KORU vs. SPXL

Last updated Jun 5, 2026

KORU (Direxion Daily South Korea Bull 3X Shares) and SPXL (Direxion Daily S&P 500 Bull 3X ETF) are both Leveraged Equities funds from Direxion - KORU tracks the MSCI Korea 25-50 Index while SPXL tracks the S&P 500. Both are passively managed. Over the past 10 years, KORU returned 17.48%/yr vs 30.15%/yr for SPXL. A 0.59 correlation means they provide meaningful diversification when combined. KORU charges 1.29%/yr vs 0.84%/yr for SPXL.

Performance

KORU vs. SPXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily South Korea Bull 3X Shares (KORU) 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, KORU achieves a 478.17% return, which is significantly higher than SPXL's 29.52% return. Over the past 10 years, KORU has underperformed SPXL with an annualized return of 17.48%, while SPXL has yielded a comparatively higher 30.15% annualized return.

KORU

• 1D: -12.29%
• 1M: 43.43%
• YTD: 478.17%
• 6M: 617.53%
• 1Y: 1,709.41%
• 3Y*: 122.40%
• 5Y*: 20.22%
• 10Y*: 17.48%

SPXL

• 1D: 1.07%
• 1M: 13.37%
• YTD: 29.52%
• 6M: 27.91%
• 1Y: 83.85%
• 3Y*: 53.71%
• 5Y*: 23.77%
• 10Y*: 30.15%

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

KORU vs. SPXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KORU Direxion Daily South Korea Bull 3X Shares	478.17%	432.73%	-62.18%	28.61%	-70.16%	-33.86%	48.78%	5.47%	-59.89%	167.08%
SPXL Direxion Daily S&P 500 Bull 3X ETF	29.52%	31.94%	63.61%	69.49%	-56.55%	98.75%	9.64%	102.80%	-25.11%	71.03%

Correlation

The correlation between KORU and SPXL is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Apr 11, 2013	0.59

The correlation between KORU and SPXL has been stable across timeframes, ranging from 0.59 to 0.61 - a consistent structural relationship.

KORU vs. SPXL - Sectors Allocation Comparison

Sectors	KORU	SPXL
Technology	52.3%	8.5%
Industrials	20.4%	1.7%
Financial Services	16.7%	2.6%
Consumer Cyclical	5.8%	2.2%
Healthcare	3.5%	1.9%
Communication Services	2.9%	2.4%
Basic Materials	2.0%	0.4%
Consumer Defensive	1.8%	1.1%
Energy	1.4%	0.8%
Utilities	0.4%	0.6%
Real Estate	-	0.4%

Return for Risk

KORU vs. SPXL — Risk / Return Rank

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

KORU

KORU Risk / Return Rank: 97
KORU Sharpe Ratio Rank: 100
KORU Sortino Ratio Rank: 94
KORU Omega Ratio Rank: 94
KORU Calmar Ratio Rank: 99
KORU Martin Ratio Rank: 99

SPXL

SPXL Risk / Return Rank: 67
SPXL Sharpe Ratio Rank: 74
SPXL Sortino Ratio Rank: 62
SPXL Omega Ratio Rank: 63
SPXL Calmar Ratio Rank: 64
SPXL Martin Ratio Rank: 72

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.

KORU vs. SPXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily South Korea Bull 3X Shares (KORU) 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.

	KORU	SPXL	Difference
Sharpe ratio: Return per unit of total volatility	13.88	2.38	+11.50
Sortino ratio: Return per unit of downside risk	4.85	2.83	+2.02
Omega ratio: Gain probability vs. loss probability	1.67	1.37	+0.30
Calmar ratio: Return relative to maximum drawdown	28.19	3.15	+25.04
Martin ratio: Return relative to average drawdown	89.21	13.30	+75.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KORU vs. SPXL - Sharpe Ratio Comparison

The current KORU Sharpe Ratio is 13.88, which is higher than the SPXL Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of KORU 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.

Sharpe Ratios by Period

	KORU	SPXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	13.88	2.38	+11.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.48	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	0.57	-0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.53	-0.42

Drawdowns

KORU vs. SPXL - Drawdown Comparison

The maximum KORU drawdown since its inception was -95.79%, which is greater than SPXL's maximum drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for KORU and SPXL.

Drawdown Indicators

	KORU	SPXL	Difference
Max Drawdown Largest peak-to-trough decline	-95.79%	-76.86%	-18.93%
Max Drawdown (1Y) Largest decline over 1 year	-61.39%	-26.77%	-34.62%
Max Drawdown (3Y) Largest decline over 3 years	-73.71%	-48.95%	-24.76%
Max Drawdown (5Y) Largest decline over 5 years	-93.35%	-63.80%	-29.55%
Max Drawdown (10Y) Largest decline over 10 years	-95.79%	-76.86%	-18.93%
Current Drawdown Current decline from peak	-17.01%	-1.03%	-15.98%
Average Drawdown Average peak-to-trough decline	-57.52%	-15.72%	-41.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.36%	6.32%	+13.04%

Volatility

KORU vs. SPXL - Volatility Comparison

Direxion Daily South Korea Bull 3X Shares (KORU) has a higher volatility of 60.60% compared to Direxion Daily S&P 500 Bull 3X ETF (SPXL) at 8.33%. This indicates that KORU'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

	KORU	SPXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	60.60%	8.33%	+52.27%
Volatility (6M) Calculated over the trailing 6-month period	111.66%	26.68%	+84.98%
Volatility (1Y) Calculated over the trailing 1-year period	124.91%	35.37%	+89.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	85.28%	50.23%	+35.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.99%	53.41%	+26.58%

KORU vs. SPXL - Expense Ratio Comparison

KORU has a 1.29% expense ratio, which is higher than SPXL's 0.84% expense ratio.

Dividends

KORU vs. SPXL - Dividend Comparison

KORU's dividend yield for the trailing twelve months is around 0.16%, less than SPXL's 0.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
KORU Direxion Daily South Korea Bull 3X Shares	0.16%	0.89%	4.10%	2.55%	0.48%	0.76%	0.01%	0.93%	1.40%	3.59%
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 KORU and SPXL in my portfolio?

KORU and SPXL have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KORU or SPXL?

KORU has higher volatility (60.60%) compared to SPXL (8.33%). In terms of maximum drawdown, KORU dropped -95.79% vs SPXL's -76.86%.

Which ETF is better, KORU or SPXL?

On 10-year performance, SPXL leads with 30.15% vs 17.48% for KORU. On fees, SPXL is cheaper at 0.84% per year. On volatility, SPXL has been the lower-risk option at 8.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KORU or SPXL?

Over the 10-year period, SPXL has performed better with a 30.15% return vs 17.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KORU or SPXL?

SPXL is cheaper with a 0.84% expense ratio, compared with 1.29% for KORU.

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

SPXL has the higher dividend yield at 0.52%, compared with 0.16% for KORU.

What is the main difference between KORU and SPXL?

KORU tracks MSCI Korea 25-50 Index, while SPXL tracks S&P 500. Their fees differ too: 1.29% for KORU and 0.84% for SPXL.

Which has better risk-adjusted returns?

KORU currently has the higher Sharpe Ratio (13.88 vs 2.38), 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.