SCDL vs. TSMX

Last updated Apr 1, 2026

Compare and contrast key facts about ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) and Direxion Daily TSM Bull 2X Shares (TSMX).

SCDL and TSMX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SCDL is a passively managed fund by UBS that tracks the performance of the Dow Jones U.S. Dividend 100 (200%). It was launched on Feb 4, 2021. TSMX is an actively managed fund by Direxion. It was launched on Oct 3, 2024.

Performance

SCDL vs. TSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) and Direxion Daily TSM Bull 2X Shares (TSMX). The values are adjusted to include any dividend payments, if applicable.

SCDL vs. TSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN	24.46%	2.05%	-5.69%
TSMX Direxion Daily TSM Bull 2X Shares	16.15%	81.48%	14.76%

Returns By Period

In the year-to-date period, SCDL achieves a 24.46% return, which is significantly higher than TSMX's 16.15% return.

SCDL

• 1D: 0.85%
• 1M: -5.08%
• YTD: 24.46%
• 6M: 26.60%
• 1Y: 20.68%
• 3Y*: 16.30%
• 5Y*: 9.62%
• 10Y*: —

TSMX

• 1D: 13.81%
• 1M: -20.58%
• YTD: 16.15%
• 6M: 30.27%
• 1Y: 227.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCDL vs. TSMX - Expense Ratio Comparison

SCDL has a 0.95% expense ratio, which is lower than TSMX's 1.05% expense ratio.

TSMX

Direxion Daily TSM Bull 2X Shares

SCDL

ETRACS 2x Leveraged U.S. Dividend Factor TR ETN

Return for Risk

SCDL vs. TSMX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SCDL

SCDL Risk / Return Rank: 36
SCDL Sharpe Ratio Rank: 35
SCDL Sortino Ratio Rank: 39
SCDL Omega Ratio Rank: 39
SCDL Calmar Ratio Rank: 37
SCDL Martin Ratio Rank: 32

TSMX

TSMX Risk / Return Rank: 96
TSMX Sharpe Ratio Rank: 97
TSMX Sortino Ratio Rank: 95
TSMX Omega Ratio Rank: 91
TSMX Calmar Ratio Rank: 98
TSMX Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SCDL vs. TSMX - 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 TSM Bull 2X Shares (TSMX). 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	TSMX	Difference
Sharpe ratio Return per unit of total volatility	0.64	2.95	-2.32
Sortino ratio Return per unit of downside risk	1.09	3.08	-1.99
Omega ratio Gain probability vs. loss probability	1.16	1.39	-0.23
Calmar ratio Return relative to maximum drawdown	0.92	6.59	-5.66
Martin ratio Return relative to average drawdown	2.80	20.50	-17.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCDL vs. TSMX - Sharpe Ratio Comparison

The current SCDL Sharpe Ratio is 0.64, which is lower than the TSMX Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of SCDL and TSMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SCDL	TSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	2.95	-2.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	1.01	-0.54

Correlation

The correlation between SCDL and TSMX is 0.14, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SCDL vs. TSMX - Dividend Comparison

SCDL has not paid dividends to shareholders, while TSMX's dividend yield for the trailing twelve months is around 7.11%.

	TTM	2025	2024
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN	0.00%	0.00%	0.00%
TSMX Direxion Daily TSM Bull 2X Shares	7.11%	8.01%	0.53%

Drawdowns

SCDL vs. TSMX - Drawdown Comparison

The maximum SCDL drawdown since its inception was -34.87%, smaller than the maximum TSMX drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for SCDL and TSMX.

Drawdown Indicators

	SCDL	TSMX	Difference
Max Drawdown Largest peak-to-trough decline	-34.87%	-63.80%	+28.93%
Max Drawdown (1Y) Largest decline over 1 year	-25.74%	-34.93%	+9.19%
Max Drawdown (5Y) Largest decline over 5 years	-34.87%	—	—
Current Drawdown Current decline from peak	-5.81%	-25.94%	+20.13%
Average Drawdown Average peak-to-trough decline	-12.26%	-16.74%	+4.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.61%	11.22%	-2.61%

Volatility

SCDL vs. TSMX - Volatility Comparison

The current volatility for ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) is 4.69%, while Direxion Daily TSM Bull 2X Shares (TSMX) has a volatility of 29.06%. This indicates that SCDL experiences smaller price fluctuations and is considered to be less risky than TSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCDL	TSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.69%	29.06%	-24.37%
Volatility (6M) Calculated over the trailing 6-month period	15.48%	54.61%	-39.13%
Volatility (1Y) Calculated over the trailing 1-year period	32.67%	77.49%	-44.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.06%	81.26%	-52.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.12%	81.26%	-52.14%