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 -42.30%/yr vs 23.96%/yr for SPUU. At a correlation of -0.43, they often move in opposite directions. DRIP charges 1.07%/yr vs 0.60%/yr for SPUU.
Performance
DRIP vs. SPUU - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DRIP achieves a -48.42% return, which is significantly lower than SPUU's 18.57% return. Over the past 10 years, DRIP has underperformed SPUU with an annualized return of -42.30%, while SPUU has yielded a comparatively higher 23.96% annualized return.
DRIP
- 1D
- -0.65%
- 1M
- -2.28%
- 6M
- -45.20%
- YTD
- -48.42%
- 1Y
- -47.19%
- 3Y*
- -27.53%
- 5Y*
- -43.20%
- 10Y*
- -42.30%
SPUU
- 1D
- 0.61%
- 1M
- 2.60%
- 6M
- 14.73%
- YTD
- 18.57%
- 1Y
- 38.47%
- 3Y*
- 33.35%
- 5Y*
- 18.49%
- 10Y*
- 23.96%
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 | -48.42% | -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 | 18.57% | 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 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | -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 0.12 (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
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 | -2.37 | ||
| Sortino ratioReturn per unit of downside risk | -3.27 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.27 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 2.13 | -2.89 |
| Martin ratioReturn relative to average drawdown | -1.32 | 8.81 | -10.13 |
Loading charts...
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.
Loading charts...
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% | -2.31% | -97.63% |
Average DrawdownAverage peak-to-trough decline | -90.51% | -9.46% | -81.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.66% | 4.38% | +31.28% |
Volatility
DRIP vs. SPUU - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a higher volatility of 16.32% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 7.57%. 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.
Loading charts...
Volatility by Period
| DRIP | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.32% | 7.57% | +8.75% |
Volatility (6M)Calculated over the trailing 6-month period | 44.01% | 20.10% | +23.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.73% | 25.25% | +31.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.02% | 33.69% | +34.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.90% | 35.76% | +60.14% |
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 3.44%, more than SPUU's 1.32% 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 | 3.44% | 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 | 1.32% | 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 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRIP has higher volatility (16.32%) compared to SPUU (7.57%). In terms of maximum drawdown, DRIP dropped -99.95% vs SPUU's -59.35%.
On 10-year performance, SPUU leads with 23.96% vs -42.30% for DRIP. On fees, SPUU is cheaper at 0.60% per year. On volatility, SPUU has been the lower-risk option at 7.57%. 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 23.96% return vs -42.30%. 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 3.44%, compared with 1.32% 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 (1.53 vs -0.83), 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 DRIP and SPUU
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