SKYU vs. MUU

Last updated Jun 26, 2026

SKYU (ProShares Ultra Nasdaq Cloud Computing ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds - SKYU tracks the ISE Cloud Computing Index (200%) while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. At a correlation of -0.46, they often move in opposite directions. SKYU charges 0.95%/yr vs 1.01%/yr for MUU.

Performance

SKYU vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SKYU

• 1D: -3.96%
• 1M: -12.28%
• YTD: -12.74%
• 6M: -15.69%
• 1Y: 0.09%
• 3Y*: 26.71%
• 5Y*: -6.58%
• 10Y*: —

MUU

• 1D: 31.07%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SKYU vs. MUU - Yearly Performance Comparison

	2026 (YTD)
SKYU ProShares Ultra Nasdaq Cloud Computing ETF	-14.41%
MUU Direxion Daily MU Bull 2X Shares	14.65%

Correlation

The correlation between SKYU and MUU is -0.46, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 16, 2026	-0.46

Return for Risk

SKYU vs. MUU — Risk / Return Rank

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

SKYU

SKYU Risk / Return Rank: 10
SKYU Sharpe Ratio Rank: 9
SKYU Sortino Ratio Rank: 11
SKYU Omega Ratio Rank: 11
SKYU Calmar Ratio Rank: 9
SKYU Martin Ratio Rank: 9

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.

SKYU vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) 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.

	SKYU	MUU	Difference
Sharpe ratio: Return per unit of total volatility	0.00	—	—
Sortino ratio: Return per unit of downside risk	0.42	—	—
Omega ratio: Gain probability vs. loss probability	1.05	—	—
Calmar ratio: Return relative to maximum drawdown	0.00	—	—
Martin ratio: Return relative to average drawdown	0.00	—	—

Drawdowns

SKYU vs. MUU - Drawdown Comparison

The maximum SKYU drawdown since its inception was -83.01%, which is greater than MUU's maximum drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for SKYU and MUU.

Drawdown Indicators

	SKYU	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-83.01%	-26.63%	-56.38%
Max Drawdown (1Y) Largest decline over 1 year	-50.23%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-55.71%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-83.01%	—	—
Current Drawdown Current decline from peak	-43.81%	-3.84%	-39.97%
Average Drawdown Average peak-to-trough decline	-49.00%	-11.62%	-37.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.70%	—	—

Volatility

Volatility by Period

	SKYU	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.41%	—	—
Volatility (6M) Calculated over the trailing 6-month period	48.23%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	57.35%	307.99%	-250.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.19%	307.99%	-245.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.12%	307.99%	-246.87%

SKYU vs. MUU - Expense Ratio Comparison

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

Dividends

SKYU vs. MUU - Dividend Comparison

SKYU's dividend yield for the trailing twelve months is around 0.94%, more than MUU's 0.17% yield.

Position	TTM	2025	2024
MUU Direxion Daily MU Bull 2X Shares	0.17%	0.00%	0.00%
SKYU ProShares Ultra Nasdaq Cloud Computing ETF	0.94%	0.56%	0.21%

Frequently Asked Questions

Can I hold both SKYU and MUU in my portfolio?

SKYU and MUU have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SKYU or MUU?

On fees, SKYU 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, SKYU or MUU?

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

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

SKYU has the higher dividend yield at 0.94%, compared with 0.17% for MUU.

What is the main difference between SKYU and MUU?

SKYU tracks ISE Cloud Computing Index (200%), while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SKYU and 1.01% for MUU.