SPDN vs. SQQQ
Compare and contrast key facts about Direxion Daily S&P 500 Bear 1x Shares (SPDN) and ProShares UltraPro Short QQQ (SQQQ).
SPDN and SQQQ 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. SQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-300%). It was launched on Feb 9, 2010. Both SPDN and SQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPDN or SQQQ.
Key characteristics
| SPDN | SQQQ | |
|---|---|---|
| YTD Return | -15.13% | -50.78% |
| 1Y Return | -20.94% | -61.24% |
| 3Y Return (Ann) | -5.81% | -39.55% |
| 5Y Return (Ann) | -13.97% | -59.81% |
| Sharpe Ratio | -1.71 | -1.17 |
| Sortino Ratio | -2.50 | -2.12 |
| Omega Ratio | 0.73 | 0.77 |
| Calmar Ratio | -0.30 | -0.61 |
| Martin Ratio | -1.56 | -1.49 |
| Ulcer Index | 13.41% | 40.86% |
| Daily Std Dev | 12.21% | 51.94% |
| Max Drawdown | -70.57% | -100.00% |
| Current Drawdown | -70.49% | -100.00% |
Correlation
The correlation between SPDN and SQQQ is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SPDN vs. SQQQ - Performance Comparison
In the year-to-date period, SPDN achieves a -15.13% return, which is significantly higher than SQQQ's -50.78% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SPDN vs. SQQQ - Expense Ratio Comparison
SPDN has a 0.50% expense ratio, which is lower than SQQQ's 0.95% expense ratio.
Risk-Adjusted Performance
SPDN vs. SQQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 Bear 1x Shares (SPDN) and ProShares UltraPro Short QQQ (SQQQ). 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.
Dividends
SPDN vs. SQQQ - Dividend Comparison
SPDN's dividend yield for the trailing twelve months is around 6.09%, less than SQQQ's 10.00% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
SPDN Direxion Daily S&P 500 Bear 1x Shares | 6.09% | 5.84% | 0.96% | 0.00% | 0.10% | 1.88% | 1.24% | 0.42% |
SQQQ ProShares UltraPro Short QQQ | 10.00% | 8.01% | 0.06% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Drawdowns
SPDN vs. SQQQ - Drawdown Comparison
The maximum SPDN drawdown since its inception was -70.57%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SPDN and SQQQ. For additional features, visit the drawdowns tool.
Volatility
SPDN vs. SQQQ - Volatility Comparison
The current volatility for Direxion Daily S&P 500 Bear 1x Shares (SPDN) is 3.88%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 15.44%. This indicates that SPDN experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.