Correlation
The correlation between EVAV and SPXL is 0.59, 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.
EVAV vs. SPXL
Compare and contrast key facts about Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) and Direxion Daily S&P 500 Bull 3X Shares (SPXL).
EVAV and SPXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EVAV is a passively managed fund by Direxion that tracks the performance of the Indxx US Electric and Autonomous Vehicles Index - Benchmark TR Gross (200%). It was launched on Aug 10, 2022. 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 EVAV 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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: EVAV or SPXL.
Performance
EVAV vs. SPXL - Performance Comparison
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Key characteristics
EVAV:
0.28
SPXL:
0.30
EVAV:
1.24
SPXL:
0.71
EVAV:
1.14
SPXL:
1.10
EVAV:
0.35
SPXL:
0.26
EVAV:
1.10
SPXL:
0.82
EVAV:
30.74%
SPXL:
15.58%
EVAV:
101.31%
SPXL:
58.28%
EVAV:
-95.27%
SPXL:
-76.86%
EVAV:
-91.35%
SPXL:
-19.56%
Returns By Period
In the year-to-date period, EVAV achieves a 1.65% return, which is significantly higher than SPXL's -9.94% return.
EVAV
1.65%
37.57%
2.04%
31.45%
N/A
N/A
N/A
SPXL
-9.94%
15.78%
-17.59%
14.59%
21.18%
30.98%
21.54%
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EVAV vs. SPXL - Expense Ratio Comparison
EVAV has a 0.98% expense ratio, which is lower than SPXL's 1.02% expense ratio.
Risk-Adjusted Performance
EVAV vs. SPXL — Risk-Adjusted Performance Rank
EVAV
SPXL
EVAV vs. SPXL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) 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.
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Dividends
EVAV vs. SPXL - Dividend Comparison
EVAV's dividend yield for the trailing twelve months is around 2.13%, more than SPXL's 0.89% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
EVAV Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares | 2.13% | 2.52% | 2.34% | 0.51% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPXL Direxion Daily S&P 500 Bull 3X Shares | 0.89% | 0.74% | 0.98% | 0.33% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% |
Drawdowns
EVAV vs. SPXL - Drawdown Comparison
The maximum EVAV drawdown since its inception was -95.27%, which is greater than SPXL's maximum drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for EVAV and SPXL.
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Volatility
EVAV vs. SPXL - Volatility Comparison
Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) has a higher volatility of 26.69% compared to Direxion Daily S&P 500 Bull 3X Shares (SPXL) at 14.30%. This indicates that EVAV's price experiences larger fluctuations and is considered to be riskier than SPXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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