PLTD vs. SPXL
PLTD (Direxion Daily PLTR Bear 1X Shares) and SPXL (Direxion Daily S&P 500 Bull 3X ETF) are both exchange-traded funds - PLTD is a Inverse Equities fund tracking the Palantir Technologies Inc. (-100%), while SPXL is a Leveraged Equities fund tracking the S&P 500. Both are passively managed. Over the past year, PLTD returned -22.19% vs 81.54% for SPXL. At a correlation of -0.53, they often move in opposite directions. PLTD charges 0.98%/yr vs 0.84%/yr for SPXL.
Performance
PLTD vs. SPXL - Performance Comparison
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Returns By Period
In the year-to-date period, PLTD achieves a 13.23% return, which is significantly lower than SPXL's 28.14% return.
PLTD
- 1D
- 6.63%
- 1M
- -0.00%
- YTD
- 13.23%
- 6M
- 11.78%
- 1Y
- -22.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXL
- 1D
- -2.08%
- 1M
- 14.77%
- YTD
- 28.14%
- 6M
- 26.88%
- 1Y
- 81.54%
- 3Y*
- 52.83%
- 5Y*
- 23.51%
- 10Y*
- 30.20%
PLTD vs. SPXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PLTD Direxion Daily PLTR Bear 1X Shares | 13.23% | -70.53% | -5.12% |
SPXL Direxion Daily S&P 500 Bull 3X ETF | 28.14% | 31.94% | -10.41% |
Correlation
The correlation between PLTD and SPXL is -0.47, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.47 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024 | -0.53 |
The correlation between PLTD and SPXL has been stable across timeframes, ranging from -0.53 to -0.47 - a consistent structural relationship.
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Return for Risk
PLTD vs. SPXL — Risk / Return Rank
PLTD
SPXL
PLTD vs. SPXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily PLTR Bear 1X Shares (PLTD) and Direxion Daily S&P 500 Bull 3X ETF (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.
| PLTD | SPXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.75 | ||
| Sortino ratioReturn per unit of downside risk | -3.11 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.37 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | 3.06 | -3.56 |
| Martin ratioReturn relative to average drawdown | -0.74 | 12.94 | -13.67 |
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
| PLTD | SPXL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.43 | 2.32 | -2.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.47 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.57 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.86 | 0.53 | -1.38 |
Drawdowns
PLTD vs. SPXL - Drawdown Comparison
The maximum PLTD drawdown since its inception was -77.34%, roughly equal to the maximum SPXL drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for PLTD and SPXL.
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Drawdown Indicators
| PLTD | SPXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.34% | -76.86% | -0.48% |
Max Drawdown (1Y)Largest decline over 1 year | -44.79% | -26.77% | -18.02% |
Max Drawdown (3Y)Largest decline over 3 years | — | -48.95% | — |
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 | -71.01% | -2.08% | -68.93% |
Average DrawdownAverage peak-to-trough decline | -59.43% | -15.72% | -43.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.14% | 6.32% | +23.82% |
Volatility
PLTD vs. SPXL - Volatility Comparison
Direxion Daily PLTR Bear 1X Shares (PLTD) has a higher volatility of 18.68% compared to Direxion Daily S&P 500 Bull 3X ETF (SPXL) at 8.49%. This indicates that PLTD'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.
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Volatility by Period
| PLTD | SPXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.68% | 8.49% | +10.19% |
Volatility (6M)Calculated over the trailing 6-month period | 38.02% | 26.67% | +11.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.79% | 35.39% | +16.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.73% | 50.24% | +13.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.73% | 53.42% | +10.31% |
PLTD vs. SPXL - Expense Ratio Comparison
PLTD has a 0.98% expense ratio, which is higher than SPXL's 0.84% expense ratio.
Dividends
PLTD vs. SPXL - Dividend Comparison
PLTD's dividend yield for the trailing twelve months is around 3.26%, more than SPXL's 0.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PLTD Direxion Daily PLTR Bear 1X Shares | 3.26% | 5.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPXL Direxion Daily S&P 500 Bull 3X ETF | 0.52% | 0.69% | 0.74% | 0.98% | 0.32% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% |
Frequently Asked Questions
PLTD and SPXL have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PLTD has higher volatility (18.68%) compared to SPXL (8.49%). In terms of maximum drawdown, PLTD dropped -77.34% vs SPXL's -76.86%.
On 1-year performance, SPXL leads with 81.54% vs -22.19% for PLTD. On fees, SPXL is cheaper at 0.84% per year. On volatility, SPXL has been the lower-risk option at 8.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPXL has performed better with a 81.54% return vs -22.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPXL is cheaper with a 0.84% expense ratio, compared with 0.98% for PLTD.
PLTD has the higher dividend yield at 3.26%, compared with 0.52% for SPXL.
PLTD is categorized as Inverse Equities, while SPXL is Leveraged Equities. PLTD tracks Palantir Technologies Inc. (-100%), while SPXL tracks S&P 500. Their fees differ too: 0.98% for PLTD and 0.84% for SPXL.
SPXL currently has the higher Sharpe Ratio (2.32 vs -0.43), 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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