Which came closer to its stated multiple, MIC or MUD?

Over the window to Sep 30, 2026, MIC finished 18.0 points from what its multiple implies and MUD finished 11.3 points from its own, so MUD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are MIC and MUD levered on the same thing?

Yes. Both are levered on Micron Technology, MIC at +2 times and MUD at -1 times the daily move.

Which one decays faster, MIC or MUD?

Decay follows how much the underlying moves about. Over this window MIC’s moved at 76% annualized and MUD’s at 76%, so MIC has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold MIC or MUD for a year?

Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.

Which is cheaper, MIC or MUD?

MIC charges 0.45% a year and MUD charges 1.02%, so MIC is cheaper. Fees come from each fund's prospectus.

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MIC vs MUD: which held to its multiple?

Over three months against its own daily promise, MIC finished 4.4 points short and MUD 1.6 points over. Corgi MU 2x Daily ETF and Direxion Daily MU Bear 1X ETF.

−11.6%

MIC returned, 3 months

−14.5%

MUD returned, 3 months

−18.0 pts

MIC from its stated multiple

−11.3 pts

MUD from its stated multiple

MIC · 3 months to Sep 30, 202618 pts short of its stated multiple

MIC returned −11.6% while 2 times MU's move would have been +6.4%

MUD · 3 months to Sep 30, 202611.3 pts short of its stated multiple

MUD returned −14.5% while −1 times MU's move would have been −3.2%

ETFIQ Decay Resistance Score · MUD scores higherDid it keep up with its own daily multiple, compounded day by day?

MIC among the 470 leveraged ETFs, long, over three months

MIC 18.4

0.1, the lowest in this set99.9, the highest

MUD among the 125 inverse ETFs over three months

MUD 49.2

0.4, the lowest in this set99.6, the highest

A percentile among the 470 leveraged ETFs, long, over three months. MUD is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →

Performance, window by window

	Total return		Multiple would give		Difference
Window	MIC	MUD	MIC	MUD	MIC	MUD
1 month	+20.4%	−11.7%	+22.2%	−11.1%	−1.8 pts	−0.6 pts
3 months	−11.6%	−14.5%	+6.4%	−3.2%	−18.0 pts	−11.3 pts
6 months	not published	−76.7%	not published	not meaningful	not published	not meaningful
1 year	not published	−91.5%	not published	not meaningful	not published	not meaningful
Since launch MIC Jun 2026 · MUD Oct 2024	−29.2%	−96.0%	−15.4%	not meaningful	−13.8 pts	not meaningful

MIC and MUD over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

MIC

Corgi MU 2x Daily ETF · Aims to return twice the daily move of Micron Technology (MU)

MUD

Direxion Daily MU Bear 1X ETF · Aims to return 1 times the opposite of the daily move of Micron Technology (MU)

Issuer Corgi Direxion

Sets out to return +2x -1x

Underlying asset MU MU

Segment company company

Fund returned, 3 months or since launch −11.6% −14.5%

Underlying returned, over that window +3.2% +3.2%

What the stated multiple implies, over that window +6.4% −3.2%

Difference from stated, over that window −18.0 pts −11.3 pts

Fund returned, 1 year or since launch −29.2% −91.5%

Difference from stated, over that window −13.8 pts not available

Underlying volatility 76% 76%

Difference over the days both have traded −1.8 pts no shared window

Expense ratio 0.45% 1.02%

Launched Jun 30, 2026 Oct 10, 2024

Net assets $1m $31m

MIC and MUD on the same fields, as of Sep 30, 2026. Source: ETFIQ.

MIC in plain words

Three months to Sep 30, 2026: MIC returned −11.6% where its own daily promise gave −7.2%, 4.4 points short. Read the multiple against the whole window instead and 2 times MU's 3.2% implies +6.4%, which makes MIC look 18.0 points short. 13.6 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. MIC aims to return +2 times MU's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. MU moved at 76% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.

MUD in plain words

Three months to Sep 30, 2026: MUD returned −14.5% where its own daily promise gave −16.1%, 1.6 points over. Read the multiple against the whole window instead and −1 times MU's 3.2% implies −3.2%, which makes MUD look 11.3 points short. 12.9 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. MUD aims to return -1 times MU's move each day, then resets. Over longer, the daily results compound, so the total is not -1 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.

Questions people ask

Which came closer to its stated multiple, MIC or MUD?: Over the window to Sep 30, 2026, MIC finished 18.0 points from what its multiple implies and MUD finished 11.3 points from its own, so MUD came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are MIC and MUD levered on the same thing?: Yes. Both are levered on Micron Technology, MIC at +2 times and MUD at -1 times the daily move.
Which one decays faster, MIC or MUD?: Decay follows how much the underlying moves about. Over this window MIC’s moved at 76% annualized and MUD’s at 76%, so MIC has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold MIC or MUD for a year?: Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Which is cheaper, MIC or MUD?: MIC charges 0.45% a year and MUD charges 1.02%, so MIC is cheaper. Fees come from each fund's prospectus.

Other comparisons

MIC vs MUG MIC vs MULL MIC vs MUU MIC vs MUZ MUD vs MUG MUD vs MULL MUD vs MUU MUD vs MUZ

MIC on its own →MUD on its own →How every figure is computed →Standards and sources →

Where these figures came from

MIC filings on SEC EDGAR ↗MIC prospectus with the expense ratio (SEC) ↗Corgi website ↗MUD filings on SEC EDGAR ↗MUD prospectus with the expense ratio (SEC) ↗Direxion website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, MIC against MUD, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/mic-vs-mud

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.