SPUU vs. MUU

Last updated Jun 24, 2026

SPUU (Direxion Daily S&P 500 Bull 2X ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds from Direxion - SPUU tracks the S&P 500 Index (200% Daily) while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. Their correlation of 0.90 suggests significant overlap in exposure. SPUU charges 0.60%/yr vs 1.01%/yr for MUU.

Performance

SPUU vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily S&P 500 Bull 2X ETF (SPUU) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPUU

• 1D: -2.91%
• 1M: -3.20%
• YTD: 13.33%
• 6M: 10.95%
• 1Y: 43.00%
• 3Y*: 34.33%
• 5Y*: 18.44%
• 10Y*: 24.81%

MUU

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

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

SPUU vs. MUU - Yearly Performance Comparison

	2026 (YTD)
SPUU Direxion Daily S&P 500 Bull 2X ETF	-5.12%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between SPUU and MUU is 0.90, 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	0.90

Return for Risk

SPUU vs. MUU — Risk / Return Rank

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

SPUU

SPUU Risk / Return Rank: 51
SPUU Sharpe Ratio Rank: 52
SPUU Sortino Ratio Rank: 47
SPUU Omega Ratio Rank: 48
SPUU Calmar Ratio Rank: 50
SPUU Martin Ratio Rank: 59

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.

SPUU vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 Bull 2X ETF (SPUU) 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.

	SPUU	MUU	Difference
Sharpe ratio: Return per unit of total volatility	1.72	—	—
Sortino ratio: Return per unit of downside risk	2.25	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.38	—	—
Martin ratio: Return relative to average drawdown	10.11	—	—

Drawdowns

SPUU vs. MUU - Drawdown Comparison

The maximum SPUU drawdown since its inception was -59.35%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for SPUU and MUU.

Drawdown Indicators

	SPUU	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-59.35%	-26.28%	-33.07%
Max Drawdown (1Y) Largest decline over 1 year	-18.19%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-35.18%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-46.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-59.35%	—	—
Current Drawdown Current decline from peak	-6.62%	-26.28%	+19.66%
Average Drawdown Average peak-to-trough decline	-9.48%	-10.19%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.27%	—	—

Volatility

Volatility by Period

	SPUU	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.70%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.93%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.22%	295.32%	-270.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.67%	295.32%	-261.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.81%	295.32%	-259.51%

SPUU vs. MUU - Expense Ratio Comparison

SPUU has a 0.60% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

SPUU vs. MUU - Dividend Comparison

SPUU's dividend yield for the trailing twelve months is around 1.42%, while MUU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MUU Direxion Daily MU Bull 2X Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPUU Direxion Daily S&P 500 Bull 2X ETF	1.42%	1.63%	0.55%	0.83%	0.88%	3.04%	8.03%	1.80%	5.50%	6.96%	8.08%	4.42%

Frequently Asked Questions

Can I hold both SPUU and MUU in my portfolio?

With a correlation of 0.90, SPUU and MUU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, SPUU or MUU?

On fees, SPUU is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPUU or MUU?

SPUU is cheaper with a 0.60% expense ratio, compared with 1.01% for MUU.

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

SPUU has the higher dividend yield at 1.42%, compared with 0.00% for MUU.

What is the main difference between SPUU and MUU?

SPUU tracks S&P 500 Index (200% Daily), while MUU tracks Micron Technology, Inc. (200% Daily). Their fees differ too: 0.60% for SPUU and 1.01% for MUU.