VSTL vs. MUU

Last updated Aug 1, 2026

VSTL (Defiance Daily Target 2X Long VST ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. VSTL is actively managed, while MUU is passively managed. Over the past year, VSTL returned -66.54% vs 2805.45% for MUU. Their 0.39 correlation means their historical movements had little consistent relationship. VSTL charges 1.29%/yr vs 1.01%/yr for MUU.

Performance

VSTL vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long VST ETF (VSTL) 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, VSTL achieves a -35.33% return, which is significantly lower than MUU's 372.51% return.

VSTL

• 1D: -0.06%
• 1M: -6.33%
• 6M: -28.91%
• YTD: -35.33%
• 1Y: -66.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -58.65%

MUU

• 1D: -12.24%
• 1M: -36.47%
• 6M: 134.93%
• YTD: 372.51%
• 1Y: 2,805.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 419.04%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MUU Direxion Daily MU Bull 2X Shares	$1.51B	$1.57B	$2.27B
VSTL Defiance Daily Target 2X Long VST ETF	$651.64K	$708.80K	$1.90M

VSTL vs. MUU - Yearly Performance Comparison

	2026 (YTD)	2025
VSTL Defiance Daily Target 2X Long VST ETF	-35.33%	-37.40%
MUU Direxion Daily MU Bull 2X Shares	372.51%	421.81%

Correlation

The correlation between VSTL and MUU is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (All Time) Calculated using the full available price history since Jul 22, 2025	0.39

Return for Risk

VSTL vs. MUU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VSTL

VSTL Risk / Return Rank: 3
VSTL Sharpe Ratio Rank: 4
VSTL Sortino Ratio Rank: 4
VSTL Omega Ratio Rank: 4
VSTL Calmar Ratio Rank: 1
VSTL Martin Ratio Rank: 1

MUU

MUU Risk / Return Rank: 98
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 97
MUU Omega Ratio Rank: 96
MUU Calmar Ratio Rank: 99
MUU Martin Ratio Rank: 99

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VSTL vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long VST ETF (VSTL) 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.

	VSTL	MUU	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	16.13	-16.82
Sortino ratio: Return per unit of downside risk	-0.87	4.86	-5.73
Omega ratio: Gain probability vs. loss probability	0.90	1.61	-0.70
Calmar ratio: Return relative to maximum drawdown	-0.94	38.27	-39.20
Martin ratio: Return relative to average drawdown	-1.36	127.21	-128.58

VSTL vs. MUU - Sharpe Ratio Comparison

The current VSTL Sharpe Ratio is -0.69, which is lower than the MUU Sharpe Ratio of 16.13. The chart below compares the historical Sharpe Ratios of VSTL 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

VSTL vs. MUU - Drawdown Comparison

The maximum VSTL drawdown since its inception was -71.42%, roughly equal to the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for VSTL and MUU.

Drawdown Indicators

	VSTL	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-71.42%	-75.07%	+3.65%
Max Drawdown (1Y) Largest decline over 1 year	-71.42%	-68.07%	-3.35%
Current Drawdown Current decline from peak	-68.28%	-61.50%	-6.78%
Average Drawdown Average peak-to-trough decline	-43.67%	-24.34%	-19.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.96%	20.44%	+28.52%

Volatility

VSTL vs. MUU - Volatility Comparison

The current volatility for Defiance Daily Target 2X Long VST ETF (VSTL) is 25.95%, while Direxion Daily MU Bull 2X Shares (MUU) has a volatility of 62.16%. This indicates that VSTL 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

	VSTL	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.95%	62.16%	-36.21%
Volatility (6M) Calculated over the trailing 6-month period	68.40%	134.20%	-65.80%
Volatility (1Y) Calculated over the trailing 1-year period	97.01%	161.94%	-64.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.03%	146.71%	-49.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.03%	146.71%	-49.68%

VSTL vs. MUU - Expense Ratio Comparison

VSTL has a 1.29% expense ratio, which is higher than MUU's 1.01% expense ratio.

Dividends

VSTL vs. MUU - Dividend Comparison

VSTL has not paid dividends to shareholders, while MUU's dividend yield for the trailing twelve months is around 1.44%.

Position	TTM	2025	2024
MUU Direxion Daily MU Bull 2X Shares	1.44%	4.27%	0.31%
VSTL Defiance Daily Target 2X Long VST ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VSTL and MUU in my portfolio?

VSTL and MUU have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSTL or MUU?

MUU has higher volatility (62.16%) compared to VSTL (25.95%). In terms of maximum drawdown, VSTL dropped -71.42% vs MUU's -75.07%.

Which ETF is better, VSTL or MUU?

On 1-year performance, MUU leads with 2805.45% vs -66.54% for VSTL. On fees, MUU is cheaper at 1.01% per year. On volatility, VSTL has been the lower-risk option at 25.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VSTL or MUU?

Over the 1-year period, MUU has performed better with a 2805.45% return vs -66.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VSTL or MUU?

MUU is cheaper with a 1.01% expense ratio, compared with 1.29% for VSTL.

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

MUU has the higher dividend yield at 1.44%, compared with 0.00% for VSTL.

What is the main difference between VSTL and MUU?

They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.29% for VSTL and 1.01% for MUU.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (16.13 vs -0.69), 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.