SPUU vs. NXT

Last updated Jun 3, 2026

SPUU (Direxion Daily S&P 500 Bull 2x Shares) is Leveraged Equities fund tracking the S&P 500 Index (200%), while NXT (Nextracker Inc) is a stock. Over the past 3 years, SPUU returned 38.80%/yr vs 55.14%/yr for NXT. At a 0.36 correlation, their price movements are largely independent.

Performance

SPUU vs. NXT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily S&P 500 Bull 2x Shares (SPUU) and Nextracker Inc (NXT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPUU achieves a 21.37% return, which is significantly lower than NXT's 74.74% return.

SPUU

• 1D: 0.09%
• 1M: 10.49%
• YTD: 21.37%
• 6M: 21.39%
• 1Y: 57.39%
• 3Y*: 38.80%
• 5Y*: 20.89%
• 10Y*: 24.93%

NXT

• 1D: 4.96%
• 1M: 26.92%
• YTD: 74.74%
• 6M: 75.77%
• 1Y: 175.31%
• 3Y*: 55.14%
• 5Y*: —
• 10Y*: —

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

SPUU vs. NXT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPUU Direxion Daily S&P 500 Bull 2x Shares	21.37%	26.55%	44.25%	30.95%
NXT Nextracker Inc	74.74%	138.46%	-22.03%	53.81%

Correlation

The correlation between SPUU and NXT is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (All Time) Calculated using the full available price history since Feb 10, 2023	0.36

Return for Risk

SPUU vs. NXT — Risk / Return Rank

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

SPUU

SPUU Risk / Return Rank: 68
SPUU Sharpe Ratio Rank: 73
SPUU Sortino Ratio Rank: 65
SPUU Omega Ratio Rank: 66
SPUU Calmar Ratio Rank: 65
SPUU Martin Ratio Rank: 74

NXT

NXT Risk / Return Rank: 91
NXT Sharpe Ratio Rank: 93
NXT Sortino Ratio Rank: 89
NXT Omega Ratio Rank: 86
NXT Calmar Ratio Rank: 95
NXT Martin Ratio Rank: 93

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. NXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 Bull 2x Shares (SPUU) and Nextracker Inc (NXT). 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.

	SPUU	NXT	Difference
Sharpe ratio Return per unit of total volatility	2.42	2.78	-0.36
Sortino ratio Return per unit of downside risk	3.03	3.17	-0.14
Omega ratio Gain probability vs. loss probability	1.40	1.38	+0.02
Calmar ratio Return relative to maximum drawdown	3.25	7.24	-4.00
Martin ratio Return relative to average drawdown	14.34	15.46	-1.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPUU vs. NXT - Sharpe Ratio Comparison

The current SPUU Sharpe Ratio is 2.42, which is comparable to the NXT Sharpe Ratio of 2.78. The chart below compares the historical Sharpe Ratios of SPUU and NXT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPUU	NXT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.78	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	1.05	-0.41

Drawdowns

SPUU vs. NXT - Drawdown Comparison

The maximum SPUU drawdown since its inception was -59.35%, which is greater than NXT's maximum drawdown of -48.61%. Use the drawdown chart below to compare losses from any high point for SPUU and NXT.

Drawdown Indicators

	SPUU	NXT	Difference
Max Drawdown Largest peak-to-trough decline	-59.35%	-48.61%	-10.74%
Max Drawdown (1Y) Largest decline over 1 year	-18.19%	-23.27%	+5.08%
Max Drawdown (3Y) Largest decline over 3 years	-35.18%	-48.61%	+13.43%
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	0.00%	-2.67%	+2.67%
Average Drawdown Average peak-to-trough decline	-9.51%	-15.34%	+5.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	10.90%	-6.78%

Volatility

SPUU vs. NXT - Volatility Comparison

The current volatility for Direxion Daily S&P 500 Bull 2x Shares (SPUU) is 5.59%, while Nextracker Inc (NXT) has a volatility of 24.23%. This indicates that SPUU experiences smaller price fluctuations and is considered to be less risky than NXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUU	NXT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.59%	24.23%	-18.64%
Volatility (6M) Calculated over the trailing 6-month period	18.07%	47.13%	-29.06%
Volatility (1Y) Calculated over the trailing 1-year period	23.87%	63.58%	-39.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.46%	60.28%	-26.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.77%	60.28%	-24.51%

Dividends

SPUU vs. NXT - Dividend Comparison

SPUU's dividend yield for the trailing twelve months is around 1.32%, while NXT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NXT Nextracker Inc	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 Shares	1.32%	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 NXT in my portfolio?

SPUU and NXT have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPUU or NXT?

NXT has higher volatility (24.23%) compared to SPUU (5.59%). In terms of maximum drawdown, SPUU dropped -59.35% vs NXT's -48.61%.

Which has better risk-adjusted returns?

NXT currently has the higher Sharpe Ratio (2.78 vs 2.42), 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.