SDOW vs. SPXL
Compare and contrast key facts about ProShares UltraPro Short Dow30 (SDOW) and Direxion Daily S&P 500 Bull 3X Shares (SPXL).
SDOW and SPXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SDOW is a passively managed fund by ProShares that tracks the performance of the Dow Jones Industrial Average (-300%). It was launched on Feb 11, 2010. SPXL is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index (300%). It was launched on Nov 5, 2008. Both SDOW and SPXL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SDOW or SPXL.
Key characteristics
| SDOW | SPXL | |
|---|---|---|
| YTD Return | -34.25% | 76.40% |
| 1Y Return | -51.80% | 129.94% |
| 3Y Return (Ann) | -22.26% | 10.77% |
| 5Y Return (Ann) | -40.40% | 26.41% |
| 10Y Return (Ann) | -37.37% | 25.01% |
| Sharpe Ratio | -1.54 | 3.39 |
| Sortino Ratio | -2.58 | 3.62 |
| Omega Ratio | 0.71 | 1.50 |
| Calmar Ratio | -0.51 | 2.80 |
| Martin Ratio | -1.51 | 20.61 |
| Ulcer Index | 33.73% | 6.04% |
| Daily Std Dev | 32.99% | 36.64% |
| Max Drawdown | -99.94% | -76.86% |
| Current Drawdown | -99.94% | 0.00% |
Correlation
The correlation between SDOW and SPXL is -0.92. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
SDOW vs. SPXL - Performance Comparison
In the year-to-date period, SDOW achieves a -34.25% return, which is significantly lower than SPXL's 76.40% return. Over the past 10 years, SDOW has underperformed SPXL with an annualized return of -37.37%, while SPXL has yielded a comparatively higher 25.01% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SDOW vs. SPXL - Expense Ratio Comparison
SDOW has a 0.95% expense ratio, which is lower than SPXL's 1.02% expense ratio.
Risk-Adjusted Performance
SDOW vs. SPXL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short Dow30 (SDOW) and Direxion Daily S&P 500 Bull 3X Shares (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.
Dividends
SDOW vs. SPXL - Dividend Comparison
SDOW's dividend yield for the trailing twelve months is around 7.19%, more than SPXL's 0.67% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
SDOW ProShares UltraPro Short Dow30 | 7.19% | 5.38% | 0.36% | 0.00% | 0.52% | 2.17% | 1.23% | 0.09% |
SPXL Direxion Daily S&P 500 Bull 3X Shares | 0.67% | 0.98% | 0.33% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% |
Drawdowns
SDOW vs. SPXL - Drawdown Comparison
The maximum SDOW drawdown since its inception was -99.94%, which is greater than SPXL's maximum drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for SDOW and SPXL. For additional features, visit the drawdowns tool.
Volatility
SDOW vs. SPXL - Volatility Comparison
ProShares UltraPro Short Dow30 (SDOW) has a higher volatility of 14.12% compared to Direxion Daily S&P 500 Bull 3X Shares (SPXL) at 11.78%. This indicates that SDOW'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.