SPUU vs. MGK

Last updated Jun 14, 2026

SPUU (Direxion Daily S&P 500 Bull 2X ETF) and MGK (Vanguard Mega Cap Growth ETF) are both exchange-traded funds - SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily), while MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index. Both are passively managed. Over the past 10 years, SPUU returned 24.69%/yr vs 18.85%/yr for MGK. Their correlation of 0.91 suggests significant overlap in exposure. SPUU charges 0.60%/yr vs 0.05%/yr for MGK.

Performance

SPUU vs. MGK - 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 Vanguard Mega Cap Growth ETF (MGK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPUU achieves a 15.56% return, which is significantly higher than MGK's 5.33% return. Over the past 10 years, SPUU has outperformed MGK with an annualized return of 24.69%, while MGK has yielded a comparatively lower 18.85% annualized return.

SPUU

• 1D: 1.20%
• 1M: -2.20%
• YTD: 15.56%
• 6M: 15.85%
• 1Y: 47.93%
• 3Y*: 34.75%
• 5Y*: 19.14%
• 10Y*: 24.69%

MGK

• 1D: 0.22%
• 1M: -3.17%
• YTD: 5.33%
• 6M: 6.21%
• 1Y: 24.77%
• 3Y*: 24.17%
• 5Y*: 14.87%
• 10Y*: 18.85%

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

SPUU vs. MGK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPUU Direxion Daily S&P 500 Bull 2X ETF	15.56%	26.55%	44.25%	47.28%	-38.72%	61.27%	21.85%	66.84%	-14.59%	44.33%
MGK Vanguard Mega Cap Growth ETF	5.33%	20.67%	32.94%	51.67%	-33.59%	28.58%	41.01%	37.38%	-2.91%	29.49%

Correlation

The correlation between SPUU and MGK is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014	0.91

The correlation between SPUU and MGK has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

SPUU vs. MGK - Sectors Allocation Comparison

Sectors	SPUU	MGK
Technology	39.0%	56.1%
Financial Services	11.1%	4.5%
Communication Services	10.6%	17.3%
Consumer Cyclical	9.9%	12.8%
Healthcare	8.3%	4.5%
Industrials	7.8%	1.1%
Consumer Defensive	4.5%	0.4%
Energy	3.1%	-
Utilities	2.1%	1.2%
Real Estate	1.8%	1.3%
Basic Materials	1.7%	0.7%

Return for Risk

SPUU vs. MGK — Risk / Return Rank

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

SPUU

SPUU Risk / Return Rank: 60
SPUU Sharpe Ratio Rank: 63
SPUU Sortino Ratio Rank: 56
SPUU Omega Ratio Rank: 58
SPUU Calmar Ratio Rank: 56
SPUU Martin Ratio Rank: 66

MGK

MGK Risk / Return Rank: 39
MGK Sharpe Ratio Rank: 44
MGK Sortino Ratio Rank: 42
MGK Omega Ratio Rank: 42
MGK Calmar Ratio Rank: 31
MGK Martin Ratio Rank: 35

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. MGK - 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 Vanguard Mega Cap Growth ETF (MGK). 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	MGK	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.37	+0.44
Sortino ratio: Return per unit of downside risk	2.35	1.89	+0.46
Omega ratio: Gain probability vs. loss probability	1.31	1.24	+0.07
Calmar ratio: Return relative to maximum drawdown	2.47	1.37	+1.10
Martin ratio: Return relative to average drawdown	10.61	4.65	+5.96

SPUU vs. MGK - Sharpe Ratio Comparison

The current SPUU Sharpe Ratio is 1.81, which is higher than the MGK Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of SPUU and MGK, 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. MGK - Drawdown Comparison

The maximum SPUU drawdown since its inception was -59.35%, which is greater than MGK's maximum drawdown of -48.43%. Use the drawdown chart below to compare losses from any high point for SPUU and MGK.

Drawdown Indicators

	SPUU	MGK	Difference
Max Drawdown Largest peak-to-trough decline	-59.35%	-48.43%	-10.92%
Max Drawdown (1Y) Largest decline over 1 year	-18.19%	-16.85%	-1.34%
Max Drawdown (3Y) Largest decline over 3 years	-35.18%	-23.36%	-11.82%
Max Drawdown (5Y) Largest decline over 5 years	-46.59%	-36.01%	-10.58%
Max Drawdown (10Y) Largest decline over 10 years	-59.35%	-36.01%	-23.34%
Current Drawdown Current decline from peak	-4.78%	-5.63%	+0.85%
Average Drawdown Average peak-to-trough decline	-9.49%	-7.58%	-1.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	4.97%	-0.74%

Volatility

SPUU vs. MGK - Volatility Comparison

Direxion Daily S&P 500 Bull 2X ETF (SPUU) has a higher volatility of 8.72% compared to Vanguard Mega Cap Growth ETF (MGK) at 5.96%. This indicates that SPUU's price experiences larger fluctuations and is considered to be riskier than MGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUU	MGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.72%	5.96%	+2.76%
Volatility (6M) Calculated over the trailing 6-month period	19.45%	13.29%	+6.16%
Volatility (1Y) Calculated over the trailing 1-year period	24.81%	16.87%	+7.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.59%	22.72%	+10.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.83%	21.93%	+13.90%

SPUU vs. MGK - Expense Ratio Comparison

SPUU has a 0.60% expense ratio, which is higher than MGK's 0.05% expense ratio.

Dividends

SPUU vs. MGK - Dividend Comparison

SPUU's dividend yield for the trailing twelve months is around 1.39%, more than MGK's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGK Vanguard Mega Cap Growth ETF	0.33%	0.35%	0.43%	0.50%	0.70%	0.41%	0.65%	0.85%	1.12%	1.23%	1.53%	1.43%
SPUU Direxion Daily S&P 500 Bull 2X ETF	1.39%	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 MGK in my portfolio?

With a correlation of 0.92, SPUU and MGK move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SPUU or MGK?

SPUU has higher volatility (8.72%) compared to MGK (5.96%). In terms of maximum drawdown, SPUU dropped -59.35% vs MGK's -48.43%.

Which ETF is better, SPUU or MGK?

On 10-year performance, SPUU leads with 24.69% vs 18.85% for MGK. On fees, MGK is cheaper at 0.05% per year. On volatility, MGK has been the lower-risk option at 5.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPUU or MGK?

Over the 10-year period, SPUU has performed better with a 24.69% return vs 18.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPUU or MGK?

MGK is cheaper with a 0.05% expense ratio, compared with 0.60% for SPUU.

Which ETF pays a higher dividend yield, SPUU or MGK?

SPUU has the higher dividend yield at 1.39%, compared with 0.33% for MGK.

What is the main difference between SPUU and MGK?

SPUU is categorized as Leveraged Equities, while MGK is Large Cap Growth Equities. SPUU tracks S&P 500 Index (200% Daily), while MGK tracks CRSP US Mega Cap Growth Index. They also come from different issuers: Direxion and Vanguard. Their fees differ too: 0.60% for SPUU and 0.05% for MGK.

Which has better risk-adjusted returns?

SPUU currently has the higher Sharpe Ratio (1.81 vs 1.37), 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.