BRKU vs. SPXS
BRKU (Direxion Daily BRKB Bull 2X Shares) and SPXS (Direxion Daily S&P 500 Bear 3X Shares) are both exchange-traded funds - BRKU is a Leveraged Equities fund actively managed by Direxion, while SPXS is a Inverse Equities fund tracking the S&P 500 Index (-300%). BRKU is actively managed, while SPXS is passively managed. Over the past year, BRKU returned -19.26% vs -48.73% for SPXS. At a correlation of -0.27, they often move in opposite directions. BRKU charges 0.97%/yr vs 1.08%/yr for SPXS.
Performance
BRKU vs. SPXS - Performance Comparison
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Returns By Period
In the year-to-date period, BRKU achieves a -14.77% return, which is significantly higher than SPXS's -25.49% return.
BRKU
- 1D
- 1.64%
- 1M
- 2.08%
- YTD
- -14.77%
- 6M
- -16.17%
- 1Y
- -19.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXS
- 1D
- 2.19%
- 1M
- -13.11%
- YTD
- -25.49%
- 6M
- -24.86%
- 1Y
- -48.73%
- 3Y*
- -42.68%
- 5Y*
- -34.76%
- 10Y*
- -42.01%
BRKU vs. SPXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BRKU Direxion Daily BRKB Bull 2X Shares | -14.77% | 6.44% | -3.96% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | -25.49% | -41.53% | 10.68% |
Correlation
The correlation between BRKU and SPXS is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024 | -0.27 |
The correlation between BRKU and SPXS shifts across timeframes, from -0.27 (all time) to -0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BRKU vs. SPXS — Risk / Return Rank
BRKU
SPXS
BRKU vs. SPXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily BRKB Bull 2X Shares (BRKU) and Direxion Daily S&P 500 Bear 3X Shares (SPXS). 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.
| BRKU | SPXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 0.75 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | -0.96 | +0.09 |
| Martin ratioReturn relative to average drawdown | -1.77 | -1.62 | -0.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BRKU | SPXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.70 | -1.38 | +0.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.69 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.26 | -0.83 | +0.57 |
Drawdowns
BRKU vs. SPXS - Drawdown Comparison
The maximum BRKU drawdown since its inception was -35.37%, smaller than the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for BRKU and SPXS.
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Drawdown Indicators
| BRKU | SPXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.37% | -100.00% | +64.63% |
Max Drawdown (1Y)Largest decline over 1 year | -22.06% | -50.77% | +28.71% |
Max Drawdown (3Y)Largest decline over 3 years | — | -84.13% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.63% | — |
Current DrawdownCurrent decline from peak | -33.11% | -100.00% | +66.89% |
Average DrawdownAverage peak-to-trough decline | -18.87% | -96.30% | +77.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.14% | 30.04% | -18.90% |
Volatility
BRKU vs. SPXS - Volatility Comparison
The current volatility for Direxion Daily BRKB Bull 2X Shares (BRKU) is 7.19%, while Direxion Daily S&P 500 Bear 3X Shares (SPXS) has a volatility of 8.51%. This indicates that BRKU experiences smaller price fluctuations and is considered to be less risky than SPXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRKU | SPXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.19% | 8.51% | -1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 20.67% | 26.82% | -6.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.78% | 35.54% | -7.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.42% | 50.39% | -15.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.42% | 53.54% | -19.12% |
BRKU vs. SPXS - Expense Ratio Comparison
BRKU has a 0.97% expense ratio, which is lower than SPXS's 1.08% expense ratio.
Dividends
BRKU vs. SPXS - Dividend Comparison
BRKU's dividend yield for the trailing twelve months is around 2.99%, less than SPXS's 4.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BRKU Direxion Daily BRKB Bull 2X Shares | 2.99% | 2.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | 4.91% | 4.93% | 6.18% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% |
Frequently Asked Questions
BRKU and SPXS have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPXS has higher volatility (8.51%) compared to BRKU (7.19%). In terms of maximum drawdown, BRKU dropped -35.37% vs SPXS's -100.00%.
On 1-year performance, BRKU leads with -19.26% vs -48.73% for SPXS. On fees, BRKU is cheaper at 0.97% per year. On volatility, BRKU has been the lower-risk option at 7.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BRKU has performed better with a -19.26% return vs -48.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BRKU is cheaper with a 0.97% expense ratio, compared with 1.08% for SPXS.
SPXS has the higher dividend yield at 4.91%, compared with 2.99% for BRKU.
BRKU is categorized as Leveraged Equities, while SPXS is Inverse Equities. Their fees differ too: 0.97% for BRKU and 1.08% for SPXS.
BRKU currently has the higher Sharpe Ratio (-0.70 vs -1.38), 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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