Direxion Daily MU Bear 1X Shares (MUD) Performance
MUD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −98.1% since Dec 31, 2025
- 1 year
- −98.7% total return
- Since first price
- −99.5% since 2024
MUD trailing returns vs SPY, QQQ, AGG
| Period | MUD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +20.5% | +20.5% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.2% | −0.4% | +3.2% | +1.9% | −0.4% |
| 6 months | −62.7% | −63.4% | +7.8% | +8.4% | −1.5% |
| YTD | −98.1% | −98.1% | +12.3% | +15.1% | −1.0% |
| 1 year | −98.7% | −98.8% | +14.4% | +15.9% | −1.1% |
| Since inceptionOct 18, 2024 | −99.5% | −99.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: MUD vs SPY
From Oct 18, 2024: MUD grew to $51, SPY to $13,300.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MUD returns by calendar year
0 of 1 full years positive. Best 2025 (−78.8%), worst 2025 (−78.8%). 2026 is year to date.
MUD annual returns table
| Year | MUD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −98.1% | −98.3% | +12.3% | +15.1% | −1.0% |
| 2025 | −78.8% | −82.1% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
MUD largest drawdowns
Now 99.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Apr 4, 2025 | −99.7% | Oct 1, 2026 | not yet | 1.5 years | 1.6 years so far |
| Dec 31, 2024 | −24.7% | Feb 18, 2025 | Apr 3, 2025 | 49 days | 3 months |
| Nov 1, 2024 | −12.4% | Nov 7, 2024 | Nov 15, 2024 | 6 days | 14 days |
| Nov 15, 2024 | −12.1% | Dec 17, 2024 | Dec 19, 2024 | 32 days | 34 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MUD risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | −94.5% |
| Volatility (annualized) | 83.2% |
| Sharpe ratio | -2.31 |
| Sortino ratio | -2.01 |
| Best month | +26.4% |
| Worst month | −88.3% |
| Best 12 months | −67.1% |
| Worst 12 months | −99.4% |
| Positive months | 26% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
MUD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 13 | −99.4% | −98.6% | −67.1% | 0% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
MUD performance overview
Direxion Daily MU Bear 1X Shares (MUD) returned −98.7% over the past year, with distributions reinvested. Since its first recorded price on Oct 18, 2024 it has returned −99.5%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −99.7%, from Apr 4, 2025 to Oct 1, 2026; the fund has not yet regained that high. Volatility has been 83.2% a year.
Related: MUD chart, MUD dividends. See the MUD overview for the latest quote and fund facts.
MUD performance FAQ
What is the MUD return over the past year?
MUD returned −98.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 98.8%.
How much would $10,000 invested in MUD be worth?
$10,000 invested in MUD at its first recorded close on October 18, 2024 would be worth about $51 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of MUD?
The largest peak-to-trough decline was −99.7% between April 4, 2025 and October 1, 2026. It has not yet recovered to that high; it is 99.6% below its peak.
How volatile is MUD?
Over the past history MUD had an annualized volatility of 83.2% and a Sharpe ratio of -2.31 (excess return over 1–3 month T-bills per unit of risk).