3x SPXL + SPXS

The chart shows the growth of an initial investment of $10,000 in 3x SPXL + SPXS, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced Every 3 months.

As of Apr 7, 2026, the 3x SPXL + SPXS returned 0.39% Year-To-Date and 0.38% of annualized return in the last 10 years.

Based on dividend-adjusted daily data since Apr 17, 2009, 3x SPXL + SPXS's average daily return is 0.00%, while the average monthly return is -0.07%.

Historically, 40% of months were positive and 60% were negative. The best month was Dec 2014 with a return of +7.3%, while the worst month was Nov 2014 at -7.6%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 10 months.

On a daily basis, 3x SPXL + SPXS closed higher 48% of trading days. The best single day was Dec 1, 2014 with a return of +8.1%, while the worst single day was Nov 26, 2014 at -7.2%.

3x SPXL + SPXS has an annualized alpha of -0.34%, beta of -0.03, and R² of 0.01 versus S&P 500 Index. Calculated based on daily prices since April 17, 2009.

• This portfolio tended to rise when S&P 500 Index fell (downside capture of -8.39%), but participation in market rallies was also limited (-5.68%) — a profile typical of counter-cyclical assets.
• Beta of -0.03 may look defensive, but with R² of 0.01 this portfolio is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this portfolio's risk.
• R² of 0.01 means this portfolio moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

3x SPXL + SPXS has a high expense ratio of 1.09%, indicating above-average management fees. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.

3x SPXL + SPXS ranks 39 for risk / return — below 39% of portfolios on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

3x SPXL + SPXS Sharpe ratios as of Apr 7, 2026 (values are recalculated daily):

• 1-Year: 0.87
• 5-Year: 0.35
• 10-Year: 0.07
• All Time: -0.15

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

Compared to the broad market, where average Sharpe ratios range from 1.63 to 2.54, this portfolio's current Sharpe ratio places it in the bottom 25%. This suggests weaker risk-adjusted returns than most portfolios, possibly due to lower returns, higher volatility, or both. It may be worth reviewing the allocation. You can use the Portfolio Optimization tool to explore options for improving the Sharpe ratio.

The chart below shows the rolling Sharpe ratio of 3x SPXL + SPXS compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

3x SPXL + SPXS provided a 3.03% dividend yield over the last twelve months.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the 3x SPXL + SPXS. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the 3x SPXL + SPXS was 23.11%, occurring on May 18, 2023. The portfolio has not yet recovered.

The current 3x SPXL + SPXS drawdown is 15.76%.

The chart below shows the rolling one-month volatility.