DK vs. SPXL

Last updated Jun 23, 2026

DK (Delek US Holdings, Inc.) is a stock, while SPXL (Direxion Daily S&P 500 Bull 3X ETF) is Leveraged Equities fund tracking the S&P 500. Over the past 10 years, DK returned 16.82%/yr vs 30.87%/yr for SPXL. At a 0.39 correlation, their price movements are largely independent.

Performance

DK vs. SPXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delek US Holdings, Inc. (DK) and Direxion Daily S&P 500 Bull 3X ETF (SPXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DK achieves a 46.35% return, which is significantly higher than SPXL's 22.70% return. Over the past 10 years, DK has underperformed SPXL with an annualized return of 16.82%, while SPXL has yielded a comparatively higher 30.87% annualized return.

DK

• 1D: 3.40%
• 1M: -1.83%
• YTD: 46.35%
• 6M: 44.35%
• 1Y: 103.13%
• 3Y*: 28.11%
• 5Y*: 16.70%
• 10Y*: 16.82%

SPXL

• 1D: -0.94%
• 1M: -1.11%
• YTD: 22.70%
• 6M: 20.82%
• 1Y: 75.56%
• 3Y*: 48.64%
• 5Y*: 22.24%
• 10Y*: 30.87%

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

DK vs. SPXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DK Delek US Holdings, Inc.	46.35%	68.73%	-24.98%	-0.78%	84.03%	-6.72%	-49.56%	6.57%	-4.90%	48.75%
SPXL Direxion Daily S&P 500 Bull 3X ETF	22.70%	31.94%	63.61%	69.49%	-56.55%	98.75%	9.64%	102.80%	-25.11%	71.03%

Correlation

The correlation between DK and SPXL is -0.09, 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	-0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Nov 5, 2008	0.39

The correlation between DK and SPXL shifts across timeframes, from -0.09 (1 year) to 0.39 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DK vs. SPXL — Risk / Return Rank

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

DK

DK Risk / Return Rank: 83
DK Sharpe Ratio Rank: 87
DK Sortino Ratio Rank: 83
DK Omega Ratio Rank: 80
DK Calmar Ratio Rank: 83
DK Martin Ratio Rank: 83

SPXL

SPXL Risk / Return Rank: 59
SPXL Sharpe Ratio Rank: 64
SPXL Sortino Ratio Rank: 53
SPXL Omega Ratio Rank: 55
SPXL Calmar Ratio Rank: 59
SPXL Martin Ratio Rank: 65

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.

DK vs. SPXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delek US Holdings, Inc. (DK) and Direxion Daily S&P 500 Bull 3X ETF (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.

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.

	DK	SPXL	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.05	-0.23
Sortino ratio: Return per unit of downside risk	2.45	2.49	-0.03
Omega ratio: Gain probability vs. loss probability	1.30	1.33	-0.03
Calmar ratio: Return relative to maximum drawdown	2.88	2.84	+0.04
Martin ratio: Return relative to average drawdown	7.29	11.62	-4.33

DK vs. SPXL - Sharpe Ratio Comparison

The current DK Sharpe Ratio is 1.82, which is comparable to the SPXL Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of DK and SPXL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DK vs. SPXL - Drawdown Comparison

The maximum DK drawdown since its inception was -86.89%, which is greater than SPXL's maximum drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for DK and SPXL.

Drawdown Indicators

	DK	SPXL	Difference
Max Drawdown Largest peak-to-trough decline	-86.89%	-76.86%	-10.03%
Max Drawdown (1Y) Largest decline over 1 year	-36.02%	-26.77%	-9.25%
Max Drawdown (3Y) Largest decline over 3 years	-63.60%	-48.95%	-14.65%
Max Drawdown (5Y) Largest decline over 5 years	-63.60%	-63.80%	+0.20%
Max Drawdown (10Y) Largest decline over 10 years	-84.25%	-76.86%	-7.39%
Current Drawdown Current decline from peak	-12.56%	-6.24%	-6.32%
Average Drawdown Average peak-to-trough decline	-43.40%	-16.10%	-27.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.21%	6.52%	+7.69%

Volatility

DK vs. SPXL - Volatility Comparison

Delek US Holdings, Inc. (DK) and Direxion Daily S&P 500 Bull 3X ETF (SPXL) have volatilities of 13.37% and 13.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DK	SPXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.37%	13.99%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	40.06%	29.23%	+10.83%
Volatility (1Y) Calculated over the trailing 1-year period	57.15%	37.20%	+19.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.61%	50.50%	+2.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.46%	53.56%	+2.90%

Dividends

DK vs. SPXL - Dividend Comparison

DK's dividend yield for the trailing twelve months is around 2.38%, more than SPXL's 0.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DK Delek US Holdings, Inc.	2.38%	3.44%	5.43%	3.59%	2.26%	0.00%	5.79%	3.40%	2.95%	1.72%	2.49%	2.85%
SPXL Direxion Daily S&P 500 Bull 3X ETF	0.55%	0.69%	0.74%	0.98%	0.32%	0.11%	0.22%	0.84%	1.02%	3.88%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DK and SPXL in my portfolio?

DK and SPXL have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DK or SPXL?

SPXL has higher volatility (13.99%) compared to DK (13.37%). In terms of maximum drawdown, DK dropped -86.89% vs SPXL's -76.86%.

Which has better risk-adjusted returns?

SPXL currently has the higher Sharpe Ratio (2.05 vs 1.82), 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.