SPUU vs. SMCY

Last updated Jul 16, 2026

SPUU (Direxion Daily S&P 500 Bull 2X ETF) and SMCY (YieldMax SMCI Option Income Strategy ETF) are both exchange-traded funds - SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily), while SMCY is a Derivative Income fund actively managed by YieldMax. SPUU is passively managed, while SMCY is actively managed. Over the past year, SPUU returned 40.81% vs -46.56% for SMCY. At a 0.48 correlation, their price movements are largely independent. SPUU charges 0.60%/yr vs 1.01%/yr for SMCY.

Performance

SPUU vs. SMCY - 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 YieldMax SMCI Option Income Strategy ETF (SMCY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPUU achieves a 19.51% return, which is significantly higher than SMCY's -11.68% return.

SPUU

• 1D: 0.80%
• 1M: 0.06%
• 6M: 16.67%
• YTD: 19.51%
• 1Y: 40.81%
• 3Y*: 33.71%
• 5Y*: 19.03%
• 10Y*: 24.06%

SMCY

• 1D: -1.90%
• 1M: -7.62%
• 6M: -10.27%
• YTD: -11.68%
• 1Y: -46.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPUU vs. SMCY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPUU Direxion Daily S&P 500 Bull 2X ETF	19.51%	26.55%	10.76%
SMCY YieldMax SMCI Option Income Strategy ETF	-11.68%	-15.41%	-33.36%

Correlation

The correlation between SPUU and SMCY is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Sep 12, 2024	0.48

The correlation between SPUU and SMCY has been stable across timeframes, ranging from 0.48 to 0.53 - a consistent structural relationship.

Return for Risk

SPUU vs. SMCY — Risk / Return Rank

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

SPUU

SPUU Risk / Return Rank: 59
SPUU Sharpe Ratio Rank: 61
SPUU Sortino Ratio Rank: 56
SPUU Omega Ratio Rank: 57
SPUU Calmar Ratio Rank: 56
SPUU Martin Ratio Rank: 65

SMCY

SMCY Risk / Return Rank: 4
SMCY Sharpe Ratio Rank: 4
SMCY Sortino Ratio Rank: 5
SMCY Omega Ratio Rank: 4
SMCY Calmar Ratio Rank: 3
SMCY Martin Ratio Rank: 3

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. SMCY - 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 YieldMax SMCI Option Income Strategy ETF (SMCY). 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	SMCY	Difference
Sharpe ratio: Return per unit of total volatility	1.62	-0.64	+2.27
Sortino ratio: Return per unit of downside risk	2.16	-0.60	+2.76
Omega ratio: Gain probability vs. loss probability	1.28	0.91	+0.37
Calmar ratio: Return relative to maximum drawdown	2.25	-0.77	+3.03
Martin ratio: Return relative to average drawdown	9.34	-1.22	+10.56

SPUU vs. SMCY - Sharpe Ratio Comparison

The current SPUU Sharpe Ratio is 1.62, which is higher than the SMCY Sharpe Ratio of -0.64. The chart below compares the historical Sharpe Ratios of SPUU and SMCY, 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. SMCY - Drawdown Comparison

The maximum SPUU drawdown since its inception was -59.35%, smaller than the maximum SMCY drawdown of -64.75%. Use the drawdown chart below to compare losses from any high point for SPUU and SMCY.

Drawdown Indicators

	SPUU	SMCY	Difference
Max Drawdown Largest peak-to-trough decline	-59.35%	-64.75%	+5.40%
Max Drawdown (1Y) Largest decline over 1 year	-18.19%	-60.43%	+42.24%
Max Drawdown (3Y) Largest decline over 3 years	-35.18%	—	—
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	-1.53%	-57.42%	+55.89%
Average Drawdown Average peak-to-trough decline	-9.46%	-37.89%	+28.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.38%	38.29%	-33.91%

Volatility

SPUU vs. SMCY - Volatility Comparison

The current volatility for Direxion Daily S&P 500 Bull 2X ETF (SPUU) is 7.53%, while YieldMax SMCI Option Income Strategy ETF (SMCY) has a volatility of 21.14%. This indicates that SPUU experiences smaller price fluctuations and is considered to be less risky than SMCY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUU	SMCY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.53%	21.14%	-13.61%
Volatility (6M) Calculated over the trailing 6-month period	20.11%	68.10%	-47.99%
Volatility (1Y) Calculated over the trailing 1-year period	25.26%	72.60%	-47.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.69%	79.94%	-46.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.75%	79.94%	-44.19%

SPUU vs. SMCY - Expense Ratio Comparison

SPUU has a 0.60% expense ratio, which is lower than SMCY's 1.01% expense ratio.

Dividends

SPUU vs. SMCY - Dividend Comparison

SPUU's dividend yield for the trailing twelve months is around 1.31%, less than SMCY's 209.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMCY YieldMax SMCI Option Income Strategy ETF	209.49%	231.43%	38.43%	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	1.31%	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 SMCY in my portfolio?

SPUU and SMCY have a correlation of 0.53, 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 SMCY?

SMCY has higher volatility (21.14%) compared to SPUU (7.53%). In terms of maximum drawdown, SPUU dropped -59.35% vs SMCY's -64.75%.

Which ETF is better, SPUU or SMCY?

On 1-year performance, SPUU leads with 40.81% vs -46.56% for SMCY. On fees, SPUU is cheaper at 0.60% per year. On volatility, SPUU has been the lower-risk option at 7.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPUU or SMCY?

Over the 1-year period, SPUU has performed better with a 40.81% return vs -46.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPUU or SMCY?

SPUU is cheaper with a 0.60% expense ratio, compared with 1.01% for SMCY.

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

SMCY has the higher dividend yield at 209.49%, compared with 1.31% for SPUU.

What is the main difference between SPUU and SMCY?

SPUU is categorized as Leveraged Equities, while SMCY is Derivative Income. They also come from different issuers: Direxion and YieldMax. Their fees differ too: 0.60% for SPUU and 1.01% for SMCY.

Which has better risk-adjusted returns?

SPUU currently has the higher Sharpe Ratio (1.62 vs -0.64), 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.