MIDU vs. SPXL
Compare and contrast key facts about Direxion Daily Mid Cap Bull 3X Shares (MIDU) and Direxion Daily S&P 500 Bull 3X Shares (SPXL).
MIDU and SPXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MIDU is a passively managed fund by Direxion that tracks the performance of the S&P MidCap 400 Index (300%). It was launched on Jan 8, 2009. 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. Both MIDU and SPXL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MIDU or SPXL.
Performance
MIDU vs. SPXL - Performance Comparison
Returns By Period
In the year-to-date period, MIDU achieves a 32.87% return, which is significantly lower than SPXL's 65.10% return. Over the past 10 years, MIDU has underperformed SPXL with an annualized return of 10.39%, while SPXL has yielded a comparatively higher 23.93% annualized return.
MIDU
32.87%
-0.19%
10.48%
76.97%
5.92%
10.39%
SPXL
65.10%
0.35%
26.23%
93.38%
24.06%
23.93%
Key characteristics
| MIDU | SPXL | |
|---|---|---|
| Sharpe Ratio | 1.48 | 2.59 |
| Sortino Ratio | 2.06 | 2.97 |
| Omega Ratio | 1.25 | 1.41 |
| Calmar Ratio | 1.28 | 2.45 |
| Martin Ratio | 7.52 | 15.50 |
| Ulcer Index | 9.41% | 6.05% |
| Daily Std Dev | 47.79% | 36.21% |
| Max Drawdown | -86.26% | -76.86% |
| Current Drawdown | -20.96% | -6.65% |
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MIDU vs. SPXL - Expense Ratio Comparison
MIDU has a 1.06% expense ratio, which is higher than SPXL's 1.02% expense ratio.
Correlation
The correlation between MIDU and SPXL is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
MIDU vs. SPXL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Mid Cap Bull 3X Shares (MIDU) 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.
Dividends
MIDU vs. SPXL - Dividend Comparison
MIDU's dividend yield for the trailing twelve months is around 1.24%, more than SPXL's 0.72% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIDU Direxion Daily Mid Cap Bull 3X Shares | 1.24% | 1.43% | 0.11% | 0.00% | 0.05% | 0.71% | 0.70% | 2.67% | 1.89% | 0.00% | 0.00% | 3.91% |
SPXL Direxion Daily S&P 500 Bull 3X Shares | 0.72% | 0.98% | 0.33% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
MIDU vs. SPXL - Drawdown Comparison
The maximum MIDU drawdown since its inception was -86.26%, which is greater than SPXL's maximum drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for MIDU and SPXL. For additional features, visit the drawdowns tool.
Volatility
MIDU vs. SPXL - Volatility Comparison
Direxion Daily Mid Cap Bull 3X Shares (MIDU) has a higher volatility of 16.14% compared to Direxion Daily S&P 500 Bull 3X Shares (SPXL) at 12.23%. This indicates that MIDU's price experiences larger fluctuations and is considered to be riskier than SPXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.