TBXU vs. MUU

Last updated Jul 12, 2026

TBXU (Direxion Daily Biotech Top 5 Bull 2X ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds from Direxion. TBXU is actively managed, while MUU is passively managed. At a 0.10 correlation, their price movements are largely independent. TBXU charges 0.98%/yr vs 1.01%/yr for MUU.

Performance

TBXU vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Biotech Top 5 Bull 2X ETF (TBXU) 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, TBXU achieves a 4.27% return, which is significantly lower than MUU's 642.75% return.

TBXU

• 1D: -4.09%
• 1M: 7.73%
• 6M: 5.69%
• YTD: 4.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: -2.52%
• 1M: -13.00%
• 6M: 421.21%
• YTD: 642.75%
• 1Y: 3,083.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TBXU vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
TBXU Direxion Daily Biotech Top 5 Bull 2X ETF	4.27%	17.10%
MUU Direxion Daily MU Bull 2X Shares	642.75%	154.78%

Correlation

The correlation between TBXU and MUU is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.10

Return for Risk

TBXU vs. MUU — Risk / Return Rank

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

TBXU

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

MUU

MUU Risk / Return Rank: 99
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 97
MUU Calmar Ratio Rank: 100
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.

TBXU vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Biotech Top 5 Bull 2X ETF (TBXU) 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.

	TBXU	MUU	Difference
Sharpe ratio: Return per unit of total volatility	—	27.27	—
Sortino ratio: Return per unit of downside risk	—	5.80	—
Omega ratio: Gain probability vs. loss probability	—	1.72	—
Calmar ratio: Return relative to maximum drawdown	—	75.03	—
Martin ratio: Return relative to average drawdown	—	245.78	—

Drawdowns

TBXU vs. MUU - Drawdown Comparison

The maximum TBXU drawdown since its inception was -26.53%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for TBXU and MUU.

Drawdown Indicators

	TBXU	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-26.53%	-75.07%	+48.54%
Max Drawdown (1Y) Largest decline over 1 year	—	-52.72%	—
Current Drawdown Current decline from peak	-12.54%	-30.01%	+17.47%
Average Drawdown Average peak-to-trough decline	-9.53%	-23.40%	+13.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	16.41%	—

Volatility

Volatility by Period

	TBXU	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	67.23%	—
Volatility (6M) Calculated over the trailing 6-month period	—	116.08%	—
Volatility (1Y) Calculated over the trailing 1-year period	42.42%	145.04%	-102.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.42%	138.03%	-95.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.42%	138.03%	-95.61%

TBXU vs. MUU - Expense Ratio Comparison

TBXU has a 0.98% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

TBXU vs. MUU - Dividend Comparison

TBXU's dividend yield for the trailing twelve months is around 1.94%, more than MUU's 0.64% yield.

Position	TTM	2025	2024
MUU Direxion Daily MU Bull 2X Shares	0.64%	4.27%	0.31%
TBXU Direxion Daily Biotech Top 5 Bull 2X ETF	1.94%	1.33%	0.00%

Frequently Asked Questions

Can I hold both TBXU and MUU in my portfolio?

TBXU and MUU have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TBXU or MUU?

On fees, TBXU is cheaper at 0.98% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TBXU or MUU?

TBXU is cheaper with a 0.98% expense ratio, compared with 1.01% for MUU.

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

TBXU has the higher dividend yield at 1.94%, compared with 0.64% for MUU.

What is the main difference between TBXU and MUU?

Their fees differ too: 0.98% for TBXU and 1.01% for MUU.