KORU vs. SPXS
KORU (Direxion Daily South Korea Bull 3X Shares) and SPXS (Direxion Daily S&P 500 Bear 3X Shares) are both exchange-traded funds - KORU is a Leveraged Equities fund tracking the MSCI Korea 25-50 Index, while SPXS is a Inverse Equities fund tracking the S&P 500 Index (-300%). Both are passively managed. Over the past 10 years, KORU returned 17.17%/yr vs -42.33%/yr for SPXS. At a correlation of -0.59, they often move in opposite directions. KORU charges 1.29%/yr vs 1.08%/yr for SPXS.
Performance
KORU vs. SPXS - Performance Comparison
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Returns By Period
In the year-to-date period, KORU achieves a 356.66% return, which is significantly higher than SPXS's -19.79% return. Over the past 10 years, KORU has outperformed SPXS with an annualized return of 17.17%, while SPXS has yielded a comparatively lower -42.33% annualized return.
KORU
- 1D
- 11.85%
- 1M
- -18.31%
- YTD
- 356.66%
- 6M
- 393.86%
- 1Y
- 905.39%
- 3Y*
- 110.38%
- 5Y*
- 14.71%
- 10Y*
- 17.17%
SPXS
- 1D
- 0.04%
- 1M
- 6.38%
- YTD
- -19.79%
- 6M
- -16.59%
- 1Y
- -41.52%
- 3Y*
- -40.72%
- 5Y*
- -33.23%
- 10Y*
- -42.33%
KORU vs. SPXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KORU Direxion Daily South Korea Bull 3X Shares | 356.66% | 432.73% | -62.18% | 28.61% | -70.16% | -33.86% | 48.78% | 5.47% | -59.89% | 167.08% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | -19.79% | -41.53% | -42.84% | -45.97% | 36.14% | -58.11% | -70.47% | -56.40% | 3.44% | -44.52% |
Correlation
The correlation between KORU and SPXS is -0.63, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.63 |
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 10, 2013 | -0.59 |
The correlation between KORU and SPXS has been stable across timeframes, ranging from -0.63 to -0.59 - a consistent structural relationship.
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Return for Risk
KORU vs. SPXS — Risk / Return Rank
KORU
SPXS
KORU vs. SPXS - 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 Bear 3X Shares (SPXS). 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.
| KORU | SPXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.47 | ||
| Sortino ratioReturn per unit of downside risk | +5.36 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 0.81 | +0.72 |
| Calmar ratioReturn relative to maximum drawdown | 14.90 | -0.91 | +15.81 |
| Martin ratioReturn relative to average drawdown | 43.11 | -1.60 | +44.71 |
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Drawdowns
KORU vs. SPXS - Drawdown Comparison
The maximum KORU drawdown since its inception was -95.79%, roughly equal to the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for KORU and SPXS.
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Drawdown Indicators
| KORU | SPXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.79% | -100.00% | +4.21% |
Max Drawdown (1Y)Largest decline over 1 year | -61.39% | -45.74% | -15.65% |
Max Drawdown (3Y)Largest decline over 3 years | -73.34% | -84.13% | +10.79% |
Max Drawdown (5Y)Largest decline over 5 years | -93.34% | -90.11% | -3.23% |
Max Drawdown (10Y)Largest decline over 10 years | -95.79% | -99.61% | +3.82% |
Current DrawdownCurrent decline from peak | -34.45% | -100.00% | +65.55% |
Average DrawdownAverage peak-to-trough decline | -57.40% | -96.29% | +38.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.18% | 27.24% | -6.06% |
Volatility
KORU vs. SPXS - Volatility Comparison
Direxion Daily South Korea Bull 3X Shares (KORU) has a higher volatility of 88.86% compared to Direxion Daily S&P 500 Bear 3X Shares (SPXS) at 14.10%. This indicates that KORU's price experiences larger fluctuations and is considered to be riskier than SPXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KORU | SPXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 88.86% | 14.10% | +74.76% |
Volatility (6M)Calculated over the trailing 6-month period | 139.03% | 29.36% | +109.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 144.03% | 37.23% | +106.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 91.57% | 50.68% | +40.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 83.10% | 53.57% | +29.53% |
KORU vs. SPXS - Expense Ratio Comparison
KORU has a 1.29% expense ratio, which is higher than SPXS's 1.08% expense ratio.
Dividends
KORU vs. SPXS - Dividend Comparison
KORU's dividend yield for the trailing twelve months is around 0.19%, less than SPXS's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
KORU Direxion Daily South Korea Bull 3X Shares | 0.19% | 0.89% | 4.10% | 2.55% | 0.48% | 0.76% | 0.01% | 0.93% | 1.40% | 3.59% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | 4.23% | 4.93% | 6.18% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% | 0.00% |
Frequently Asked Questions
KORU and SPXS have a correlation of -0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KORU has higher volatility (88.86%) compared to SPXS (14.10%). In terms of maximum drawdown, KORU dropped -95.79% vs SPXS's -100.00%.
On 10-year performance, KORU leads with 17.17% vs -42.33% for SPXS. On fees, SPXS is cheaper at 1.08% per year. On volatility, SPXS has been the lower-risk option at 14.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, KORU has performed better with a 17.17% return vs -42.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPXS is cheaper with a 1.08% expense ratio, compared with 1.29% for KORU.
SPXS has the higher dividend yield at 4.23%, compared with 0.19% for KORU.
KORU is categorized as Leveraged Equities, while SPXS is Inverse Equities. KORU tracks MSCI Korea 25-50 Index, while SPXS tracks S&P 500 Index (-300%). Their fees differ too: 1.29% for KORU and 1.08% for SPXS.
KORU currently has the higher Sharpe Ratio (6.35 vs -1.12), 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.
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