MFTFX vs. SPXL
Compare and contrast key facts about Arrow Managed Futures Stragegy Fund (MFTFX) and Direxion Daily S&P 500 Bull 3X Shares (SPXL).
MFTFX is managed by Arrow Funds. It was launched on Apr 28, 2010. SPXL is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index (300%). It was launched on Nov 5, 2008.
Performance
MFTFX vs. SPXL - Performance Comparison
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MFTFX vs. SPXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MFTFX Arrow Managed Futures Stragegy Fund | 5.39% | 9.29% | 6.87% | -13.57% | 57.88% | 2.13% | -4.13% | 15.17% | -19.70% | 19.09% |
SPXL Direxion Daily S&P 500 Bull 3X Shares | -15.99% | 31.94% | 63.61% | 69.49% | -56.55% | 98.75% | 9.64% | 102.80% | -25.11% | 71.03% |
Returns By Period
In the year-to-date period, MFTFX achieves a 5.39% return, which is significantly higher than SPXL's -15.99% return. Over the past 10 years, MFTFX has underperformed SPXL with an annualized return of 5.15%, while SPXL has yielded a comparatively higher 25.32% annualized return.
MFTFX
- 1D
- 0.47%
- 1M
- -6.93%
- YTD
- 5.39%
- 6M
- 14.77%
- 1Y
- 21.93%
- 3Y*
- 6.88%
- 5Y*
- 10.71%
- 10Y*
- 5.15%
SPXL
- 1D
- 8.63%
- 1M
- -15.66%
- YTD
- -15.99%
- 6M
- -12.47%
- 1Y
- 32.76%
- 3Y*
- 37.47%
- 5Y*
- 16.98%
- 10Y*
- 25.32%
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MFTFX vs. SPXL - Expense Ratio Comparison
MFTFX has a 1.54% expense ratio, which is higher than SPXL's 1.02% expense ratio.
Return for Risk
MFTFX vs. SPXL — Risk / Return Rank
MFTFX
SPXL
MFTFX vs. SPXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Arrow Managed Futures Stragegy Fund (MFTFX) and Direxion Daily S&P 500 Bull 3X Shares (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.
| MFTFX | SPXL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.89 | 0.61 | +0.29 |
Sortino ratioReturn per unit of downside risk | 1.27 | 1.18 | +0.09 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.18 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.40 | 1.05 | +0.35 |
Martin ratioReturn relative to average drawdown | 2.86 | 4.21 | -1.35 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MFTFX | SPXL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 0.61 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.34 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.48 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.47 | -0.33 |
Correlation
The correlation between MFTFX and SPXL is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
MFTFX vs. SPXL - Dividend Comparison
MFTFX has not paid dividends to shareholders, while SPXL's dividend yield for the trailing twelve months is around 0.80%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MFTFX Arrow Managed Futures Stragegy Fund | 0.00% | 0.00% | 0.00% | 11.75% | 41.04% | 2.30% | 0.00% | 20.00% | 7.84% | 2.12% | 9.36% | 1.21% |
SPXL Direxion Daily S&P 500 Bull 3X Shares | 0.80% | 0.69% | 0.74% | 0.98% | 0.32% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% | 0.00% | 0.00% |
Drawdowns
MFTFX vs. SPXL - Drawdown Comparison
The maximum MFTFX drawdown since its inception was -35.70%, smaller than the maximum SPXL drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for MFTFX and SPXL.
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Drawdown Indicators
| MFTFX | SPXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.70% | -76.86% | +41.16% |
Max Drawdown (1Y)Largest decline over 1 year | -10.94% | -33.42% | +22.48% |
Max Drawdown (5Y)Largest decline over 5 years | -32.57% | -63.80% | +31.23% |
Max Drawdown (10Y)Largest decline over 10 years | -35.70% | -76.86% | +41.16% |
Current DrawdownCurrent decline from peak | -8.12% | -20.45% | +12.33% |
Average DrawdownAverage peak-to-trough decline | -17.15% | -15.85% | -1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.42% | 8.34% | -1.92% |
Volatility
MFTFX vs. SPXL - Volatility Comparison
The current volatility for Arrow Managed Futures Stragegy Fund (MFTFX) is 4.96%, while Direxion Daily S&P 500 Bull 3X Shares (SPXL) has a volatility of 15.89%. This indicates that MFTFX experiences smaller price fluctuations and is considered to be less risky than SPXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MFTFX | SPXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.96% | 15.89% | -10.93% |
Volatility (6M)Calculated over the trailing 6-month period | 15.24% | 28.45% | -13.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.16% | 54.30% | -33.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.09% | 50.27% | -28.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.13% | 53.37% | -31.24% |