CU1.L vs. SPXL

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI USA UCITS ETF USD (Acc) (CU1.L) and Direxion Daily S&P 500 Bull 3X Shares (SPXL).

CU1.L and SPXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CU1.L is a passively managed fund by iShares that tracks the performance of the Russell 1000 TR USD. It was launched on Jan 12, 2010. 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. Both CU1.L and SPXL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

CU1.L vs. SPXL - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI USA UCITS ETF USD (Acc) (CU1.L) and Direxion Daily S&P 500 Bull 3X Shares (SPXL). The values are adjusted to include any dividend payments, if applicable.

CU1.L vs. SPXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CU1.L iShares MSCI USA UCITS ETF USD (Acc)	-3.31%	9.22%	27.38%	20.66%	-10.62%	28.72%	16.30%	26.24%	-0.40%	10.55%
SPXL Direxion Daily S&P 500 Bull 3X Shares	-12.64%	22.54%	66.46%	61.01%	-51.39%	100.63%	6.42%	95.08%	-20.67%	56.24%

Different Trading Currencies

CU1.L is traded in GBp, while SPXL is traded in USD. To make them comparable, the SPXL values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, CU1.L achieves a -3.31% return, which is significantly higher than SPXL's -12.64% return. Over the past 10 years, CU1.L has underperformed SPXL with an annualized return of 14.42%, while SPXL has yielded a comparatively higher 26.50% annualized return.

CU1.L

• 1D: 1.58%
• 1M: -3.24%
• YTD: -3.31%
• 6M: -0.20%
• 1Y: 14.71%
• 3Y*: 15.83%
• 5Y*: 12.11%
• 10Y*: 14.42%

SPXL

• 1D: 2.06%
• 1M: -12.77%
• YTD: -12.64%
• 6M: -9.90%
• 1Y: 31.17%
• 3Y*: 35.24%
• 5Y*: 18.52%
• 10Y*: 26.50%

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

CU1.L vs. SPXL - Expense Ratio Comparison

CU1.L has a 0.33% expense ratio, which is lower than SPXL's 1.02% expense ratio.

SPXL

Direxion Daily S&P 500 Bull 3X Shares

CU1.L

iShares MSCI USA UCITS ETF USD (Acc)

Return for Risk

CU1.L vs. SPXL — Risk / Return Rank

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

CU1.L

CU1.L Risk / Return Rank: 54
CU1.L Sharpe Ratio Rank: 49
CU1.L Sortino Ratio Rank: 48
CU1.L Omega Ratio Rank: 50
CU1.L Calmar Ratio Rank: 67
CU1.L Martin Ratio Rank: 58

SPXL

SPXL Risk / Return Rank: 40
SPXL Sharpe Ratio Rank: 32
SPXL Sortino Ratio Rank: 41
SPXL Omega Ratio Rank: 45
SPXL Calmar Ratio Rank: 40
SPXL Martin Ratio Rank: 44

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.

CU1.L vs. SPXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA UCITS ETF USD (Acc) (CU1.L) 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.

	CU1.L	SPXL	Difference
Sharpe ratio Return per unit of total volatility	0.94	0.58	+0.36
Sortino ratio Return per unit of downside risk	1.37	1.14	+0.23
Omega ratio Gain probability vs. loss probability	1.20	1.18	+0.02
Calmar ratio Return relative to maximum drawdown	1.89	1.00	+0.88
Martin ratio Return relative to average drawdown	6.33	3.72	+2.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CU1.L vs. SPXL - Sharpe Ratio Comparison

The current CU1.L Sharpe Ratio is 0.94, which is higher than the SPXL Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of CU1.L and SPXL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CU1.L	SPXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	0.58	+0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.39	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.92	0.51	+0.40
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.52	+0.52

Correlation

The correlation between CU1.L and SPXL is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CU1.L vs. SPXL - Dividend Comparison

CU1.L has not paid dividends to shareholders, while SPXL's dividend yield for the trailing twelve months is around 0.78%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CU1.L iShares MSCI USA UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPXL Direxion Daily S&P 500 Bull 3X Shares	0.78%	0.69%	0.74%	0.98%	0.32%	0.11%	0.22%	0.84%	1.02%	3.88%

Drawdowns

CU1.L vs. SPXL - Drawdown Comparison

The maximum CU1.L drawdown since its inception was -25.87%, smaller than the maximum SPXL drawdown of -74.08%. Use the drawdown chart below to compare losses from any high point for CU1.L and SPXL.

Drawdown Indicators

	CU1.L	SPXL	Difference
Max Drawdown Largest peak-to-trough decline	-25.87%	-76.86%	+50.99%
Max Drawdown (1Y) Largest decline over 1 year	-10.85%	-33.42%	+22.57%
Max Drawdown (5Y) Largest decline over 5 years	-21.55%	-63.80%	+42.25%
Max Drawdown (10Y) Largest decline over 10 years	-25.87%	-76.86%	+50.99%
Current Drawdown Current decline from peak	-5.30%	-18.62%	+13.32%
Average Drawdown Average peak-to-trough decline	-3.46%	-15.85%	+12.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	8.42%	-6.13%

Volatility

CU1.L vs. SPXL - Volatility Comparison

The current volatility for iShares MSCI USA UCITS ETF USD (Acc) (CU1.L) is 3.75%, while Direxion Daily S&P 500 Bull 3X Shares (SPXL) has a volatility of 14.87%. This indicates that CU1.L experiences smaller price fluctuations and is considered to be less risky than SPXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CU1.L	SPXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	14.87%	-11.12%
Volatility (6M) Calculated over the trailing 6-month period	8.38%	27.66%	-19.28%
Volatility (1Y) Calculated over the trailing 1-year period	15.67%	53.74%	-38.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.63%	47.76%	-33.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.79%	51.82%	-36.03%