SDOW vs. MUU

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares UltraPro Short Dow30 (SDOW) and Direxion Daily MU Bull 2X Shares (MUU).

SDOW and MUU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SDOW is a passively managed fund by ProShares that tracks the performance of the Dow Jones Industrial Average (-300%). It was launched on Feb 11, 2010. MUU is an actively managed fund by Direxion. It was launched on Oct 9, 2024.

Performance

SDOW vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short Dow30 (SDOW) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

SDOW vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SDOW ProShares UltraPro Short Dow30	10.94%	-33.94%	-0.05%
MUU Direxion Daily MU Bull 2X Shares	19.95%	599.03%	-43.09%

Returns By Period

In the year-to-date period, SDOW achieves a 10.94% return, which is significantly lower than MUU's 19.95% return.

SDOW

• 1D: -7.24%
• 1M: 17.21%
• YTD: 10.94%
• 6M: 0.57%
• 1Y: -29.73%
• 3Y*: -26.80%
• 5Y*: -22.86%
• 10Y*: -36.41%

MUU

• 1D: 9.69%
• 1M: -37.04%
• YTD: 19.95%
• 6M: 205.62%
• 1Y: 790.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SDOW vs. MUU - Expense Ratio Comparison

SDOW has a 0.95% expense ratio, which is lower than MUU's 1.06% expense ratio.

MUU

Direxion Daily MU Bull 2X Shares

SDOW

ProShares UltraPro Short Dow30

Return for Risk

SDOW vs. MUU — Risk / Return Rank

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

SDOW

SDOW Risk / Return Rank: 4
SDOW Sharpe Ratio Rank: 3
SDOW Sortino Ratio Rank: 3
SDOW Omega Ratio Rank: 3
SDOW Calmar Ratio Rank: 3
SDOW Martin Ratio Rank: 7

MUU

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

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.

SDOW vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short Dow30 (SDOW) 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.

	SDOW	MUU	Difference
Sharpe ratio Return per unit of total volatility	-0.59	6.16	-6.75
Sortino ratio Return per unit of downside risk	-0.61	3.70	-4.31
Omega ratio Gain probability vs. loss probability	0.92	1.49	-0.58
Calmar ratio Return relative to maximum drawdown	-0.54	14.42	-14.96
Martin ratio Return relative to average drawdown	-0.70	40.98	-41.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SDOW vs. MUU - Sharpe Ratio Comparison

The current SDOW Sharpe Ratio is -0.59, which is lower than the MUU Sharpe Ratio of 6.16. The chart below compares the historical Sharpe Ratios of SDOW and MUU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SDOW	MUU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.59	6.16	-6.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.52	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.76	1.52	-2.28

Correlation

The correlation between SDOW and MUU is -0.36. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SDOW vs. MUU - Dividend Comparison

SDOW's dividend yield for the trailing twelve months is around 4.19%, more than MUU's 4.03% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SDOW ProShares UltraPro Short Dow30	4.19%	5.80%	8.30%	5.38%	0.36%	0.00%	0.52%	2.17%	1.23%	0.09%
MUU Direxion Daily MU Bull 2X Shares	4.03%	4.27%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SDOW vs. MUU - Drawdown Comparison

The maximum SDOW drawdown since its inception was -99.96%, which is greater than MUU's maximum drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for SDOW and MUU.

Drawdown Indicators

	SDOW	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-75.07%	-24.89%
Max Drawdown (1Y) Largest decline over 1 year	-58.80%	-52.72%	-6.08%
Max Drawdown (5Y) Largest decline over 5 years	-80.95%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.20%	—	—
Current Drawdown Current decline from peak	-99.95%	-48.14%	-51.81%
Average Drawdown Average peak-to-trough decline	-89.32%	-25.05%	-64.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.44%	18.55%	+26.89%

Volatility

SDOW vs. MUU - Volatility Comparison

The current volatility for ProShares UltraPro Short Dow30 (SDOW) is 14.79%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 46.74%. This indicates that SDOW 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

	SDOW	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.79%	46.74%	-31.95%
Volatility (6M) Calculated over the trailing 6-month period	27.65%	98.12%	-70.47%
Volatility (1Y) Calculated over the trailing 1-year period	50.29%	129.66%	-79.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.15%	127.08%	-82.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.05%	127.08%	-75.03%