SPUU vs. LQQ.PA

Last updated Jun 16, 2026

SPUU (Direxion Daily S&P 500 Bull 2X ETF) and LQQ.PA (Lyxor UCITS NASDAQ-100 Daily Leverage) are both exchange-traded funds - SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily), while LQQ.PA is a Nasdaq-100 fund tracking the Nasdaq 100® Leverage (2x) index. Both are passively managed. Over the past 3 years, SPUU returned 35.39%/yr vs 45.59%/yr for LQQ.PA. A 0.59 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

SPUU vs. LQQ.PA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily S&P 500 Bull 2X ETF (SPUU) and Lyxor UCITS NASDAQ-100 Daily Leverage (LQQ.PA). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPUU is traded in USD, while LQQ.PA is traded in EUR. To make them comparable, the LQQ.PA values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPUU achieves a 19.44% return, which is significantly lower than LQQ.PA's 38.52% return.

SPUU

• 1D: 3.36%
• 1M: 3.66%
• YTD: 19.44%
• 6M: 19.99%
• 1Y: 52.90%
• 3Y*: 35.39%
• 5Y*: 20.14%
• 10Y*: 25.04%

LQQ.PA

• 1D: 5.65%
• 1M: 7.74%
• YTD: 38.52%
• 6M: 40.94%
• 1Y: 81.81%
• 3Y*: 45.59%
• 5Y*: —
• 10Y*: —

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

SPUU vs. LQQ.PA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPUU Direxion Daily S&P 500 Bull 2X ETF	19.44%	26.55%	44.25%	42.47%
LQQ.PA Lyxor UCITS NASDAQ-100 Daily Leverage	38.52%	29.49%	47.29%	82.44%

Correlation

The correlation between SPUU and LQQ.PA is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Mar 10, 2023	0.59

The correlation between SPUU and LQQ.PA has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.

Return for Risk

SPUU vs. LQQ.PA — Risk / Return Rank

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

SPUU

SPUU Risk / Return Rank: 69
SPUU Sharpe Ratio Rank: 74
SPUU Sortino Ratio Rank: 65
SPUU Omega Ratio Rank: 67
SPUU Calmar Ratio Rank: 64
SPUU Martin Ratio Rank: 74

LQQ.PA

LQQ.PA Risk / Return Rank: 76
LQQ.PA Sharpe Ratio Rank: 86
LQQ.PA Sortino Ratio Rank: 76
LQQ.PA Omega Ratio Rank: 75
LQQ.PA Calmar Ratio Rank: 78
LQQ.PA Martin Ratio Rank: 67

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.

SPUU vs. LQQ.PA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 Bull 2X ETF (SPUU) and Lyxor UCITS NASDAQ-100 Daily Leverage (LQQ.PA). 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.

	SPUU	LQQ.PA	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.48	-0.34
Sortino ratio: Return per unit of downside risk	2.69	3.10	-0.40
Omega ratio: Gain probability vs. loss probability	1.36	1.39	-0.03
Calmar ratio: Return relative to maximum drawdown	2.92	3.53	-0.61
Martin ratio: Return relative to average drawdown	12.56	11.73	+0.82

SPUU vs. LQQ.PA - Sharpe Ratio Comparison

The current SPUU Sharpe Ratio is 2.14, which is comparable to the LQQ.PA Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of SPUU and LQQ.PA, 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

SPUU vs. LQQ.PA - Drawdown Comparison

The maximum SPUU drawdown since its inception was -59.35%, which is greater than LQQ.PA's maximum drawdown of -42.34%. Use the drawdown chart below to compare losses from any high point for SPUU and LQQ.PA.

Drawdown Indicators

	SPUU	LQQ.PA	Difference
Max Drawdown Largest peak-to-trough decline	-59.35%	-42.34%	-17.01%
Max Drawdown (1Y) Largest decline over 1 year	-18.19%	-22.81%	+4.62%
Max Drawdown (3Y) Largest decline over 3 years	-35.18%	-42.34%	+7.16%
Max Drawdown (5Y) Largest decline over 5 years	-46.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-59.35%	—	—
Current Drawdown Current decline from peak	-1.59%	-1.42%	-0.17%
Average Drawdown Average peak-to-trough decline	-9.49%	-6.61%	-2.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.22%	6.90%	-2.68%

Volatility

SPUU vs. LQQ.PA - Volatility Comparison

The current volatility for Direxion Daily S&P 500 Bull 2X ETF (SPUU) is 9.23%, while Lyxor UCITS NASDAQ-100 Daily Leverage (LQQ.PA) has a volatility of 12.75%. This indicates that SPUU experiences smaller price fluctuations and is considered to be less risky than LQQ.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUU	LQQ.PA	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.23%	12.75%	-3.52%
Volatility (6M) Calculated over the trailing 6-month period	19.71%	25.30%	-5.59%
Volatility (1Y) Calculated over the trailing 1-year period	24.95%	32.54%	-7.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.64%	35.74%	-2.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.84%	35.74%	+0.10%

SPUU vs. LQQ.PA - Expense Ratio Comparison

Both SPUU and LQQ.PA have an expense ratio of 0.60%.

Dividends

SPUU vs. LQQ.PA - Dividend Comparison

SPUU's dividend yield for the trailing twelve months is around 1.34%, while LQQ.PA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LQQ.PA Lyxor UCITS NASDAQ-100 Daily Leverage	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPUU Direxion Daily S&P 500 Bull 2X ETF	1.34%	1.63%	0.55%	0.83%	0.88%	3.04%	8.03%	1.80%	5.50%	6.96%	8.08%	4.42%

Frequently Asked Questions

Can I hold both SPUU and LQQ.PA in my portfolio?

SPUU and LQQ.PA have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPUU or LQQ.PA?

Both ETFs have the same 0.60% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPUU or LQQ.PA?

SPUU and LQQ.PA have the same expense ratio: 0.60% per year.

What is the main difference between SPUU and LQQ.PA?

SPUU is categorized as Leveraged Equities, while LQQ.PA is Nasdaq-100. SPUU tracks S&P 500 Index (200% Daily), while LQQ.PA tracks Nasdaq 100® Leverage (2x) index. They also come from different issuers: Direxion and Amundi.