MINT vs. SPDN
MINT (PIMCO Enhanced Short Maturity Active ETF) and SPDN (Direxion Daily S&P 500 Bear 1x Shares) are both exchange-traded funds - MINT is a Ultrashort Bond fund actively managed by PIMCO, while SPDN is a Inverse Equities fund tracking the S&P 500 Index. MINT is actively managed, while SPDN is passively managed. Over the past 10 years, MINT returned 2.71%/yr vs -12.43%/yr for SPDN. At a correlation of -0.04, they often move in opposite directions. MINT charges 0.36%/yr vs 0.50%/yr for SPDN.
Performance
MINT vs. SPDN - Performance Comparison
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Returns By Period
In the year-to-date period, MINT achieves a 1.86% return, which is significantly higher than SPDN's -5.89% return. Over the past 10 years, MINT has outperformed SPDN with an annualized return of 2.71%, while SPDN has yielded a comparatively lower -12.43% annualized return.
MINT
- 1D
- 0.01%
- 1M
- 0.35%
- YTD
- 1.86%
- 6M
- 2.21%
- 1Y
- 4.65%
- 3Y*
- 5.38%
- 5Y*
- 3.48%
- 10Y*
- 2.71%
SPDN
- 1D
- -0.11%
- 1M
- 0.11%
- YTD
- -5.89%
- 6M
- -5.63%
- 1Y
- -14.82%
- 3Y*
- -12.12%
- 5Y*
- -8.55%
- 10Y*
- -12.43%
MINT vs. SPDN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MINT PIMCO Enhanced Short Maturity Active ETF | 1.86% | 4.74% | 5.94% | 6.26% | -1.01% | -0.03% | 1.62% | 3.34% | 1.72% | 1.86% |
SPDN Direxion Daily S&P 500 Bear 1x Shares | -5.89% | -11.09% | -12.88% | -15.04% | 18.63% | -23.72% | -24.56% | -21.94% | 5.41% | -17.16% |
Correlation
The correlation between MINT and SPDN is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 8, 2016 | -0.04 |
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Return for Risk
MINT vs. SPDN — Risk / Return Rank
MINT
SPDN
MINT vs. SPDN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Enhanced Short Maturity Active ETF (MINT) and Direxion Daily S&P 500 Bear 1x Shares (SPDN). 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.
| MINT | SPDN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +18.35 | ||
| Sortino ratioReturn per unit of downside risk | +66.99 | ||
| Omega ratioGain probability vs. loss probability | 20.44 | 0.81 | +19.63 |
| Calmar ratioReturn relative to maximum drawdown | 93.88 | -0.84 | +94.72 |
| Martin ratioReturn relative to average drawdown | 935.03 | -1.53 | +936.56 |
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
| MINT | SPDN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 17.14 | -1.21 | +18.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 6.01 | -0.51 | +6.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.88 | -0.69 | +3.57 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.47 | -0.69 | +3.15 |
Drawdowns
MINT vs. SPDN - Drawdown Comparison
The maximum MINT drawdown since its inception was -4.62%, smaller than the maximum SPDN drawdown of -75.31%. Use the drawdown chart below to compare losses from any high point for MINT and SPDN.
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Drawdown Indicators
| MINT | SPDN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.62% | -75.31% | +70.69% |
Max Drawdown (1Y)Largest decline over 1 year | -0.05% | -17.73% | +17.68% |
Max Drawdown (3Y)Largest decline over 3 years | -0.16% | -38.24% | +38.08% |
Max Drawdown (5Y)Largest decline over 5 years | -2.42% | -43.85% | +41.43% |
Max Drawdown (10Y)Largest decline over 10 years | -4.62% | -75.31% | +70.69% |
Current DrawdownCurrent decline from peak | 0.00% | -74.65% | +74.65% |
Average DrawdownAverage peak-to-trough decline | -0.17% | -48.57% | +48.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 9.71% | -9.71% |
Volatility
MINT vs. SPDN - Volatility Comparison
The current volatility for PIMCO Enhanced Short Maturity Active ETF (MINT) is 0.09%, while Direxion Daily S&P 500 Bear 1x Shares (SPDN) has a volatility of 3.55%. This indicates that MINT experiences smaller price fluctuations and is considered to be less risky than SPDN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MINT | SPDN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 3.55% | -3.46% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 9.44% | -9.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.27% | 12.33% | -12.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 16.90% | -16.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.95% | 18.05% | -17.10% |
MINT vs. SPDN - Expense Ratio Comparison
MINT has a 0.36% expense ratio, which is lower than SPDN's 0.50% expense ratio.
Dividends
MINT vs. SPDN - Dividend Comparison
MINT's dividend yield for the trailing twelve months is around 4.28%, more than SPDN's 4.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MINT PIMCO Enhanced Short Maturity Active ETF | 4.28% | 4.63% | 5.22% | 4.91% | 1.90% | 0.44% | 1.15% | 2.65% | 2.32% | 1.61% | 1.35% | 0.88% |
SPDN Direxion Daily S&P 500 Bear 1x Shares | 4.01% | 4.06% | 5.32% | 5.84% | 0.96% | 0.00% | 0.10% | 1.89% | 1.24% | 0.42% | 0.00% | 0.00% |
Frequently Asked Questions
MINT and SPDN have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPDN has higher volatility (3.55%) compared to MINT (0.09%). In terms of maximum drawdown, MINT dropped -4.62% vs SPDN's -75.31%.
On 10-year performance, MINT leads with 2.71% vs -12.43% for SPDN. On fees, MINT is cheaper at 0.36% per year. On volatility, MINT has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MINT has performed better with a 2.71% return vs -12.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MINT is cheaper with a 0.36% expense ratio, compared with 0.50% for SPDN.
MINT has the higher dividend yield at 4.28%, compared with 4.01% for SPDN.
MINT is categorized as Ultrashort Bond, while SPDN is Inverse Equities. They also come from different issuers: PIMCO and Direxion. Their fees differ too: 0.36% for MINT and 0.50% for SPDN.
MINT currently has the higher Sharpe Ratio (17.14 vs -1.21), 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.
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