SPUU vs. SPYT

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Daily S&P 500 Bull 2x Shares (SPUU) and Defiance S&P 500 Income Target ETF (SPYT).

SPUU and SPYT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPUU is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index (200%). It was launched on May 28, 2014. SPYT is an actively managed fund by Defiance. It was launched on Mar 7, 2024.

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.

SPUU vs. SPYT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPUU Direxion Daily S&P 500 Bull 2x Shares	-10.01%	26.55%	24.58%
SPYT Defiance S&P 500 Income Target ETF	-3.61%	12.41%	12.94%

Returns By Period

In the year-to-date period, SPUU achieves a -10.01% return, which is significantly lower than SPYT's -3.61% return.

SPUU

• 1D: 5.86%
• 1M: -10.17%
• YTD: -10.01%
• 6M: -6.87%
• 1Y: 27.13%
• 3Y*: 28.85%
• 5Y*: 15.86%
• 10Y*: 21.67%

SPYT

• 1D: 2.97%
• 1M: -4.34%
• YTD: -3.61%
• 6M: -2.10%
• 1Y: 14.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPUU vs. SPYT - Expense Ratio Comparison

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

SPYT

Defiance S&P 500 Income Target ETF

SPUU

Direxion Daily S&P 500 Bull 2x Shares

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: 52
SPUU Sharpe Ratio Rank: 44
SPUU Sortino Ratio Rank: 50
SPUU Omega Ratio Rank: 53
SPUU Calmar Ratio Rank: 53
SPUU Martin Ratio Rank: 59

SPYT

SPYT Risk / Return Rank: 54
SPYT Sharpe Ratio Rank: 47
SPYT Sortino Ratio Rank: 49
SPYT Omega Ratio Rank: 58
SPYT Calmar Ratio Rank: 53
SPYT Martin Ratio Rank: 65

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	0.75	0.82	-0.06
Sortino ratio Return per unit of downside risk	1.26	1.27	-0.01
Omega ratio Gain probability vs. loss probability	1.19	1.21	-0.02
Calmar ratio Return relative to maximum drawdown	1.24	1.28	-0.04
Martin ratio Return relative to average drawdown	5.35	6.21	-0.86
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 0.75, which is comparable to the SPYT Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of SPUU and SPYT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPUU	SPYT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	0.82	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.68	-0.13

Correlation

The correlation between SPUU and SPYT is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SPUU vs. SPYT - Dividend Comparison

SPUU's dividend yield for the trailing twelve months is around 1.78%, less than SPYT's 22.62% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPUU Direxion Daily S&P 500 Bull 2x Shares	1.78%	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	22.62%	21.40%	17.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

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	-23.10%	-11.56%	-11.54%
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	-13.39%	-5.27%	-8.12%
Average Drawdown Average peak-to-trough decline	-9.62%	-2.11%	-7.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.35%	2.38%	+2.97%

Volatility

SPUU vs. SPYT - Volatility Comparison

Direxion Daily S&P 500 Bull 2x Shares (SPUU) has a higher volatility of 10.70% compared to Defiance S&P 500 Income Target ETF (SPYT) at 5.38%. 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	10.70%	5.38%	+5.32%
Volatility (6M) Calculated over the trailing 6-month period	19.17%	8.82%	+10.35%
Volatility (1Y) Calculated over the trailing 1-year period	36.23%	17.40%	+18.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.47%	15.13%	+18.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.73%	15.13%	+20.60%