SMCY vs. SPUU
SMCY (YieldMax SMCI Option Income Strategy ETF) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both exchange-traded funds - SMCY is a Derivative Income fund actively managed by YieldMax, while SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily). SMCY is actively managed, while SPUU is passively managed. Over the past year, SMCY returned -45.69% vs 42.90% for SPUU. Their 0.48 correlation means their historical movements had little consistent relationship. SMCY charges 1.01%/yr vs 0.60%/yr for SPUU.
Performance
SMCY vs. SPUU - Performance Comparison
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Returns By Period
In the year-to-date period, SMCY achieves a -2.66% return, which is significantly lower than SPUU's 24.37% return.
SMCY
- 1D
- 7.71%
- 1M
- 12.04%
- 6M
- -3.84%
- YTD
- -2.66%
- 1Y
- -45.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -27.19%
SPUU
- 1D
- 3.48%
- 1M
- 6.81%
- 6M
- 22.20%
- YTD
- 24.37%
- 1Y
- 42.90%
- 3Y*
- 36.19%
- 5Y*
- 18.90%
- 10Y*
- 24.28%
- ALL TIME*
- 21.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.45M | $3.57M | $5.92M | |
| $5.02M | $5.05M | $4.57M |
SMCY vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMCY YieldMax SMCI Option Income Strategy ETF | -2.66% | -15.41% | -33.36% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 24.37% | 26.55% | 10.76% |
Correlation
The correlation between SMCY and SPUU is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.55 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2024 | 0.48 |
The correlation between SMCY and SPUU has been stable across timeframes, ranging from 0.48 to 0.55 - a consistent structural relationship.
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Return for Risk
SMCY vs. SPUU — Risk / Return Rank
SMCY
SPUU
SMCY vs. SPUU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax SMCI Option Income Strategy ETF (SMCY) 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.
| SMCY | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.27 | ||
| Sortino ratioReturn per unit of downside risk | -2.74 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.28 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 2.37 | -3.15 |
| Martin ratioReturn relative to average drawdown | -1.21 | 9.56 | -10.77 |
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Drawdowns
SMCY vs. SPUU - Drawdown Comparison
The maximum SMCY drawdown since its inception was -64.75%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for SMCY and SPUU.
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Drawdown Indicators
| SMCY | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.75% | -59.35% | -5.40% |
Max Drawdown (1Y)Largest decline over 1 year | -58.62% | -18.19% | -40.43% |
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 DrawdownCurrent decline from peak | -53.07% | 0.00% | -53.07% |
Average DrawdownAverage peak-to-trough decline | -38.46% | -9.43% | -29.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.56% | 4.50% | +34.06% |
Volatility
SMCY vs. SPUU - Volatility Comparison
YieldMax SMCI Option Income Strategy ETF (SMCY) has a higher volatility of 24.43% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 8.18%. This indicates that SMCY's price experiences larger fluctuations and is considered to be riskier than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMCY | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.43% | 8.18% | +16.25% |
Volatility (6M)Calculated over the trailing 6-month period | 70.99% | 20.79% | +50.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.58% | 26.00% | +49.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.55% | 33.76% | +46.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.55% | 35.82% | +44.73% |
SMCY vs. SPUU - Expense Ratio Comparison
SMCY has a 1.01% expense ratio, which is higher than SPUU's 0.60% expense ratio.
Dividends
SMCY vs. SPUU - Dividend Comparison
SMCY's dividend yield for the trailing twelve months is around 165.69%, more than SPUU's 1.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMCY YieldMax SMCI Option Income Strategy ETF | 165.69% | 231.43% | 38.43% | 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 | 1.26% | 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
SMCY and SPUU have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMCY has higher volatility (24.43%) compared to SPUU (8.18%). In terms of maximum drawdown, SMCY dropped -64.75% vs SPUU's -59.35%.
On 1-year performance, SPUU leads with 42.90% vs -45.69% for SMCY. On fees, SPUU is cheaper at 0.60% per year. On volatility, SPUU has been the lower-risk option at 8.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPUU has performed better with a 42.90% return vs -45.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUU is cheaper with a 0.60% expense ratio, compared with 1.01% for SMCY.
SMCY has the higher dividend yield at 165.69%, compared with 1.26% for SPUU.
SMCY is categorized as Derivative Income, while SPUU is Leveraged Equities. They also come from different issuers: YieldMax and Direxion. Their fees differ too: 1.01% for SMCY and 0.60% for SPUU.
SPUU currently has the higher Sharpe Ratio (1.67 vs -0.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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