SPUU vs. UMI

Last updated Jun 14, 2026

SPUU (Direxion Daily S&P 500 Bull 2X ETF) and UMI (USCF Midstream Energy Income Fund ETF) are both exchange-traded funds - SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily), while UMI is a Energy Equities fund actively managed by Wainwright, Inc.. SPUU is passively managed, while UMI is actively managed. Over the past 5 years, SPUU returned 19.14%/yr vs 19.88%/yr for UMI. At a 0.43 correlation, their price movements are largely independent. SPUU charges 0.60%/yr vs 0.85%/yr for UMI.

Performance

SPUU vs. UMI - 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 USCF Midstream Energy Income Fund ETF (UMI). 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 UMI's 24.00% 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%

UMI

• 1D: 0.77%
• 1M: -1.25%
• YTD: 24.00%
• 6M: 23.82%
• 1Y: 25.24%
• 3Y*: 27.76%
• 5Y*: 19.88%
• 10Y*: —

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

SPUU vs. UMI - 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%	3.70%
UMI USCF Midstream Energy Income Fund ETF	24.00%	5.11%	42.97%	14.60%	20.78%	20.97%	-8.25%	21.06%	-10.64%	2.76%

Correlation

The correlation between SPUU and UMI is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Nov 30, 2017	0.43

The correlation between SPUU and UMI shifts across timeframes, from -0.05 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.

SPUU vs. UMI - Sectors Allocation Comparison

Sectors	SPUU	UMI
Technology	39.0%	-
Financial Services	11.1%	-
Communication Services	10.6%	-
Consumer Cyclical	9.9%	-
Healthcare	8.3%	-
Industrials	7.8%	-
Consumer Defensive	4.5%	-
Energy	3.1%	99.0%
Utilities	2.1%	1.0%
Real Estate	1.8%	-
Basic Materials	1.7%	-

Return for Risk

SPUU vs. UMI — 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

UMI

UMI Risk / Return Rank: 64
UMI Sharpe Ratio Rank: 64
UMI Sortino Ratio Rank: 63
UMI Omega Ratio Rank: 59
UMI Calmar Ratio Rank: 76
UMI Martin Ratio Rank: 59

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. UMI - 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 USCF Midstream Energy Income Fund ETF (UMI). 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	UMI	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.83	-0.02
Sortino ratio: Return per unit of downside risk	2.35	2.53	-0.19
Omega ratio: Gain probability vs. loss probability	1.31	1.32	-0.01
Calmar ratio: Return relative to maximum drawdown	2.47	3.43	-0.97
Martin ratio: Return relative to average drawdown	10.61	9.22	+1.39

SPUU vs. UMI - Sharpe Ratio Comparison

The current SPUU Sharpe Ratio is 1.81, which is comparable to the UMI Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of SPUU and UMI, 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. UMI - Drawdown Comparison

The maximum SPUU drawdown since its inception was -59.35%, which is greater than UMI's maximum drawdown of -48.08%. Use the drawdown chart below to compare losses from any high point for SPUU and UMI.

Drawdown Indicators

	SPUU	UMI	Difference
Max Drawdown Largest peak-to-trough decline	-59.35%	-48.08%	-11.27%
Max Drawdown (1Y) Largest decline over 1 year	-18.19%	-7.50%	-10.69%
Max Drawdown (3Y) Largest decline over 3 years	-35.18%	-17.08%	-18.10%
Max Drawdown (5Y) Largest decline over 5 years	-46.59%	-20.05%	-26.54%
Max Drawdown (10Y) Largest decline over 10 years	-59.35%	—	—
Current Drawdown Current decline from peak	-4.78%	-3.61%	-1.17%
Average Drawdown Average peak-to-trough decline	-9.49%	-6.59%	-2.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	2.79%	+1.44%

Volatility

SPUU vs. UMI - Volatility Comparison

Direxion Daily S&P 500 Bull 2X ETF (SPUU) has a higher volatility of 8.72% compared to USCF Midstream Energy Income Fund ETF (UMI) at 5.61%. This indicates that SPUU's price experiences larger fluctuations and is considered to be riskier than UMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUU	UMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.72%	5.61%	+3.11%
Volatility (6M) Calculated over the trailing 6-month period	19.45%	11.01%	+8.44%
Volatility (1Y) Calculated over the trailing 1-year period	24.81%	14.09%	+10.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.59%	19.54%	+14.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.83%	23.17%	+12.66%

SPUU vs. UMI - Expense Ratio Comparison

SPUU has a 0.60% expense ratio, which is lower than UMI's 0.85% expense ratio.

Dividends

SPUU vs. UMI - Dividend Comparison

SPUU's dividend yield for the trailing twelve months is around 1.39%, less than UMI's 5.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
UMI USCF Midstream Energy Income Fund ETF	5.91%	6.23%	4.39%	4.67%	4.36%	3.00%	2.18%	2.47%	2.48%	0.15%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPUU and UMI in my portfolio?

SPUU and UMI have a correlation of -0.05, 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 UMI?

SPUU has higher volatility (8.72%) compared to UMI (5.61%). In terms of maximum drawdown, SPUU dropped -59.35% vs UMI's -48.08%.

Which ETF is better, SPUU or UMI?

On 5-year performance, UMI leads with 19.88% vs 19.14% for SPUU. On fees, SPUU is cheaper at 0.60% per year. On volatility, UMI has been the lower-risk option at 5.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPUU or UMI?

Over the 5-year period, UMI has performed better with a 19.88% return vs 19.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPUU or UMI?

SPUU is cheaper with a 0.60% expense ratio, compared with 0.85% for UMI.

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

UMI has the higher dividend yield at 5.91%, compared with 1.39% for SPUU.

What is the main difference between SPUU and UMI?

SPUU is categorized as Leveraged Equities, while UMI is Energy Equities. They also come from different issuers: Direxion and Wainwright, Inc.. Their fees differ too: 0.60% for SPUU and 0.85% for UMI.

Which has better risk-adjusted returns?

UMI currently has the higher Sharpe Ratio (1.83 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.