CLDL vs. SPXL

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Daily Cloud Computing Bull 2X Shares (CLDL) and Direxion Daily S&P 500 Bull 3X Shares (SPXL).

CLDL and SPXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CLDL is an actively managed fund by Direxion. It was launched on Jan 8, 2021. SPXL is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index (300%). It was launched on Nov 5, 2008.

Performance

CLDL vs. SPXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Cloud Computing Bull 2X Shares (CLDL) and Direxion Daily S&P 500 Bull 3X Shares (SPXL). The values are adjusted to include any dividend payments, if applicable.

CLDL vs. SPXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CLDL Direxion Daily Cloud Computing Bull 2X Shares	0.00%	3.74%	25.41%	84.75%	-72.32%	-15.05%
SPXL Direxion Daily S&P 500 Bull 3X Shares	-15.99%	31.94%	63.61%	69.49%	-56.55%	88.01%

Returns By Period

CLDL

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPXL

• 1D: 8.63%
• 1M: -15.66%
• YTD: -15.99%
• 6M: -12.47%
• 1Y: 32.76%
• 3Y*: 37.47%
• 5Y*: 16.98%
• 10Y*: 25.32%

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

CLDL vs. SPXL - Expense Ratio Comparison

CLDL has a 0.95% expense ratio, which is lower than SPXL's 1.02% expense ratio.

SPXL

Direxion Daily S&P 500 Bull 3X Shares

CLDL

Direxion Daily Cloud Computing Bull 2X Shares

Return for Risk

CLDL vs. SPXL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPXL

SPXL Risk / Return Rank: 45
SPXL Sharpe Ratio Rank: 35
SPXL Sortino Ratio Rank: 46
SPXL Omega Ratio Rank: 50
SPXL Calmar Ratio Rank: 46
SPXL Martin Ratio Rank: 48

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CLDL vs. SPXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Cloud Computing Bull 2X Shares (CLDL) and Direxion Daily S&P 500 Bull 3X Shares (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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CLDL	SPXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.61	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.34	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.47	—

Correlation

The correlation between CLDL and SPXL is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CLDL vs. SPXL - Dividend Comparison

CLDL's dividend yield for the trailing twelve months is around 0.21%, less than SPXL's 0.80% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CLDL Direxion Daily Cloud Computing Bull 2X Shares	0.21%	0.26%	0.00%	0.00%	0.00%	4.78%	0.00%	0.00%	0.00%	0.00%
SPXL Direxion Daily S&P 500 Bull 3X Shares	0.80%	0.69%	0.74%	0.98%	0.32%	0.11%	0.22%	0.84%	1.02%	3.88%

Drawdowns

Drawdown Indicators

	CLDL	SPXL	Difference
Max Drawdown Largest peak-to-trough decline	—	-76.86%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-33.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-63.80%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-76.86%	—
Current Drawdown Current decline from peak	—	-20.45%	—
Average Drawdown Average peak-to-trough decline	—	-15.85%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.34%	—

Volatility

Volatility by Period

	CLDL	SPXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	15.89%	—
Volatility (6M) Calculated over the trailing 6-month period	—	28.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	54.30%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	50.27%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	53.37%	—