INTW vs. SPUU

Last updated Aug 4, 2026

INTW (GraniteShares 2x Long INTC Daily ETF) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds. INTW is actively managed, while SPUU is passively managed. Over the past year, INTW returned 1006.96% vs 42.24% for SPUU. Their 0.47 correlation means their historical movements had little consistent relationship. INTW charges 1.50%/yr vs 0.60%/yr for SPUU.

Performance

INTW vs. SPUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long INTC Daily ETF (INTW) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INTW achieves a 265.05% return, which is significantly higher than SPUU's 20.19% return.

INTW

• 1D: 1.44%
• 1M: -46.93%
• 6M: 132.81%
• YTD: 265.05%
• 1Y: 1,006.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 234.15%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
INTW GraniteShares 2x Long INTC Daily ETF	$147.89M	$130.41M	$215.01M
SPUU Direxion Daily S&P 500 Bull 2X ETF	$4.50M	$4.98M	$4.51M

INTW vs. SPUU - Yearly Performance Comparison

	2026 (YTD)	2025
INTW GraniteShares 2x Long INTC Daily ETF	265.05%	60.89%
SPUU Direxion Daily S&P 500 Bull 2X ETF	20.19%	20.57%

Correlation

The correlation between INTW and SPUU is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.47

INTW vs. SPUU - Sectors Allocation Comparison

Sectors	INTW	SPUU
Technology	66.6%	17.0%
Basic Materials	-	0.8%
Communication Services	-	4.2%
Consumer Cyclical	-	3.9%
Consumer Defensive	-	2.1%
Energy	-	1.5%
Financial Services	-	5.5%
Healthcare	-	4.1%
Industrials	-	3.5%
Real Estate	-	0.9%
Utilities	-	1.2%

Return for Risk

INTW vs. SPUU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

INTW

INTW Risk / Return Rank: 97
INTW Sharpe Ratio Rank: 99
INTW Sortino Ratio Rank: 95
INTW Omega Ratio Rank: 94
INTW Calmar Ratio Rank: 99
INTW Martin Ratio Rank: 98

SPUU

SPUU Risk / Return Rank: 68
SPUU Sharpe Ratio Rank: 70
SPUU Sortino Ratio Rank: 65
SPUU Omega Ratio Rank: 65
SPUU Calmar Ratio Rank: 65
SPUU Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

INTW vs. SPUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long INTC Daily ETF (INTW) 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.

	INTW	SPUU	Difference
Sharpe ratio: Return per unit of total volatility	6.48	1.65	+4.83
Sortino ratio: Return per unit of downside risk	4.09	2.19	+1.90
Omega ratio: Gain probability vs. loss probability	1.50	1.28	+0.22
Calmar ratio: Return relative to maximum drawdown	14.71	2.33	+12.38
Martin ratio: Return relative to average drawdown	39.28	9.41	+29.87

INTW vs. SPUU - Sharpe Ratio Comparison

The current INTW Sharpe Ratio is 6.48, which is higher than the SPUU Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of INTW and SPUU, 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

INTW vs. SPUU - Drawdown Comparison

The maximum INTW drawdown since its inception was -69.16%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for INTW and SPUU.

Drawdown Indicators

	INTW	SPUU	Difference
Max Drawdown Largest peak-to-trough decline	-69.16%	-59.35%	-9.81%
Max Drawdown (1Y) Largest decline over 1 year	-69.16%	-18.19%	-50.97%
Max Drawdown (3Y) Largest decline over 3 years	—	-35.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.59%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-59.35%	—
Current Drawdown Current decline from peak	-62.43%	-0.97%	-61.46%
Average Drawdown Average peak-to-trough decline	-30.68%	-9.43%	-21.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.85%	4.50%	+21.35%

Volatility

INTW vs. SPUU - Volatility Comparison

GraniteShares 2x Long INTC Daily ETF (INTW) has a higher volatility of 47.63% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 7.66%. This indicates that INTW'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.

Volatility by Period

	INTW	SPUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	47.63%	7.66%	+39.97%
Volatility (6M) Calculated over the trailing 6-month period	116.67%	20.55%	+96.12%
Volatility (1Y) Calculated over the trailing 1-year period	157.41%	25.83%	+131.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	150.45%	33.73%	+116.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	150.45%	35.81%	+114.64%

INTW vs. SPUU - Expense Ratio Comparison

INTW has a 1.50% expense ratio, which is higher than SPUU's 0.60% expense ratio.

Dividends

INTW vs. SPUU - Dividend Comparison

INTW has not paid dividends to shareholders, while SPUU's dividend yield for the trailing twelve months is around 1.31%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INTW GraniteShares 2x Long INTC Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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

Can I hold both INTW and SPUU in my portfolio?

INTW and SPUU have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INTW or SPUU?

INTW has higher volatility (47.63%) compared to SPUU (7.66%). In terms of maximum drawdown, INTW dropped -69.16% vs SPUU's -59.35%.

Which ETF is better, INTW or SPUU?

On 1-year performance, INTW leads with 1006.96% vs 42.24% for SPUU. 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.

Which ETF has performed better, INTW or SPUU?

Over the 1-year period, INTW has performed better with a 1006.96% return vs 42.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INTW or SPUU?

SPUU is cheaper with a 0.60% expense ratio, compared with 1.50% for INTW.

Which ETF pays a higher dividend yield, INTW or SPUU?

SPUU has the higher dividend yield at 1.31%, compared with 0.00% for INTW.

What is the main difference between INTW and SPUU?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for INTW and 0.60% for SPUU.

Which has better risk-adjusted returns?

INTW currently has the higher Sharpe Ratio (6.48 vs 1.65), 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.