vs. MUU - Volatility Comparison

The current volatility for abrdn Physical Platinum Shares ETF (PPLT) is 11.01%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 67.96%. This indicates that PPLT 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.

Volatility by Period

	PPLT	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.01%	67.96%	-56.95%
Volatility (6M) Calculated over the trailing 6-month period	39.79%	115.39%	-75.60%
Volatility (1Y) Calculated over the trailing 1-year period	50.22%	145.68%	-95.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.81%	138.08%	-105.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.25%	138.08%	-108.83%

PPLT vs. MUU - Expense Ratio Comparison

PPLT has a 0.60% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

PPLT vs. MUU - Dividend Comparison

PPLT has not paid dividends to shareholders, while MUU's dividend yield for the trailing twelve months is around 0.64%.

Position	TTM	2025	2024
MUU Direxion Daily MU Bull 2X Shares	0.64%	4.27%	0.31%
PPLT abrdn Physical Platinum Shares ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PPLT and MUU in my portfolio?

PPLT and MUU have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PPLT or MUU?

MUU has higher volatility (67.96%) compared to PPLT (11.01%). In terms of maximum drawdown, PPLT dropped -70.73% vs MUU's -75.07%.

Which ETF is better, PPLT or MUU?

On 1-year performance, MUU leads with 3397.63% vs 18.93% for PPLT. On fees, PPLT is cheaper at 0.60% per year. On volatility, PPLT has been the lower-risk option at 11.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PPLT or MUU?

Over the 1-year period, MUU has performed better with a 3397.63% return vs 18.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PPLT or MUU?

PPLT is cheaper with a 0.60% expense ratio, compared with 1.01% for MUU.

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

MUU has the higher dividend yield at 0.64%, compared with 0.00% for PPLT.

What is the main difference between PPLT and MUU?

PPLT is categorized as Precious Metals, while MUU is Leveraged Equities. PPLT tracks LBMA Platinum Price PM, while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: abrdn and Direxion. Their fees differ too: 0.60% for PPLT and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (29.47 vs 0.38), 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.