SHNY vs. MUU

Last updated Jun 24, 2026

SHNY (MicroSectors Gold 3X Leveraged ETN) and MUU (Direxion Daily MU Bull 2X Shares) are both exchange-traded funds - SHNY is a Leveraged Commodities fund managed by BMO, while MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily). At a 0.20 correlation, their price movements are largely independent. SHNY charges 0.95%/yr vs 1.01%/yr for MUU.

Performance

SHNY vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Gold 3X Leveraged ETN (SHNY) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SHNY

• 1D: -5.70%
• 1M: -27.06%
• YTD: -34.20%
• 6M: -42.91%
• 1Y: 14.03%
• 3Y*: 49.33%
• 5Y*: —
• 10Y*: —

MUU

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

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

SHNY vs. MUU - Yearly Performance Comparison

	2026 (YTD)
SHNY MicroSectors Gold 3X Leveraged ETN	-14.51%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between SHNY and MUU is 0.20, 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	0.20

Return for Risk

SHNY vs. MUU — Risk / Return Rank

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

SHNY

SHNY Risk / Return Rank: 13
SHNY Sharpe Ratio Rank: 11
SHNY Sortino Ratio Rank: 15
SHNY Omega Ratio Rank: 17
SHNY Calmar Ratio Rank: 11
SHNY Martin Ratio Rank: 11

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.

SHNY vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold 3X Leveraged ETN (SHNY) 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.

	SHNY	MUU	Difference
Sharpe ratio: Return per unit of total volatility	0.17	—	—
Sortino ratio: Return per unit of downside risk	0.78	—	—
Omega ratio: Gain probability vs. loss probability	1.11	—	—
Calmar ratio: Return relative to maximum drawdown	0.22	—	—
Martin ratio: Return relative to average drawdown	0.49	—	—

Drawdowns

SHNY vs. MUU - Drawdown Comparison

The maximum SHNY drawdown since its inception was -65.54%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for SHNY and MUU.

Drawdown Indicators

	SHNY	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-65.54%	-26.28%	-39.26%
Max Drawdown (1Y) Largest decline over 1 year	-65.54%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-65.54%	—	—
Current Drawdown Current decline from peak	-65.38%	-26.28%	-39.10%
Average Drawdown Average peak-to-trough decline	-15.65%	-10.19%	-5.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.98%	—	—

Volatility

Volatility by Period

	SHNY	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.50%	—	—
Volatility (6M) Calculated over the trailing 6-month period	74.44%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	81.62%	295.32%	-213.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.25%	295.32%	-236.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.25%	295.32%	-236.07%

SHNY vs. MUU - Expense Ratio Comparison

SHNY has a 0.95% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

SHNY vs. MUU - Dividend Comparison

Neither SHNY nor MUU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SHNY and MUU in my portfolio?

SHNY and MUU have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SHNY or MUU?

On fees, SHNY is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SHNY or MUU?

SHNY is cheaper with a 0.95% expense ratio, compared with 1.01% for MUU.

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

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

What is the main difference between SHNY and MUU?

SHNY is categorized as Leveraged Commodities, while MUU is Leveraged Equities. They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for SHNY and 1.01% for MUU.