RXD vs. SPUU
RXD (ProShares UltraShort Health Care) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds - RXD tracks the DJ Global United States (All) / Health Care -IND (-200%) while SPUU tracks the S&P 500 Index (200% Daily). Both are passively managed. Over the past 10 years, RXD returned -19.63%/yr vs 23.82%/yr for SPUU. Their -0.58 correlation means they have often moved in opposite directions in the past. RXD charges 0.95%/yr vs 0.60%/yr for SPUU.
Performance
RXD vs. SPUU - Performance Comparison
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Returns By Period
In the year-to-date period, RXD achieves a -10.24% return, which is significantly lower than SPUU's 16.72% return. Over the past 10 years, RXD has underperformed SPUU with an annualized return of -19.63%, while SPUU has yielded a comparatively higher 23.82% annualized return.
RXD
- 1D
- 0.47%
- 1M
- 0.46%
- 6M
- -10.79%
- YTD
- -10.24%
- 1Y
- -35.49%
- 3Y*
- -10.24%
- 5Y*
- -7.59%
- 10Y*
- -19.63%
- ALL TIME*
- -22.75%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $208.34K | $158.30K | $97.64K | |
| $4.20M | $4.55M | $4.33M |
RXD vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | -10.24% | -21.66% | 4.83% | 3.25% | 1.20% | -37.97% | -44.25% | -32.44% | -14.33% | -35.24% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 16.72% | 26.55% | 44.25% | 47.28% | -38.72% | 61.27% | 21.85% | 66.84% | -14.59% | 44.33% |
Correlation
The correlation between RXD and SPUU is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.21 |
Correlation (3Y) Balances recent behavior with more history. | -0.43 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.56 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.58 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014 | -0.58 |
Over the past year, the inverse relationship between RXD and SPUU has weakened: their correlation has moved from -0.58 to -0.21, meaning they move in opposite directions less often than they have historically.
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Return for Risk
RXD vs. SPUU — Risk / Return Rank
RXD
SPUU
RXD vs. SPUU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Health Care (RXD) 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.
| RXD | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.47 | ||
| Sortino ratioReturn per unit of downside risk | -3.40 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.23 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 1.85 | -2.74 |
| Martin ratioReturn relative to average drawdown | -1.40 | 7.47 | -8.87 |
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Drawdowns
RXD vs. SPUU - Drawdown Comparison
The maximum RXD drawdown since its inception was -99.68%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for RXD and SPUU.
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Drawdown Indicators
| RXD | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.68% | -59.35% | -40.33% |
Max Drawdown (1Y)Largest decline over 1 year | -40.79% | -18.19% | -22.60% |
Max Drawdown (3Y)Largest decline over 3 years | -42.58% | -35.18% | -7.40% |
Max Drawdown (5Y)Largest decline over 5 years | -46.11% | -46.59% | +0.48% |
Max Drawdown (10Y)Largest decline over 10 years | -91.52% | -59.35% | -32.17% |
Current DrawdownCurrent decline from peak | -99.67% | -3.83% | -95.84% |
Average DrawdownAverage peak-to-trough decline | -82.00% | -9.44% | -72.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.78% | 4.51% | +21.27% |
Volatility
RXD vs. SPUU - Volatility Comparison
ProShares UltraShort Health Care (RXD) has a higher volatility of 11.80% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 7.10%. This indicates that RXD'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.
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Volatility by Period
| RXD | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.80% | 7.10% | +4.70% |
Volatility (6M)Calculated over the trailing 6-month period | 24.09% | 20.38% | +3.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.60% | 25.88% | +5.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.35% | 33.70% | -3.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.15% | 35.79% | -2.64% |
RXD vs. SPUU - Expense Ratio Comparison
RXD has a 0.95% expense ratio, which is higher than SPUU's 0.60% expense ratio.
Dividends
RXD vs. SPUU - Dividend Comparison
RXD's dividend yield for the trailing twelve months is around 3.31%, more than SPUU's 1.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | 3.31% | 3.29% | 4.36% | 3.17% | 0.67% | 0.00% | 0.17% | 1.73% | 0.22% | 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
RXD and SPUU have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RXD has higher volatility (11.80%) compared to SPUU (7.10%). In terms of maximum drawdown, RXD dropped -99.68% vs SPUU's -59.35%.
On 10-year performance, SPUU leads with 23.82% vs -19.63% for RXD. 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.
Over the 10-year period, SPUU has performed better with a 23.82% return vs -19.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUU is cheaper with a 0.60% expense ratio, compared with 0.95% for RXD.
RXD has the higher dividend yield at 3.31%, compared with 1.34% for SPUU.
RXD tracks DJ Global United States (All) / Health Care -IND (-200%), while SPUU tracks S&P 500 Index (200% Daily). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for RXD and 0.60% for SPUU.
SPUU currently has the higher Sharpe Ratio (1.30 vs -1.16), 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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