SMCX vs. MUU

Last updated Jun 26, 2026

SMCX (Defiance Daily Target 2X Long SMCI ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. SMCX is actively managed, while MUU is passively managed. Their correlation of 0.82 suggests significant overlap in exposure. SMCX charges 1.29%/yr vs 1.01%/yr for MUU.

Performance

SMCX vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long SMCI ETF (SMCX) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SMCX

• 1D: -4.77%
• 1M: -45.41%
• YTD: -53.60%
• 6M: -57.75%
• 1Y: -87.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

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

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

SMCX vs. MUU - Yearly Performance Comparison

	2026 (YTD)
SMCX Defiance Daily Target 2X Long SMCI ETF	0.57%
MUU Direxion Daily MU Bull 2X Shares	14.65%

Correlation

The correlation between SMCX and MUU is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 16, 2026	0.82

Return for Risk

SMCX vs. MUU — Risk / Return Rank

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

SMCX

SMCX Risk / Return Rank: 5
SMCX Sharpe Ratio Rank: 5
SMCX Sortino Ratio Rank: 7
SMCX Omega Ratio Rank: 6
SMCX Calmar Ratio Rank: 1
SMCX Martin Ratio Rank: 4

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.

SMCX vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long SMCI ETF (SMCX) 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.

	SMCX	MUU	Difference
Sharpe ratio: Return per unit of total volatility	-0.51	—	—
Sortino ratio: Return per unit of downside risk	-0.27	—	—
Omega ratio: Gain probability vs. loss probability	0.96	—	—
Calmar ratio: Return relative to maximum drawdown	-0.93	—	—
Martin ratio: Return relative to average drawdown	-1.23	—	—

Drawdowns

SMCX vs. MUU - Drawdown Comparison

The maximum SMCX drawdown since its inception was -99.08%, which is greater than MUU's maximum drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for SMCX and MUU.

Drawdown Indicators

	SMCX	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-99.08%	-26.63%	-72.45%
Max Drawdown (1Y) Largest decline over 1 year	-94.75%	—	—
Current Drawdown Current decline from peak	-98.66%	-3.84%	-94.82%
Average Drawdown Average peak-to-trough decline	-88.16%	-11.62%	-76.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	71.18%	—	—

Volatility

Volatility by Period

	SMCX	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	104.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	177.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	172.67%	307.99%	-135.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	204.87%	307.99%	-103.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	204.87%	307.99%	-103.12%

SMCX vs. MUU - Expense Ratio Comparison

SMCX has a 1.29% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

SMCX vs. MUU - Dividend Comparison

SMCX's dividend yield for the trailing twelve months is around 9.45%, more than MUU's 0.17% yield.

Position	TTM	2025
MUU Direxion Daily MU Bull 2X Shares	0.17%	0.00%
SMCX Defiance Daily Target 2X Long SMCI ETF	9.45%	4.39%

Frequently Asked Questions

Can I hold both SMCX and MUU in my portfolio?

SMCX and MUU have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMCX or MUU?

On fees, MUU is cheaper at 1.01% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMCX or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.29% for SMCX.

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

SMCX has the higher dividend yield at 9.45%, compared with 0.17% for MUU.

What is the main difference between SMCX and MUU?

They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.29% for SMCX and 1.01% for MUU.