DRIP vs. SPUU
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds from Direxion - DRIP tracks the S&P Oil & Gas Exploration & Production Select Industry Index (-300%) while SPUU tracks the S&P 500 Index (200% Daily). Both are passively managed. Over the past 10 years, DRIP returned -42.61%/yr vs 23.85%/yr for SPUU. Their -0.43 correlation means they have often moved in opposite directions in the past. DRIP charges 1.07%/yr vs 0.60%/yr for SPUU.
Performance
DRIP vs. SPUU - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -53.72% return, which is significantly lower than SPUU's 20.19% return. Over the past 10 years, DRIP has underperformed SPUU with an annualized return of -42.61%, while SPUU has yielded a comparatively higher 23.85% annualized return.
DRIP
- 1D
- 3.59%
- 1M
- -22.42%
- 6M
- -46.02%
- YTD
- -53.72%
- 1Y
- -57.86%
- 3Y*
- -24.65%
- 5Y*
- -45.76%
- 10Y*
- -42.61%
- ALL TIME*
- -41.99%
SPUU
- 1D
- 2.97%
- 1M
- 3.22%
- 6M
- 15.98%
- YTD
- 20.19%
- 1Y
- 42.24%
- 3Y*
- 34.65%
- 5Y*
- 18.35%
- 10Y*
- 23.85%
- ALL TIME*
- 21.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.92M | $63.12M | $132.02M | |
| $4.50M | $4.98M | $4.51M |
DRIP vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -53.72% | -14.81% | 1.27% | -17.24% | -73.57% | -79.74% | -42.76% | -36.11% | 49.62% | -9.05% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 20.19% | 26.55% | 44.25% | 47.28% | -38.72% | 61.27% | 21.85% | 66.84% | -14.59% | 44.33% |
Correlation
The correlation between DRIP and SPUU is 0.14, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.14 |
Correlation (3Y) Balances recent behavior with more history. | -0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.33 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.41 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.43 |
The correlation between DRIP and SPUU shifts across timeframes, from -0.43 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DRIP vs. SPUU — Risk / Return Rank
DRIP
SPUU
DRIP vs. SPUU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). 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.
| DRIP | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.67 | ||
| Sortino ratioReturn per unit of downside risk | -3.93 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.28 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 2.33 | -3.27 |
| Martin ratioReturn relative to average drawdown | -1.52 | 9.41 | -10.93 |
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Drawdowns
DRIP vs. SPUU - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for DRIP and SPUU.
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Drawdown Indicators
| DRIP | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -59.35% | -40.60% |
Max Drawdown (1Y)Largest decline over 1 year | -62.18% | -18.19% | -43.99% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -35.18% | -40.84% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | -46.59% | -49.65% |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | -59.35% | -40.57% |
Current DrawdownCurrent decline from peak | -99.94% | -0.97% | -98.97% |
Average DrawdownAverage peak-to-trough decline | -90.56% | -9.43% | -81.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.17% | 4.50% | +33.67% |
Volatility
DRIP vs. SPUU - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a higher volatility of 17.47% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 7.66%. This indicates that DRIP's price experiences larger fluctuations and is considered to be riskier than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIP | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.47% | 7.66% | +9.81% |
Volatility (6M)Calculated over the trailing 6-month period | 44.98% | 20.55% | +24.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.84% | 25.83% | +31.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.64% | 33.73% | +33.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.72% | 35.81% | +59.91% |
DRIP vs. SPUU - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than SPUU's 0.60% expense ratio.
Dividends
DRIP vs. SPUU - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.84%, more than SPUU's 1.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.84% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% | 0.00% | 0.00% | 0.00% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 1.31% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
Frequently Asked Questions
DRIP and SPUU have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRIP has higher volatility (17.47%) compared to SPUU (7.66%). In terms of maximum drawdown, DRIP dropped -99.95% vs SPUU's -59.35%.
On 10-year performance, SPUU leads with 23.85% vs -42.61% for DRIP. On fees, SPUU is cheaper at 0.60% per year. On volatility, SPUU has been the lower-risk option at 7.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPUU has performed better with a 23.85% return vs -42.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUU is cheaper with a 0.60% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.84%, compared with 1.31% for SPUU.
DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while SPUU tracks S&P 500 Index (200% Daily). Their fees differ too: 1.07% for DRIP and 0.60% for SPUU.
SPUU currently has the higher Sharpe Ratio (1.65 vs -1.02), 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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