COM vs. SPXS
COM (Direxion Auspice Broad Commodity Strategy ETF) and SPXS (Direxion Daily S&P 500 Bear 3X Shares) are both exchange-traded funds - COM is a Commodities fund tracking the Auspice Broad Commodity ER Index, while SPXS is a Inverse Equities fund tracking the S&P 500 Index (-300%). Both are passively managed. Over the past 5 years, COM returned 7.89%/yr vs -33.53%/yr for SPXS. At a correlation of -0.15, they often move in opposite directions. COM charges 0.70%/yr vs 1.08%/yr for SPXS.
Performance
COM vs. SPXS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, COM achieves a 11.12% return, which is significantly higher than SPXS's -20.76% return.
COM
- 1D
- -1.21%
- 1M
- -5.08%
- YTD
- 11.12%
- 6M
- 10.20%
- 1Y
- 18.87%
- 3Y*
- 6.27%
- 5Y*
- 7.89%
- 10Y*
- —
SPXS
- 1D
- 3.42%
- 1M
- 3.11%
- YTD
- -20.76%
- 6M
- -18.37%
- 1Y
- -44.21%
- 3Y*
- -40.67%
- 5Y*
- -33.53%
- 10Y*
- -42.08%
COM vs. SPXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COM Direxion Auspice Broad Commodity Strategy ETF | 11.12% | 7.72% | 5.81% | -2.09% | 9.17% | 28.00% | 6.63% | -0.18% | -0.03% | -1.97% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | -20.76% | -41.53% | -42.84% | -45.97% | 36.14% | -58.11% | -70.47% | -56.40% | 3.44% | -33.86% |
Correlation
The correlation between COM and SPXS is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2017 | -0.15 |
The correlation between COM and SPXS shifts across timeframes, from -0.15 (all time) to -0.04 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
COM vs. SPXS — Risk / Return Rank
COM
SPXS
COM vs. SPXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Auspice Broad Commodity Strategy ETF (COM) 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.
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.
| COM | SPXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.00 | ||
| Sortino ratioReturn per unit of downside risk | +4.36 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.79 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | -0.94 | +3.39 |
| Martin ratioReturn relative to average drawdown | 8.97 | -1.63 | +10.60 |
Loading charts...
Drawdowns
COM vs. SPXS - Drawdown Comparison
The maximum COM drawdown since its inception was -15.95%, smaller than the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for COM and SPXS.
Loading charts...
Drawdown Indicators
| COM | SPXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.95% | -100.00% | +84.05% |
Max Drawdown (1Y)Largest decline over 1 year | -7.74% | -46.94% | +39.20% |
Max Drawdown (3Y)Largest decline over 3 years | -8.50% | -84.13% | +75.63% |
Max Drawdown (5Y)Largest decline over 5 years | -14.02% | -90.11% | +76.09% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.63% | — |
Current DrawdownCurrent decline from peak | -7.74% | -100.00% | +92.26% |
Average DrawdownAverage peak-to-trough decline | -6.28% | -96.29% | +90.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 29.25% | -27.13% |
Volatility
COM vs. SPXS - Volatility Comparison
The current volatility for Direxion Auspice Broad Commodity Strategy ETF (COM) is 2.26%, while Direxion Daily S&P 500 Bear 3X Shares (SPXS) has a volatility of 14.08%. This indicates that COM 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.
Loading charts...
Volatility by Period
| COM | SPXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.26% | 14.08% | -11.82% |
Volatility (6M)Calculated over the trailing 6-month period | 8.61% | 29.38% | -20.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.59% | 37.37% | -26.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.55% | 50.68% | -41.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.77% | 53.59% | -43.82% |
COM vs. SPXS - Expense Ratio Comparison
COM has a 0.70% expense ratio, which is lower than SPXS's 1.08% expense ratio.
Dividends
COM vs. SPXS - Dividend Comparison
COM's dividend yield for the trailing twelve months is around 2.55%, less than SPXS's 4.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
COM Direxion Auspice Broad Commodity Strategy ETF | 2.55% | 2.99% | 3.88% | 3.80% | 8.59% | 10.32% | 0.13% | 1.09% | 2.36% | 0.09% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | 4.62% | 4.93% | 6.18% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% | 0.00% |
Frequently Asked Questions
COM and SPXS have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPXS has higher volatility (14.08%) compared to COM (2.26%). In terms of maximum drawdown, COM dropped -15.95% vs SPXS's -100.00%.
On 5-year performance, COM leads with 7.89% vs -33.53% for SPXS. On fees, COM is cheaper at 0.70% per year. On volatility, COM has been the lower-risk option at 2.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, COM has performed better with a 7.89% return vs -33.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COM is cheaper with a 0.70% expense ratio, compared with 1.08% for SPXS.
SPXS has the higher dividend yield at 4.62%, compared with 2.55% for COM.
COM is categorized as Commodities, while SPXS is Inverse Equities. COM tracks Auspice Broad Commodity ER Index, while SPXS tracks S&P 500 Index (-300%). Their fees differ too: 0.70% for COM and 1.08% for SPXS.
COM currently has the higher Sharpe Ratio (1.81 vs -1.19), 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.
Find the right allocation for COM and SPXS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer