RKLX vs. SPUU

Last updated Aug 2, 2026

RKLX (Defiance Daily Target 2X Long RKLB ETF) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds. RKLX is actively managed, while SPUU is passively managed. Over the past year, RKLX returned -33.38% vs 38.14% for SPUU. Their 0.47 correlation means their historical movements had little consistent relationship. RKLX charges 1.29%/yr vs 0.60%/yr for SPUU.

Performance

RKLX vs. SPUU - Performance Comparison

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

Returns By Period

In the year-to-date period, RKLX achieves a -58.86% return, which is significantly lower than SPUU's 16.72% return.

RKLX

• 1D: 0.68%
• 1M: -62.20%
• 6M: -66.47%
• YTD: -58.86%
• 1Y: -33.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 110.42%

SPUU

• 1D: 1.52%
• 1M: 0.24%
• 6M: 14.02%
• YTD: 16.72%
• 1Y: 38.14%
• 3Y*: 31.33%
• 5Y*: 17.73%
• 10Y*: 23.82%
• ALL TIME*: 21.37%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RKLX Defiance Daily Target 2X Long RKLB ETF	$52.09M	$66.50M	$175.62M
SPUU Direxion Daily S&P 500 Bull 2X ETF	$4.20M	$4.55M	$4.33M

RKLX vs. SPUU - Yearly Performance Comparison

	2026 (YTD)	2025
RKLX Defiance Daily Target 2X Long RKLB ETF	-58.86%	579.88%
SPUU Direxion Daily S&P 500 Bull 2X ETF	16.72%	41.41%

Correlation

The correlation between RKLX and SPUU is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.45
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025	0.47

RKLX vs. SPUU - Sectors Allocation Comparison

Sectors	RKLX	SPUU
Industrials	100.0%	3.5%
Basic Materials	-	0.8%
Communication Services	-	4.2%
Consumer Cyclical	-	3.9%
Consumer Defensive	-	2.1%
Energy	-	1.5%
Financial Services	-	5.5%
Healthcare	-	4.1%
Real Estate	-	0.9%
Technology	-	17.0%
Utilities	-	1.2%

Return for Risk

RKLX vs. SPUU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RKLX

RKLX Risk / Return Rank: 15
RKLX Sharpe Ratio Rank: 8
RKLX Sortino Ratio Rank: 28
RKLX Omega Ratio Rank: 26
RKLX Calmar Ratio Rank: 6
RKLX Martin Ratio Rank: 6

SPUU

SPUU Risk / Return Rank: 54
SPUU Sharpe Ratio Rank: 54
SPUU Sortino Ratio Rank: 51
SPUU Omega Ratio Rank: 52
SPUU Calmar Ratio Rank: 52
SPUU Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RKLX vs. SPUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long RKLB ETF (RKLX) and Direxion Daily S&P 500 Bull 2X ETF (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.

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.

	RKLX	SPUU	Difference
Sharpe ratio: Return per unit of total volatility	-0.19	1.30	-1.50
Sortino ratio: Return per unit of downside risk	1.05	1.80	-0.75
Omega ratio: Gain probability vs. loss probability	1.12	1.23	-0.11
Calmar ratio: Return relative to maximum drawdown	-0.42	1.85	-2.27
Martin ratio: Return relative to average drawdown	-0.82	7.47	-8.28

RKLX vs. SPUU - Sharpe Ratio Comparison

The current RKLX Sharpe Ratio is -0.19, which is lower than the SPUU Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of RKLX and SPUU, 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

RKLX vs. SPUU - Drawdown Comparison

The maximum RKLX drawdown since its inception was -88.14%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for RKLX and SPUU.

Drawdown Indicators

	RKLX	SPUU	Difference
Max Drawdown Largest peak-to-trough decline	-88.14%	-59.35%	-28.79%
Max Drawdown (1Y) Largest decline over 1 year	-88.14%	-18.19%	-69.95%
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	-85.60%	-3.83%	-81.77%
Average Drawdown Average peak-to-trough decline	-30.82%	-9.44%	-21.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.07%	4.51%	+40.56%

Volatility

RKLX vs. SPUU - Volatility Comparison

Defiance Daily Target 2X Long RKLB ETF (RKLX) has a higher volatility of 52.61% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 7.10%. This indicates that RKLX's price experiences larger fluctuations and is considered to be riskier than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RKLX	SPUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	52.61%	7.10%	+45.51%
Volatility (6M) Calculated over the trailing 6-month period	145.49%	20.38%	+125.11%
Volatility (1Y) Calculated over the trailing 1-year period	190.22%	25.88%	+164.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	184.53%	33.70%	+150.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	184.53%	35.79%	+148.74%

RKLX vs. SPUU - Expense Ratio Comparison

RKLX has a 1.29% expense ratio, which is higher than SPUU's 0.60% expense ratio.

Dividends

RKLX vs. SPUU - Dividend Comparison

RKLX's dividend yield for the trailing twelve months is around 36.33%, more than SPUU's 1.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RKLX Defiance Daily Target 2X Long RKLB ETF	36.33%	14.94%	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 ETF	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 RKLX and SPUU in my portfolio?

RKLX and SPUU have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RKLX or SPUU?

RKLX has higher volatility (52.61%) compared to SPUU (7.10%). In terms of maximum drawdown, RKLX dropped -88.14% vs SPUU's -59.35%.

Which ETF is better, RKLX or SPUU?

On 1-year performance, SPUU leads with 38.14% vs -33.38% for RKLX. On fees, SPUU is cheaper at 0.60% per year. On volatility, SPUU has been the lower-risk option at 7.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RKLX or SPUU?

Over the 1-year period, SPUU has performed better with a 38.14% return vs -33.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RKLX or SPUU?

SPUU is cheaper with a 0.60% expense ratio, compared with 1.29% for RKLX.

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

RKLX has the higher dividend yield at 36.33%, compared with 1.34% for SPUU.

What is the main difference between RKLX and SPUU?

They also come from different issuers: Defiance and Direxion. Their fees differ too: 1.29% for RKLX and 0.60% for SPUU.

Which has better risk-adjusted returns?

SPUU currently has the higher Sharpe Ratio (1.30 vs -0.19), 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.