SCDL vs. SPUU
SCDL (ETRACS 2x Leveraged U.S. Dividend Factor TR ETN) and SPUU (Direxion Daily S&P 500 Bull 2x Shares) are both Leveraged Equities funds - SCDL tracks the Dow Jones U.S. Dividend 100 (200%) while SPUU tracks the S&P 500 Index (200%). Both are passively managed. Over the past 5 years, SCDL returned 9.40%/yr vs 20.19%/yr for SPUU. A 0.69 correlation means they provide meaningful diversification when combined. SCDL charges 0.95%/yr vs 0.64%/yr for SPUU.
Performance
SCDL vs. SPUU - Performance Comparison
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Returns By Period
In the year-to-date period, SCDL achieves a 37.06% return, which is significantly higher than SPUU's 19.82% return.
SCDL
- 1D
- 0.51%
- 1M
- 5.01%
- YTD
- 37.06%
- 6M
- 35.80%
- 1Y
- 50.97%
- 3Y*
- 22.79%
- 5Y*
- 9.40%
- 10Y*
- —
SPUU
- 1D
- -1.27%
- 1M
- 10.01%
- YTD
- 19.82%
- 6M
- 19.11%
- 1Y
- 53.61%
- 3Y*
- 38.21%
- 5Y*
- 20.19%
- 10Y*
- 24.77%
SCDL vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN | 37.06% | 2.05% | 14.99% | 0.18% | -13.06% | 52.47% |
SPUU Direxion Daily S&P 500 Bull 2x Shares | 19.82% | 26.55% | 44.25% | 47.28% | -38.72% | 50.65% |
Correlation
The correlation between SCDL and SPUU is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2021 | 0.69 |
Over the past year, the correlation between SCDL and SPUU has dropped to 0.34 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.
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Return for Risk
SCDL vs. SPUU — Risk / Return Rank
SCDL
SPUU
SCDL vs. SPUU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) and Direxion Daily S&P 500 Bull 2x Shares (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.
| SCDL | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.38 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 5.03 | 2.96 | +2.07 |
| Martin ratioReturn relative to average drawdown | 12.65 | 13.06 | -0.41 |
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
| SCDL | SPUU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 2.26 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.61 | -0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.69 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.63 | -0.10 |
Drawdowns
SCDL vs. SPUU - Drawdown Comparison
The maximum SCDL drawdown since its inception was -34.87%, smaller than the maximum SPUU drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for SCDL and SPUU.
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Drawdown Indicators
| SCDL | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.87% | -59.35% | +24.48% |
Max Drawdown (1Y)Largest decline over 1 year | -10.19% | -18.19% | +8.00% |
Max Drawdown (3Y)Largest decline over 3 years | -32.79% | -35.18% | +2.39% |
Max Drawdown (5Y)Largest decline over 5 years | -34.87% | -46.59% | +11.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -59.35% | — |
Current DrawdownCurrent decline from peak | -2.79% | -1.27% | -1.52% |
Average DrawdownAverage peak-to-trough decline | -11.96% | -9.51% | -2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 4.12% | -0.08% |
Volatility
SCDL vs. SPUU - Volatility Comparison
The current volatility for ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) is 5.20%, while Direxion Daily S&P 500 Bull 2x Shares (SPUU) has a volatility of 5.71%. This indicates that SCDL experiences smaller price fluctuations and is considered to be less risky 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
| SCDL | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.20% | 5.71% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 14.82% | 18.09% | -3.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.66% | 23.90% | -2.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.02% | 33.46% | -4.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.89% | 35.77% | -6.88% |
SCDL vs. SPUU - Expense Ratio Comparison
SCDL has a 0.95% expense ratio, which is higher than SPUU's 0.64% expense ratio.
Dividends
SCDL vs. SPUU - Dividend Comparison
SCDL has not paid dividends to shareholders, while SPUU's dividend yield for the trailing twelve months is around 1.34%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN | 0.00% | 0.00% | 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 Shares | 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
SCDL and SPUU have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPUU has higher volatility (5.71%) compared to SCDL (5.20%). In terms of maximum drawdown, SCDL dropped -34.87% vs SPUU's -59.35%.
On 5-year performance, SPUU leads with 20.19% vs 9.40% for SCDL. On fees, SPUU is cheaper at 0.64% per year. On volatility, SCDL has been the lower-risk option at 5.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPUU has performed better with a 20.19% return vs 9.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUU is cheaper with a 0.64% expense ratio, compared with 0.95% for SCDL.
SPUU has the higher dividend yield at 1.34%, compared with 0.00% for SCDL.
SCDL tracks Dow Jones U.S. Dividend 100 (200%), while SPUU tracks S&P 500 Index (200%). They also come from different issuers: UBS and Direxion. Their fees differ too: 0.95% for SCDL and 0.64% for SPUU.
SCDL currently has the higher Sharpe Ratio (2.37 vs 2.26), 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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