ETF Evaluator:
Direxion Daily Ether Bull 2X ETF (EVMU)
Follow This ETF
(as of Sep 02)
Best Performing in Trading--Leveraged Equity Over the Last Year
| 2567.1% | Direxion Daily MU Bull 2X Shares (MUU) |
| 2419.7% | GraniteShares 2x Long MU Daily ETF (MULL) |
| 933.4% | GraniteShares 2x Long INTC Daily ETF (INTW) |
| 476.7% | GraniteShares 2x Long DELL Daily ETF (DLLL) |
| 358.1% | Direxion Daily Semicondct Bull 3X ETF (SOXL) |
Risk
Index
Risk
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ETF Details
Direxion Daily Ether Bull 2X ETF Overview
Direxion Daily Ether Bull 2X ETF (EVMU) is an actively managed Miscellaneous Trading--Leveraged Equity exchange-traded fund (ETF). Direxion Funds launched the ETF in 2026.
The investment seeks daily leveraged investment results and is very different from other exchange-traded funds.
The fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in the economic equivalents of ether by investing in one or more Reference ETPs that invest directly in ether and financial instruments that provide 200% daily exposure to 1Direxion Shares ETF Trust Prospectus the Reference ETPs. It is non-diversified.
About Direxion Daily Ether Bull 2X ETF (EVMU)
There are 2 members of the management team with an average tenure of 0.18 years: Tony Ng (2026) and Paul Brigandi (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
Direxion Daily Ether Bull 2X ETF has 9 securities in its portfolio. The top 10 holdings constitute 112.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Direxion Daily Ether Bull 2X ETF is part of the Other global asset class and is within the Miscellaneous ETF group. Direxion Daily Ether Bull 2X ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 7.1% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Direxion Daily Ether Bull 2X ETF has 92.9% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below the $251 million average for the Trading--Leveraged Equity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
EVMU Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Direxion Daily Ether Bull 2X ETF expense ratio is high compared to funds in the Trading--Leveraged Equity category. Direxion Daily Ether Bull 2X ETF has an expense ratio of 1.03%, which is 8% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Direxion Daily Ether Bull 2X ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 396% for the Trading--Leveraged Equity category.
Recently, in the month of July 2026, Direxion Daily Ether Bull 2X ETF returned 35.7%, which earned it a grade of A, as the Trading--Leveraged Equity category had an average return of -18.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Direxion Daily Ether Bull 2X ETF has a trailing yield of 0.00%, which is below the 5.84% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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EVMU Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| EVMU Return (NAV) | 35.7% | na | na | na | na | na |
| EVMU Return (Price) | 35.7% | na | na | na | na | na |
| NAV +/- Price Return | 0.027% | na | na | na | na | na |
| Trading--Leveraged Equity Avg | -18.2% | -10.8% | 47.2% | 18.3% | 6.2% | 9.2% |
| EVMU Grade (NAV) | A | na | na | na | na | na |
| +/- Category (NAV) | 53.9% | na | na | na | na | na |
| EVMU Tax-Cost Ratio | na | na | na | na | na | na |
EVMU Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EVMU Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| EVMU Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Trading--Leveraged Equity Avg | 3.8% | 41.3% | 29.5% | 62.2% | -36.7% | 45.0% | 6.2% | 64.1% | -31.9% | 61.0% | 29.3% |
| EVMU Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 2 Mil |
| Share Class Assets: | $ 2 Mil |
| Turnover: | na |
| Expense Ratio: | 1.03% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | Yes |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.2 years | |||
| Average Tenure: 0.2 years | |||
| Managers (Year): Ng Tony (2026), Brigandi Paul (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 9 |
| % in Top 10 Holdings: | 112.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 7.1% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 92.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Direxion Funds |
| Phone Number: | 866-476-7523 |
| Website: | http://www.direxioninvestments.com/ |
| Inception Date: | May 26, 2026 |
Expenses and Fees
| Expense Ratio (%): | 1.03% (Rating: High) |
| Category Average Expense Ratio (%): | 0.95% |
