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EVAV vs. ^GSPC
Performance
Risk-Adjusted Performance
Drawdowns
Volatility

Correlation

The correlation between EVAV and ^GSPC 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. ^GSPC

Last updated May 31, 2025

Compare and contrast key facts about Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) and S&P 500 (^GSPC).

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.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: EVAV or ^GSPC.

Performance

EVAV vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) and S&P 500 (^GSPC). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

EVAV:

0.28

^GSPC:

0.66

Sortino Ratio

EVAV:

1.24

^GSPC:

0.94

Omega Ratio

EVAV:

1.14

^GSPC:

1.14

Calmar Ratio

EVAV:

0.35

^GSPC:

0.60

Martin Ratio

EVAV:

1.10

^GSPC:

2.28

Ulcer Index

EVAV:

30.74%

^GSPC:

5.01%

Daily Std Dev

EVAV:

101.31%

^GSPC:

19.77%

Max Drawdown

EVAV:

-95.27%

^GSPC:

-56.78%

Current Drawdown

EVAV:

-91.35%

^GSPC:

-3.78%

Returns By Period

In the year-to-date period, EVAV achieves a 1.65% return, which is significantly higher than ^GSPC's 0.51% return.

EVAV

YTD

1.65%

1M

35.09%

6M

2.04%

1Y

28.01%

3Y*

N/A

5Y*

N/A

10Y*

N/A

^GSPC

YTD

0.51%

1M

6.15%

6M

-2.00%

1Y

12.92%

3Y*

12.68%

5Y*

14.19%

10Y*

10.85%

*Annualized

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Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares

S&P 500

Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

EVAV vs. ^GSPC — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EVAV
The Risk-Adjusted Performance Rank of EVAV is 4545
Overall Rank
The Sharpe Ratio Rank of EVAV is 2828
Sharpe Ratio Rank
The Sortino Ratio Rank of EVAV is 7070
Sortino Ratio Rank
The Omega Ratio Rank of EVAV is 5656
Omega Ratio Rank
The Calmar Ratio Rank of EVAV is 3939
Calmar Ratio Rank
The Martin Ratio Rank of EVAV is 3434
Martin Ratio Rank
^GSPC
The Risk-Adjusted Performance Rank of ^GSPC is 6565
Overall Rank
The Sharpe Ratio Rank of ^GSPC is 6666
Sharpe Ratio Rank
The Sortino Ratio Rank of ^GSPC is 6060
Sortino Ratio Rank
The Omega Ratio Rank of ^GSPC is 6363
Omega Ratio Rank
The Calmar Ratio Rank of ^GSPC is 6464
Calmar Ratio Rank
The Martin Ratio Rank of ^GSPC is 7070
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

EVAV vs. ^GSPC - 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 S&P 500 (^GSPC). 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.

The current EVAV Sharpe Ratio is 0.28, which is lower than the ^GSPC Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of EVAV and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Drawdowns

EVAV vs. ^GSPC - Drawdown Comparison

The maximum EVAV drawdown since its inception was -95.27%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for EVAV and ^GSPC.

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Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

EVAV vs. ^GSPC - Volatility Comparison

Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) has a higher volatility of 26.69% compared to S&P 500 (^GSPC) at 4.77%. This indicates that EVAV's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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