QULL vs. SPXL
Compare and contrast key facts about ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) and Direxion Daily S&P 500 Bull 3X Shares (SPXL).
QULL and SPXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QULL is a passively managed fund by UBS that tracks the performance of the MSCI USA Sector Neutral Quality Index. It was launched on Feb 5, 2021. 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 QULL 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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: QULL or SPXL.
Key characteristics
| QULL | SPXL | |
|---|---|---|
| YTD Return | 48.05% | 75.08% |
| 1Y Return | 68.39% | 118.94% |
| 3Y Return (Ann) | 10.69% | 10.56% |
| Sharpe Ratio | 2.69 | 3.25 |
| Sortino Ratio | 3.36 | 3.52 |
| Omega Ratio | 1.45 | 1.49 |
| Calmar Ratio | 3.27 | 2.80 |
| Martin Ratio | 16.65 | 19.58 |
| Ulcer Index | 4.08% | 6.04% |
| Daily Std Dev | 25.24% | 36.31% |
| Max Drawdown | -51.83% | -76.86% |
| Current Drawdown | -2.39% | -1.01% |
Correlation
The correlation between QULL and SPXL is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
QULL vs. SPXL - Performance Comparison
In the year-to-date period, QULL achieves a 48.05% return, which is significantly lower than SPXL's 75.08% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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QULL vs. SPXL - Expense Ratio Comparison
QULL has a 0.95% expense ratio, which is lower than SPXL's 1.02% expense ratio.
Risk-Adjusted Performance
QULL vs. SPXL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) 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.
Dividends
QULL vs. SPXL - Dividend Comparison
QULL has not paid dividends to shareholders, while SPXL's dividend yield for the trailing twelve months is around 0.68%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
QULL ETRACS 2x Leveraged MSCI US Quality Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPXL Direxion Daily S&P 500 Bull 3X Shares | 0.68% | 0.98% | 0.33% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% |
Drawdowns
QULL vs. SPXL - Drawdown Comparison
The maximum QULL drawdown since its inception was -51.83%, smaller than the maximum SPXL drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for QULL and SPXL. For additional features, visit the drawdowns tool.
Volatility
QULL vs. SPXL - Volatility Comparison
The current volatility for ETRACS 2x Leveraged MSCI US Quality Factor TR ETN (QULL) is 7.83%, while Direxion Daily S&P 500 Bull 3X Shares (SPXL) has a volatility of 11.59%. This indicates that QULL 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.