SPUU vs. PRN

Last updated Jun 14, 2026

SPUU (Direxion Daily S&P 500 Bull 2X ETF) and PRN (Invesco DWA Industrials Momentum ETF) are both exchange-traded funds - SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily), while PRN is a Momentum fund tracking the DWA Industrials Technical Leaders Index. Both are passively managed. Over the past 10 years, SPUU returned 24.69%/yr vs 18.49%/yr for PRN. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

SPUU vs. PRN - 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 Invesco DWA Industrials Momentum ETF (PRN). 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 lower than PRN's 40.09% return. Over the past 10 years, SPUU has outperformed PRN with an annualized return of 24.69%, while PRN has yielded a comparatively lower 18.49% 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%

PRN

• 1D: 1.02%
• 1M: -1.28%
• YTD: 40.09%
• 6M: 38.91%
• 1Y: 62.65%
• 3Y*: 34.70%
• 5Y*: 20.00%
• 10Y*: 18.49%

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

SPUU vs. PRN - 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%
PRN Invesco DWA Industrials Momentum ETF	40.09%	13.74%	30.35%	37.96%	-25.09%	25.21%	36.39%	34.52%	-16.19%	22.82%

Correlation

The correlation between SPUU and PRN is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014	0.78

The correlation between SPUU and PRN has been stable across timeframes, ranging from 0.71 to 0.79 - a consistent structural relationship.

SPUU vs. PRN - Sectors Allocation Comparison

Sectors	SPUU	PRN
Technology	39.0%	18.6%
Financial Services	11.1%	0.2%
Communication Services	10.6%	-
Consumer Cyclical	9.9%	1.2%
Healthcare	8.3%	-
Industrials	7.8%	80.0%
Consumer Defensive	4.5%	-
Energy	3.1%	1.6%
Utilities	2.1%	-
Real Estate	1.8%	-
Basic Materials	1.7%	1.8%

Return for Risk

SPUU vs. PRN — 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

PRN

PRN Risk / Return Rank: 74
PRN Sharpe Ratio Rank: 73
PRN Sortino Ratio Rank: 64
PRN Omega Ratio Rank: 65
PRN Calmar Ratio Rank: 87
PRN Martin Ratio Rank: 82

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. PRN - 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 Invesco DWA Industrials Momentum ETF (PRN). 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	PRN	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.04	-0.23
Sortino ratio: Return per unit of downside risk	2.35	2.60	-0.26
Omega ratio: Gain probability vs. loss probability	1.31	1.34	-0.03
Calmar ratio: Return relative to maximum drawdown	2.47	4.33	-1.86
Martin ratio: Return relative to average drawdown	10.61	14.20	-3.59

SPUU vs. PRN - Sharpe Ratio Comparison

The current SPUU Sharpe Ratio is 1.81, which is comparable to the PRN Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of SPUU and PRN, 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. PRN - Drawdown Comparison

The maximum SPUU drawdown since its inception was -59.35%, roughly equal to the maximum PRN drawdown of -59.88%. Use the drawdown chart below to compare losses from any high point for SPUU and PRN.

Drawdown Indicators

	SPUU	PRN	Difference
Max Drawdown Largest peak-to-trough decline	-59.35%	-59.88%	+0.53%
Max Drawdown (1Y) Largest decline over 1 year	-18.19%	-14.15%	-4.04%
Max Drawdown (3Y) Largest decline over 3 years	-35.18%	-30.78%	-4.40%
Max Drawdown (5Y) Largest decline over 5 years	-46.59%	-34.84%	-11.75%
Max Drawdown (10Y) Largest decline over 10 years	-59.35%	-36.27%	-23.08%
Current Drawdown Current decline from peak	-4.78%	-1.81%	-2.97%
Average Drawdown Average peak-to-trough decline	-9.49%	-10.83%	+1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	4.30%	-0.07%

Volatility

SPUU vs. PRN - Volatility Comparison

The current volatility for Direxion Daily S&P 500 Bull 2X ETF (SPUU) is 8.72%, while Invesco DWA Industrials Momentum ETF (PRN) has a volatility of 12.21%. This indicates that SPUU experiences smaller price fluctuations and is considered to be less risky than PRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUU	PRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.72%	12.21%	-3.49%
Volatility (6M) Calculated over the trailing 6-month period	19.45%	24.73%	-5.28%
Volatility (1Y) Calculated over the trailing 1-year period	24.81%	30.02%	-5.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.59%	25.33%	+8.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.83%	24.33%	+11.50%

SPUU vs. PRN - Expense Ratio Comparison

Both SPUU and PRN have an expense ratio of 0.60%.

Dividends

SPUU vs. PRN - Dividend Comparison

SPUU's dividend yield for the trailing twelve months is around 1.39%, more than PRN's 0.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRN Invesco DWA Industrials Momentum ETF	0.12%	0.17%	0.39%	0.52%	0.82%	0.11%	0.10%	0.42%	0.29%	0.60%	0.57%	0.44%
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 PRN in my portfolio?

SPUU and PRN have a correlation of 0.71, 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 PRN?

PRN has higher volatility (12.21%) compared to SPUU (8.72%). In terms of maximum drawdown, SPUU dropped -59.35% vs PRN's -59.88%.

Which ETF is better, SPUU or PRN?

On 10-year performance, SPUU leads with 24.69% vs 18.49% for PRN. Both ETFs have the same 0.60% expense ratio. On volatility, SPUU has been the lower-risk option at 8.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPUU or PRN?

Over the 10-year period, SPUU has performed better with a 24.69% return vs 18.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPUU or PRN?

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

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

SPUU has the higher dividend yield at 1.39%, compared with 0.12% for PRN.

What is the main difference between SPUU and PRN?

SPUU is categorized as Leveraged Equities, while PRN is Momentum. SPUU tracks S&P 500 Index (200% Daily), while PRN tracks DWA Industrials Technical Leaders Index. They also come from different issuers: Direxion and Invesco.

Which has better risk-adjusted returns?

PRN currently has the higher Sharpe Ratio (2.04 vs 1.81), 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.