SPRX vs. TSXU

Last updated Aug 2, 2026

SPRX (Spear Alpha ETF) and TSXU (Direxion Daily Semiconductors Top 5 Bull 2X Shares) are both exchange-traded funds - SPRX is a Technology Equities fund actively managed by Spear, while TSXU is a Leveraged Equities fund tracking the Solactive Semiconductor Top 5 Index (2x). SPRX is actively managed, while TSXU is passively managed. Their correlation of 0.80 means they have usually moved in the same direction. SPRX charges 0.75%/yr vs 1.05%/yr for TSXU.

Performance

SPRX vs. TSXU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spear Alpha ETF (SPRX) and Direxion Daily Semiconductors Top 5 Bull 2X Shares (TSXU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPRX achieves a 10.60% return, which is significantly lower than TSXU's 78.79% return.

SPRX

• 1D: 1.12%
• 1M: -16.08%
• 6M: 5.15%
• YTD: 10.60%
• 1Y: 32.41%
• 3Y*: 29.23%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.44%

TSXU

• 1D: -0.46%
• 1M: -9.68%
• 6M: 50.24%
• YTD: 78.79%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SPRX Spear Alpha ETF	$6.60M	$5.75M	$7.61M
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	$7.61M	$4.95M	$2.75M

SPRX vs. TSXU - Yearly Performance Comparison

	2026 (YTD)	2025
SPRX Spear Alpha ETF	10.60%	-0.08%
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	78.79%	37.96%

Correlation

The correlation between SPRX and TSXU is 0.80, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.80

Return for Risk

SPRX vs. TSXU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPRX

SPRX Risk / Return Rank: 27
SPRX Sharpe Ratio Rank: 24
SPRX Sortino Ratio Rank: 28
SPRX Omega Ratio Rank: 27
SPRX Calmar Ratio Rank: 25
SPRX Martin Ratio Rank: 30

TSXU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPRX vs. TSXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spear Alpha ETF (SPRX) and Direxion Daily Semiconductors Top 5 Bull 2X Shares (TSXU). 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.

	SPRX	TSXU	Difference
Sharpe ratio: Return per unit of total volatility	0.54	—	—
Sortino ratio: Return per unit of downside risk	1.05	—	—
Omega ratio: Gain probability vs. loss probability	1.13	—	—
Calmar ratio: Return relative to maximum drawdown	0.78	—	—
Martin ratio: Return relative to average drawdown	2.74	—	—

Drawdowns

SPRX vs. TSXU - Drawdown Comparison

The maximum SPRX drawdown since its inception was -51.21%, which is greater than TSXU's maximum drawdown of -38.13%. Use the drawdown chart below to compare losses from any high point for SPRX and TSXU.

Drawdown Indicators

	SPRX	TSXU	Difference
Max Drawdown Largest peak-to-trough decline	-51.21%	-38.13%	-13.08%
Max Drawdown (1Y) Largest decline over 1 year	-35.87%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-42.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-51.21%	—	—
Current Drawdown Current decline from peak	-27.55%	-27.71%	+0.16%
Average Drawdown Average peak-to-trough decline	-17.53%	-11.70%	-5.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.18%	—	—

Volatility

Volatility by Period

	SPRX	TSXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	43.65%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	52.09%	92.86%	-40.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.22%	92.86%	-49.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.22%	92.86%	-49.64%

SPRX vs. TSXU - Expense Ratio Comparison

SPRX has a 0.75% expense ratio, which is lower than TSXU's 1.05% expense ratio.

Dividends

SPRX vs. TSXU - Dividend Comparison

SPRX has not paid dividends to shareholders, while TSXU's dividend yield for the trailing twelve months is around 1.96%.

Position	TTM	2025	2024	2023	2022	2021
SPRX Spear Alpha ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	1.96%	2.54%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPRX and TSXU in my portfolio?

SPRX and TSXU have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPRX or TSXU?

On fees, SPRX is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPRX or TSXU?

SPRX is cheaper with a 0.75% expense ratio, compared with 1.05% for TSXU.

Which ETF pays a higher dividend yield, SPRX or TSXU?

TSXU has the higher dividend yield at 1.96%, compared with 0.00% for SPRX.

What is the main difference between SPRX and TSXU?

SPRX is categorized as Technology Equities, while TSXU is Leveraged Equities. They also come from different issuers: Spear and Direxion. Their fees differ too: 0.75% for SPRX and 1.05% for TSXU.