SPDN vs. MINT
SPDN (Direxion Daily S&P 500 Bear 1x Shares) and MINT (PIMCO Enhanced Short Maturity Active ETF) are both exchange-traded funds - SPDN is a Inverse Equities fund tracking the S&P 500 Index, while MINT is a Ultrashort Bond fund actively managed by PIMCO. SPDN is passively managed, while MINT is actively managed. Over the past 10 years, SPDN returned -12.53%/yr vs 2.72%/yr for MINT. At a correlation of -0.04, they often move in opposite directions. SPDN charges 0.50%/yr vs 0.36%/yr for MINT.
Performance
SPDN vs. MINT - Performance Comparison
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Returns By Period
In the year-to-date period, SPDN achieves a -6.10% return, which is significantly lower than MINT's 1.94% return. Over the past 10 years, SPDN has underperformed MINT with an annualized return of -12.53%, while MINT has yielded a comparatively higher 2.72% annualized return.
SPDN
- 1D
- -0.45%
- 1M
- 0.11%
- YTD
- -6.10%
- 6M
- -6.14%
- 1Y
- -15.56%
- 3Y*
- -11.73%
- 5Y*
- -8.47%
- 10Y*
- -12.53%
MINT
- 1D
- 0.04%
- 1M
- 0.35%
- YTD
- 1.94%
- 6M
- 2.19%
- 1Y
- 4.67%
- 3Y*
- 5.40%
- 5Y*
- 3.49%
- 10Y*
- 2.72%
SPDN vs. MINT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPDN Direxion Daily S&P 500 Bear 1x Shares | -6.10% | -11.09% | -12.88% | -15.04% | 18.63% | -23.72% | -24.56% | -21.94% | 5.41% | -17.16% |
MINT PIMCO Enhanced Short Maturity Active ETF | 1.94% | 4.74% | 5.94% | 6.26% | -1.01% | -0.03% | 1.62% | 3.34% | 1.72% | 1.86% |
Correlation
The correlation between SPDN and MINT is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 8, 2016 | -0.04 |
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Return for Risk
SPDN vs. MINT — Risk / Return Rank
SPDN
MINT
SPDN vs. MINT - 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 PIMCO Enhanced Short Maturity Active ETF (MINT). 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.
| SPDN | MINT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.67 | ||
| Sortino ratioReturn per unit of downside risk | -68.60 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 21.62 | -20.80 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 95.35 | -96.17 |
| Martin ratioReturn relative to average drawdown | -1.46 | 965.15 | -966.62 |
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Drawdowns
SPDN vs. MINT - Drawdown Comparison
The maximum SPDN drawdown since its inception was -75.31%, which is greater than MINT's maximum drawdown of -4.62%. Use the drawdown chart below to compare losses from any high point for SPDN and MINT.
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Drawdown Indicators
| SPDN | MINT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.31% | -4.62% | -70.69% |
Max Drawdown (1Y)Largest decline over 1 year | -17.73% | -0.05% | -17.68% |
Max Drawdown (3Y)Largest decline over 3 years | -38.24% | -0.16% | -38.08% |
Max Drawdown (5Y)Largest decline over 5 years | -43.85% | -2.42% | -41.43% |
Max Drawdown (10Y)Largest decline over 10 years | -75.31% | -4.62% | -70.69% |
Current DrawdownCurrent decline from peak | -74.71% | 0.00% | -74.71% |
Average DrawdownAverage peak-to-trough decline | -48.59% | -0.17% | -48.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.89% | 0.00% | +9.89% |
Volatility
SPDN vs. MINT - Volatility Comparison
Direxion Daily S&P 500 Bear 1x Shares (SPDN) has a higher volatility of 4.18% compared to PIMCO Enhanced Short Maturity Active ETF (MINT) at 0.09%. This indicates that SPDN's price experiences larger fluctuations and is considered to be riskier than MINT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPDN | MINT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.18% | 0.09% | +4.09% |
Volatility (6M)Calculated over the trailing 6-month period | 9.71% | 0.20% | +9.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.52% | 0.27% | +12.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.92% | 0.58% | +16.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.05% | 0.95% | +17.10% |
SPDN vs. MINT - Expense Ratio Comparison
SPDN has a 0.50% expense ratio, which is higher than MINT's 0.36% expense ratio.
Dividends
SPDN vs. MINT - Dividend Comparison
SPDN's dividend yield for the trailing twelve months is around 4.02%, less than MINT's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MINT PIMCO Enhanced Short Maturity Active ETF | 4.28% | 4.63% | 5.22% | 4.91% | 1.90% | 0.44% | 1.15% | 2.65% | 2.32% | 1.61% | 1.35% | 0.88% |
SPDN Direxion Daily S&P 500 Bear 1x Shares | 4.02% | 4.06% | 5.32% | 5.84% | 0.96% | 0.00% | 0.10% | 1.89% | 1.24% | 0.42% | 0.00% | 0.00% |
Frequently Asked Questions
SPDN and MINT have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPDN has higher volatility (4.18%) compared to MINT (0.09%). In terms of maximum drawdown, SPDN dropped -75.31% vs MINT's -4.62%.
On 10-year performance, MINT leads with 2.72% vs -12.53% for SPDN. On fees, MINT is cheaper at 0.36% per year. On volatility, MINT has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MINT has performed better with a 2.72% return vs -12.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MINT is cheaper with a 0.36% expense ratio, compared with 0.50% for SPDN.
MINT has the higher dividend yield at 4.28%, compared with 4.02% for SPDN.
SPDN is categorized as Inverse Equities, while MINT is Ultrashort Bond. They also come from different issuers: Direxion and PIMCO. Their fees differ too: 0.50% for SPDN and 0.36% for MINT.
MINT currently has the higher Sharpe Ratio (17.51 vs -1.16), 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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