NVDU vs. SWPPX

Last updated Jun 24, 2026

NVDU (Direxion Daily NVDA Bull 2X Shares ETF) and SWPPX (Schwab S&P 500 Index Fund) are both funds - NVDU is a Leveraged Equities fund actively managed by Direxion, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. NVDU is actively managed, while SWPPX is passively managed. Over the past year, NVDU returned 51.92% vs 25.48% for SWPPX. A 0.63 correlation means they provide meaningful diversification when combined. NVDU charges 1.04%/yr vs 0.02%/yr for SWPPX.

Performance

NVDU vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NVDA Bull 2X Shares ETF (NVDU) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVDU achieves a 2.08% return, which is significantly lower than SWPPX's 9.75% return.

NVDU

• 1D: -8.71%
• 1M: -16.05%
• YTD: 2.08%
• 6M: -1.18%
• 1Y: 51.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SWPPX

• 1D: -0.36%
• 1M: 0.10%
• YTD: 9.75%
• 6M: 8.76%
• 1Y: 25.48%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NVDU vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVDU Direxion Daily NVDA Bull 2X Shares ETF	2.08%	33.65%	289.29%	12.08%
SWPPX Schwab S&P 500 Index Fund	9.75%	17.87%	24.96%	7.41%

Correlation

The correlation between NVDU and SWPPX is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.63

The correlation between NVDU and SWPPX has been stable across timeframes, ranging from 0.59 to 0.63 - a consistent structural relationship.

NVDU vs. SWPPX - Sectors Allocation Comparison

Sectors	NVDU	SWPPX
Technology	100.0%	39.0%
Basic Materials	-	1.7%
Communication Services	-	10.6%
Consumer Cyclical	-	9.9%
Consumer Defensive	-	4.5%
Energy	-	3.1%
Financial Services	-	11.1%
Healthcare	-	8.3%
Industrials	-	7.8%
Real Estate	-	1.8%
Utilities	-	2.1%

Return for Risk

NVDU vs. SWPPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NVDU

NVDU Risk / Return Rank: 24
NVDU Sharpe Ratio Rank: 22
NVDU Sortino Ratio Rank: 26
NVDU Omega Ratio Rank: 25
NVDU Calmar Ratio Rank: 26
NVDU Martin Ratio Rank: 22

SWPPX

SWPPX Risk / Return Rank: 65
SWPPX Sharpe Ratio Rank: 63
SWPPX Sortino Ratio Rank: 56
SWPPX Omega Ratio Rank: 59
SWPPX Calmar Ratio Rank: 68
SWPPX Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NVDU vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NVDA Bull 2X Shares ETF (NVDU) and Schwab S&P 500 Index Fund (SWPPX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NVDU	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	0.74	2.14	-1.40
Sortino ratio: Return per unit of downside risk	1.40	2.89	-1.49
Omega ratio: Gain probability vs. loss probability	1.17	1.39	-0.22
Calmar ratio: Return relative to maximum drawdown	1.23	3.02	-1.78
Martin ratio: Return relative to average drawdown	2.70	13.59	-10.89

NVDU vs. SWPPX - Sharpe Ratio Comparison

The current NVDU Sharpe Ratio is 0.74, which is lower than the SWPPX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of NVDU and SWPPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NVDU vs. SWPPX - Drawdown Comparison

The maximum NVDU drawdown since its inception was -67.27%, which is greater than SWPPX's maximum drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for NVDU and SWPPX.

Drawdown Indicators

	NVDU	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-67.27%	-55.06%	-12.21%
Max Drawdown (1Y) Largest decline over 1 year	-42.27%	-8.89%	-33.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.51%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.80%	—
Current Drawdown Current decline from peak	-30.48%	-1.74%	-28.74%
Average Drawdown Average peak-to-trough decline	-18.91%	-9.93%	-8.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.30%	1.97%	+17.33%

Volatility

NVDU vs. SWPPX - Volatility Comparison

Direxion Daily NVDA Bull 2X Shares ETF (NVDU) has a higher volatility of 26.33% compared to Schwab S&P 500 Index Fund (SWPPX) at 4.73%. This indicates that NVDU's price experiences larger fluctuations and is considered to be riskier than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVDU	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.33%	4.73%	+21.60%
Volatility (6M) Calculated over the trailing 6-month period	53.28%	9.87%	+43.41%
Volatility (1Y) Calculated over the trailing 1-year period	70.48%	12.53%	+57.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.03%	17.02%	+74.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.03%	18.27%	+72.76%

NVDU vs. SWPPX - Expense Ratio Comparison

NVDU has a 1.04% expense ratio, which is higher than SWPPX's 0.02% expense ratio.

Dividends

NVDU vs. SWPPX - Dividend Comparison

NVDU's dividend yield for the trailing twelve months is around 5.68%, more than SWPPX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NVDU Direxion Daily NVDA Bull 2X Shares ETF	5.68%	5.68%	16.85%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SWPPX Schwab S&P 500 Index Fund	1.01%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%

Frequently Asked Questions

Can I hold both NVDU and SWPPX in my portfolio?

NVDU and SWPPX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVDU or SWPPX?

NVDU has higher volatility (26.33%) compared to SWPPX (4.73%). In terms of maximum drawdown, NVDU dropped -67.27% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

SWPPX currently has the higher Sharpe Ratio (2.14 vs 0.74), 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.