LOFF vs. SPXL
LOFF (Direxion Daily SpaceX Bull 2X ETF) and SPXL (Direxion Daily S&P 500 Bull 3X ETF) are both Leveraged Equities funds from Direxion. LOFF is actively managed, while SPXL is passively managed. At a 0.32 correlation, their price movements are largely independent. LOFF charges 0.97%/yr vs 0.84%/yr for SPXL.
Performance
LOFF vs. SPXL - Performance Comparison
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Returns By Period
LOFF
- 1D
- -5.94%
- 1M
- -47.69%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SPXL
- 1D
- 0.13%
- 1M
- 1.28%
- 6M
- 15.92%
- YTD
- 18.54%
- 1Y
- 40.62%
- 3Y*
- 40.35%
- 5Y*
- 18.63%
- 10Y*
- 28.01%
- ALL TIME*
- 27.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.23M | $19.42M | $33.43M | |
| $416.77M | $435.37M | $528.71M |
LOFF vs. SPXL - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
LOFF Direxion Daily SpaceX Bull 2X ETF | -60.77% |
SPXL Direxion Daily S&P 500 Bull 3X ETF | -2.01% |
Correlation
The correlation between LOFF and SPXL is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 15, 2026 | 0.32 |
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Return for Risk
LOFF vs. SPXL — Risk / Return Rank
LOFF
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPXL
LOFF vs. SPXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily SpaceX Bull 2X ETF (LOFF) 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.
| LOFF | SPXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.20 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.52 | — |
| Martin ratioReturn relative to average drawdown | — | 5.92 | — |
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Drawdowns
LOFF vs. SPXL - Drawdown Comparison
The maximum LOFF drawdown since its inception was -70.97%, smaller than the maximum SPXL drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for LOFF and SPXL.
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Drawdown Indicators
| LOFF | SPXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.97% | -76.86% | +5.89% |
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 | -70.97% | -9.42% | -61.55% |
Average DrawdownAverage peak-to-trough decline | -46.12% | -16.05% | -30.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.88% | — |
Volatility
LOFF vs. SPXL - Volatility Comparison
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Volatility by Period
| LOFF | SPXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.99% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 29.66% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 169.72% | 37.98% | +131.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 169.72% | 50.53% | +119.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 169.72% | 53.41% | +116.31% |
LOFF vs. SPXL - Expense Ratio Comparison
LOFF has a 0.97% expense ratio, which is higher than SPXL's 0.84% expense ratio.
Dividends
LOFF vs. SPXL - Dividend Comparison
LOFF's dividend yield for the trailing twelve months is around 0.09%, less than SPXL's 0.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
LOFF Direxion Daily SpaceX Bull 2X ETF | 0.09% | 0.00% | 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 | 0.55% | 0.69% | 0.74% | 0.98% | 0.32% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% |
Frequently Asked Questions
LOFF and SPXL have a correlation of 0.32, 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 0.97% for LOFF.
SPXL has the higher dividend yield at 0.55%, compared with 0.09% for LOFF.
Their fees differ too: 0.97% for LOFF and 0.84% for SPXL.
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