- ISIN
- US25459W8626
- CUSIP
- 25459W862
- Issuer
- Direxion
- Inception Date
- Nov 5, 2008
- Region
- North America (U.S.)
- Category
- Leveraged Equities, S&P 500
- Leveraged
- 3x
- Index Tracked
- S&P 500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $7B
Share Price Chart
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Performance
SPXL Performance Chart
Direxion Daily S&P 500 Bull 3X ETF (SPXL) is up 23.9% since the beginning of the year. SPXL is currently trading at $273 per share. Investors who bought $1,000 worth of SPXL shares 5 years ago would now be looking at an investment worth $2,908.
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Returns By Period
Direxion Daily S&P 500 Bull 3X ETF (SPXL) has returned 23.87% so far this year and 77.22% over the past 12 months. Looking at the last ten years, SPXL has achieved an annualized return of 30.05%, outperforming the S&P 500 Index benchmark, which averaged 13.54% per year.
Direxion Daily S&P 500 Bull 3X ETF
- 1D
- 2.89%
- 1M
- -0.17%
- YTD
- 23.87%
- 6M
- 24.20%
- 1Y
- 77.22%
- 3Y*
- 46.89%
- 5Y*
- 23.80%
- 10Y*
- 30.05%
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.71%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
SPXL Monthly Returns History
Based on dividend-adjusted daily data since Nov 5, 2008, SPXL's average daily return is +0.16%, while the average monthly return is +3.00%. At this rate, an investment would double in approximately 2.0 years.
Historically, 63% of months were positive and 37% were negative. The best month was Apr 2020 with a return of +37.2%, while the worst month was Mar 2020 at -48.2%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.
On a daily basis, SPXL closed higher 55% of trading days. The best single day was Mar 24, 2020 with a return of +27.8%, while the worst single day was Mar 16, 2020 at -33.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.34% | -3.61% | -15.66% | 33.25% | 15.54% | -4.23% | 23.87% | ||||||
| 2025 | 6.69% | -5.06% | -17.57% | -8.76% | 18.23% | 15.00% | 5.92% | 5.01% | 9.93% | 5.82% | -0.67% | -0.88% | 31.94% |
| 2024 | 3.43% | 14.75% | 8.93% | -12.99% | 14.30% | 9.83% | 1.81% | 5.02% | 5.10% | -4.04% | 17.39% | -8.49% | 63.61% |
| 2023 | 18.26% | -8.60% | 9.45% | 3.68% | -0.05% | 19.01% | 9.01% | -6.30% | -14.73% | -7.88% | 28.25% | 12.90% | 69.49% |
| 2022 | -15.80% | -9.91% | 10.13% | -25.43% | -2.12% | -24.91% | 28.78% | -13.32% | -26.82% | 23.18% | 14.53% | -17.67% | -56.55% |
| 2021 | -3.76% | 7.88% | 13.25% | 16.21% | 1.35% | 6.57% | 6.85% | 8.96% | -13.78% | 21.73% | -2.66% | 13.23% | 98.75% |
Benchmark Metrics
Direxion Daily S&P 500 Bull 3X ETF has an annualized alpha of 1.42%, beta of 2.92, and R2 of 0.99 versus S&P 500 Index. Calculated based on daily prices since November 05, 2008.
- This ETF captured 439.35% of S&P 500 Index gains and 214.70% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- Beta of 2.92 means this ETF moves significantly more than S&P 500 Index - expect amplified gains in rallies and amplified losses in downturns.
- Alpha
- 1.42%
- Beta
- 2.92
- R²
- 0.99
- Upside Capture
- 439.35%
- Downside Capture
- 214.70%
Expense Ratio
SPXL has an expense ratio of 0.84%, placing it in the medium range.
Return for Risk
Risk / Return Rank
SPXL ranks 59 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Direxion Daily S&P 500 Bull 3X ETF (SPXL) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SPXL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.35 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.83 | 2.66 | +0.18 |
| Martin ratioReturn relative to average drawdown | 11.63 | 11.86 | -0.24 |
Dividends
Dividend History
Direxion Daily S&P 500 Bull 3X ETF provided a 0.54% dividend yield over the last twelve months, with an annual payout of $1.48 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.48 | $1.52 | $1.24 | $1.02 | $0.20 | $0.16 | $0.16 | $0.56 | $0.34 | $1.72 |
Dividend yield | 0.54% | 0.69% | 0.74% | 0.98% | 0.32% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% |
Monthly Dividends
The table displays the monthly dividend distributions for Direxion Daily S&P 500 Bull 3X ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.45 | $0.00 | $0.00 | $0.00 | $0.45 | ||||||
| 2025 | $0.00 | $0.00 | $0.49 | $0.00 | $0.00 | $0.57 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.17 | $1.52 |
| 2024 | $0.00 | $0.00 | $0.39 | $0.00 | $0.00 | $0.34 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.32 | $1.24 |
| 2023 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.30 | $1.02 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.12 | $0.20 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.11 | $0.16 |
Drawdowns
Drawdowns Chart
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Direxion Daily S&P 500 Bull 3X ETF. 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 Direxion Daily S&P 500 Bull 3X ETF was 76.86%, occurring on Mar 23, 2020. Recovery took 202 trading sessions.
The current Direxion Daily S&P 500 Bull 3X ETF drawdown is 5.35%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -76.86%Mar 2020 | 1mo 2d | 9mo 21d | 10mo 23dFeb 2020 - Jan 2021 |
Financial crisis2007–2009 | -74.67%Mar 2009 | 4mo 4d | 8mo 12d | 1y 11dNov 2008 - Nov 2009 |
Bear market2022 | -63.80%Oct 2022 | 9mo 11d | 1y 8mo | 2y 5moJan 2022 - Jun 2024 |
2011 bear market2011 | -53.81%Oct 2011 | 5mo 4d | 11mo 16d | 1y 4moMay 2011 - Sep 2012 |
Rate-hike selloffLate 2018 | -50.17%Dec 2018 | 3mo 4d | 6mo 20d | 9mo 24dSep 2018 - Jul 2019 |
Drawdown Indicators
| SPXL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.86% | -56.78% | -20.08% |
Max Drawdown (1Y)Largest decline over 1 year | -26.77% | -9.10% | -17.67% |
Max Drawdown (3Y)Largest decline over 3 years | -48.95% | -18.90% | -30.05% |
Max Drawdown (5Y)Largest decline over 5 years | -63.80% | -25.43% | -38.37% |
Max Drawdown (10Y)Largest decline over 10 years | -76.86% | -33.92% | -42.94% |
Current DrawdownCurrent decline from peak | -5.35% | -2.49% | -2.86% |
Average DrawdownAverage peak-to-trough decline | -16.10% | -10.72% | -5.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.51% | 2.03% | +4.48% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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