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 -24.58%/yr vs 28.61%/yr for SPXL. Their -0.77 correlation means they have often moved in opposite directions in the past. 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 3.71% return, which is significantly lower than SPXL's 22.10% return. Over the past 10 years, SCC has underperformed SPXL with an annualized return of -24.58%, while SPXL has yielded a comparatively higher 28.61% annualized return.
SCC
- 1D
- -6.23%
- 1M
- 1.57%
- 6M
- 6.70%
- YTD
- 3.71%
- 1Y
- -15.16%
- 3Y*
- -20.88%
- 5Y*
- -14.68%
- 10Y*
- -24.58%
- ALL TIME*
- -25.78%
SPXL
- 1D
- 2.01%
- 1M
- -0.23%
- 6M
- 18.15%
- YTD
- 22.10%
- 1Y
- 54.55%
- 3Y*
- 41.56%
- 5Y*
- 19.59%
- 10Y*
- 28.61%
- ALL TIME*
- 27.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $353.66K | $227.58K | $240.11K | |
| $473.70M | $462.79M | $534.56M |
SCC vs. SPXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCC ProShares UltraShort Consumer Services | 3.71% | -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 | 22.10% | 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 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. | -0.76 |
Correlation (3Y) Balances recent behavior with more history. | -0.80 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.84 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.77 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2008 | -0.77 |
The correlation between SCC and SPXL has been stable across timeframes, ranging from -0.84 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.
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.
| SCC | SPXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.50 | ||
| Sortino ratioReturn per unit of downside risk | -1.87 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.22 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 1.76 | -2.19 |
| Martin ratioReturn relative to average drawdown | -0.65 | 6.74 | -7.39 |
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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 | -25.54% | -26.77% | +1.23% |
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 | -95.14% | -76.86% | -18.28% |
Current DrawdownCurrent decline from peak | -99.90% | -6.70% | -93.20% |
Average DrawdownAverage peak-to-trough decline | -86.05% | -16.04% | -70.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.80% | 6.98% | +9.82% |
Volatility
SCC vs. SPXL - Volatility Comparison
ProShares UltraShort Consumer Services (SCC) has a higher volatility of 13.88% compared to Direxion Daily S&P 500 Bull 3X ETF (SPXL) at 10.75%. 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 | 13.88% | 10.75% | +3.13% |
Volatility (6M)Calculated over the trailing 6-month period | 30.01% | 30.45% | -0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.04% | 38.62% | +0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.54% | 50.62% | -6.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.67% | 53.45% | -13.78% |
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 3.46%, more than SPXL's 0.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SCC ProShares UltraShort Consumer Services | 3.46% | 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 | 0.53% | 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 (13.88%) compared to SPXL (10.75%). In terms of maximum drawdown, SCC dropped -99.92% vs SPXL's -76.86%.
On 10-year performance, SPXL leads with 28.61% vs -24.58% for SCC. On fees, SPXL is cheaper at 0.84% per year. On volatility, SPXL has been the lower-risk option at 10.75%. 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 28.61% return vs -24.58%. 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 3.46%, compared with 0.53% 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 (1.22 vs -0.28), 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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