Which came closer to its stated multiple, MUU or MUZ?

Over the window to Sep 30, 2026, MUU finished 19.3 points from what its multiple implies and MUZ finished 36.8 points from its own, so MUU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are MUU and MUZ levered on the same thing?

Yes. Both are levered on Micron Technology, MUU at +2 times and MUZ at -2 times the daily move.

Which one decays faster, MUU or MUZ?

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

Can I hold MUU or MUZ 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, MUU or MUZ?

MUU charges 1.01% a year and MUZ charges 1.31%, so MUU is cheaper. Fees come from each fund's prospectus.

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MUU vs MUZ: which held to its multiple?

Over three months against its own daily promise, MUU finished 5.8 points short and MUZ 3.1 points short. Direxion Daily MU Bull 2X ETF and Defiance Daily Target 2X Short MU ETF.

−12.9%

MUU returned, 3 months

−43.2%

MUZ returned, 3 months

−19.3 pts

MUU from its stated multiple

−36.8 pts

MUZ from its stated multiple

MUU · 3 months to Sep 30, 202619.3 pts short of its stated multiple

MUU returned −12.9% while 2 times MU's move would have been +6.4%

MUZ · 3 months to Sep 30, 202636.8 pts short of its stated multiple

MUZ returned −43.2% while −2 times MU's move would have been −6.4%

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

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

MUU 10.2

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

MUZ among the 125 inverse ETFs over three months

MUZ 6

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

A percentile among the 470 leveraged ETFs, long, over three months. MUZ 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	MUU	MUZ	MUU	MUZ	MUU	MUZ
1 month	+20.9%	−25.8%	+22.2%	−22.2%	−1.3 pts	−3.6 pts
3 months	−12.9%	−43.2%	+6.4%	−6.4%	−19.3 pts	−36.8 pts
6 months	+423.3%	not published	not meaningful	not published	not meaningful	not published
1 year	+1777.1%	not published	not meaningful	not published	not meaningful	not published
Since launch MUU Oct 2024 · MUZ Jun 2026	+2831.1%	−67.1%	not meaningful	−27.6%	not meaningful	−39.5 pts

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

On the same fields

MUU

Direxion Daily MU Bull 2X ETF · Aims to return twice the daily move of Micron Technology (MU)

MUZ

Defiance Daily Target 2X Short MU ETF · Aims to return twice the opposite of the daily move of Micron Technology (MU)

Issuer Direxion Defiance

Sets out to return +2x -2x

Underlying asset MU MU

Segment company company

Fund returned, 3 months or since launch −12.9% −43.2%

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

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

Difference from stated, over that window −19.3 pts −36.8 pts

Fund returned, 1 year or since launch +1777.1% −67.1%

Difference from stated, over that window not available −39.5 pts

Underlying volatility 76% 76%

Difference over the days both have traded −1.3 pts no shared window

Expense ratio 1.01% 1.31%

Launched Oct 10, 2024 Jun 9, 2026

Net assets $4.4bn $43m

MUU and MUZ on the same fields, as of Sep 30, 2026. Source: ETFIQ.

MUU in plain words

Three months to Sep 30, 2026: MUU returned −12.9% where its own daily promise gave −7.2%, 5.8 points short. Read the multiple against the whole window instead and 2 times MU's 3.2% implies +6.4%, which makes MUU look 19.3 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. MUU 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.

MUZ in plain words

Three months to Sep 30, 2026: MUZ returned −43.2% where its own daily promise gave −40.1%, 3.1 points short. Read the multiple against the whole window instead and −2 times MU's 3.2% implies −6.4%, which makes MUZ look 36.8 points short. 33.7 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. MUZ aims to return -2 times MU's move each day, then resets. 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.

Questions people ask

Which came closer to its stated multiple, MUU or MUZ?: Over the window to Sep 30, 2026, MUU finished 19.3 points from what its multiple implies and MUZ finished 36.8 points from its own, so MUU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are MUU and MUZ levered on the same thing?: Yes. Both are levered on Micron Technology, MUU at +2 times and MUZ at -2 times the daily move.
Which one decays faster, MUU or MUZ?: Decay follows how much the underlying moves about. Over this window MUU’s moved at 76% annualized and MUZ’s at 76%, so MUU has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold MUU or MUZ 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, MUU or MUZ?: MUU charges 1.01% a year and MUZ charges 1.31%, so MUU is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

MUU on its own →MUZ on its own →How every figure is computed →Standards and sources →

Where these figures came from

MUU filings on SEC EDGAR ↗MUU prospectus with the expense ratio (SEC) ↗Direxion website ↗MUZ filings on SEC EDGAR ↗MUZ prospectus with the expense ratio (SEC) ↗Defiance page for MUZ ↗

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, MUU against MUZ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/muu-vs-muz

Open data

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