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MUU

GradeBNASDAQ Global Market

Direxion Daily MU Bull 2X ETF

Leveraged · Single-Stock Leveraged · Direxion · Inception 2024-10-10

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$37.26−1.66 (−4.27%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Oct 10, 2024.
Intraday session: down, 59 prints from 38.92 to 37.26. Range 36.73 to 39.15. Use the arrow keys to read each point.$38.00$39.0010 AM12 PM2 PM4 PM
Expense ratio
1.01%
Fund size
$3.7B
1Y return
+1929.3%
Yield · Last 12 months
0.87%
Volume · 30D
49.2M sh
NAV per share
$31.33
52W range
low $1.77high $62.64

The ETF.net MUU Grade

B

60/ 100

Rank 38 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for MUU. Scores out of 100: Cost 45, Risk 71, Mission 91, Tradability 72, Holdings not scored, Durability 86. Strongest: Mission (91). Weakest: Cost (45). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 60 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 45
    Category rank210/380 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 91
    Category rank79/147 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 71
    Category rank57/285 · top 20%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 72
    Category rank74/380 · top 19%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 86
    Category rank4/380 · top 1%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on MUU

ETF.net Research

BTwo ETFs offer 2x daily Micron. MUU is the cheaper one, and the one that actually trades. The mandate is 200% of Micron's daily share move before fees, with the leverage clock reset every morning.

Stated mandate

The fund seeks daily investment results, before fees and expenses, equal to 200% of the performance of Micron Technology, Inc.’s common shares.

Why people hold it

  1. 01Same 2x daily Micron exposure as its only twin, MULL, at roughly a third of the cost: 1.01% versus 3.06%.
  2. 02The mandate fits on one line: 200% of Micron's daily share performance, before fees. One stock, one multiple, no manager discretion.direxion.com
  3. 03A multibillion-dollar fund and one of the busier tickers in the single-stock leverage aisle, which matters for a product built to be traded.
  4. 04Day to day it has tracked its 2x target tightly, one of the stronger implementations in a crowded leveraged cohort.

Worth knowing

  1. 01The 2x resets every morning. Hold longer and the result comes from compounded daily moves, which can drift well away from twice Micron's move over the stretch.
  2. 02One company's stock, doubled. There is nothing else in the basket to cushion a bad session.
  3. 03The 1.01% fee sits right at the median for leveraged single-stock funds: far under MULL, above the 0.75% charged by peers like UNHG and ASMG.

MUU Holdings

As of Sep 22, 2026, 10:02 PM
Asset class
Stocks
Holdings
—
Top-10 weight
88%
Largest holding
MU SWAP ASSET LEG (MUBCL)17.5%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—MU SWAP ASSET LEG (MUBCL)17.54%1,946,654$2.0B1
002—MU SWAP ASSET LEG (MUGSL)14.26%1,581,775$1.7B1
003—DREYFUS GOVT CASH MAN INS12.69%1,469,500,703$1.5B108
004—MU SWAP ASSET LEG (MUNML)7.72%856,552$894M1
005—MU SWAP ASSET LEG (MUJPL)7.58%840,717$878M1
006—MU SWAP ASSET LEG (MUBPL)7.57%840,037$877M1
007—DREYFUS TRSRY SECURITIES CASH MGMT5.86%679,169,063$679M82
008—MU SWAP ASSET LEG (MUMLL)5.65%626,699$654M1
009—GOLDMAN SACHS FIN GOV 465 INSTITUT5.12%593,230,000$593M75
010—MU SWAP ASSET LEG (MUHSL)4.28%475,000$496M1
011—MU SWAP ASSET LEG (MUCTL)4.20%466,027$487M1
012MUMICRON TECHNOLOGY INC4.15%459,995$480M655
013—GOLDMAN FINL SQ TRSRY INST 5063.39%392,588,039$393M100

Showing 1–13 of 13 holdings

MUU Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

MUU$202,929
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. MUU $202,929. SPY $11,723. Use the arrow keys to read each point.$-15,829$164,714$345,258Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for MUU. Periods over one year show the average yearly return.
PeriodMUU
Year to date+677.1%
1 month+23.3%
3 months−36.7%
1 year+1929.3%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MUU
YearReturn barMUU
2026 YTD+677.1%
2025+596.9%
2024−43.1%

Since listing, Oct 10, 2024

MUU in the news

ETF.net Research hasn’t filed on MUU yet — coverage lands here as it’s written.

MUU Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
0.87%Last 12 months
Payout per share
$0.34Last 12 months
Last payment
$0.10 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2024–2026

One bar per payment. 8 payments from 2024 to 2026 YTD. Dec 23, 2024 $0.0024; Mar 25, 2025 $0.0062; Jun 24, 2025 $0.0052; Sep 23, 2025 $0.0032; Dec 10, 2025 $0.18; Dec 23, 2025 $0.02; Mar 24, 2026 $0.03; Jun 23, 2026 $0.10. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Jun 23, 2026Jun 30, 2026$0.10
Mar 24, 2026Mar 31, 2026$0.03
Dec 23, 2025Dec 31, 2025$0.02
Dec 10, 2025Dec 17, 2025$0.18
Sep 23, 2025Sep 30, 2025$0.0032
Jun 24, 2025Jul 1, 2025$0.0052
Mar 25, 2025Apr 1, 2025$0.0062
Dec 23, 2024Dec 31, 2024$0.0024

MUU Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
221.9%
Annualised · 22 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.57
vs 3-month T-bills · 22 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−75.0%
23 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
8.56
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

MUU Cost

Expense ratio1.01%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

204 of the 329 Single-Stock Long Leveraged funds charge less.

MUU costs $101.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.