BOEU vs. BUCK

Last updated Aug 2, 2026

BOEU (Direxion Daily BA Bull 2X Shares) and BUCK (Simplify Treasury Option Income ETF) are both exchange-traded funds - BOEU is a Leveraged Equities fund actively managed by Direxion, while BUCK is a Government Bonds fund actively managed by Simplify. Both are actively managed. Over the past year, BOEU returned -22.85% vs 5.36% for BUCK. Their -0.08 correlation means they have often moved in opposite directions in the past. BOEU charges 0.97%/yr vs 0.35%/yr for BUCK.

Performance

BOEU vs. BUCK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily BA Bull 2X Shares (BOEU) and Simplify Treasury Option Income ETF (BUCK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOEU achieves a -12.30% return, which is significantly lower than BUCK's 2.42% return.

BOEU

• 1D: -4.26%
• 1M: -9.86%
• 6M: -23.44%
• YTD: -12.30%
• 1Y: -22.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.03%

BUCK

• 1D: -0.04%
• 1M: 0.17%
• 6M: 1.84%
• YTD: 2.42%
• 1Y: 5.36%
• 3Y*: 5.15%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.06%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BOEU Direxion Daily BA Bull 2X Shares	$941.70K	$847.44K	$1.51M
BUCK Simplify Treasury Option Income ETF	$3.71M	$3.63M	$3.94M

BOEU vs. BUCK - Yearly Performance Comparison

	2026 (YTD)	2025
BOEU Direxion Daily BA Bull 2X Shares	-12.30%	37.74%
BUCK Simplify Treasury Option Income ETF	2.42%	6.69%

Correlation

The correlation between BOEU and BUCK is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.02
Correlation (All Time) Calculated using the full available price history since Apr 23, 2025	-0.08

Return for Risk

BOEU vs. BUCK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BOEU

BOEU Risk / Return Rank: 7
BOEU Sharpe Ratio Rank: 6
BOEU Sortino Ratio Rank: 8
BOEU Omega Ratio Rank: 8
BOEU Calmar Ratio Rank: 5
BOEU Martin Ratio Rank: 5

BUCK

BUCK Risk / Return Rank: 95
BUCK Sharpe Ratio Rank: 92
BUCK Sortino Ratio Rank: 93
BUCK Omega Ratio Rank: 94
BUCK Calmar Ratio Rank: 97
BUCK Martin Ratio Rank: 97

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BOEU vs. BUCK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily BA Bull 2X Shares (BOEU) and Simplify Treasury Option Income ETF (BUCK). 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.

	BOEU	BUCK	Difference
Sharpe ratio: Return per unit of total volatility	-0.35	2.41	-2.76
Sortino ratio: Return per unit of downside risk	-0.11	3.58	-3.69
Omega ratio: Gain probability vs. loss probability	0.99	1.52	-0.53
Calmar ratio: Return relative to maximum drawdown	-0.50	7.39	-7.89
Martin ratio: Return relative to average drawdown	-0.91	34.83	-35.73

BOEU vs. BUCK - Sharpe Ratio Comparison

The current BOEU Sharpe Ratio is -0.35, which is lower than the BUCK Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of BOEU and BUCK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BOEU vs. BUCK - Drawdown Comparison

The maximum BOEU drawdown since its inception was -46.03%, which is greater than BUCK's maximum drawdown of -5.43%. Use the drawdown chart below to compare losses from any high point for BOEU and BUCK.

Drawdown Indicators

	BOEU	BUCK	Difference
Max Drawdown Largest peak-to-trough decline	-46.03%	-5.43%	-40.60%
Max Drawdown (1Y) Largest decline over 1 year	-45.67%	-0.84%	-44.83%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.43%	—
Current Drawdown Current decline from peak	-34.11%	-0.11%	-34.00%
Average Drawdown Average peak-to-trough decline	-18.81%	-0.47%	-18.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.10%	0.18%	+24.92%

Volatility

BOEU vs. BUCK - Volatility Comparison

Direxion Daily BA Bull 2X Shares (BOEU) has a higher volatility of 21.81% compared to Simplify Treasury Option Income ETF (BUCK) at 0.39%. This indicates that BOEU's price experiences larger fluctuations and is considered to be riskier than BUCK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOEU	BUCK	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.81%	0.39%	+21.42%
Volatility (6M) Calculated over the trailing 6-month period	49.19%	1.24%	+47.95%
Volatility (1Y) Calculated over the trailing 1-year period	65.30%	2.59%	+62.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.07%	3.42%	+59.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.07%	3.42%	+59.65%

BOEU vs. BUCK - Expense Ratio Comparison

BOEU has a 0.97% expense ratio, which is higher than BUCK's 0.35% expense ratio.

Dividends

BOEU vs. BUCK - Dividend Comparison

BOEU's dividend yield for the trailing twelve months is around 2.30%, less than BUCK's 7.20% yield.

Position	TTM	2025	2024	2023	2022
BOEU Direxion Daily BA Bull 2X Shares	2.30%	1.44%	0.00%	0.00%	0.00%
BUCK Simplify Treasury Option Income ETF	7.20%	7.59%	8.84%	4.84%	0.59%

Frequently Asked Questions

Can I hold both BOEU and BUCK in my portfolio?

BOEU and BUCK have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOEU or BUCK?

BOEU has higher volatility (21.81%) compared to BUCK (0.39%). In terms of maximum drawdown, BOEU dropped -46.03% vs BUCK's -5.43%.

Which ETF is better, BOEU or BUCK?

On 1-year performance, BUCK leads with 5.36% vs -22.85% for BOEU. On fees, BUCK is cheaper at 0.35% per year. On volatility, BUCK has been the lower-risk option at 0.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BOEU or BUCK?

Over the 1-year period, BUCK has performed better with a 5.36% return vs -22.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BOEU or BUCK?

BUCK is cheaper with a 0.35% expense ratio, compared with 0.97% for BOEU.

Which ETF pays a higher dividend yield, BOEU or BUCK?

BUCK has the higher dividend yield at 7.20%, compared with 2.30% for BOEU.

What is the main difference between BOEU and BUCK?

BOEU is categorized as Leveraged Equities, while BUCK is Government Bonds. They also come from different issuers: Direxion and Simplify. Their fees differ too: 0.97% for BOEU and 0.35% for BUCK.

Which has better risk-adjusted returns?

BUCK currently has the higher Sharpe Ratio (2.41 vs -0.35), 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.