UPW vs. MUU
Compare and contrast key facts about ProShares Ultra Utilities (UPW) and Direxion Daily MU Bull 2X Shares (MUU).
UPW and MUU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UPW is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Utilities Index (200%). It was launched on Jan 30, 2007. MUU is an actively managed fund by Direxion. It was launched on Oct 9, 2024.
Performance
UPW vs. MUU - Performance Comparison
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UPW vs. MUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UPW ProShares Ultra Utilities | 14.41% | 23.61% | -8.01% |
MUU Direxion Daily MU Bull 2X Shares | 19.95% | 599.03% | -43.09% |
Returns By Period
In the year-to-date period, UPW achieves a 14.41% return, which is significantly lower than MUU's 19.95% return.
UPW
- 1D
- -0.37%
- 1M
- -7.21%
- YTD
- 14.41%
- 6M
- 9.25%
- 1Y
- 30.87%
- 3Y*
- 18.27%
- 5Y*
- 12.78%
- 10Y*
- 11.18%
MUU
- 1D
- 9.69%
- 1M
- -37.04%
- YTD
- 19.95%
- 6M
- 205.62%
- 1Y
- 790.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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UPW vs. MUU - Expense Ratio Comparison
UPW has a 0.95% expense ratio, which is lower than MUU's 1.06% expense ratio.
Return for Risk
UPW vs. MUU — Risk / Return Rank
UPW
MUU
UPW vs. MUU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Utilities (UPW) 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.
| UPW | MUU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.99 | 6.16 | -5.17 |
Sortino ratioReturn per unit of downside risk | 1.41 | 3.70 | -2.29 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.49 | -0.30 |
Calmar ratioReturn relative to maximum drawdown | 1.78 | 14.42 | -12.64 |
Martin ratioReturn relative to average drawdown | 4.17 | 40.98 | -36.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UPW | MUU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.99 | 6.16 | -5.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 1.52 | -1.25 |
Correlation
The correlation between UPW and MUU is 0.14, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
UPW vs. MUU - Dividend Comparison
UPW's dividend yield for the trailing twelve months is around 1.40%, less than MUU's 4.03% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UPW ProShares Ultra Utilities | 1.40% | 1.67% | 1.83% | 2.40% | 1.55% | 1.30% | 0.83% | 0.83% | 1.98% | 1.51% | 1.70% | 2.16% |
MUU Direxion Daily MU Bull 2X Shares | 4.03% | 4.27% | 0.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
UPW vs. MUU - Drawdown Comparison
The maximum UPW drawdown since its inception was -77.75%, roughly equal to the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for UPW and MUU.
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Drawdown Indicators
| UPW | MUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.75% | -75.07% | -2.68% |
Max Drawdown (1Y)Largest decline over 1 year | -18.93% | -52.72% | +33.79% |
Max Drawdown (5Y)Largest decline over 5 years | -49.42% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -62.67% | — | — |
Current DrawdownCurrent decline from peak | -7.21% | -48.14% | +40.93% |
Average DrawdownAverage peak-to-trough decline | -22.71% | -25.05% | +2.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.09% | 18.55% | -10.46% |
Volatility
UPW vs. MUU - Volatility Comparison
The current volatility for ProShares Ultra Utilities (UPW) is 10.16%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 46.74%. This indicates that UPW 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.
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Volatility by Period
| UPW | MUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.16% | 46.74% | -36.58% |
Volatility (6M)Calculated over the trailing 6-month period | 20.93% | 98.12% | -77.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.45% | 129.66% | -98.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.11% | 127.08% | -92.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.07% | 127.08% | -90.01% |