MIDU vs. SPY
Compare and contrast key facts about Direxion Daily Mid Cap Bull 3X Shares (MIDU) and SPDR S&P 500 ETF (SPY).
MIDU and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both MIDU and SPY 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 SPY.
Performance
MIDU vs. SPY - Performance Comparison
Returns By Period
In the year-to-date period, MIDU achieves a 33.74% return, which is significantly higher than SPY's 25.36% return. Over the past 10 years, MIDU has underperformed SPY with an annualized return of 10.26%, while SPY has yielded a comparatively higher 13.07% annualized return.
MIDU
33.74%
0.05%
11.34%
71.48%
6.71%
10.26%
SPY
25.36%
0.98%
11.79%
31.70%
15.55%
13.07%
Key characteristics
| MIDU | SPY | |
|---|---|---|
| Sharpe Ratio | 1.54 | 2.69 |
| Sortino Ratio | 2.12 | 3.59 |
| Omega Ratio | 1.26 | 1.50 |
| Calmar Ratio | 1.35 | 3.89 |
| Martin Ratio | 7.76 | 17.53 |
| Ulcer Index | 9.46% | 1.87% |
| Daily Std Dev | 47.58% | 12.15% |
| Max Drawdown | -86.26% | -55.19% |
| Current Drawdown | -20.45% | -1.41% |
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MIDU vs. SPY - Expense Ratio Comparison
MIDU has a 1.06% expense ratio, which is higher than SPY's 0.09% expense ratio.
Correlation
The correlation between MIDU and SPY is 0.89, 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. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Mid Cap Bull 3X Shares (MIDU) and SPDR S&P 500 ETF (SPY). 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. SPY - Dividend Comparison
MIDU's dividend yield for the trailing twelve months is around 1.23%, more than SPY's 1.19% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIDU Direxion Daily Mid Cap Bull 3X Shares | 1.23% | 1.43% | 0.11% | 0.00% | 0.05% | 0.71% | 0.70% | 2.67% | 1.89% | 0.00% | 0.00% | 3.91% |
SPY SPDR S&P 500 ETF | 1.19% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
MIDU vs. SPY - Drawdown Comparison
The maximum MIDU drawdown since its inception was -86.26%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for MIDU and SPY. For additional features, visit the drawdowns tool.
Volatility
MIDU vs. SPY - Volatility Comparison
Direxion Daily Mid Cap Bull 3X Shares (MIDU) has a higher volatility of 15.72% compared to SPDR S&P 500 ETF (SPY) at 4.09%. This indicates that MIDU's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.