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 8.28%/yr vs -34.76%/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
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Returns By Period
In the year-to-date period, COM achieves a 14.96% return, which is significantly higher than SPXS's -25.49% return.
COM
- 1D
- -0.76%
- 1M
- -2.14%
- YTD
- 14.96%
- 6M
- 14.36%
- 1Y
- 22.41%
- 3Y*
- 7.16%
- 5Y*
- 8.28%
- 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%
COM vs. SPXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COM Direxion Auspice Broad Commodity Strategy ETF | 14.96% | 7.72% | 5.81% | -2.09% | 9.17% | 28.00% | 6.63% | -0.18% | -0.03% | -2.05% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | -25.49% | -41.53% | -42.84% | -45.97% | 36.14% | -58.11% | -70.47% | -56.40% | 3.44% | -33.42% |
Correlation
The correlation between COM and SPXS is -0.01, 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 | -0.01 |
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 31, 2017 | -0.15 |
The correlation between COM and SPXS shifts across timeframes, from -0.15 (all time) to -0.01 (1 year), reflecting how their relationship changes across market environments.
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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.
| COM | SPXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.54 | ||
| Sortino ratioReturn per unit of downside risk | +5.19 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 0.75 | +0.66 |
| Calmar ratioReturn relative to maximum drawdown | 4.95 | -0.96 | +5.91 |
| Martin ratioReturn relative to average drawdown | 14.37 | -1.62 | +15.99 |
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
| COM | SPXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.16 | -1.38 | +3.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | -0.69 | +1.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | -0.83 | +1.56 |
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.
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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 | -4.55% | -50.77% | +46.22% |
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 | -4.55% | -100.00% | +95.45% |
Average DrawdownAverage peak-to-trough decline | -6.28% | -96.30% | +90.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.56% | 30.04% | -28.48% |
Volatility
COM vs. SPXS - Volatility Comparison
The current volatility for Direxion Auspice Broad Commodity Strategy ETF (COM) is 4.04%, while Direxion Daily S&P 500 Bear 3X Shares (SPXS) has a volatility of 8.51%. 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.
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Volatility by Period
| COM | SPXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 8.51% | -4.47% |
Volatility (6M)Calculated over the trailing 6-month period | 8.60% | 26.82% | -18.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.41% | 35.54% | -25.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.60% | 50.39% | -40.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.77% | 53.54% | -43.77% |
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 2.46%, less than SPXS's 4.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
COM Direxion Auspice Broad Commodity Strategy ETF | 2.46% | 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 | 4.91% | 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 -0.01, 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 COM (4.04%). In terms of maximum drawdown, COM dropped -15.95% vs SPXS's -100.00%.
On 5-year performance, COM leads with 8.28% vs -34.76% for SPXS. On fees, COM is cheaper at 0.70% per year. On volatility, COM has been the lower-risk option at 4.04%. 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 8.28% return vs -34.76%. 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 4.91%, compared with 2.46% 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 (2.16 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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