MEXX vs. PLUL

Last updated Aug 5, 2026

MEXX (Direxion Daily MSCI Mexico Bull 3X Shares) and PLUL (Leverage Shares 2X Long PLUG Daily ETF) are both Leveraged Equities funds - MEXX tracks the MSCI Mexico IMI 25-50 Net Total Return USD Index (300%) while PLUL tracks the Plug Power Inc. (PLUG). Both are passively managed. Their 0.33 correlation means their historical movements had little consistent relationship. MEXX charges 1.21%/yr vs 0.75%/yr for PLUL.

Performance

MEXX vs. PLUL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) and Leverage Shares 2X Long PLUG Daily ETF (PLUL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MEXX

• 1D: 1.77%
• 1M: 4.39%
• 6M: -14.98%
• YTD: 20.88%
• 1Y: 90.68%
• 3Y*: 2.34%
• 5Y*: 13.32%
• 10Y*: —
• ALL TIME*: -5.35%

PLUL

• 1D: 7.36%
• 1M: -36.40%
• 6M: -33.31%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MEXX Direxion Daily MSCI Mexico Bull 3X Shares	$356.64K	$322.08K	$550.62K
PLUL Leverage Shares 2X Long PLUG Daily ETF	$205.26K	$288.38K	$1.33M

MEXX vs. PLUL - Yearly Performance Comparison

	2026 (YTD)
MEXX Direxion Daily MSCI Mexico Bull 3X Shares	8.37%
PLUL Leverage Shares 2X Long PLUG Daily ETF	-45.49%

Correlation

The correlation between MEXX and PLUL is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	0.33

Return for Risk

MEXX vs. PLUL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MEXX

MEXX Risk / Return Rank: 50
MEXX Sharpe Ratio Rank: 50
MEXX Sortino Ratio Rank: 48
MEXX Omega Ratio Rank: 47
MEXX Calmar Ratio Rank: 59
MEXX Martin Ratio Rank: 46

PLUL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MEXX vs. PLUL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) and Leverage Shares 2X Long PLUG Daily ETF (PLUL). 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.

	MEXX	PLUL	Difference
Sharpe ratio: Return per unit of total volatility	1.40	—	—
Sortino ratio: Return per unit of downside risk	1.97	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	2.35	—	—
Martin ratio: Return relative to average drawdown	5.72	—	—

Drawdowns

MEXX vs. PLUL - Drawdown Comparison

The maximum MEXX drawdown since its inception was -95.58%, which is greater than PLUL's maximum drawdown of -81.17%. Use the drawdown chart below to compare losses from any high point for MEXX and PLUL.

Drawdown Indicators

	MEXX	PLUL	Difference
Max Drawdown Largest peak-to-trough decline	-95.58%	-81.17%	-14.41%
Max Drawdown (1Y) Largest decline over 1 year	-38.77%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-74.92%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-74.92%	—	—
Current Drawdown Current decline from peak	-56.03%	-75.91%	+19.88%
Average Drawdown Average peak-to-trough decline	-65.37%	-36.22%	-29.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.90%	—	—

Volatility

Volatility by Period

	MEXX	PLUL	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.88%	—	—
Volatility (6M) Calculated over the trailing 6-month period	53.04%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	64.99%	174.72%	-109.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.99%	174.72%	-107.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.18%	174.72%	-100.54%

MEXX vs. PLUL - Expense Ratio Comparison

MEXX has a 1.21% expense ratio, which is higher than PLUL's 0.75% expense ratio.

Dividends

MEXX vs. PLUL - Dividend Comparison

MEXX's dividend yield for the trailing twelve months is around 1.39%, while PLUL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MEXX Direxion Daily MSCI Mexico Bull 3X Shares	1.39%	1.60%	5.81%	1.66%	1.33%	0.63%	0.12%	1.60%	5.61%	0.27%
PLUL Leverage Shares 2X Long PLUG Daily ETF	0.00%	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 MEXX and PLUL in my portfolio?

MEXX and PLUL have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MEXX or PLUL?

On fees, PLUL is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MEXX or PLUL?

PLUL is cheaper with a 0.75% expense ratio, compared with 1.21% for MEXX.

Which ETF pays a higher dividend yield, MEXX or PLUL?

MEXX has the higher dividend yield at 1.39%, compared with 0.00% for PLUL.

What is the main difference between MEXX and PLUL?

MEXX tracks MSCI Mexico IMI 25-50 Net Total Return USD Index (300%), while PLUL tracks Plug Power Inc. (PLUG). They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.21% for MEXX and 0.75% for PLUL.