MUU vs SPY
Direxion Daily MU Bull 2X ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MUU delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | MUU | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.01% | 0.09% | |
| AUM | $4.2B | $821.1B | |
| Dividend Yield | 1.43% | 1.01% | |
| Holdings | 12 | 505 | |
| YTD Return | +435.09% | +14.24% | |
| 1Y Return | +2717.01% | +21.71% | |
| 3Y Return (annualized) | - | +22.10% | |
| 5Y Return (annualized) | - | +13.21% | |
| Volatility (annualized) | 222.1% | 15.3% | |
| Max Drawdown | -75.1% | -56.5% | |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Oct 10, 2024 | Jan 22, 1993 |
MUU vs SPY Performance
Direxion Daily MU Bull 2X ETF (MUU) is a ETF from Direxion Shares ETF Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MUU returned +2717.01% while SPY returned +21.71%. Year to date, MUU is up 435.09% versus a gain of 14.24% for SPY.
Risk: Volatility and Drawdowns
MUU has been the more volatile fund, with annualized monthly volatility of 222.1% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -75.1% for MUU and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MUU charges 1.01% per year while SPY charges 0.09%. On a $10,000 position that is $101 vs $9 annually, a gap of $92 per year that compounds over a long holding period. On income, MUU currently yields 1.43% against 1.01% for SPY.
Holdings Overlap
MUU and SPY share 1 holdings out of 508 unique holdings combined, representing a 1.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in MUU | Weight in SPY | Difference |
|---|---|---|---|
| MU | 16.84% | 1.51% | 15.33% |
Frequently Asked Questions
Which is cheaper, MUU or SPY?
MUU has an expense ratio of 1.01% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $92 per year of difference.
Which performed better, MUU or SPY?
Over the past year MUU returned +2717.01% vs +21.71% for SPY, so MUU leads on 1-year performance. Over the longest common window we track (2 years), MUU annualized +482.67% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, MUU or SPY?
MUU has been the more volatile fund at 222.1% annualized versus 15.3% for SPY. Worst drawdown: MUU -75.1% vs SPY -56.5%.
Should I hold both MUU and SPY?
MUU and SPY have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MUU and SPY?
MUU and SPY share 1 common holdings with a 1.5% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, MUU or SPY?
MUU yields 1.43% while SPY yields 1.01%, so MUU currently pays the higher dividend yield.
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