SMUP vs. MUU

Last updated Jun 24, 2026

SMUP (T-REX 2X Long SMR Daily Target ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. SMUP is actively managed, while MUU is passively managed. A 0.50 correlation means they provide meaningful diversification when combined. SMUP charges 1.50%/yr vs 1.01%/yr for MUU.

Performance

SMUP vs. MUU - Performance Comparison

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

Returns By Period

SMUP

• 1D: -6.94%
• 1M: -18.02%
• YTD: -66.64%
• 6M: -74.05%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

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

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

SMUP vs. MUU - Yearly Performance Comparison

	2026 (YTD)
SMUP T-REX 2X Long SMR Daily Target ETF	0.78%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between SMUP and MUU is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 16, 2026	0.50

Return for Risk

SMUP vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Long SMR Daily Target ETF (SMUP) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

SMUP vs. MUU - Drawdown Comparison

The maximum SMUP drawdown since its inception was -98.91%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for SMUP and MUU.

Drawdown Indicators

	SMUP	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-98.91%	-26.28%	-72.63%
Current Drawdown Current decline from peak	-98.57%	-26.28%	-72.29%
Average Drawdown Average peak-to-trough decline	-79.92%	-10.19%	-69.73%

Volatility

Volatility by Period

	SMUP	MUU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	204.07%	295.32%	-91.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	204.07%	295.32%	-91.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	204.07%	295.32%	-91.25%

SMUP vs. MUU - Expense Ratio Comparison

SMUP has a 1.50% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

SMUP vs. MUU - Dividend Comparison

SMUP's dividend yield for the trailing twelve months is around 67.72%, while MUU has not paid dividends to shareholders.

Position	TTM	2025
MUU Direxion Daily MU Bull 2X Shares	0.00%	0.00%
SMUP T-REX 2X Long SMR Daily Target ETF	67.72%	22.59%

Frequently Asked Questions

Can I hold both SMUP and MUU in my portfolio?

SMUP and MUU have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMUP 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, SMUP or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.50% for SMUP.

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

SMUP has the higher dividend yield at 67.72%, compared with 0.00% for MUU.

What is the main difference between SMUP and MUU?

They also come from different issuers: T-Rex and Direxion. Their fees differ too: 1.50% for SMUP and 1.01% for MUU.