IESC vs. SPXL

Last updated Jul 17, 2026

IESC (IES 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, IESC returned 45.13%/yr vs 28.72%/yr for SPXL. At a 0.34 correlation, their price movements are largely independent.

Performance

IESC vs. SPXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IES Holdings, Inc. (IESC) 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, IESC achieves a 56.70% return, which is significantly higher than SPXL's 24.85% return. Over the past 10 years, IESC has outperformed SPXL with an annualized return of 45.13%, while SPXL has yielded a comparatively lower 28.72% annualized return.

IESC

• 1D: -2.61%
• 1M: -12.39%
• 6M: 40.88%
• YTD: 56.70%
• 1Y: 88.79%
• 3Y*: 118.49%
• 5Y*: 66.38%
• 10Y*: 45.13%

SPXL

• 1D: -1.60%
• 1M: -0.19%
• 6M: 19.87%
• YTD: 24.85%
• 1Y: 55.18%
• 3Y*: 44.11%
• 5Y*: 21.24%
• 10Y*: 28.72%

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

IESC vs. SPXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IESC IES Holdings, Inc.	56.70%	93.58%	153.67%	122.72%	-29.76%	9.99%	79.42%	65.02%	-9.86%	-9.92%
SPXL Direxion Daily S&P 500 Bull 3X ETF	24.85%	31.94%	63.61%	69.49%	-56.55%	98.75%	9.64%	102.80%	-25.11%	71.03%

Correlation

The correlation between IESC and SPXL is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Nov 5, 2008	0.34

The correlation between IESC and SPXL shifts across timeframes, from 0.34 (all time) to 0.53 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

IESC vs. SPXL — Risk / Return Rank

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

IESC

IESC Risk / Return Rank: 84
IESC Sharpe Ratio Rank: 83
IESC Sortino Ratio Rank: 78
IESC Omega Ratio Rank: 78
IESC Calmar Ratio Rank: 91
IESC Martin Ratio Rank: 91

SPXL

SPXL Risk / Return Rank: 52
SPXL Sharpe Ratio Rank: 53
SPXL Sortino Ratio Rank: 48
SPXL Omega Ratio Rank: 49
SPXL Calmar Ratio Rank: 50
SPXL Martin Ratio Rank: 58

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.

IESC vs. SPXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IES Holdings, Inc. (IESC) 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.

	IESC	SPXL	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.47	-0.09
Sortino ratio: Return per unit of downside risk	1.92	1.97	-0.05
Omega ratio: Gain probability vs. loss probability	1.25	1.26	-0.01
Calmar ratio: Return relative to maximum drawdown	4.10	2.07	+2.02
Martin ratio: Return relative to average drawdown	10.41	8.18	+2.24

IESC vs. SPXL - Sharpe Ratio Comparison

The current IESC Sharpe Ratio is 1.38, which is comparable to the SPXL Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of IESC 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

IESC vs. SPXL - Drawdown Comparison

The maximum IESC drawdown since its inception was -98.32%, which is greater than SPXL's maximum drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for IESC and SPXL.

Drawdown Indicators

	IESC	SPXL	Difference
Max Drawdown Largest peak-to-trough decline	-98.32%	-76.86%	-21.46%
Max Drawdown (1Y) Largest decline over 1 year	-21.80%	-26.77%	+4.97%
Max Drawdown (3Y) Largest decline over 3 years	-49.23%	-48.95%	-0.28%
Max Drawdown (5Y) Largest decline over 5 years	-54.22%	-63.80%	+9.58%
Max Drawdown (10Y) Largest decline over 10 years	-54.28%	-76.86%	+22.58%
Current Drawdown Current decline from peak	-20.48%	-4.60%	-15.88%
Average Drawdown Average peak-to-trough decline	-54.84%	-16.06%	-38.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.56%	6.77%	+1.79%

Volatility

IESC vs. SPXL - Volatility Comparison

IES Holdings, Inc. (IESC) has a higher volatility of 20.37% compared to Direxion Daily S&P 500 Bull 3X ETF (SPXL) at 10.79%. This indicates that IESC'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.

Volatility by Period

	IESC	SPXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.37%	10.79%	+9.58%
Volatility (6M) Calculated over the trailing 6-month period	51.46%	30.09%	+21.37%
Volatility (1Y) Calculated over the trailing 1-year period	65.14%	37.68%	+27.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.69%	50.59%	+4.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.22%	53.38%	-5.16%

Dividends

IESC vs. SPXL - Dividend Comparison

IESC has not paid dividends to shareholders, while SPXL's dividend yield for the trailing twelve months is around 0.52%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IESC IES Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPXL Direxion Daily S&P 500 Bull 3X ETF	0.52%	0.69%	0.74%	0.98%	0.32%	0.11%	0.22%	0.84%	1.02%	3.88%

Frequently Asked Questions

Can I hold both IESC and SPXL in my portfolio?

IESC and SPXL have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IESC or SPXL?

IESC has higher volatility (20.37%) compared to SPXL (10.79%). In terms of maximum drawdown, IESC dropped -98.32% vs SPXL's -76.86%.

Which has better risk-adjusted returns?

SPXL currently has the higher Sharpe Ratio (1.47 vs 1.38), 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.