LQQ.PA vs. SPUU

Last updated Jun 16, 2026

LQQ.PA (Lyxor UCITS NASDAQ-100 Daily Leverage) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both exchange-traded funds - LQQ.PA is a Nasdaq-100 fund tracking the Nasdaq 100® Leverage (2x) index, while SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily). Both are passively managed. Over the past 3 years, LQQ.PA returned 42.81%/yr vs 32.79%/yr for SPUU. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

LQQ.PA vs. SPUU - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Lyxor UCITS NASDAQ-100 Daily Leverage (LQQ.PA) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

LQQ.PA is traded in EUR, while SPUU is traded in USD. To make them comparable, the SPUU values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, LQQ.PA achieves a 40.35% return, which is significantly higher than SPUU's 21.01% return.

LQQ.PA

• 1D: 5.42%
• 1M: 8.04%
• YTD: 40.35%
• 6M: 42.90%
• 1Y: 81.16%
• 3Y*: 42.81%
• 5Y*: —
• 10Y*: —

SPUU

• 1D: 3.13%
• 1M: 3.96%
• YTD: 21.01%
• 6M: 21.64%
• 1Y: 52.33%
• 3Y*: 32.79%
• 5Y*: 20.96%
• 10Y*: 24.70%

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

LQQ.PA vs. SPUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LQQ.PA Lyxor UCITS NASDAQ-100 Daily Leverage	40.35%	14.16%	57.00%	75.85%
SPUU Direxion Daily S&P 500 Bull 2X ETF	21.01%	11.53%	53.77%	36.62%

Correlation

The correlation between LQQ.PA and SPUU is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (All Time) Calculated using the full available price history since Mar 10, 2023	0.57

The correlation between LQQ.PA and SPUU has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.

Return for Risk

LQQ.PA vs. SPUU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LQQ.PA

LQQ.PA Risk / Return Rank: 76
LQQ.PA Sharpe Ratio Rank: 86
LQQ.PA Sortino Ratio Rank: 76
LQQ.PA Omega Ratio Rank: 75
LQQ.PA Calmar Ratio Rank: 78
LQQ.PA Martin Ratio Rank: 67

SPUU

SPUU Risk / Return Rank: 69
SPUU Sharpe Ratio Rank: 74
SPUU Sortino Ratio Rank: 65
SPUU Omega Ratio Rank: 67
SPUU Calmar Ratio Rank: 64
SPUU Martin Ratio Rank: 74

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.

LQQ.PA vs. SPUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor UCITS NASDAQ-100 Daily Leverage (LQQ.PA) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). 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.

	LQQ.PA	SPUU	Difference
Sharpe ratio: Return per unit of total volatility	2.50	2.17	+0.33
Sortino ratio: Return per unit of downside risk	3.08	2.66	+0.41
Omega ratio: Gain probability vs. loss probability	1.40	1.37	+0.03
Calmar ratio: Return relative to maximum drawdown	3.65	3.14	+0.51
Martin ratio: Return relative to average drawdown	11.21	12.72	-1.52

LQQ.PA vs. SPUU - Sharpe Ratio Comparison

The current LQQ.PA Sharpe Ratio is 2.50, which is comparable to the SPUU Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of LQQ.PA and SPUU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LQQ.PA vs. SPUU - Drawdown Comparison

The maximum LQQ.PA drawdown since its inception was -44.66%, smaller than the maximum SPUU drawdown of -59.04%. Use the drawdown chart below to compare losses from any high point for LQQ.PA and SPUU.

Drawdown Indicators

	LQQ.PA	SPUU	Difference
Max Drawdown Largest peak-to-trough decline	-44.66%	-59.04%	+14.38%
Max Drawdown (1Y) Largest decline over 1 year	-21.88%	-16.74%	-5.14%
Max Drawdown (3Y) Largest decline over 3 years	-44.66%	-38.33%	-6.33%
Max Drawdown (5Y) Largest decline over 5 years	—	-38.82%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-59.04%	—
Current Drawdown Current decline from peak	-1.10%	-1.28%	+0.18%
Average Drawdown Average peak-to-trough decline	-7.19%	-9.46%	+2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.17%	4.13%	+3.04%

Volatility

LQQ.PA vs. SPUU - Volatility Comparison

Lyxor UCITS NASDAQ-100 Daily Leverage (LQQ.PA) has a higher volatility of 12.35% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 8.24%. This indicates that LQQ.PA's price experiences larger fluctuations and is considered to be riskier than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LQQ.PA	SPUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.35%	8.24%	+4.11%
Volatility (6M) Calculated over the trailing 6-month period	24.49%	18.64%	+5.85%
Volatility (1Y) Calculated over the trailing 1-year period	32.04%	24.26%	+7.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.49%	32.57%	+2.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.49%	35.61%	-0.12%

LQQ.PA vs. SPUU - Expense Ratio Comparison

Both LQQ.PA and SPUU have an expense ratio of 0.60%.

Dividends

LQQ.PA vs. SPUU - Dividend Comparison

LQQ.PA has not paid dividends to shareholders, while SPUU's dividend yield for the trailing twelve months is around 1.34%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LQQ.PA Lyxor UCITS NASDAQ-100 Daily Leverage	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPUU Direxion Daily S&P 500 Bull 2X ETF	1.34%	1.63%	0.55%	0.83%	0.88%	3.04%	8.03%	1.80%	5.50%	6.96%	8.08%	4.42%

Frequently Asked Questions

Can I hold both LQQ.PA and SPUU in my portfolio?

LQQ.PA and SPUU have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LQQ.PA or SPUU?

Both ETFs have the same 0.60% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LQQ.PA or SPUU?

LQQ.PA and SPUU have the same expense ratio: 0.60% per year.

What is the main difference between LQQ.PA and SPUU?

LQQ.PA is categorized as Nasdaq-100, while SPUU is Leveraged Equities. LQQ.PA tracks Nasdaq 100® Leverage (2x) index, while SPUU tracks S&P 500 Index (200% Daily). They also come from different issuers: Amundi and Direxion.