KORU vs. SPXS
KORU (Direxion Daily MSCI South Korea Bull 3X Shares) and SPXS (Direxion Daily S&P 500 Bear 3X Shares) are both exchange-traded funds - KORU is a South Korea 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 4.90%/yr vs -41.24%/yr for SPXS. At a correlation of -0.59, they often move in opposite directions. KORU charges 1.32%/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 105.44% return, which is significantly higher than SPXS's -24.88% return. Over the past 10 years, KORU has outperformed SPXS with an annualized return of 4.90%, while SPXS has yielded a comparatively lower -41.24% annualized return.
KORU
- 1D
- -14.72%
- 1M
- -59.41%
- 6M
- 40.56%
- YTD
- 105.44%
- 1Y
- 347.48%
- 3Y*
- 53.48%
- 5Y*
- -0.18%
- 10Y*
- 4.90%
SPXS
- 1D
- 1.67%
- 1M
- -0.21%
- 6M
- -21.79%
- YTD
- -24.88%
- 1Y
- -41.05%
- 3Y*
- -39.52%
- 5Y*
- -33.62%
- 10Y*
- -41.24%
KORU vs. SPXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KORU Direxion Daily MSCI South Korea Bull 3X Shares | 105.44% | 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 | -24.88% | -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 -0.64, 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 | -0.64 |
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 -0.64 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 MSCI 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 | +3.40 | ||
| Sortino ratioReturn per unit of downside risk | +4.32 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 0.82 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 4.97 | -0.94 | +5.91 |
| Martin ratioReturn relative to average drawdown | 14.03 | -1.62 | +15.64 |
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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 | -70.51% | -43.64% | -26.87% |
Max Drawdown (3Y)Largest decline over 3 years | -73.34% | -84.13% | +10.79% |
Max Drawdown (5Y)Largest decline over 5 years | -92.74% | -90.11% | -2.63% |
Max Drawdown (10Y)Largest decline over 10 years | -95.79% | -99.56% | +3.77% |
Current DrawdownCurrent decline from peak | -70.51% | -100.00% | +29.49% |
Average DrawdownAverage peak-to-trough decline | -57.39% | -96.31% | +38.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.92% | 25.40% | -0.48% |
Volatility
KORU vs. SPXS - Volatility Comparison
Direxion Daily MSCI South Korea Bull 3X Shares (KORU) has a higher volatility of 70.60% compared to Direxion Daily S&P 500 Bear 3X Shares (SPXS) at 10.70%. 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 | 70.60% | 10.70% | +59.90% |
Volatility (6M)Calculated over the trailing 6-month period | 147.53% | 30.07% | +117.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 151.62% | 37.65% | +113.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.03% | 50.74% | +43.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 84.35% | 53.50% | +30.85% |
KORU vs. SPXS - Expense Ratio Comparison
KORU has a 1.32% 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 0.42%, less than SPXS's 4.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
KORU Direxion Daily MSCI South Korea Bull 3X Shares | 0.42% | 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 | 4.52% | 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 -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KORU has higher volatility (70.60%) compared to SPXS (10.70%). In terms of maximum drawdown, KORU dropped -95.79% vs SPXS's -100.00%.
On 10-year performance, KORU leads with 4.90% vs -41.24% for SPXS. On fees, SPXS is cheaper at 1.08% per year. On volatility, SPXS has been the lower-risk option at 10.70%. 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 4.90% return vs -41.24%. 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 1.32% for KORU.
SPXS has the higher dividend yield at 4.52%, compared with 0.42% for KORU.
KORU is categorized as South Korea 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: 1.32% for KORU and 1.08% for SPXS.
KORU currently has the higher Sharpe Ratio (2.31 vs -1.09), 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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