MUU +2x Direxion Shares ETF Trust Direxion Daily MU Bull 2X ETF

MUU

ETF +2x BULL standard
Direxion Shares ETF Trust Direxion Daily MU Bull 2X ETF
Issuer: Direxion · Tracks: MU · Listed: 2024-10-09
Implied AUM
$4.58B
Last Close
$28.31
20260720
30d Avg Vol
62,695,162
Options
—
Realized return vs theoretical +2x MU
Other leveraged products tracking MU
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
MULL +2x BULL GraniteShares GraniteShares 2x Long MU Daily ETF $630.6M 10,731,458

How MUU works

MUU targets +2x the daily return of MU — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.

Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a +2x product on an underlying with 25% annualized vol, expected annual drag is around 6.2%. Add expense ratio and the realized number is typically worse.

  • Short-term tactical: daily and intraday holds are where these products were designed to live.
  • Premium selling: options on MUU carry very rich IV — see the quote page for IV rank and straddle pricing.
  • Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.