SPDN vs. VRT

Last updated Jun 14, 2026

SPDN (Direxion Daily S&P 500 Bear 1x Shares) is Inverse Equities fund tracking the S&P 500 Index, while VRT (Vertiv Holdings Co.) is a stock. Over the past 5 years, SPDN returned -8.47%/yr vs 63.29%/yr for VRT. At a correlation of -0.52, they often move in opposite directions.

Performance

SPDN vs. VRT - 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 Vertiv Holdings Co. (VRT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPDN achieves a -6.10% return, which is significantly lower than VRT's 86.99% 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%

VRT

• 1D: 1.68%
• 1M: -18.35%
• YTD: 86.99%
• 6M: 87.85%
• 1Y: 173.26%
• 3Y*: 138.33%
• 5Y*: 63.29%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPDN vs. VRT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
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%	11.70%
VRT Vertiv Holdings Co.	86.99%	42.80%	136.82%	251.81%	-45.25%	33.80%	69.36%	12.55%	1.03%

Correlation

The correlation between SPDN and VRT is -0.59, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.59
Correlation (3Y) Calculated over the trailing 3-year period	-0.59
Correlation (5Y) Calculated over the trailing 5-year period	-0.62
Correlation (All Time) Calculated using the full available price history since Jul 30, 2018	-0.52

The correlation between SPDN and VRT has been stable across timeframes, ranging from -0.62 to -0.52 - a consistent structural relationship.

Return for Risk

SPDN vs. VRT — Risk / Return Rank

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

SPDN

SPDN Risk / Return Rank: 1
SPDN Sharpe Ratio Rank: 1
SPDN Sortino Ratio Rank: 1
SPDN Omega Ratio Rank: 1
SPDN Calmar Ratio Rank: 2
SPDN Martin Ratio Rank: 1

VRT

VRT Risk / Return Rank: 94
VRT Sharpe Ratio Rank: 95
VRT Sortino Ratio Rank: 92
VRT Omega Ratio Rank: 91
VRT Calmar Ratio Rank: 95
VRT Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPDN vs. VRT - 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 Vertiv Holdings Co. (VRT). 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	VRT	Difference
Sharpe ratio: Return per unit of total volatility	-1.16	2.85	-4.01
Sortino ratio: Return per unit of downside risk	-1.66	3.34	-5.00
Omega ratio: Gain probability vs. loss probability	0.82	1.41	-0.59
Calmar ratio: Return relative to maximum drawdown	-0.82	6.55	-7.37
Martin ratio: Return relative to average drawdown	-1.46	17.79	-19.26

SPDN vs. VRT - Sharpe Ratio Comparison

The current SPDN Sharpe Ratio is -1.16, which is lower than the VRT Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of SPDN and VRT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPDN vs. VRT - Drawdown Comparison

The maximum SPDN drawdown since its inception was -75.31%, which is greater than VRT's maximum drawdown of -71.24%. Use the drawdown chart below to compare losses from any high point for SPDN and VRT.

Drawdown Indicators

	SPDN	VRT	Difference
Max Drawdown Largest peak-to-trough decline	-75.31%	-71.24%	-4.07%
Max Drawdown (1Y) Largest decline over 1 year	-17.73%	-25.32%	+7.59%
Max Drawdown (3Y) Largest decline over 3 years	-38.24%	-61.28%	+23.04%
Max Drawdown (5Y) Largest decline over 5 years	-43.85%	-71.24%	+27.39%
Max Drawdown (10Y) Largest decline over 10 years	-75.31%	—	—
Current Drawdown Current decline from peak	-74.71%	-19.50%	-55.21%
Average Drawdown Average peak-to-trough decline	-48.59%	-16.23%	-32.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.89%	9.30%	+0.59%

Volatility

SPDN vs. VRT - Volatility Comparison

The current volatility for Direxion Daily S&P 500 Bear 1x Shares (SPDN) is 4.18%, while Vertiv Holdings Co. (VRT) has a volatility of 16.12%. This indicates that SPDN experiences smaller price fluctuations and is considered to be less risky than VRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPDN	VRT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	16.12%	-11.94%
Volatility (6M) Calculated over the trailing 6-month period	9.71%	45.82%	-36.11%
Volatility (1Y) Calculated over the trailing 1-year period	12.52%	58.29%	-45.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	61.88%	-44.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.05%	54.61%	-36.56%

Dividends

SPDN vs. VRT - Dividend Comparison

SPDN's dividend yield for the trailing twelve months is around 4.02%, more than VRT's 0.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
VRT Vertiv Holdings Co.	0.07%	0.11%	0.10%	0.05%	0.07%	0.04%	0.05%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPDN and VRT in my portfolio?

SPDN and VRT have a correlation of -0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPDN or VRT?

VRT has higher volatility (16.12%) compared to SPDN (4.18%). In terms of maximum drawdown, SPDN dropped -75.31% vs VRT's -71.24%.

Which has better risk-adjusted returns?

VRT currently has the higher Sharpe Ratio (2.85 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.