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SPDN vs. SQQQ
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between SPDN and SQQQ is 0.90, 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.


-0.50.00.51.0
Correlation: 0.9

Performance

SPDN vs. SQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily S&P 500 Bear 1x Shares (SPDN) and ProShares UltraPro Short QQQ (SQQQ). The values are adjusted to include any dividend payments, if applicable.

-100.00%-90.00%-80.00%-70.00%-60.00%NovemberDecember2025FebruaryMarchApril
-62.62%
-99.83%
SPDN
SQQQ

Key characteristics

Sharpe Ratio

SPDN:

0.55

SQQQ:

0.04

Sortino Ratio

SPDN:

1.06

SQQQ:

0.58

Omega Ratio

SPDN:

1.12

SQQQ:

1.06

Calmar Ratio

SPDN:

0.12

SQQQ:

0.03

Martin Ratio

SPDN:

0.90

SQQQ:

0.07

Ulcer Index

SPDN:

9.74%

SQQQ:

38.71%

Daily Std Dev

SPDN:

15.82%

SQQQ:

63.60%

Max Drawdown

SPDN:

-70.87%

SQQQ:

-100.00%

Current Drawdown

SPDN:

-64.68%

SQQQ:

-99.99%

Returns By Period

In the year-to-date period, SPDN achieves a 16.62% return, which is significantly lower than SQQQ's 64.08% return.


SPDN

YTD

16.62%

1M

14.84%

6M

15.77%

1Y

7.33%

5Y*

-13.22%

10Y*

N/A

SQQQ

YTD

64.08%

1M

57.17%

6M

41.29%

1Y

-1.84%

5Y*

-53.49%

10Y*

-49.23%

*Annualized

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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.


Expense ratio chart for SQQQ: current value is 0.95%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SQQQ: 0.95%
Expense ratio chart for SPDN: current value is 0.50%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SPDN: 0.50%

Risk-Adjusted Performance

SPDN vs. SQQQ — Risk-Adjusted Performance Rank

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

SPDN
The Risk-Adjusted Performance Rank of SPDN is 5959
Overall Rank
The Sharpe Ratio Rank of SPDN is 6767
Sharpe Ratio Rank
The Sortino Ratio Rank of SPDN is 7373
Sortino Ratio Rank
The Omega Ratio Rank of SPDN is 6969
Omega Ratio Rank
The Calmar Ratio Rank of SPDN is 4141
Calmar Ratio Rank
The Martin Ratio Rank of SPDN is 4848
Martin Ratio Rank

SQQQ
The Risk-Adjusted Performance Rank of SQQQ is 3737
Overall Rank
The Sharpe Ratio Rank of SQQQ is 3030
Sharpe Ratio Rank
The Sortino Ratio Rank of SQQQ is 5353
Sortino Ratio Rank
The Omega Ratio Rank of SQQQ is 4646
Omega Ratio Rank
The Calmar Ratio Rank of SQQQ is 2929
Calmar Ratio Rank
The Martin Ratio Rank of SQQQ is 2828
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

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.


The chart of Sharpe ratio for SPDN, currently valued at 0.55, compared to the broader market-1.000.001.002.003.004.00
SPDN: 0.55
SQQQ: 0.04
The chart of Sortino ratio for SPDN, currently valued at 1.06, compared to the broader market-2.000.002.004.006.008.0010.00
SPDN: 1.06
SQQQ: 0.58
The chart of Omega ratio for SPDN, currently valued at 1.12, compared to the broader market0.501.001.502.002.50
SPDN: 1.12
SQQQ: 1.06
The chart of Calmar ratio for SPDN, currently valued at 0.12, compared to the broader market0.005.0010.0015.00
SPDN: 0.12
SQQQ: 0.03
The chart of Martin ratio for SPDN, currently valued at 0.90, compared to the broader market0.0020.0040.0060.0080.00
SPDN: 0.90
SQQQ: 0.07

The current SPDN Sharpe Ratio is 0.55, which is higher than the SQQQ Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of SPDN and SQQQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-2.00-1.50-1.00-0.500.000.50NovemberDecember2025FebruaryMarchApril
0.55
0.04
SPDN
SQQQ

Dividends

SPDN vs. SQQQ - Dividend Comparison

SPDN's dividend yield for the trailing twelve months is around 4.12%, less than SQQQ's 5.66% yield.


TTM20242023202220212020201920182017
SPDN
Direxion Daily S&P 500 Bear 1x Shares
4.12%5.32%5.84%0.96%0.00%0.10%1.88%1.24%0.42%
SQQQ
ProShares UltraPro Short QQQ
5.66%10.23%8.01%0.28%0.00%2.15%2.92%1.47%0.14%

Drawdowns

SPDN vs. SQQQ - Drawdown Comparison

The maximum SPDN drawdown since its inception was -70.87%, 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.


-100.00%-90.00%-80.00%-70.00%-60.00%NovemberDecember2025FebruaryMarchApril
-64.68%
-99.86%
SPDN
SQQQ

Volatility

SPDN vs. SQQQ - Volatility Comparison

The current volatility for Direxion Daily S&P 500 Bear 1x Shares (SPDN) is 8.85%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 29.88%. 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.


0.00%5.00%10.00%15.00%20.00%25.00%30.00%NovemberDecember2025FebruaryMarchApril
8.85%
29.88%
SPDN
SQQQ