PONX vs. SPUU

Last updated Jun 4, 2026

PONX (Tradr 2X Long PONY Daily ETF) and SPUU (Direxion Daily S&P 500 Bull 2x Shares) are both Leveraged Equities funds. PONX is actively managed, while SPUU is passively managed. A 0.52 correlation means they provide meaningful diversification when combined. PONX charges 1.30%/yr vs 0.64%/yr for SPUU.

Performance

PONX vs. SPUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long PONY Daily ETF (PONX) and Direxion Daily S&P 500 Bull 2x Shares (SPUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PONX achieves a -61.90% return, which is significantly lower than SPUU's 19.82% return.

PONX

• 1D: -9.11%
• 1M: -5.37%
• YTD: -61.90%
• 6M: -61.91%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPUU

• 1D: -1.27%
• 1M: 10.01%
• YTD: 19.82%
• 6M: 19.11%
• 1Y: 53.61%
• 3Y*: 38.21%
• 5Y*: 20.19%
• 10Y*: 24.77%

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

PONX vs. SPUU - Yearly Performance Comparison

	2026 (YTD)	2025
PONX Tradr 2X Long PONY Daily ETF	-61.90%	-31.52%
SPUU Direxion Daily S&P 500 Bull 2x Shares	19.82%	8.80%

Correlation

The correlation between PONX and SPUU is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 10, 2025	0.52

Return for Risk

PONX vs. SPUU — Risk / Return Rank

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

SPUU

SPUU Risk / Return Rank: 63
SPUU Sharpe Ratio Rank: 67
SPUU Sortino Ratio Rank: 60
SPUU Omega Ratio Rank: 60
SPUU Calmar Ratio Rank: 59
SPUU Martin Ratio Rank: 69

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.

PONX vs. SPUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long PONY Daily ETF (PONX) and Direxion Daily S&P 500 Bull 2x Shares (SPUU). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	PONX	SPUU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.26	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.55	0.63	-1.18

Drawdowns

PONX vs. SPUU - Drawdown Comparison

The maximum PONX drawdown since its inception was -92.74%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for PONX and SPUU.

Drawdown Indicators

	PONX	SPUU	Difference
Max Drawdown Largest peak-to-trough decline	-92.74%	-59.35%	-33.39%
Max Drawdown (1Y) Largest decline over 1 year	—	-18.19%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-35.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.59%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-59.35%	—
Current Drawdown Current decline from peak	-88.91%	-1.27%	-87.64%
Average Drawdown Average peak-to-trough decline	-65.33%	-9.51%	-55.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.12%	—

Volatility

Volatility by Period

	PONX	SPUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.71%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.09%	—
Volatility (1Y) Calculated over the trailing 1-year period	154.43%	23.90%	+130.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	154.43%	33.46%	+120.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	154.43%	35.77%	+118.66%

PONX vs. SPUU - Expense Ratio Comparison

PONX has a 1.30% expense ratio, which is higher than SPUU's 0.64% expense ratio.

Dividends

PONX vs. SPUU - Dividend Comparison

PONX has not paid dividends to shareholders, while SPUU's dividend yield for the trailing twelve months is around 1.34%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PONX Tradr 2X Long PONY Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPUU Direxion Daily S&P 500 Bull 2x Shares	1.34%	1.63%	0.55%	0.83%	0.88%	3.04%	8.03%	1.80%	5.50%	6.96%	8.08%	4.42%

Frequently Asked Questions

Can I hold both PONX and SPUU in my portfolio?

PONX and SPUU have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PONX or SPUU?

On fees, SPUU is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PONX or SPUU?

SPUU is cheaper with a 0.64% expense ratio, compared with 1.30% for PONX.

Which ETF pays a higher dividend yield, PONX or SPUU?

SPUU has the higher dividend yield at 1.34%, compared with 0.00% for PONX.

What is the main difference between PONX and SPUU?

They also come from different issuers: Tradr and Direxion. Their fees differ too: 1.30% for PONX and 0.64% for SPUU.