MAGX vs. KCE

Last updated Jun 13, 2026

MAGX (Roundhill Daily 2X Long Magnificent Seven ETF) and KCE (SPDR S&P Capital Markets ETF) are both exchange-traded funds - MAGX is a Leveraged Equities fund actively managed by Roundhill, while KCE is a Financials Equities fund tracking the S&P Capital Markets Select Industry Index. MAGX is actively managed, while KCE is passively managed. Over the past year, MAGX returned 33.21% vs 14.27% for KCE. At a 0.47 correlation, their price movements are largely independent. MAGX charges 0.95%/yr vs 0.35%/yr for KCE.

Performance

MAGX vs. KCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) and SPDR S&P Capital Markets ETF (KCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAGX achieves a -8.69% return, which is significantly lower than KCE's 3.66% return.

MAGX

• 1D: -0.27%
• 1M: -16.06%
• YTD: -8.69%
• 6M: -7.45%
• 1Y: 33.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KCE

• 1D: 1.60%
• 1M: 1.26%
• YTD: 3.66%
• 6M: 2.73%
• 1Y: 14.27%
• 3Y*: 24.58%
• 5Y*: 12.87%
• 10Y*: 17.65%

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

MAGX vs. KCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	-8.69%	26.16%	82.41%
KCE SPDR S&P Capital Markets ETF	3.66%	10.76%	32.96%

Correlation

The correlation between MAGX and KCE is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	0.47

MAGX vs. KCE - Sectors Allocation Comparison

Sectors	MAGX	KCE
Financial Services	25.0%	98.5%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	1.5%
Utilities	-	-

Return for Risk

MAGX vs. KCE — Risk / Return Rank

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

MAGX

MAGX Risk / Return Rank: 25
MAGX Sharpe Ratio Rank: 26
MAGX Sortino Ratio Rank: 26
MAGX Omega Ratio Rank: 26
MAGX Calmar Ratio Rank: 22
MAGX Martin Ratio Rank: 23

KCE

KCE Risk / Return Rank: 22
KCE Sharpe Ratio Rank: 23
KCE Sortino Ratio Rank: 22
KCE Omega Ratio Rank: 22
KCE Calmar Ratio Rank: 21
KCE Martin Ratio Rank: 20

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.

MAGX vs. KCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) and SPDR S&P Capital Markets ETF (KCE). 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.

	MAGX	KCE	Difference
Sharpe ratio: Return per unit of total volatility	0.82	0.71	+0.11
Sortino ratio: Return per unit of downside risk	1.29	1.08	+0.21
Omega ratio: Gain probability vs. loss probability	1.16	1.13	+0.03
Calmar ratio: Return relative to maximum drawdown	0.90	0.82	+0.07
Martin ratio: Return relative to average drawdown	2.70	2.14	+0.56

MAGX vs. KCE - Sharpe Ratio Comparison

The current MAGX Sharpe Ratio is 0.82, which is comparable to the KCE Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of MAGX and KCE, 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

MAGX vs. KCE - Drawdown Comparison

The maximum MAGX drawdown since its inception was -54.19%, smaller than the maximum KCE drawdown of -74.00%. Use the drawdown chart below to compare losses from any high point for MAGX and KCE.

Drawdown Indicators

	MAGX	KCE	Difference
Max Drawdown Largest peak-to-trough decline	-54.19%	-74.00%	+19.81%
Max Drawdown (1Y) Largest decline over 1 year	-37.24%	-17.44%	-19.80%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.31%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.45%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.78%	—
Current Drawdown Current decline from peak	-16.77%	-3.75%	-13.02%
Average Drawdown Average peak-to-trough decline	-13.76%	-22.78%	+9.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.32%	6.70%	+5.62%

Volatility

MAGX vs. KCE - Volatility Comparison

Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) has a higher volatility of 12.35% compared to SPDR S&P Capital Markets ETF (KCE) at 6.04%. This indicates that MAGX's price experiences larger fluctuations and is considered to be riskier than KCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAGX	KCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.35%	6.04%	+6.31%
Volatility (6M) Calculated over the trailing 6-month period	30.63%	15.31%	+15.32%
Volatility (1Y) Calculated over the trailing 1-year period	40.70%	20.12%	+20.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.61%	23.08%	+30.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.61%	23.10%	+30.51%

MAGX vs. KCE - Expense Ratio Comparison

MAGX has a 0.95% expense ratio, which is higher than KCE's 0.35% expense ratio.

Dividends

MAGX vs. KCE - Dividend Comparison

MAGX's dividend yield for the trailing twelve months is around 2.24%, more than KCE's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KCE SPDR S&P Capital Markets ETF	1.67%	1.63%	1.56%	1.82%	2.42%	1.53%	2.20%	2.32%	2.67%	1.95%	2.30%	2.43%
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	2.24%	2.05%	0.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAGX and KCE in my portfolio?

MAGX and KCE have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAGX or KCE?

MAGX has higher volatility (12.35%) compared to KCE (6.04%). In terms of maximum drawdown, MAGX dropped -54.19% vs KCE's -74.00%.

Which ETF is better, MAGX or KCE?

On 1-year performance, MAGX leads with 33.21% vs 14.27% for KCE. On fees, KCE is cheaper at 0.35% per year. On volatility, KCE has been the lower-risk option at 6.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGX or KCE?

Over the 1-year period, MAGX has performed better with a 33.21% return vs 14.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGX or KCE?

KCE is cheaper with a 0.35% expense ratio, compared with 0.95% for MAGX.

Which ETF pays a higher dividend yield, MAGX or KCE?

MAGX has the higher dividend yield at 2.24%, compared with 1.67% for KCE.

What is the main difference between MAGX and KCE?

MAGX is categorized as Leveraged Equities, while KCE is Financials Equities. They also come from different issuers: Roundhill and State Street. Their fees differ too: 0.95% for MAGX and 0.35% for KCE.

Which has better risk-adjusted returns?

MAGX currently has the higher Sharpe Ratio (0.82 vs 0.71), 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.