SCC vs. SPXL
SCC (ProShares UltraShort Consumer Services) and SPXL (Direxion Daily S&P 500 Bull 3X ETF) are both Leveraged Equities funds - SCC tracks the DJ Global United States (All) / Consumer Services -IND (-200%) while SPXL tracks the S&P 500. Both are passively managed. Over the past 10 years, SCC returned -25.08%/yr vs 30.20%/yr for SPXL. At a correlation of -0.77, they often move in opposite directions. SCC charges 0.95%/yr vs 0.84%/yr for SPXL.
Performance
SCC vs. SPXL - Performance Comparison
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Returns By Period
In the year-to-date period, SCC achieves a 3.99% return, which is significantly lower than SPXL's 28.14% return. Over the past 10 years, SCC has underperformed SPXL with an annualized return of -25.08%, while SPXL has yielded a comparatively higher 30.20% annualized return.
SCC
- 1D
- 1.71%
- 1M
- 1.88%
- YTD
- 3.99%
- 6M
- 4.09%
- 1Y
- -15.43%
- 3Y*
- -25.44%
- 5Y*
- -15.79%
- 10Y*
- -25.08%
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%
SCC vs. SPXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCC ProShares UltraShort Consumer Services | 3.99% | -18.97% | -36.01% | -44.34% | 64.09% | -25.84% | -54.75% | -38.94% | -8.53% | -31.58% |
SPXL Direxion Daily S&P 500 Bull 3X ETF | 28.14% | 31.94% | 63.61% | 69.49% | -56.55% | 98.75% | 9.64% | 102.80% | -25.11% | 71.03% |
Correlation
The correlation between SCC and SPXL is -0.76, 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 | -0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.76 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2008 | -0.77 |
The correlation between SCC and SPXL has been stable across timeframes, ranging from -0.85 to -0.76 - a consistent structural relationship.
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Return for Risk
SCC vs. SPXL — Risk / Return Rank
SCC
SPXL
SCC vs. SPXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Services (SCC) 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.
| SCC | SPXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.74 | ||
| Sortino ratioReturn per unit of downside risk | -3.17 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.37 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | 3.06 | -3.60 |
| Martin ratioReturn relative to average drawdown | -0.80 | 12.94 | -13.74 |
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
| SCC | SPXL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.43 | 2.32 | -2.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.36 | 0.47 | -0.83 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.64 | 0.57 | -1.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.64 | 0.53 | -1.17 |
Drawdowns
SCC vs. SPXL - Drawdown Comparison
The maximum SCC drawdown since its inception was -99.92%, which is greater than SPXL's maximum drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for SCC and SPXL.
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Drawdown Indicators
| SCC | SPXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.92% | -76.86% | -23.06% |
Max Drawdown (1Y)Largest decline over 1 year | -29.02% | -26.77% | -2.25% |
Max Drawdown (3Y)Largest decline over 3 years | -67.10% | -48.95% | -18.15% |
Max Drawdown (5Y)Largest decline over 5 years | -77.34% | -63.80% | -13.54% |
Max Drawdown (10Y)Largest decline over 10 years | -95.55% | -76.86% | -18.69% |
Current DrawdownCurrent decline from peak | -99.90% | -2.08% | -97.82% |
Average DrawdownAverage peak-to-trough decline | -85.95% | -15.72% | -70.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.21% | 6.32% | +12.89% |
Volatility
SCC vs. SPXL - Volatility Comparison
ProShares UltraShort Consumer Services (SCC) has a higher volatility of 10.71% compared to Direxion Daily S&P 500 Bull 3X ETF (SPXL) at 8.49%. This indicates that SCC'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
| SCC | SPXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.71% | 8.49% | +2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 26.41% | 26.67% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.34% | 35.39% | +0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.94% | 50.24% | -6.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.52% | 53.42% | -13.90% |
SCC vs. SPXL - Expense Ratio Comparison
SCC has a 0.95% expense ratio, which is higher than SPXL's 0.84% expense ratio.
Dividends
SCC vs. SPXL - Dividend Comparison
SCC's dividend yield for the trailing twelve months is around 4.53%, more than SPXL's 0.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SCC ProShares UltraShort Consumer Services | 4.53% | 4.87% | 7.46% | 4.53% | 0.53% | 0.00% | 0.06% | 2.67% | 0.86% | 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
SCC and SPXL have a correlation of -0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCC has higher volatility (10.71%) compared to SPXL (8.49%). In terms of maximum drawdown, SCC dropped -99.92% vs SPXL's -76.86%.
On 10-year performance, SPXL leads with 30.20% vs -25.08% for SCC. 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 10-year period, SPXL has performed better with a 30.20% return vs -25.08%. 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 0.95% for SCC.
SCC has the higher dividend yield at 4.53%, compared with 0.52% for SPXL.
SCC tracks DJ Global United States (All) / Consumer Services -IND (-200%), while SPXL tracks S&P 500. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SCC 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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