BIRK vs. SPXL
BIRK (Birkenstock Holding plc) is a stock, while SPXL (Direxion Daily S&P 500 Bull 3X ETF) is Leveraged Equities fund tracking the S&P 500. Over the past year, BIRK returned -18.78% vs 62.56% for SPXL. At a 0.41 correlation, their price movements are largely independent.
Performance
BIRK vs. SPXL - Performance Comparison
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Returns By Period
In the year-to-date period, BIRK achieves a 3.55% return, which is significantly lower than SPXL's 17.21% return.
BIRK
- 1D
- -2.19%
- 1M
- 2.34%
- YTD
- 3.55%
- 6M
- -0.80%
- 1Y
- -18.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXL
- 1D
- -4.48%
- 1M
- -5.53%
- YTD
- 17.21%
- 6M
- 13.86%
- 1Y
- 62.56%
- 3Y*
- 46.39%
- 5Y*
- 20.70%
- 10Y*
- 30.27%
BIRK vs. SPXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BIRK Birkenstock Holding plc | 3.55% | -27.82% | 16.27% | 18.85% |
SPXL Direxion Daily S&P 500 Bull 3X ETF | 17.21% | 31.94% | 63.61% | 27.53% |
Correlation
The correlation between BIRK and SPXL is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2023 | 0.41 |
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Return for Risk
BIRK vs. SPXL — Risk / Return Rank
BIRK
SPXL
BIRK vs. SPXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Birkenstock Holding plc (BIRK) 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.
| BIRK | SPXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.08 | ||
| Sortino ratioReturn per unit of downside risk | -2.45 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.28 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.45 | 2.35 | -2.80 |
| Martin ratioReturn relative to average drawdown | -0.87 | 9.57 | -10.44 |
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Drawdowns
BIRK vs. SPXL - Drawdown Comparison
The maximum BIRK drawdown since its inception was -50.94%, smaller than the maximum SPXL drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for BIRK and SPXL.
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Drawdown Indicators
| BIRK | SPXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.94% | -76.86% | +25.92% |
Max Drawdown (1Y)Largest decline over 1 year | -41.59% | -26.77% | -14.82% |
Max Drawdown (3Y)Largest decline over 3 years | — | -48.95% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -63.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -76.86% | — |
Current DrawdownCurrent decline from peak | -33.38% | -10.44% | -22.94% |
Average DrawdownAverage peak-to-trough decline | -20.07% | -16.09% | -3.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.65% | 6.56% | +15.09% |
Volatility
BIRK vs. SPXL - Volatility Comparison
Birkenstock Holding plc (BIRK) has a higher volatility of 15.86% compared to Direxion Daily S&P 500 Bull 3X ETF (SPXL) at 14.70%. This indicates that BIRK's price experiences larger fluctuations and is considered to be riskier 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
| BIRK | SPXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.86% | 14.70% | +1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 40.98% | 29.55% | +11.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.94% | 37.43% | +10.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.62% | 50.54% | -6.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.62% | 53.47% | -9.85% |
Dividends
BIRK vs. SPXL - Dividend Comparison
BIRK has not paid dividends to shareholders, while SPXL's dividend yield for the trailing twelve months is around 0.57%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BIRK Birkenstock Holding plc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPXL Direxion Daily S&P 500 Bull 3X ETF | 0.57% | 0.69% | 0.74% | 0.98% | 0.32% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% |
Frequently Asked Questions
BIRK and SPXL have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIRK has higher volatility (15.86%) compared to SPXL (14.70%). In terms of maximum drawdown, BIRK dropped -50.94% vs SPXL's -76.86%.
SPXL currently has the higher Sharpe Ratio (1.69 vs -0.39), 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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