URSP vs. MUU

Last updated Jun 23, 2026

URSP (ProShares Ultra S&P 500 Equal Weight ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds - URSP tracks the S&P 500 Equal Weight Index while MUU tracks the Micron Technology, Inc. (200% Daily). Both are passively managed. Their correlation of 0.80 suggests significant overlap in exposure. URSP charges 0.95%/yr vs 1.01%/yr for MUU.

Performance

URSP vs. MUU - Performance Comparison

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

Returns By Period

URSP

• 1D: 0.16%
• 1M: 3.15%
• YTD: 17.43%
• 6M: 14.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: 14.03%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

URSP vs. MUU - Yearly Performance Comparison

	2026 (YTD)
URSP ProShares Ultra S&P 500 Equal Weight ETF	-2.29%
MUU Direxion Daily MU Bull 2X Shares	19.23%

Correlation

The correlation between URSP and MUU is 0.80, 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	0.80

Return for Risk

URSP vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P 500 Equal Weight ETF (URSP) 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.

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

Drawdowns

URSP vs. MUU - Drawdown Comparison

The maximum URSP drawdown since its inception was -15.72%, which is greater than MUU's maximum drawdown of -14.14%. Use the drawdown chart below to compare losses from any high point for URSP and MUU.

Drawdown Indicators

	URSP	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-15.72%	-14.14%	-1.58%
Current Drawdown Current decline from peak	-2.29%	0.00%	-2.29%
Average Drawdown Average peak-to-trough decline	-3.09%	-6.17%	+3.08%

Volatility

Volatility by Period

	URSP	MUU	Difference
Volatility (1Y) Calculated over the trailing 1-year period	23.77%	222.50%	-198.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.77%	222.50%	-198.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.77%	222.50%	-198.73%

URSP vs. MUU - Expense Ratio Comparison

URSP has a 0.95% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

URSP vs. MUU - Dividend Comparison

URSP's dividend yield for the trailing twelve months is around 0.58%, while MUU has not paid dividends to shareholders.

Position	TTM	2025
MUU Direxion Daily MU Bull 2X Shares	0.00%	0.00%
URSP ProShares Ultra S&P 500 Equal Weight ETF	0.58%	0.38%

Frequently Asked Questions

Can I hold both URSP and MUU in my portfolio?

URSP and MUU have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, URSP or MUU?

On fees, URSP is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, URSP or MUU?

URSP is cheaper with a 0.95% expense ratio, compared with 1.01% for MUU.

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

URSP has the higher dividend yield at 0.58%, compared with 0.00% for MUU.

What is the main difference between URSP and MUU?

URSP tracks S&P 500 Equal Weight Index, while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for URSP and 1.01% for MUU.