QCML vs. MUU

Last updated Jun 23, 2026

QCML (GraniteShares 2x Long QCOM Daily ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds - QCML tracks the Qualcomm Inc. (QCOM) while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. At a 0.30 correlation, their price movements are largely independent. QCML charges 1.50%/yr vs 1.01%/yr for MUU.

Performance

QCML vs. MUU - Performance Comparison

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

Returns By Period

QCML

• 1D: -3.63%
• 1M: -18.23%
• YTD: 37.20%
• 6M: 32.11%
• 1Y: 61.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: -26.28%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QCML vs. MUU - Yearly Performance Comparison

	2026 (YTD)
QCML GraniteShares 2x Long QCOM Daily ETF	0.45%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between QCML and MUU is 0.30, 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	0.30

Return for Risk

QCML vs. MUU — Risk / Return Rank

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

QCML

QCML Risk / Return Rank: 25
QCML Sharpe Ratio Rank: 19
QCML Sortino Ratio Rank: 29
QCML Omega Ratio Rank: 33
QCML Calmar Ratio Rank: 23
QCML Martin Ratio Rank: 19

MUU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

QCML vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long QCOM Daily ETF (QCML) 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.

	QCML	MUU	Difference
Sharpe ratio: Return per unit of total volatility	0.62	—	—
Sortino ratio: Return per unit of downside risk	1.54	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	1.06	—	—
Martin ratio: Return relative to average drawdown	2.16	—	—

Drawdowns

QCML vs. MUU - Drawdown Comparison

The maximum QCML drawdown since its inception was -59.13%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for QCML and MUU.

Drawdown Indicators

	QCML	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-59.13%	-26.28%	-32.85%
Max Drawdown (1Y) Largest decline over 1 year	-58.72%	—	—
Current Drawdown Current decline from peak	-25.58%	-26.28%	+0.70%
Average Drawdown Average peak-to-trough decline	-28.94%	-10.19%	-18.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.67%	—	—

Volatility

Volatility by Period

	QCML	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	55.13%	—	—
Volatility (6M) Calculated over the trailing 6-month period	86.76%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	99.62%	295.32%	-195.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	98.92%	295.32%	-196.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	98.92%	295.32%	-196.40%

QCML vs. MUU - Expense Ratio Comparison

QCML has a 1.50% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

QCML vs. MUU - Dividend Comparison

Neither QCML nor MUU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both QCML and MUU in my portfolio?

QCML and MUU have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QCML 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, QCML or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.50% for QCML.

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

QCML and MUU have nearly identical dividend yields, around 0.00%.

What is the main difference between QCML and MUU?

QCML tracks Qualcomm Inc. (QCOM), while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for QCML and 1.01% for MUU.