SOUX vs. MUU

Last updated Jul 17, 2026

SOUX (Defiance Daily Target 2X Long SOUN ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. Over the past year, SOUX returned -89.16% vs 2599.25% for MUU. At a 0.27 correlation, their price movements are largely independent. SOUX charges 1.29%/yr vs 1.01%/yr for MUU.

Performance

SOUX vs. MUU - Performance Comparison

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

Returns By Period

In the year-to-date period, SOUX achieves a -75.22% return, which is significantly lower than MUU's 449.17% return.

SOUX

• 1D: -5.93%
• 1M: -23.26%
• 6M: -78.86%
• YTD: -75.22%
• 1Y: -89.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: -12.02%
• 1M: -37.86%
• 6M: 305.92%
• YTD: 449.17%
• 1Y: 2,599.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SOUX vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
SOUX Defiance Daily Target 2X Long SOUN ETF	-75.22%	-41.14%
MUU Direxion Daily MU Bull 2X Shares	449.17%	342.10%

Correlation

The correlation between SOUX and MUU is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (All Time) Calculated using the full available price history since Jun 24, 2025	0.27

Return for Risk

SOUX vs. MUU — Risk / Return Rank

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

SOUX

SOUX Risk / Return Rank: 3
SOUX Sharpe Ratio Rank: 5
SOUX Sortino Ratio Rank: 3
SOUX Omega Ratio Rank: 4
SOUX Calmar Ratio Rank: 1
SOUX Martin Ratio Rank: 3

MUU

MUU Risk / Return Rank: 98
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 95
MUU Calmar Ratio Rank: 99
MUU Martin Ratio Rank: 99

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.

SOUX vs. MUU - Risk-Adjusted Trends Comparison

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

	SOUX	MUU	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	17.30	-17.86
Sortino ratio: Return per unit of downside risk	-1.00	5.00	-6.00
Omega ratio: Gain probability vs. loss probability	0.90	1.63	-0.73
Calmar ratio: Return relative to maximum drawdown	-0.93	47.69	-48.62
Martin ratio: Return relative to average drawdown	-1.21	152.81	-154.02

SOUX vs. MUU - Sharpe Ratio Comparison

The current SOUX Sharpe Ratio is -0.56, which is lower than the MUU Sharpe Ratio of 17.30. The chart below compares the historical Sharpe Ratios of SOUX and MUU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SOUX vs. MUU - Drawdown Comparison

The maximum SOUX drawdown since its inception was -95.67%, which is greater than MUU's maximum drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for SOUX and MUU.

Drawdown Indicators

	SOUX	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-95.67%	-75.07%	-20.60%
Max Drawdown (1Y) Largest decline over 1 year	-95.67%	-55.25%	-40.42%
Current Drawdown Current decline from peak	-95.63%	-55.25%	-40.38%
Average Drawdown Average peak-to-trough decline	-63.15%	-23.62%	-39.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	73.55%	17.31%	+56.24%

Volatility

SOUX vs. MUU - Volatility Comparison

The current volatility for Defiance Daily Target 2X Long SOUN ETF (SOUX) is 29.08%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 62.52%. This indicates that SOUX 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

	SOUX	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.08%	62.52%	-33.44%
Volatility (6M) Calculated over the trailing 6-month period	103.94%	125.23%	-21.29%
Volatility (1Y) Calculated over the trailing 1-year period	158.67%	152.52%	+6.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	158.56%	142.32%	+16.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	158.56%	142.32%	+16.24%

SOUX vs. MUU - Expense Ratio Comparison

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

Dividends

SOUX vs. MUU - Dividend Comparison

SOUX's dividend yield for the trailing twelve months is around 81.88%, more than MUU's 1.24% yield.

Position	TTM	2025	2024
MUU Direxion Daily MU Bull 2X Shares	1.24%	4.27%	0.31%
SOUX Defiance Daily Target 2X Long SOUN ETF	81.88%	20.29%	0.00%

Frequently Asked Questions

Can I hold both SOUX and MUU in my portfolio?

SOUX and MUU have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOUX or MUU?

MUU has higher volatility (62.52%) compared to SOUX (29.08%). In terms of maximum drawdown, SOUX dropped -95.67% vs MUU's -75.07%.

Which ETF is better, SOUX or MUU?

On 1-year performance, MUU leads with 2599.25% vs -89.16% for SOUX. On fees, MUU is cheaper at 1.01% per year. On volatility, SOUX has been the lower-risk option at 29.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOUX or MUU?

Over the 1-year period, MUU has performed better with a 2599.25% return vs -89.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOUX or MUU?

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

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

SOUX has the higher dividend yield at 81.88%, compared with 1.24% for MUU.

What is the main difference between SOUX and MUU?

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

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (17.30 vs -0.56), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.