URSP vs. MUU

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares Ultra S&P 500 Equal Weight ETF (URSP) and Direxion Daily MU Bull 2X Shares (MUU).

URSP and MUU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. URSP is a passively managed fund by ProShares that tracks the performance of the S&P 500 Equal Weight Index. It was launched on Aug 25, 2025. MUU is an actively managed fund by Direxion. It was launched on Oct 9, 2024.

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.

URSP vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
URSP ProShares Ultra S&P 500 Equal Weight ETF	-0.70%	1.57%
MUU Direxion Daily MU Bull 2X Shares	19.95%	397.53%

Returns By Period

In the year-to-date period, URSP achieves a -0.70% return, which is significantly lower than MUU's 19.95% return.

URSP

• 1D: 3.91%
• 1M: -12.42%
• YTD: -0.70%
• 6M: -0.13%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: 9.69%
• 1M: -37.04%
• YTD: 19.95%
• 6M: 205.62%
• 1Y: 790.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

URSP vs. MUU - Expense Ratio Comparison

URSP has a 0.95% expense ratio, which is lower than MUU's 1.06% expense ratio.

MUU

Direxion Daily MU Bull 2X Shares

URSP

ProShares Ultra S&P 500 Equal Weight ETF

Return for Risk

URSP vs. MUU — Risk / Return Rank

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

MUU

MUU Risk / Return Rank: 98
MUU Sharpe Ratio Rank: 99
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 96
MUU Calmar Ratio Rank: 99
MUU Martin Ratio Rank: 98

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.

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.

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

Sharpe Ratios by Period

	URSP	MUU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	6.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	1.52	-1.45

Correlation

The correlation between URSP and MUU is 0.33, 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

URSP vs. MUU - Dividend Comparison

URSP's dividend yield for the trailing twelve months is around 0.69%, less than MUU's 4.03% yield.

	TTM	2025	2024
URSP ProShares Ultra S&P 500 Equal Weight ETF	0.69%	0.38%	0.00%
MUU Direxion Daily MU Bull 2X Shares	4.03%	4.27%	0.31%

Drawdowns

URSP vs. MUU - Drawdown Comparison

The maximum URSP drawdown since its inception was -15.72%, smaller than the maximum MUU drawdown of -75.07%. 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%	-75.07%	+59.35%
Max Drawdown (1Y) Largest decline over 1 year	—	-52.72%	—
Current Drawdown Current decline from peak	-12.42%	-48.14%	+35.72%
Average Drawdown Average peak-to-trough decline	-3.06%	-25.05%	+21.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	18.55%	—

Volatility

Volatility by Period

	URSP	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	46.74%	—
Volatility (6M) Calculated over the trailing 6-month period	—	98.12%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.11%	129.66%	-105.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.11%	127.08%	-102.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.11%	127.08%	-102.97%