RWO vs. MUU

Last updated Jul 12, 2026

RWO (SPDR Dow Jones Global Real Estate ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both exchange-traded funds - RWO is a REIT fund tracking the Dow Jones Global Select Real Estate Securities Index, while MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily). Both are passively managed. Over the past year, RWO returned 18.27% vs 3083.51% for MUU. At a 0.11 correlation, their price movements are largely independent. RWO charges 0.50%/yr vs 1.01%/yr for MUU.

Performance

RWO vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Dow Jones Global Real Estate ETF (RWO) 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, RWO achieves a 13.24% return, which is significantly lower than MUU's 642.75% return.

RWO

• 1D: 0.28%
• 1M: 0.82%
• 6M: 10.90%
• YTD: 13.24%
• 1Y: 18.27%
• 3Y*: 10.10%
• 5Y*: 2.42%
• 10Y*: 3.45%

MUU

• 1D: -2.52%
• 1M: -10.27%
• 6M: 421.21%
• YTD: 642.75%
• 1Y: 3,083.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RWO vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RWO SPDR Dow Jones Global Real Estate ETF	13.24%	8.87%	-5.58%
MUU Direxion Daily MU Bull 2X Shares	642.75%	599.03%	-40.91%

Correlation

The correlation between RWO and MUU is 0.03, 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 (1Y) Calculated over the trailing 1-year period	0.03
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	0.11

Return for Risk

RWO vs. MUU — Risk / Return Rank

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

RWO

RWO Risk / Return Rank: 47
RWO Sharpe Ratio Rank: 47
RWO Sortino Ratio Rank: 45
RWO Omega Ratio Rank: 44
RWO Calmar Ratio Rank: 46
RWO Martin Ratio Rank: 53

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.

RWO vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Dow Jones Global Real Estate ETF (RWO) 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.

	RWO	MUU	Difference
Sharpe ratio: Return per unit of total volatility	1.34	27.27	-25.93
Sortino ratio: Return per unit of downside risk	1.88	5.80	-3.92
Omega ratio: Gain probability vs. loss probability	1.23	1.72	-0.49
Calmar ratio: Return relative to maximum drawdown	1.87	75.03	-73.17
Martin ratio: Return relative to average drawdown	7.21	245.78	-238.57

RWO vs. MUU - Sharpe Ratio Comparison

The current RWO Sharpe Ratio is 1.34, which is lower than the MUU Sharpe Ratio of 27.27. The chart below compares the historical Sharpe Ratios of RWO 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

RWO vs. MUU - Drawdown Comparison

The maximum RWO drawdown since its inception was -67.69%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for RWO and MUU.

Drawdown Indicators

	RWO	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-67.69%	-75.07%	+7.38%
Max Drawdown (1Y) Largest decline over 1 year	-9.51%	-52.72%	+43.21%
Max Drawdown (3Y) Largest decline over 3 years	-17.66%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.85%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.27%	—	—
Current Drawdown Current decline from peak	-1.04%	-30.01%	+28.97%
Average Drawdown Average peak-to-trough decline	-12.61%	-23.40%	+10.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.46%	16.41%	-13.95%

Volatility

RWO vs. MUU - Volatility Comparison

The current volatility for SPDR Dow Jones Global Real Estate ETF (RWO) is 4.49%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 67.23%. This indicates that RWO 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

	RWO	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	67.23%	-62.74%
Volatility (6M) Calculated over the trailing 6-month period	10.28%	116.08%	-105.80%
Volatility (1Y) Calculated over the trailing 1-year period	13.25%	145.04%	-131.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.08%	138.03%	-120.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.19%	138.03%	-119.84%

RWO vs. MUU - Expense Ratio Comparison

RWO has a 0.50% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

RWO vs. MUU - Dividend Comparison

RWO's dividend yield for the trailing twelve months is around 3.19%, more 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%
RWO SPDR Dow Jones Global Real Estate ETF	3.19%	3.62%	3.68%	3.53%	3.69%	2.79%	3.25%	3.97%	3.90%	3.26%	3.77%	2.97%

Frequently Asked Questions

Can I hold both RWO and MUU in my portfolio?

RWO and MUU have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWO or MUU?

MUU has higher volatility (67.23%) compared to RWO (4.49%). In terms of maximum drawdown, RWO dropped -67.69% vs MUU's -75.07%.

Which ETF is better, RWO or MUU?

On 1-year performance, MUU leads with 3083.51% vs 18.27% for RWO. On fees, RWO is cheaper at 0.50% per year. On volatility, RWO has been the lower-risk option at 4.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RWO or MUU?

Over the 1-year period, MUU has performed better with a 3083.51% return vs 18.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWO or MUU?

RWO is cheaper with a 0.50% expense ratio, compared with 1.01% for MUU.

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

RWO has the higher dividend yield at 3.19%, compared with 0.64% for MUU.

What is the main difference between RWO and MUU?

RWO is categorized as REIT, while MUU is Leveraged Equities. RWO tracks Dow Jones Global Select Real Estate Securities Index, while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: State Street and Direxion. Their fees differ too: 0.50% for RWO and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (27.27 vs 1.34), 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.