KLAG vs. SPXL

Last updated Jul 18, 2026

KLAG (Leverage Shares 2X Long KLAC Daily ETF) and SPXL (Direxion Daily S&P 500 Bull 3X ETF) are both Leveraged Equities funds - KLAG tracks the KLA Corporation (KLAC) while SPXL tracks the S&P 500. Both are passively managed. A 0.62 correlation means they provide meaningful diversification when combined. KLAG charges 0.75%/yr vs 0.84%/yr for SPXL.

Performance

KLAG vs. SPXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long KLAC Daily ETF (KLAG) 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, KLAG achieves a 121.70% return, which is significantly higher than SPXL's 20.97% return.

KLAG

• 1D: -5.35%
• 1M: -27.85%
• 6M: 35.36%
• YTD: 121.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPXL

• 1D: -3.10%
• 1M: 0.49%
• 6M: 16.58%
• YTD: 20.97%
• 1Y: 47.72%
• 3Y*: 41.59%
• 5Y*: 20.48%
• 10Y*: 28.37%

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

KLAG vs. SPXL - Yearly Performance Comparison

	2026 (YTD)	2025
KLAG Leverage Shares 2X Long KLAC Daily ETF	121.70%	-0.75%
SPXL Direxion Daily S&P 500 Bull 3X ETF	20.97%	5.27%

Correlation

The correlation between KLAG and SPXL is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.62

Return for Risk

KLAG vs. SPXL — Risk / Return Rank

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

KLAG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPXL

SPXL Risk / Return Rank: 44
SPXL Sharpe Ratio Rank: 44
SPXL Sortino Ratio Rank: 41
SPXL Omega Ratio Rank: 42
SPXL Calmar Ratio Rank: 43
SPXL Martin Ratio Rank: 52

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.

KLAG vs. SPXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long KLAC Daily ETF (KLAG) 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.

	KLAG	SPXL	Difference
Sharpe ratio: Return per unit of total volatility	—	1.27	—
Sortino ratio: Return per unit of downside risk	—	1.77	—
Omega ratio: Gain probability vs. loss probability	—	1.23	—
Calmar ratio: Return relative to maximum drawdown	—	1.79	—
Martin ratio: Return relative to average drawdown	—	7.05	—

Drawdowns

KLAG vs. SPXL - Drawdown Comparison

The maximum KLAG drawdown since its inception was -52.99%, smaller than the maximum SPXL drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for KLAG and SPXL.

Drawdown Indicators

	KLAG	SPXL	Difference
Max Drawdown Largest peak-to-trough decline	-52.99%	-76.86%	+23.87%
Max Drawdown (1Y) Largest decline over 1 year	—	-26.77%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-48.95%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-63.80%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-76.86%	—
Current Drawdown Current decline from peak	-52.99%	-7.56%	-45.43%
Average Drawdown Average peak-to-trough decline	-16.84%	-16.06%	-0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.79%	—

Volatility

Volatility by Period

	KLAG	SPXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	30.23%	—
Volatility (1Y) Calculated over the trailing 1-year period	136.00%	37.82%	+98.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	136.00%	50.59%	+85.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	136.00%	53.39%	+82.61%

KLAG vs. SPXL - Expense Ratio Comparison

KLAG has a 0.75% expense ratio, which is lower than SPXL's 0.84% expense ratio.

Dividends

KLAG vs. SPXL - Dividend Comparison

KLAG has not paid dividends to shareholders, while SPXL's dividend yield for the trailing twelve months is around 0.54%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
KLAG Leverage Shares 2X Long KLAC Daily ETF	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	0.54%	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 KLAG and SPXL in my portfolio?

KLAG and SPXL have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KLAG or SPXL?

On fees, KLAG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KLAG or SPXL?

KLAG is cheaper with a 0.75% expense ratio, compared with 0.84% for SPXL.

Which ETF pays a higher dividend yield, KLAG or SPXL?

SPXL has the higher dividend yield at 0.54%, compared with 0.00% for KLAG.

What is the main difference between KLAG and SPXL?

KLAG tracks KLA Corporation (KLAC), while SPXL tracks S&P 500. They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for KLAG and 0.84% for SPXL.