SKHL vs. SPUU

Last updated Jul 29, 2026

SKHL (Direxion Daily SK Hynix Bull 2X ETF) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds from Direxion - SKHL tracks the SK hynix Inc. ADR while SPUU tracks the S&P 500 Index (200% Daily). Both are passively managed. Their 0.05 correlation means their historical movements had little consistent relationship. SKHL charges 0.97%/yr vs 0.60%/yr for SPUU.

Performance

SKHL vs. SPUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily SK Hynix Bull 2X ETF (SKHL) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SKHL

• 1D: -11.82%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

SPUU

• 1D: 0.40%
• 1M: 2.31%
• 6M: 10.89%
• YTD: 14.98%
• 1Y: 29.55%
• 3Y*: 30.59%
• 5Y*: 17.12%
• 10Y*: 23.43%
• ALL TIME*: 21.23%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SKHL Direxion Daily SK Hynix Bull 2X ETF	$18.07M	$16.88M	$16.88M
SPUU Direxion Daily S&P 500 Bull 2X ETF	$4.23M	$4.64M	$4.39M

SKHL vs. SPUU - Yearly Performance Comparison

	2026 (YTD)
SKHL Direxion Daily SK Hynix Bull 2X ETF	-49.35%
SPUU Direxion Daily S&P 500 Bull 2X ETF	-3.02%

Correlation

The correlation between SKHL and SPUU is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 15, 2026	0.05

Return for Risk

SKHL vs. SPUU — Risk / Return Rank

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

SKHL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPUU

SPUU Risk / Return Rank: 48
SPUU Sharpe Ratio Rank: 48
SPUU Sortino Ratio Rank: 46
SPUU Omega Ratio Rank: 46
SPUU Calmar Ratio Rank: 46
SPUU Martin Ratio Rank: 56

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.

SKHL vs. SPUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily SK Hynix Bull 2X ETF (SKHL) and Direxion Daily S&P 500 Bull 2X ETF (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.

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.

	SKHL	SPUU	Difference
Sharpe ratio: Return per unit of total volatility	—	1.16	—
Sortino ratio: Return per unit of downside risk	—	1.65	—
Omega ratio: Gain probability vs. loss probability	—	1.21	—
Calmar ratio: Return relative to maximum drawdown	—	1.63	—
Martin ratio: Return relative to average drawdown	—	6.63	—

Drawdowns

SKHL vs. SPUU - Drawdown Comparison

The maximum SKHL drawdown since its inception was -49.35%, smaller than the maximum SPUU drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for SKHL and SPUU.

Drawdown Indicators

	SKHL	SPUU	Difference
Max Drawdown Largest peak-to-trough decline	-49.35%	-59.35%	+10.00%
Max Drawdown (1Y) Largest decline over 1 year	—	-18.19%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-35.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.59%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-59.35%	—
Current Drawdown Current decline from peak	-49.35%	-5.26%	-44.09%
Average Drawdown Average peak-to-trough decline	-28.05%	-9.44%	-18.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.47%	—

Volatility

Volatility by Period

	SKHL	SPUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.29%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	235.16%	25.49%	+209.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	235.16%	33.66%	+201.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	235.16%	35.77%	+199.39%

SKHL vs. SPUU - Expense Ratio Comparison

SKHL has a 0.97% expense ratio, which is higher than SPUU's 0.60% expense ratio.

Dividends

SKHL vs. SPUU - Dividend Comparison

SKHL has not paid dividends to shareholders, while SPUU's dividend yield for the trailing twelve months is around 1.37%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SKHL Direxion Daily SK Hynix Bull 2X ETF	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 ETF	1.37%	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

Can I hold both SKHL and SPUU in my portfolio?

SKHL and SPUU have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SKHL or SPUU?

On fees, SPUU is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SKHL or SPUU?

SPUU is cheaper with a 0.60% expense ratio, compared with 0.97% for SKHL.

Which ETF pays a higher dividend yield, SKHL or SPUU?

SPUU has the higher dividend yield at 1.37%, compared with 0.00% for SKHL.

What is the main difference between SKHL and SPUU?

SKHL tracks SK hynix Inc. ADR, while SPUU tracks S&P 500 Index (200% Daily). Their fees differ too: 0.97% for SKHL and 0.60% for SPUU.