SHPU vs. SPXL
SHPU (Direxion Daily SHOP Bull 2X ETF) and SPXL (Direxion Daily S&P 500 Bull 3X ETF) are both Leveraged Equities funds from Direxion. SHPU is actively managed, while SPXL is passively managed. A 0.51 correlation means they provide meaningful diversification when combined. SHPU charges 1.09%/yr vs 0.84%/yr for SPXL.
Performance
SHPU vs. SPXL - Performance Comparison
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Returns By Period
In the year-to-date period, SHPU achieves a -54.21% return, which is significantly lower than SPXL's 24.85% return.
SHPU
- 1D
- 2.44%
- 1M
- 19.10%
- 6M
- -51.68%
- YTD
- -54.21%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXL
- 1D
- -1.60%
- 1M
- -0.19%
- 6M
- 19.87%
- YTD
- 24.85%
- 1Y
- 55.18%
- 3Y*
- 44.11%
- 5Y*
- 21.24%
- 10Y*
- 28.72%
SHPU vs. SPXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SHPU Direxion Daily SHOP Bull 2X ETF | -54.21% | 8.74% |
SPXL Direxion Daily S&P 500 Bull 3X ETF | 24.85% | 22.93% |
Correlation
The correlation between SHPU and SPXL is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 6, 2025 | 0.51 |
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Return for Risk
SHPU vs. SPXL — Risk / Return Rank
SHPU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPXL
SHPU vs. SPXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily SHOP Bull 2X ETF (SHPU) 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.
| SHPU | SPXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.26 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.07 | — |
| Martin ratioReturn relative to average drawdown | — | 8.18 | — |
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Drawdowns
SHPU vs. SPXL - Drawdown Comparison
The maximum SHPU drawdown since its inception was -77.97%, roughly equal to the maximum SPXL drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for SHPU and SPXL.
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Drawdown Indicators
| SHPU | SPXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.97% | -76.86% | -1.11% |
Max Drawdown (1Y)Largest decline over 1 year | — | -26.77% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -48.95% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -63.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -76.86% | — |
Current DrawdownCurrent decline from peak | -64.39% | -4.60% | -59.79% |
Average DrawdownAverage peak-to-trough decline | -40.52% | -16.06% | -24.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.77% | — |
Volatility
SHPU vs. SPXL - Volatility Comparison
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Volatility by Period
| SHPU | SPXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 10.79% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 30.09% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 108.34% | 37.68% | +70.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 108.34% | 50.59% | +57.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 108.34% | 53.38% | +54.96% |
SHPU vs. SPXL - Expense Ratio Comparison
SHPU has a 1.09% expense ratio, which is higher than SPXL's 0.84% expense ratio.
Dividends
SHPU vs. SPXL - Dividend Comparison
SHPU's dividend yield for the trailing twelve months is around 45.31%, more than SPXL's 0.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SHPU Direxion Daily SHOP Bull 2X ETF | 45.31% | 20.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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
SHPU and SPXL have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXL is cheaper at 0.84% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXL is cheaper with a 0.84% expense ratio, compared with 1.09% for SHPU.
SHPU has the higher dividend yield at 45.31%, compared with 0.52% for SPXL.
Their fees differ too: 1.09% for SHPU and 0.84% for SPXL.
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