UNHU vs. IBMT

Last updated Jun 4, 2026

UNHU (Direxion Daily UNH Bull 2X ETF) and IBMT (iShares iBonds Dec 2031 Term Muni Bond ETF) are both exchange-traded funds - UNHU is a Leveraged Equities fund actively managed by Direxion, while IBMT is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Dec 2031 Index. UNHU is actively managed, while IBMT is passively managed. At a correlation of -0.19, they often move in opposite directions. UNHU charges 0.97%/yr vs 0.18%/yr for IBMT.

Performance

UNHU vs. IBMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily UNH Bull 2X ETF (UNHU) and iShares iBonds Dec 2031 Term Muni Bond ETF (IBMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

UNHU

• 1D: -0.06%
• 1M: 2.76%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBMT

• 1D: -0.02%
• 1M: 0.35%
• YTD: 0.19%
• 6M: 0.25%
• 1Y: 6.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UNHU vs. IBMT - Yearly Performance Comparison

	2026 (YTD)
UNHU Direxion Daily UNH Bull 2X ETF	86.70%
IBMT iShares iBonds Dec 2031 Term Muni Bond ETF	1.04%

Correlation

The correlation between UNHU and IBMT is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 26, 2026	-0.19

Return for Risk

UNHU vs. IBMT — Risk / Return Rank

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

IBMT

IBMT Risk / Return Rank: 60
IBMT Sharpe Ratio Rank: 62
IBMT Sortino Ratio Rank: 76
IBMT Omega Ratio Rank: 78
IBMT Calmar Ratio Rank: 43
IBMT Martin Ratio Rank: 39

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.

UNHU vs. IBMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily UNH Bull 2X ETF (UNHU) and iShares iBonds Dec 2031 Term Muni Bond ETF (IBMT). 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.

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

Sharpe Ratios by Period

	UNHU	IBMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	38.25	1.63	+36.62

Drawdowns

UNHU vs. IBMT - Drawdown Comparison

The maximum UNHU drawdown since its inception was -11.68%, which is greater than IBMT's maximum drawdown of -3.18%. Use the drawdown chart below to compare losses from any high point for UNHU and IBMT.

Drawdown Indicators

	UNHU	IBMT	Difference
Max Drawdown Largest peak-to-trough decline	-11.68%	-3.18%	-8.50%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.10%	—
Current Drawdown Current decline from peak	-11.68%	-1.65%	-10.03%
Average Drawdown Average peak-to-trough decline	-2.99%	-0.74%	-2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.04%	—

Volatility

Volatility by Period

	UNHU	IBMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.78%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.06%	—
Volatility (1Y) Calculated over the trailing 1-year period	67.42%	3.11%	+64.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.42%	3.86%	+63.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.42%	3.86%	+63.56%

UNHU vs. IBMT - Expense Ratio Comparison

UNHU has a 0.97% expense ratio, which is higher than IBMT's 0.18% expense ratio.

Dividends

UNHU vs. IBMT - Dividend Comparison

UNHU has not paid dividends to shareholders, while IBMT's dividend yield for the trailing twelve months is around 3.65%.

Position	TTM	2025
IBMT iShares iBonds Dec 2031 Term Muni Bond ETF	3.65%	2.98%
UNHU Direxion Daily UNH Bull 2X ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both UNHU and IBMT in my portfolio?

UNHU and IBMT have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UNHU or IBMT?

On fees, IBMT is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UNHU or IBMT?

IBMT is cheaper with a 0.18% expense ratio, compared with 0.97% for UNHU.

Which ETF pays a higher dividend yield, UNHU or IBMT?

IBMT has the higher dividend yield at 3.65%, compared with 0.00% for UNHU.

What is the main difference between UNHU and IBMT?

UNHU is categorized as Leveraged Equities, while IBMT is Municipal Bonds. They also come from different issuers: Direxion and iShares. Their fees differ too: 0.97% for UNHU and 0.18% for IBMT.