SPDN vs. VOO
Compare and contrast key facts about Direxion Daily S&P 500 Bear 1x Shares (SPDN) and Vanguard S&P 500 ETF (VOO).
SPDN and VOO 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. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010. Both SPDN and VOO 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. VOO - Performance Comparison
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SPDN vs. VOO - 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% |
VOO Vanguard S&P 500 ETF | -4.42% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Returns By Period
In the year-to-date period, SPDN achieves a 6.05% return, which is significantly higher than VOO's -4.42% return.
SPDN
- 1D
- -2.74%
- 1M
- 5.71%
- YTD
- 6.05%
- 6M
- 4.90%
- 1Y
- -11.05%
- 3Y*
- -9.57%
- 5Y*
- -7.35%
- 10Y*
- —
VOO
- 1D
- 2.86%
- 1M
- -5.01%
- YTD
- -4.42%
- 6M
- -1.84%
- 1Y
- 17.67%
- 3Y*
- 18.27%
- 5Y*
- 11.75%
- 10Y*
- 14.05%
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SPDN vs. VOO - Expense Ratio Comparison
SPDN has a 0.50% expense ratio, which is higher than VOO's 0.03% expense ratio.
Return for Risk
SPDN vs. VOO — Risk / Return Rank
SPDN
VOO
SPDN vs. VOO - 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 Vanguard S&P 500 ETF (VOO). 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 | VOO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.60 | 0.98 | -1.58 |
Sortino ratioReturn per unit of downside risk | -0.73 | 1.50 | -2.23 |
Omega ratioGain probability vs. loss probability | 0.89 | 1.23 | -0.33 |
Calmar ratioReturn relative to maximum drawdown | -0.44 | 1.53 | -1.97 |
Martin ratioReturn relative to average drawdown | -0.53 | 7.29 | -7.82 |
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 | VOO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.60 | 0.98 | -1.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | 0.70 | -1.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.63 | 0.83 | -1.47 |
Correlation
The correlation between SPDN and VOO is -0.99. 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. VOO - Dividend Comparison
SPDN's dividend yield for the trailing twelve months is around 3.56%, more than VOO's 1.19% 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% |
VOO Vanguard S&P 500 ETF | 1.19% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Drawdowns
SPDN vs. VOO - Drawdown Comparison
The maximum SPDN drawdown since its inception was -73.52%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for SPDN and VOO.
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Drawdown Indicators
| SPDN | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.52% | -33.99% | -39.53% |
Max Drawdown (1Y)Largest decline over 1 year | -26.44% | -11.98% | -14.46% |
Max Drawdown (5Y)Largest decline over 5 years | -39.78% | -24.52% | -15.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.99% | — |
Current DrawdownCurrent decline from peak | -71.44% | -6.29% | -65.15% |
Average DrawdownAverage peak-to-trough decline | -48.09% | -3.72% | -44.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.69% | 2.52% | +19.17% |
Volatility
SPDN vs. VOO - Volatility Comparison
Direxion Daily S&P 500 Bear 1x Shares (SPDN) and Vanguard S&P 500 ETF (VOO) have volatilities of 5.48% and 5.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPDN | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.48% | 5.29% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 9.67% | 9.44% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.51% | 18.10% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.87% | 16.82% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.13% | 17.99% | +0.14% |