SPUU vs. VFIAX

Last updated Jun 24, 2026

SPUU (Direxion Daily S&P 500 Bull 2X ETF) and VFIAX (Vanguard 500 Index Fund Admiral Shares) are both funds - SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily), while VFIAX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SPUU returned 24.81%/yr vs 15.76%/yr for VFIAX. With a 0.97 correlation, they move nearly in lockstep. SPUU charges 0.60%/yr vs 0.04%/yr for VFIAX.

Performance

SPUU vs. VFIAX - 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 Vanguard 500 Index Fund Admiral Shares (VFIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPUU achieves a 13.33% return, which is significantly higher than VFIAX's 9.77% return. Over the past 10 years, SPUU has outperformed VFIAX with an annualized return of 24.81%, while VFIAX has yielded a comparatively lower 15.76% annualized return.

SPUU

• 1D: -2.91%
• 1M: -3.20%
• YTD: 13.33%
• 6M: 10.95%
• 1Y: 43.00%
• 3Y*: 34.33%
• 5Y*: 18.44%
• 10Y*: 24.81%

VFIAX

• 1D: -0.36%
• 1M: 0.10%
• YTD: 9.77%
• 6M: 8.77%
• 1Y: 25.48%
• 3Y*: 21.36%
• 5Y*: 13.57%
• 10Y*: 15.76%

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

SPUU vs. VFIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPUU Direxion Daily S&P 500 Bull 2X ETF	13.33%	26.55%	44.25%	47.28%	-38.72%	61.27%	21.85%	66.84%	-14.59%	44.33%
VFIAX Vanguard 500 Index Fund Admiral Shares	9.77%	17.83%	24.97%	26.24%	-18.16%	28.65%	18.32%	31.46%	-4.45%	21.78%

Correlation

The correlation between SPUU and VFIAX is 0.99 - 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	0.99
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014	0.97

The correlation between SPUU and VFIAX has been stable across timeframes, ranging from 0.97 to 1.00 - a consistent structural relationship.

SPUU vs. VFIAX - Sectors Allocation Comparison

Sectors	SPUU	VFIAX
Technology	39.0%	39.1%
Financial Services	11.1%	10.9%
Communication Services	10.6%	10.5%
Consumer Cyclical	9.9%	9.8%
Healthcare	8.3%	8.3%
Industrials	7.8%	7.6%
Consumer Defensive	4.5%	4.5%
Energy	3.1%	3.2%
Utilities	2.1%	2.5%
Real Estate	1.8%	1.8%
Basic Materials	1.7%	1.7%

Return for Risk

SPUU vs. VFIAX — Risk / Return Rank

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

SPUU

SPUU Risk / Return Rank: 51
SPUU Sharpe Ratio Rank: 52
SPUU Sortino Ratio Rank: 47
SPUU Omega Ratio Rank: 48
SPUU Calmar Ratio Rank: 50
SPUU Martin Ratio Rank: 59

VFIAX

VFIAX Risk / Return Rank: 65
VFIAX Sharpe Ratio Rank: 63
VFIAX Sortino Ratio Rank: 57
VFIAX Omega Ratio Rank: 59
VFIAX Calmar Ratio Rank: 68
VFIAX Martin Ratio Rank: 78

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. VFIAX - 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 Vanguard 500 Index Fund Admiral Shares (VFIAX). 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	VFIAX	Difference
Sharpe ratio: Return per unit of total volatility	1.72	2.15	-0.43
Sortino ratio: Return per unit of downside risk	2.25	2.91	-0.66
Omega ratio: Gain probability vs. loss probability	1.30	1.39	-0.09
Calmar ratio: Return relative to maximum drawdown	2.38	3.01	-0.64
Martin ratio: Return relative to average drawdown	10.11	13.60	-3.49

SPUU vs. VFIAX - Sharpe Ratio Comparison

The current SPUU Sharpe Ratio is 1.72, which is comparable to the VFIAX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of SPUU and VFIAX, 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. VFIAX - Drawdown Comparison

The maximum SPUU drawdown since its inception was -59.35%, which is greater than VFIAX's maximum drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for SPUU and VFIAX.

Drawdown Indicators

	SPUU	VFIAX	Difference
Max Drawdown Largest peak-to-trough decline	-59.35%	-55.20%	-4.15%
Max Drawdown (1Y) Largest decline over 1 year	-18.19%	-8.90%	-9.29%
Max Drawdown (3Y) Largest decline over 3 years	-35.18%	-18.75%	-16.43%
Max Drawdown (5Y) Largest decline over 5 years	-46.59%	-24.53%	-22.06%
Max Drawdown (10Y) Largest decline over 10 years	-59.35%	-33.83%	-25.52%
Current Drawdown Current decline from peak	-6.62%	-1.72%	-4.90%
Average Drawdown Average peak-to-trough decline	-9.48%	-9.38%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.27%	1.97%	+2.30%

Volatility

SPUU vs. VFIAX - Volatility Comparison

Direxion Daily S&P 500 Bull 2X ETF (SPUU) has a higher volatility of 9.70% compared to Vanguard 500 Index Fund Admiral Shares (VFIAX) at 4.67%. This indicates that SPUU's price experiences larger fluctuations and is considered to be riskier than VFIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUU	VFIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.70%	4.67%	+5.03%
Volatility (6M) Calculated over the trailing 6-month period	19.93%	9.84%	+10.09%
Volatility (1Y) Calculated over the trailing 1-year period	25.22%	12.50%	+12.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.67%	16.99%	+16.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.81%	18.11%	+17.70%

SPUU vs. VFIAX - Expense Ratio Comparison

SPUU has a 0.60% expense ratio, which is higher than VFIAX's 0.04% expense ratio.

Dividends

SPUU vs. VFIAX - Dividend Comparison

SPUU's dividend yield for the trailing twelve months is around 1.42%, more than VFIAX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPUU Direxion Daily S&P 500 Bull 2X ETF	1.42%	1.63%	0.55%	0.83%	0.88%	3.04%	8.03%	1.80%	5.50%	6.96%	8.08%	4.42%
VFIAX Vanguard 500 Index Fund Admiral Shares	1.03%	1.12%	1.24%	1.45%	1.68%	1.24%	1.53%	1.87%	2.05%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both SPUU and VFIAX in my portfolio?

With a correlation of 0.99, SPUU and VFIAX 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 VFIAX?

SPUU has higher volatility (9.70%) compared to VFIAX (4.67%). In terms of maximum drawdown, SPUU dropped -59.35% vs VFIAX's -55.20%.

Which has better risk-adjusted returns?

VFIAX currently has the higher Sharpe Ratio (2.15 vs 1.72), 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.