KORU vs. SPY

Last updated Jun 4, 2026

KORU (Direxion Daily South Korea Bull 3X Shares) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - KORU is a Leveraged Equities fund tracking the MSCI Korea 25-50 Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, KORU returned 19.62%/yr vs 15.49%/yr for SPY. A 0.59 correlation means they provide meaningful diversification when combined. KORU charges 1.29%/yr vs 0.09%/yr for SPY.

Performance

KORU vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily South Korea Bull 3X Shares (KORU) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KORU achieves a 559.14% return, which is significantly higher than SPY's 10.91% return. Over the past 10 years, KORU has outperformed SPY with an annualized return of 19.62%, while SPY has yielded a comparatively lower 15.49% annualized return.

KORU

• 1D: -2.29%
• 1M: 92.47%
• YTD: 559.14%
• 6M: 689.29%
• 1Y: 2,160.10%
• 3Y*: 132.56%
• 5Y*: 23.42%
• 10Y*: 19.62%

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

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

KORU vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KORU Direxion Daily South Korea Bull 3X Shares	559.14%	432.73%	-62.18%	28.61%	-70.16%	-33.86%	48.78%	5.47%	-59.89%	167.08%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

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

KORU vs. SPY - Sectors Allocation Comparison

Sectors	KORU	SPY
Technology	52.3%	35.9%
Industrials	20.4%	7.8%
Financial Services	16.7%	11.8%
Consumer Cyclical	5.8%	10.3%
Healthcare	3.5%	8.4%
Communication Services	2.9%	11.3%
Basic Materials	2.0%	1.8%
Consumer Defensive	1.8%	4.8%
Energy	1.4%	3.6%
Utilities	0.4%	2.4%
Real Estate	-	1.9%

Return for Risk

KORU vs. SPY — 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: 95
KORU Omega Ratio Rank: 95
KORU Calmar Ratio Rank: 99
KORU Martin Ratio Rank: 99

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

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. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily South Korea Bull 3X Shares (KORU) and State Street SPDR S&P 500 ETF (SPY). 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	SPY	Difference
Sharpe ratio: Return per unit of total volatility	17.63	2.38	+15.25
Sortino ratio: Return per unit of downside risk	5.20	3.24	+1.96
Omega ratio: Gain probability vs. loss probability	1.72	1.43	+0.29
Calmar ratio: Return relative to maximum drawdown	35.65	3.16	+32.48
Martin ratio: Return relative to average drawdown	112.99	14.72	+98.28
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. SPY - Sharpe Ratio Comparison

The current KORU Sharpe Ratio is 17.63, which is higher than the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of KORU and SPY, 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	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	17.63	2.38	+15.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.82	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	0.87	-0.62
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.59	-0.46

Drawdowns

KORU vs. SPY - Drawdown Comparison

The maximum KORU drawdown since its inception was -95.79%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for KORU and SPY.

Drawdown Indicators

	KORU	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-95.79%	-55.19%	-40.60%
Max Drawdown (1Y) Largest decline over 1 year	-61.39%	-8.88%	-52.51%
Max Drawdown (3Y) Largest decline over 3 years	-73.71%	-18.76%	-54.95%
Max Drawdown (5Y) Largest decline over 5 years	-93.35%	-24.50%	-68.85%
Max Drawdown (10Y) Largest decline over 10 years	-95.79%	-33.72%	-62.07%
Current Drawdown Current decline from peak	-5.39%	-0.70%	-4.69%
Average Drawdown Average peak-to-trough decline	-57.53%	-9.05%	-48.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.33%	1.91%	+17.42%

Volatility

KORU vs. SPY - Volatility Comparison

Direxion Daily South Korea Bull 3X Shares (KORU) has a higher volatility of 60.18% compared to State Street SPDR S&P 500 ETF (SPY) at 2.84%. This indicates that KORU's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KORU	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	60.18%	2.84%	+57.34%
Volatility (6M) Calculated over the trailing 6-month period	110.71%	8.90%	+101.81%
Volatility (1Y) Calculated over the trailing 1-year period	124.15%	11.83%	+112.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	85.11%	17.05%	+68.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.91%	17.94%	+61.97%

KORU vs. SPY - Expense Ratio Comparison

KORU has a 1.29% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

KORU vs. SPY - Dividend Comparison

KORU's dividend yield for the trailing twelve months is around 0.14%, less than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KORU Direxion Daily South Korea Bull 3X Shares	0.14%	0.89%	4.10%	2.55%	0.48%	0.76%	0.01%	0.93%	1.40%	3.59%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	0.98%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both KORU and SPY in my portfolio?

KORU and SPY 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 SPY?

KORU has higher volatility (60.18%) compared to SPY (2.84%). In terms of maximum drawdown, KORU dropped -95.79% vs SPY's -55.19%.

Which ETF is better, KORU or SPY?

On 10-year performance, KORU leads with 19.62% vs 15.49% for SPY. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KORU or SPY?

Over the 10-year period, KORU has performed better with a 19.62% return vs 15.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KORU or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 1.29% for KORU.

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

SPY has the higher dividend yield at 0.98%, compared with 0.14% for KORU.

What is the main difference between KORU and SPY?

KORU is categorized as Leveraged Equities, while SPY is S&P 500. KORU tracks MSCI Korea 25-50 Index, while SPY tracks S&P 500 Index. They also come from different issuers: Direxion and State Street. Their fees differ too: 1.29% for KORU and 0.09% for SPY.

Which has better risk-adjusted returns?

KORU currently has the higher Sharpe Ratio (17.63 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.