SHPU vs. SPXS
SHPU (Direxion Daily SHOP Bull 2X ETF) and SPXS (Direxion Daily S&P 500 Bear 3X Shares) are both exchange-traded funds - SHPU is a Leveraged Equities fund actively managed by Direxion, while SPXS is a Inverse Equities fund tracking the S&P 500 Index (-300%). SHPU is actively managed, while SPXS is passively managed. At a correlation of -0.56, they often move in opposite directions. SHPU charges 1.09%/yr vs 1.08%/yr for SPXS.
Performance
SHPU vs. SPXS - Performance Comparison
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Returns By Period
In the year-to-date period, SHPU achieves a -63.07% return, which is significantly lower than SPXS's -19.79% return.
SHPU
- 1D
- -4.90%
- 1M
- 8.87%
- YTD
- -63.07%
- 6M
- -66.83%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXS
- 1D
- 0.04%
- 1M
- 6.38%
- YTD
- -19.79%
- 6M
- -16.59%
- 1Y
- -41.52%
- 3Y*
- -40.72%
- 5Y*
- -33.23%
- 10Y*
- -42.33%
SHPU vs. SPXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SHPU Direxion Daily SHOP Bull 2X ETF | -63.07% | 8.74% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | -19.79% | -20.32% |
Correlation
The correlation between SHPU and SPXS is -0.56, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 6, 2025 | -0.56 |
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Return for Risk
SHPU vs. SPXS — Risk / Return Rank
SHPU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPXS
SHPU vs. SPXS - 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 Bear 3X Shares (SPXS). 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 | SPXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.81 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.91 | — |
| Martin ratioReturn relative to average drawdown | — | -1.60 | — |
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Drawdowns
SHPU vs. SPXS - Drawdown Comparison
The maximum SHPU drawdown since its inception was -77.97%, smaller than the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SHPU and SPXS.
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Drawdown Indicators
| SHPU | SPXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.97% | -100.00% | +22.03% |
Max Drawdown (1Y)Largest decline over 1 year | — | -45.74% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -84.13% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.61% | — |
Current DrawdownCurrent decline from peak | -71.28% | -100.00% | +28.72% |
Average DrawdownAverage peak-to-trough decline | -38.89% | -96.29% | +57.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 27.24% | — |
Volatility
SHPU vs. SPXS - Volatility Comparison
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Volatility by Period
| SHPU | SPXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 14.10% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 29.36% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 109.61% | 37.23% | +72.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 109.61% | 50.68% | +58.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 109.61% | 53.57% | +56.04% |
SHPU vs. SPXS - Expense Ratio Comparison
SHPU has a 1.09% expense ratio, which is higher than SPXS's 1.08% expense ratio.
Dividends
SHPU vs. SPXS - Dividend Comparison
SHPU's dividend yield for the trailing twelve months is around 56.18%, more than SPXS's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SHPU Direxion Daily SHOP Bull 2X ETF | 56.18% | 20.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | 4.23% | 4.93% | 6.18% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% |
Frequently Asked Questions
SHPU and SPXS have a correlation of -0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXS is cheaper at 1.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXS is cheaper with a 1.08% expense ratio, compared with 1.09% for SHPU.
SHPU has the higher dividend yield at 56.18%, compared with 4.23% for SPXS.
SHPU is categorized as Leveraged Equities, while SPXS is Inverse Equities. Their fees differ too: 1.09% for SHPU and 1.08% for SPXS.
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