VRTL vs. MUU

Last updated Jul 14, 2026

VRTL (GraniteShares 2x Long VRT Daily ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. VRTL is actively managed, while MUU is passively managed. Over the past year, VRTL returned 264.81% vs 2796.55% for MUU. A 0.50 correlation means they provide meaningful diversification when combined. VRTL charges 1.50%/yr vs 1.01%/yr for MUU.

Performance

VRTL vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long VRT Daily ETF (VRTL) 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, VRTL achieves a 157.20% return, which is significantly lower than MUU's 575.80% return.

VRTL

• 1D: -8.17%
• 1M: -4.43%
• 6M: 137.91%
• YTD: 157.20%
• 1Y: 264.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: -9.01%
• 1M: -18.36%
• 6M: 372.65%
• YTD: 575.80%
• 1Y: 2,796.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VRTL vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
VRTL GraniteShares 2x Long VRT Daily ETF	157.20%	110.50%
MUU Direxion Daily MU Bull 2X Shares	575.80%	495.55%

Correlation

The correlation between VRTL and MUU is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Mar 25, 2025	0.50

The correlation between VRTL and MUU has been stable across timeframes, ranging from 0.47 to 0.50 - a consistent structural relationship.

Return for Risk

VRTL vs. MUU — Risk / Return Rank

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

VRTL

VRTL Risk / Return Rank: 81
VRTL Sharpe Ratio Rank: 85
VRTL Sortino Ratio Rank: 76
VRTL Omega Ratio Rank: 71
VRTL Calmar Ratio Rank: 94
VRTL Martin Ratio Rank: 80

MUU

MUU Risk / Return Rank: 99
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 96
MUU Calmar Ratio Rank: 100
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.

VRTL vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long VRT Daily ETF (VRTL) 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.

	VRTL	MUU	Difference
Sharpe ratio: Return per unit of total volatility	2.17	23.95	-21.78
Sortino ratio: Return per unit of downside risk	2.72	5.62	-2.90
Omega ratio: Gain probability vs. loss probability	1.33	1.69	-0.36
Calmar ratio: Return relative to maximum drawdown	5.62	66.09	-60.47
Martin ratio: Return relative to average drawdown	12.20	221.31	-209.11

VRTL vs. MUU - Sharpe Ratio Comparison

The current VRTL Sharpe Ratio is 2.17, which is lower than the MUU Sharpe Ratio of 23.95. The chart below compares the historical Sharpe Ratios of VRTL and MUU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VRTL vs. MUU - Drawdown Comparison

The maximum VRTL drawdown since its inception was -60.58%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for VRTL and MUU.

Drawdown Indicators

	VRTL	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-60.58%	-75.07%	+14.49%
Max Drawdown (1Y) Largest decline over 1 year	-47.45%	-52.72%	+5.27%
Current Drawdown Current decline from peak	-40.95%	-36.32%	-4.63%
Average Drawdown Average peak-to-trough decline	-16.75%	-23.43%	+6.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.82%	16.57%	+5.25%

Volatility

VRTL vs. MUU - Volatility Comparison

The current volatility for GraniteShares 2x Long VRT Daily ETF (VRTL) is 50.97%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 67.81%. This indicates that VRTL 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.

Volatility by Period

	VRTL	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	50.97%	67.81%	-16.84%
Volatility (6M) Calculated over the trailing 6-month period	95.41%	116.35%	-20.94%
Volatility (1Y) Calculated over the trailing 1-year period	123.18%	145.78%	-22.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	127.88%	138.10%	-10.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	127.88%	138.10%	-10.22%

VRTL vs. MUU - Expense Ratio Comparison

VRTL has a 1.50% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

VRTL vs. MUU - Dividend Comparison

VRTL has not paid dividends to shareholders, while MUU's dividend yield for the trailing twelve months is around 0.70%.

Position	TTM	2025	2024
MUU Direxion Daily MU Bull 2X Shares	0.70%	4.27%	0.31%
VRTL GraniteShares 2x Long VRT Daily ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VRTL and MUU in my portfolio?

VRTL and MUU have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VRTL or MUU?

MUU has higher volatility (67.81%) compared to VRTL (50.97%). In terms of maximum drawdown, VRTL dropped -60.58% vs MUU's -75.07%.

Which ETF is better, VRTL or MUU?

On 1-year performance, MUU leads with 2796.55% vs 264.81% for VRTL. On fees, MUU is cheaper at 1.01% per year. On volatility, VRTL has been the lower-risk option at 50.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VRTL or MUU?

Over the 1-year period, MUU has performed better with a 2796.55% return vs 264.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VRTL or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.50% for VRTL.

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

MUU has the higher dividend yield at 0.70%, compared with 0.00% for VRTL.

What is the main difference between VRTL and MUU?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for VRTL and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (23.95 vs 2.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.