LMTL vs. SPXL
LMTL (Direxion Daily LMT Bull 2X ETF) and SPXL (Direxion Daily S&P 500 Bull 3X ETF) are both Leveraged Equities funds from Direxion. LMTL is actively managed, while SPXL is passively managed. At a 0.05 correlation, their price movements are largely independent. LMTL charges 1.07%/yr vs 0.84%/yr for SPXL.
Performance
LMTL vs. SPXL - Performance Comparison
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Returns By Period
In the year-to-date period, LMTL achieves a 7.80% return, which is significantly lower than SPXL's 27.09% return.
LMTL
- 1D
- 1.99%
- 1M
- -7.59%
- 6M
- -13.45%
- YTD
- 7.80%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXL
- 1D
- 1.23%
- 1M
- 6.67%
- 6M
- 20.95%
- YTD
- 27.09%
- 1Y
- 58.26%
- 3Y*
- 47.56%
- 5Y*
- 20.97%
- 10Y*
- 29.22%
LMTL vs. SPXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
LMTL Direxion Daily LMT Bull 2X ETF | 7.80% | 20.96% |
SPXL Direxion Daily S&P 500 Bull 3X ETF | 27.09% | 22.93% |
Correlation
The correlation between LMTL and SPXL is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 6, 2025 | 0.05 |
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Return for Risk
LMTL vs. SPXL — Risk / Return Rank
LMTL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPXL
LMTL vs. SPXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily LMT Bull 2X ETF (LMTL) 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.
| LMTL | SPXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.26 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.12 | — |
| Martin ratioReturn relative to average drawdown | — | 8.38 | — |
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Drawdowns
LMTL vs. SPXL - Drawdown Comparison
The maximum LMTL drawdown since its inception was -49.46%, smaller than the maximum SPXL drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for LMTL and SPXL.
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Drawdown Indicators
| LMTL | SPXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.46% | -76.86% | +27.40% |
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 DrawdownCurrent decline from peak | -43.43% | -2.88% | -40.55% |
Average DrawdownAverage peak-to-trough decline | -16.69% | -16.07% | -0.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.75% | — |
Volatility
LMTL vs. SPXL - Volatility Comparison
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Volatility by Period
| LMTL | SPXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 13.54% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 29.97% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 51.11% | 37.59% | +13.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.11% | 50.57% | +0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.11% | 53.38% | -2.27% |
LMTL vs. SPXL - Expense Ratio Comparison
LMTL has a 1.07% expense ratio, which is higher than SPXL's 0.84% expense ratio.
Dividends
LMTL vs. SPXL - Dividend Comparison
LMTL's dividend yield for the trailing twelve months is around 4.23%, more than SPXL's 0.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
LMTL Direxion Daily LMT Bull 2X ETF | 4.23% | 3.18% | 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 | 0.51% | 0.69% | 0.74% | 0.98% | 0.32% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% |
Frequently Asked Questions
LMTL and SPXL have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXL is cheaper at 0.84% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXL is cheaper with a 0.84% expense ratio, compared with 1.07% for LMTL.
LMTL has the higher dividend yield at 4.23%, compared with 0.51% for SPXL.
Their fees differ too: 1.07% for LMTL and 0.84% for SPXL.
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