SPUU vs. VGLT

Last updated Jun 9, 2026

SPUU (Direxion Daily S&P 500 Bull 2X ETF) and VGLT (Vanguard Long-Term Treasury ETF) are both exchange-traded funds - SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily), while VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 10 years, SPUU returned 24.31%/yr vs -1.28%/yr for VGLT. At a correlation of -0.15, they often move in opposite directions. SPUU charges 0.60%/yr vs 0.03%/yr for VGLT.

Performance

SPUU vs. VGLT - 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 Long-Term Treasury ETF (VGLT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPUU achieves a 14.92% return, which is significantly higher than VGLT's -1.16% return. Over the past 10 years, SPUU has outperformed VGLT with an annualized return of 24.31%, while VGLT has yielded a comparatively lower -1.28% annualized return.

SPUU

• 1D: 0.60%
• 1M: 0.07%
• YTD: 14.92%
• 6M: 14.42%
• 1Y: 45.91%
• 3Y*: 35.91%
• 5Y*: 19.28%
• 10Y*: 24.31%

VGLT

• 1D: -0.40%
• 1M: -1.25%
• YTD: -1.16%
• 6M: -1.18%
• 1Y: 4.15%
• 3Y*: -0.94%
• 5Y*: -5.66%
• 10Y*: -1.28%

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

SPUU vs. VGLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPUU Direxion Daily S&P 500 Bull 2X ETF	14.92%	26.55%	44.25%	47.28%	-38.72%	61.27%	21.85%	66.84%	-14.59%	44.33%
VGLT Vanguard Long-Term Treasury ETF	-1.16%	5.35%	-6.28%	3.27%	-29.34%	-4.98%	17.57%	14.30%	-1.54%	8.64%

Correlation

The correlation between SPUU and VGLT is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (10Y) Calculated over the trailing 10-year period	-0.09
Correlation (All Time) Calculated using the full available price history since Jun 9, 2014	-0.15

The correlation between SPUU and VGLT shifts across timeframes, from -0.15 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SPUU vs. VGLT — 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: 57
SPUU Martin Ratio Rank: 66

VGLT

VGLT Risk / Return Rank: 17
VGLT Sharpe Ratio Rank: 17
VGLT Sortino Ratio Rank: 17
VGLT Omega Ratio Rank: 16
VGLT Calmar Ratio Rank: 17
VGLT Martin Ratio Rank: 17

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. VGLT - 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 Long-Term Treasury ETF (VGLT). 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	VGLT	Difference
Sharpe ratio: Return per unit of total volatility	1.89	0.48	+1.41
Sortino ratio: Return per unit of downside risk	2.43	0.75	+1.68
Omega ratio: Gain probability vs. loss probability	1.32	1.08	+0.24
Calmar ratio: Return relative to maximum drawdown	2.54	0.60	+1.94
Martin ratio: Return relative to average drawdown	11.10	1.53	+9.58
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. VGLT - Sharpe Ratio Comparison

The current SPUU Sharpe Ratio is 1.89, which is higher than the VGLT Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of SPUU and VGLT, 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	VGLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	0.48	+1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	-0.39	+0.97
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	-0.09	+0.77
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.18	+0.44

Drawdowns

SPUU vs. VGLT - Drawdown Comparison

The maximum SPUU drawdown since its inception was -59.35%, which is greater than VGLT's maximum drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for SPUU and VGLT.

Drawdown Indicators

	SPUU	VGLT	Difference
Max Drawdown Largest peak-to-trough decline	-59.35%	-46.18%	-13.17%
Max Drawdown (1Y) Largest decline over 1 year	-18.19%	-7.01%	-11.18%
Max Drawdown (3Y) Largest decline over 3 years	-35.18%	-17.68%	-17.50%
Max Drawdown (5Y) Largest decline over 5 years	-46.59%	-40.98%	-5.61%
Max Drawdown (10Y) Largest decline over 10 years	-59.35%	-46.18%	-13.17%
Current Drawdown Current decline from peak	-5.31%	-37.30%	+31.99%
Average Drawdown Average peak-to-trough decline	-9.50%	-15.08%	+5.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.15%	2.72%	+1.43%

Volatility

SPUU vs. VGLT - Volatility Comparison

Direxion Daily S&P 500 Bull 2X ETF (SPUU) has a higher volatility of 7.64% compared to Vanguard Long-Term Treasury ETF (VGLT) at 2.50%. This indicates that SPUU's price experiences larger fluctuations and is considered to be riskier than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUU	VGLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	2.50%	+5.14%
Volatility (6M) Calculated over the trailing 6-month period	18.95%	5.96%	+12.99%
Volatility (1Y) Calculated over the trailing 1-year period	24.47%	8.71%	+15.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.54%	14.57%	+18.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.82%	13.82%	+22.00%

SPUU vs. VGLT - Expense Ratio Comparison

SPUU has a 0.60% expense ratio, which is higher than VGLT's 0.03% expense ratio.

Dividends

SPUU vs. VGLT - Dividend Comparison

SPUU's dividend yield for the trailing twelve months is around 1.40%, less than VGLT's 4.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPUU Direxion Daily S&P 500 Bull 2X ETF	1.40%	1.63%	0.55%	0.83%	0.88%	3.04%	8.03%	1.80%	5.50%	6.96%	8.08%	4.42%
VGLT Vanguard Long-Term Treasury ETF	4.64%	4.44%	4.33%	3.33%	2.84%	1.82%	2.15%	2.46%	2.71%	2.55%	2.69%	3.21%

Frequently Asked Questions

Can I hold both SPUU and VGLT in my portfolio?

SPUU and VGLT have a correlation of 0.23, 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 VGLT?

SPUU has higher volatility (7.64%) compared to VGLT (2.50%). In terms of maximum drawdown, SPUU dropped -59.35% vs VGLT's -46.18%.

Which ETF is better, SPUU or VGLT?

On 10-year performance, SPUU leads with 24.31% vs -1.28% for VGLT. On fees, VGLT is cheaper at 0.03% per year. On volatility, VGLT has been the lower-risk option at 2.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPUU or VGLT?

Over the 10-year period, SPUU has performed better with a 24.31% return vs -1.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPUU or VGLT?

VGLT is cheaper with a 0.03% expense ratio, compared with 0.60% for SPUU.

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

VGLT has the higher dividend yield at 4.64%, compared with 1.40% for SPUU.

What is the main difference between SPUU and VGLT?

SPUU is categorized as Leveraged Equities, while VGLT is Government Bonds. SPUU tracks S&P 500 Index (200% Daily), while VGLT tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: Direxion and Vanguard. Their fees differ too: 0.60% for SPUU and 0.03% for VGLT.

Which has better risk-adjusted returns?

SPUU currently has the higher Sharpe Ratio (1.89 vs 0.48), 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.