SPUU vs. SPYT

Last updated Jun 4, 2026

SPUU (Direxion Daily S&P 500 Bull 2x Shares) and SPYT (Defiance S&P 500 Income Target ETF) are both exchange-traded funds - SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200%), while SPYT is a Derivative Income fund actively managed by Defiance. SPUU is passively managed, while SPYT is actively managed. Over the past year, SPUU returned 53.61% vs 24.84% for SPYT. With a 0.95 correlation, they move nearly in lockstep. SPUU charges 0.64%/yr vs 0.87%/yr for SPYT.

Performance

SPUU vs. SPYT - 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 Defiance S&P 500 Income Target ETF (SPYT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPUU achieves a 19.82% return, which is significantly higher than SPYT's 10.44% return.

SPUU

• 1D: -1.27%
• 1M: 10.01%
• YTD: 19.82%
• 6M: 19.11%
• 1Y: 53.61%
• 3Y*: 38.21%
• 5Y*: 20.19%
• 10Y*: 24.77%

SPYT

• 1D: 0.11%
• 1M: 4.39%
• YTD: 10.44%
• 6M: 10.75%
• 1Y: 24.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPUU vs. SPYT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPUU Direxion Daily S&P 500 Bull 2x Shares	19.82%	26.55%	24.58%
SPYT Defiance S&P 500 Income Target ETF	10.44%	12.41%	12.94%

Correlation

The correlation between SPUU and SPYT is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024	0.95

The correlation between SPUU and SPYT has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

SPUU vs. SPYT - Sectors Allocation Comparison

Sectors	SPUU	SPYT
Technology	16.5%	36.2%
Financial Services	4.8%	11.9%
Communication Services	4.6%	10.9%
Consumer Cyclical	4.2%	10.1%
Healthcare	3.6%	8.4%
Industrials	3.3%	8.1%
Consumer Defensive	2.0%	4.9%
Energy	1.4%	3.5%
Utilities	1.1%	2.3%
Real Estate	0.8%	1.9%
Basic Materials	0.7%	1.8%

Return for Risk

SPUU vs. SPYT — Risk / Return Rank

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

SPUU

SPUU Risk / Return Rank: 63
SPUU Sharpe Ratio Rank: 67
SPUU Sortino Ratio Rank: 60
SPUU Omega Ratio Rank: 60
SPUU Calmar Ratio Rank: 59
SPUU Martin Ratio Rank: 69

SPYT

SPYT Risk / Return Rank: 71
SPYT Sharpe Ratio Rank: 69
SPYT Sortino Ratio Rank: 68
SPYT Omega Ratio Rank: 76
SPYT Calmar Ratio Rank: 63
SPYT Martin Ratio Rank: 77

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. SPYT - 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 Defiance S&P 500 Income Target ETF (SPYT). 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	SPYT	Difference
Sharpe ratio Return per unit of total volatility	2.26	2.30	-0.05
Sortino ratio Return per unit of downside risk	2.87	3.16	-0.29
Omega ratio Gain probability vs. loss probability	1.38	1.46	-0.08
Calmar ratio Return relative to maximum drawdown	2.96	3.20	-0.24
Martin ratio Return relative to average drawdown	13.06	14.93	-1.87
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. SPYT - Sharpe Ratio Comparison

The current SPUU Sharpe Ratio is 2.26, which is comparable to the SPYT Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of SPUU and SPYT, 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	SPYT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.30	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	1.11	-0.48

Drawdowns

SPUU vs. SPYT - Drawdown Comparison

The maximum SPUU drawdown since its inception was -59.35%, which is greater than SPYT's maximum drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for SPUU and SPYT.

Drawdown Indicators

	SPUU	SPYT	Difference
Max Drawdown Largest peak-to-trough decline	-59.35%	-18.25%	-41.10%
Max Drawdown (1Y) Largest decline over 1 year	-18.19%	-8.00%	-10.19%
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	-1.27%	0.00%	-1.27%
Average Drawdown Average peak-to-trough decline	-9.51%	-2.00%	-7.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	1.72%	+2.40%

Volatility

SPUU vs. SPYT - Volatility Comparison

Direxion Daily S&P 500 Bull 2x Shares (SPUU) has a higher volatility of 5.71% compared to Defiance S&P 500 Income Target ETF (SPYT) at 2.40%. This indicates that SPUU's price experiences larger fluctuations and is considered to be riskier than SPYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUU	SPYT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.71%	2.40%	+3.31%
Volatility (6M) Calculated over the trailing 6-month period	18.09%	8.30%	+9.79%
Volatility (1Y) Calculated over the trailing 1-year period	23.90%	10.85%	+13.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.46%	14.81%	+18.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.77%	14.81%	+20.96%

SPUU vs. SPYT - Expense Ratio Comparison

SPUU has a 0.64% expense ratio, which is lower than SPYT's 0.87% expense ratio.

Dividends

SPUU vs. SPYT - Dividend Comparison

SPUU's dividend yield for the trailing twelve months is around 1.34%, less than SPYT's 20.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPUU Direxion Daily S&P 500 Bull 2x Shares	1.34%	1.63%	0.55%	0.83%	0.88%	3.04%	8.03%	1.80%	5.50%	6.96%	8.08%	4.42%
SPYT Defiance S&P 500 Income Target ETF	20.59%	21.40%	17.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPUU and SPYT in my portfolio?

With a correlation of 0.95, SPUU and SPYT 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 SPYT?

SPUU has higher volatility (5.71%) compared to SPYT (2.40%). In terms of maximum drawdown, SPUU dropped -59.35% vs SPYT's -18.25%.

Which ETF is better, SPUU or SPYT?

On 1-year performance, SPUU leads with 53.61% vs 24.84% for SPYT. On fees, SPUU is cheaper at 0.64% per year. On volatility, SPYT has been the lower-risk option at 2.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPUU or SPYT?

Over the 1-year period, SPUU has performed better with a 53.61% return vs 24.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPUU or SPYT?

SPUU is cheaper with a 0.64% expense ratio, compared with 0.87% for SPYT.

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

SPYT has the higher dividend yield at 20.59%, compared with 1.34% for SPUU.

What is the main difference between SPUU and SPYT?

SPUU is categorized as Leveraged Equities, while SPYT is Derivative Income. They also come from different issuers: Direxion and Defiance. Their fees differ too: 0.64% for SPUU and 0.87% for SPYT.

Which has better risk-adjusted returns?

SPYT currently has the higher Sharpe Ratio (2.30 vs 2.26), 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.