TSLI vs. MUU

Last updated Jul 21, 2026

TSLI (ProShares Ultra TSLA) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. TSLI is actively managed, while MUU is passively managed. At a 0.37 correlation, their price movements are largely independent.

Performance

TSLI vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra TSLA (TSLI) 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, TSLI achieves a -42.98% return, which is significantly lower than MUU's 465.14% return.

TSLI

• 1D: -6.08%
• 1M: -17.76%
• 6M: -39.39%
• YTD: -42.98%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

MUU

• 1D: 3.93%
• 1M: -47.49%
• 6M: 261.86%
• YTD: 465.14%
• 1Y: 2,789.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 490.43%

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

TSLI vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
TSLI ProShares Ultra TSLA	-42.98%	48.21%
MUU Direxion Daily MU Bull 2X Shares	465.14%	281.48%

Correlation

The correlation between TSLI and MUU is 0.37, 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 Sep 10, 2025	0.37

Return for Risk

TSLI vs. MUU — Risk / Return Rank

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

TSLI

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

MUU

MUU Risk / Return Rank: 98
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 96
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.

TSLI vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra TSLA (TSLI) 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.

	TSLI	MUU	Difference
Sharpe ratio: Return per unit of total volatility	—	18.58	—
Sortino ratio: Return per unit of downside risk	—	5.08	—
Omega ratio: Gain probability vs. loss probability	—	1.64	—
Calmar ratio: Return relative to maximum drawdown	—	50.78	—
Martin ratio: Return relative to average drawdown	—	157.91	—

Drawdowns

TSLI vs. MUU - Drawdown Comparison

The maximum TSLI drawdown since its inception was -54.83%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for TSLI and MUU.

Drawdown Indicators

	TSLI	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-54.83%	-75.07%	+20.24%
Max Drawdown (1Y) Largest decline over 1 year	—	-55.69%	—
Current Drawdown Current decline from peak	-52.59%	-53.95%	+1.36%
Average Drawdown Average peak-to-trough decline	-27.28%	-23.76%	-3.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	17.89%	—

Volatility

Volatility by Period

	TSLI	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	61.69%	—
Volatility (6M) Calculated over the trailing 6-month period	—	125.21%	—
Volatility (1Y) Calculated over the trailing 1-year period	89.95%	152.49%	-62.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.95%	142.02%	-52.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.95%	142.02%	-52.07%

Dividends

TSLI vs. MUU - Dividend Comparison

TSLI's dividend yield for the trailing twelve months is around 12.34%, more than MUU's 1.20% yield.

Position	TTM	2025	2024
MUU Direxion Daily MU Bull 2X Shares	1.20%	4.27%	0.31%
TSLI ProShares Ultra TSLA	12.34%	6.17%	0.00%

Frequently Asked Questions

Can I hold both TSLI and MUU in my portfolio?

TSLI and MUU have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

TSLI has the higher dividend yield at 12.34%, compared with 1.20% for MUU.

What is the main difference between TSLI and MUU?

They also come from different issuers: ProShares and Direxion.