^DJI vs. SPXL
^DJI (Dow Jones Industrial Average) is an index, while SPXL (Direxion Daily S&P 500 Bull 3X ETF) is Leveraged Equities fund tracking the S&P 500. Over the past 10 years, ^DJI returned 10.98%/yr vs 28.76%/yr for SPXL. Their correlation of 0.92 suggests significant overlap in exposure.
Performance
^DJI vs. SPXL - Performance Comparison
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Returns By Period
In the year-to-date period, ^DJI achieves a 9.23% return, which is significantly lower than SPXL's 24.15% return. Over the past 10 years, ^DJI has underperformed SPXL with an annualized return of 10.98%, while SPXL has yielded a comparatively higher 28.76% annualized return.
^DJI
- 1D
- -0.26%
- 1M
- 2.53%
- 6M
- 5.86%
- YTD
- 9.23%
- 1Y
- 18.32%
- 3Y*
- 15.01%
- 5Y*
- 8.49%
- 10Y*
- 10.98%
SPXL
- 1D
- -2.31%
- 1M
- 2.62%
- 6M
- 17.57%
- YTD
- 24.15%
- 1Y
- 54.60%
- 3Y*
- 44.34%
- 5Y*
- 20.30%
- 10Y*
- 28.76%
^DJI vs. SPXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^DJI Dow Jones Industrial Average | 9.23% | 12.97% | 12.88% | 13.70% | -8.78% | 18.73% | 7.25% | 22.34% | -5.63% | 25.08% |
SPXL Direxion Daily S&P 500 Bull 3X ETF | 24.15% | 31.94% | 63.61% | 69.49% | -56.55% | 98.75% | 9.64% | 102.80% | -25.11% | 71.03% |
Correlation
The correlation between ^DJI and SPXL is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2008 | 0.92 |
The correlation between ^DJI and SPXL shifts across timeframes, from 0.80 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
^DJI vs. SPXL — Risk / Return Rank
^DJI
SPXL
^DJI vs. SPXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dow Jones Industrial Average (^DJI) and Direxion Daily S&P 500 Bull 3X ETF (SPXL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| ^DJI | SPXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 2.05 | -0.21 |
| Martin ratioReturn relative to average drawdown | 6.99 | 8.10 | -1.12 |
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Drawdowns
^DJI vs. SPXL - Drawdown Comparison
The maximum ^DJI drawdown since its inception was -53.78%, smaller than the maximum SPXL drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for ^DJI and SPXL.
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Drawdown Indicators
| ^DJI | SPXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.78% | -76.86% | +23.08% |
Max Drawdown (1Y)Largest decline over 1 year | -10.01% | -26.77% | +16.76% |
Max Drawdown (3Y)Largest decline over 3 years | -16.37% | -48.95% | +32.58% |
Max Drawdown (5Y)Largest decline over 5 years | -21.94% | -63.80% | +41.86% |
Max Drawdown (10Y)Largest decline over 10 years | -37.09% | -76.86% | +39.77% |
Current DrawdownCurrent decline from peak | -1.05% | -5.13% | +4.08% |
Average DrawdownAverage peak-to-trough decline | -8.01% | -16.07% | +8.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 6.76% | -4.13% |
Volatility
^DJI vs. SPXL - Volatility Comparison
The current volatility for Dow Jones Industrial Average (^DJI) is 2.97%, while Direxion Daily S&P 500 Bull 3X ETF (SPXL) has a volatility of 12.75%. This indicates that ^DJI experiences smaller price fluctuations and is considered to be less risky than SPXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^DJI | SPXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.97% | 12.75% | -9.78% |
Volatility (6M)Calculated over the trailing 6-month period | 9.74% | 30.07% | -20.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.35% | 37.72% | -25.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.86% | 50.60% | -35.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.59% | 53.40% | -35.81% |
Frequently Asked Questions
^DJI and SPXL have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPXL has higher volatility (12.75%) compared to ^DJI (2.97%). In terms of maximum drawdown, ^DJI dropped -53.78% vs SPXL's -76.86%.
^DJI currently has the higher Sharpe Ratio (1.49 vs 1.46), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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