MSFU vs. SPXL
Compare and contrast key facts about Direxion Daily MSFT Bull 2X Shares (MSFU) and Direxion Daily S&P 500 Bull 3X Shares (SPXL).
MSFU and SPXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSFU is a passively managed fund by Direxion that tracks the performance of the Microsoft Corporation (150%). It was launched on Sep 6, 2022. 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 MSFU 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.
Performance
MSFU vs. SPXL - Performance Comparison
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MSFU vs. SPXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MSFU Direxion Daily MSFT Bull 2X Shares | -44.20% | 13.36% | 5.80% | 83.04% | -13.28% |
SPXL Direxion Daily S&P 500 Bull 3X Shares | -15.99% | 31.94% | 63.61% | 69.49% | -16.49% |
Returns By Period
In the year-to-date period, MSFU achieves a -44.20% return, which is significantly lower than SPXL's -15.99% return.
MSFU
- 1D
- 6.23%
- 1M
- -12.32%
- YTD
- -44.20%
- 6M
- -52.96%
- 1Y
- -16.87%
- 3Y*
- -1.81%
- 5Y*
- —
- 10Y*
- —
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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MSFU vs. SPXL - Expense Ratio Comparison
MSFU has a 1.04% expense ratio, which is higher than SPXL's 1.02% expense ratio.
Return for Risk
MSFU vs. SPXL — Risk / Return Rank
MSFU
SPXL
MSFU vs. SPXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSFT Bull 2X Shares (MSFU) 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.
| MSFU | SPXL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.32 | 0.61 | -0.93 |
Sortino ratioReturn per unit of downside risk | -0.12 | 1.18 | -1.30 |
Omega ratioGain probability vs. loss probability | 0.98 | 1.18 | -0.19 |
Calmar ratioReturn relative to maximum drawdown | -0.31 | 1.05 | -1.36 |
Martin ratioReturn relative to average drawdown | -0.78 | 4.21 | -4.99 |
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
| MSFU | SPXL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.32 | 0.61 | -0.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.34 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.47 | -0.44 |
Correlation
The correlation between MSFU and SPXL is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MSFU vs. SPXL - Dividend Comparison
MSFU's dividend yield for the trailing twelve months is around 14.18%, more than SPXL's 0.80% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSFU Direxion Daily MSFT Bull 2X Shares | 14.18% | 8.15% | 7.00% | 2.11% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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% |
Drawdowns
MSFU vs. SPXL - Drawdown Comparison
The maximum MSFU drawdown since its inception was -59.83%, smaller than the maximum SPXL drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for MSFU and SPXL.
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Drawdown Indicators
| MSFU | SPXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.83% | -76.86% | +17.03% |
Max Drawdown (1Y)Largest decline over 1 year | -59.83% | -33.42% | -26.41% |
Max Drawdown (5Y)Largest decline over 5 years | — | -63.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -76.86% | — |
Current DrawdownCurrent decline from peak | -56.80% | -20.45% | -36.35% |
Average DrawdownAverage peak-to-trough decline | -15.00% | -15.85% | +0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.86% | 8.34% | +15.52% |
Volatility
MSFU vs. SPXL - Volatility Comparison
The current volatility for Direxion Daily MSFT Bull 2X Shares (MSFU) is 13.10%, while Direxion Daily S&P 500 Bull 3X Shares (SPXL) has a volatility of 15.89%. This indicates that MSFU 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
| MSFU | SPXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.10% | 15.89% | -2.79% |
Volatility (6M)Calculated over the trailing 6-month period | 39.28% | 28.45% | +10.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.78% | 54.30% | -1.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.15% | 50.27% | -5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.15% | 53.37% | -8.22% |