QQQE vs. MUU

Last updated Jul 15, 2026

QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) and MUU (Direxion Daily MU Bull 2X Shares) are both exchange-traded funds - QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index, while MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily). Both are passively managed. Over the past year, QQQE returned 21.43% vs 3397.63% for MUU. A 0.57 correlation means they provide meaningful diversification when combined. QQQE charges 0.35%/yr vs 1.01%/yr for MUU.

Performance

QQQE vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) 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, QQQE achieves a 16.90% return, which is significantly lower than MUU's 640.02% return.

QQQE

• 1D: 0.06%
• 1M: -0.20%
• 6M: 14.19%
• YTD: 16.90%
• 1Y: 21.43%
• 3Y*: 15.58%
• 5Y*: 9.08%
• 10Y*: 15.02%

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)

QQQE vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	16.90%	14.58%	-1.26%
MUU Direxion Daily MU Bull 2X Shares	640.02%	599.03%	-40.91%

Correlation

The correlation between QQQE and MUU is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	0.57

The correlation between QQQE and MUU has been stable across timeframes, ranging from 0.50 to 0.57 - a consistent structural relationship.

Return for Risk

QQQE vs. MUU — Risk / Return Rank

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

QQQE

QQQE Risk / Return Rank: 51
QQQE Sharpe Ratio Rank: 49
QQQE Sortino Ratio Rank: 47
QQQE Omega Ratio Rank: 46
QQQE Calmar Ratio Rank: 57
QQQE Martin Ratio Rank: 55

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.

QQQE vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) 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.

	QQQE	MUU	Difference
Sharpe ratio: Return per unit of total volatility	1.36	29.47	-28.11
Sortino ratio: Return per unit of downside risk	1.91	5.90	-3.99
Omega ratio: Gain probability vs. loss probability	1.24	1.73	-0.50
Calmar ratio: Return relative to maximum drawdown	2.29	81.19	-78.90
Martin ratio: Return relative to average drawdown	7.56	269.76	-262.20

QQQE vs. MUU - Sharpe Ratio Comparison

The current QQQE Sharpe Ratio is 1.36, which is lower than the MUU Sharpe Ratio of 29.47. The chart below compares the historical Sharpe Ratios of QQQE 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

QQQE vs. MUU - Drawdown Comparison

The maximum QQQE drawdown since its inception was -32.14%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for QQQE and MUU.

Drawdown Indicators

	QQQE	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-32.14%	-75.07%	+42.93%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-52.72%	+43.31%
Max Drawdown (3Y) Largest decline over 3 years	-21.38%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.14%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.14%	—	—
Current Drawdown Current decline from peak	-2.70%	-30.27%	+27.57%
Average Drawdown Average peak-to-trough decline	-5.14%	-23.44%	+18.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	16.68%	-13.84%

Volatility

QQQE vs. MUU - Volatility Comparison

The current volatility for Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) is 5.75%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 67.96%. This indicates that QQQE 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

	QQQE	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.75%	67.96%	-62.21%
Volatility (6M) Calculated over the trailing 6-month period	12.90%	115.39%	-102.49%
Volatility (1Y) Calculated over the trailing 1-year period	15.83%	145.68%	-129.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.58%	138.08%	-117.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.75%	138.08%	-117.33%

QQQE vs. MUU - Expense Ratio Comparison

QQQE has a 0.35% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

QQQE vs. MUU - Dividend Comparison

QQQE's dividend yield for the trailing twelve months is around 0.57%, less 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%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	0.57%	0.52%	0.86%	0.79%	0.98%	3.83%	0.54%	0.74%	0.80%	0.65%	1.17%	0.57%

Frequently Asked Questions

Can I hold both QQQE and MUU in my portfolio?

QQQE and MUU have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQE or MUU?

MUU has higher volatility (67.96%) compared to QQQE (5.75%). In terms of maximum drawdown, QQQE dropped -32.14% vs MUU's -75.07%.

Which ETF is better, QQQE or MUU?

On 1-year performance, MUU leads with 3397.63% vs 21.43% for QQQE. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 5.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQE or MUU?

Over the 1-year period, MUU has performed better with a 3397.63% return vs 21.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQE or MUU?

QQQE is cheaper with a 0.35% expense ratio, compared with 1.01% for MUU.

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

MUU has the higher dividend yield at 0.64%, compared with 0.57% for QQQE.

What is the main difference between QQQE and MUU?

QQQE is categorized as Nasdaq-100, while MUU is Leveraged Equities. QQQE tracks NASDAQ-100 Equal Weighted Index, while MUU tracks Micron Technology, Inc. (200% Daily). Their fees differ too: 0.35% for QQQE and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (29.47 vs 1.36), 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.