SPDN vs. DGRO
Compare and contrast key facts about Direxion Daily S&P 500 Bear 1x Shares (SPDN) and iShares Core Dividend Growth ETF (DGRO).
SPDN and DGRO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPDN is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index. It was launched on Jun 8, 2016. DGRO is a passively managed fund by iShares that tracks the performance of the Morningstar US Dividend Growth Index. It was launched on Jun 10, 2014. Both SPDN and DGRO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SPDN vs. DGRO - Performance Comparison
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SPDN vs. DGRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPDN Direxion Daily S&P 500 Bear 1x Shares | 6.05% | -11.09% | -12.88% | -15.04% | 18.63% | -23.72% | -24.56% | -21.94% | 5.41% | -17.16% |
DGRO iShares Core Dividend Growth ETF | 1.57% | 15.69% | 16.62% | 10.47% | -7.91% | 26.64% | 9.50% | 29.87% | -2.38% | 23.00% |
Returns By Period
In the year-to-date period, SPDN achieves a 6.05% return, which is significantly higher than DGRO's 1.57% return.
SPDN
- 1D
- -2.74%
- 1M
- 5.71%
- YTD
- 6.05%
- 6M
- 4.90%
- 1Y
- -11.05%
- 3Y*
- -9.57%
- 5Y*
- -7.35%
- 10Y*
- —
DGRO
- 1D
- 1.74%
- 1M
- -4.56%
- YTD
- 1.57%
- 6M
- 4.23%
- 1Y
- 16.09%
- 3Y*
- 14.59%
- 5Y*
- 10.13%
- 10Y*
- 12.81%
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SPDN vs. DGRO - Expense Ratio Comparison
SPDN has a 0.50% expense ratio, which is higher than DGRO's 0.08% expense ratio.
Return for Risk
SPDN vs. DGRO — Risk / Return Rank
SPDN
DGRO
SPDN vs. DGRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 Bear 1x Shares (SPDN) and iShares Core Dividend Growth ETF (DGRO). 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.
| SPDN | DGRO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.60 | 1.12 | -1.72 |
Sortino ratioReturn per unit of downside risk | -0.73 | 1.63 | -2.36 |
Omega ratioGain probability vs. loss probability | 0.89 | 1.24 | -0.35 |
Calmar ratioReturn relative to maximum drawdown | -0.44 | 1.58 | -2.02 |
Martin ratioReturn relative to average drawdown | -0.53 | 7.35 | -7.88 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPDN | DGRO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.60 | 1.12 | -1.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | 0.74 | -1.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.77 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.63 | 0.73 | -1.37 |
Correlation
The correlation between SPDN and DGRO is -0.88. 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.
Dividends
SPDN vs. DGRO - Dividend Comparison
SPDN's dividend yield for the trailing twelve months is around 3.56%, more than DGRO's 2.10% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPDN Direxion Daily S&P 500 Bear 1x Shares | 3.56% | 4.06% | 5.32% | 5.84% | 0.96% | 0.00% | 0.10% | 1.89% | 1.24% | 0.42% | 0.00% | 0.00% |
DGRO iShares Core Dividend Growth ETF | 2.10% | 2.09% | 2.26% | 2.45% | 2.34% | 1.93% | 2.30% | 2.21% | 2.44% | 2.03% | 2.27% | 2.52% |
Drawdowns
SPDN vs. DGRO - Drawdown Comparison
The maximum SPDN drawdown since its inception was -73.52%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for SPDN and DGRO.
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Drawdown Indicators
| SPDN | DGRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.52% | -35.10% | -38.42% |
Max Drawdown (1Y)Largest decline over 1 year | -26.44% | -10.92% | -15.52% |
Max Drawdown (5Y)Largest decline over 5 years | -39.78% | -19.31% | -20.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.10% | — |
Current DrawdownCurrent decline from peak | -71.44% | -4.73% | -66.71% |
Average DrawdownAverage peak-to-trough decline | -48.09% | -3.48% | -44.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.69% | 2.35% | +19.34% |
Volatility
SPDN vs. DGRO - Volatility Comparison
Direxion Daily S&P 500 Bear 1x Shares (SPDN) has a higher volatility of 5.48% compared to iShares Core Dividend Growth ETF (DGRO) at 3.66%. This indicates that SPDN's price experiences larger fluctuations and is considered to be riskier than DGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPDN | DGRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.48% | 3.66% | +1.82% |
Volatility (6M)Calculated over the trailing 6-month period | 9.67% | 7.22% | +2.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.51% | 14.50% | +4.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.87% | 13.84% | +3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.13% | 16.63% | +1.50% |