SPUU vs. XTAP
Compare and contrast key facts about Direxion Daily S&P 500 Bull 2x Shares (SPUU) and Innovator U.S. Equity Accelerated Plus ETF (XTAP).
SPUU and XTAP 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. XTAP is an actively managed fund by Innovator. It was launched on Apr 1, 2021.
Performance
SPUU vs. XTAP - Performance Comparison
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SPUU vs. XTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPUU Direxion Daily S&P 500 Bull 2x Shares | -10.01% | 26.55% | 44.25% | 47.28% | -38.72% | 40.83% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 1.66% | 17.58% | 14.26% | 23.46% | -14.68% | 11.87% |
Returns By Period
In the year-to-date period, SPUU achieves a -10.01% return, which is significantly lower than XTAP's 1.66% 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%
XTAP
- 1D
- 0.08%
- 1M
- 0.65%
- YTD
- 1.66%
- 6M
- 4.34%
- 1Y
- 16.29%
- 3Y*
- 16.22%
- 5Y*
- —
- 10Y*
- —
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SPUU vs. XTAP - Expense Ratio Comparison
SPUU has a 0.64% expense ratio, which is lower than XTAP's 0.79% expense ratio.
Return for Risk
SPUU vs. XTAP — Risk / Return Rank
SPUU
XTAP
SPUU vs. XTAP - 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 Innovator U.S. Equity Accelerated Plus ETF (XTAP). 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 | XTAP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.75 | 1.14 | -0.39 |
Sortino ratioReturn per unit of downside risk | 1.26 | 1.76 | -0.50 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.44 | -0.26 |
Calmar ratioReturn relative to maximum drawdown | 1.24 | 1.43 | -0.19 |
Martin ratioReturn relative to average drawdown | 5.35 | 9.78 | -4.43 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPUU | XTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 1.14 | -0.39 |
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 | 0.69 | -0.13 |
Correlation
The correlation between SPUU and XTAP is 0.93, 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. XTAP - Dividend Comparison
SPUU's dividend yield for the trailing twelve months is around 1.78%, while XTAP has not paid dividends to shareholders.
| 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% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPUU vs. XTAP - Drawdown Comparison
The maximum SPUU drawdown since its inception was -59.35%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for SPUU and XTAP.
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Drawdown Indicators
| SPUU | XTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.35% | -22.13% | -37.22% |
Max Drawdown (1Y)Largest decline over 1 year | -23.10% | -11.83% | -11.27% |
Max Drawdown (5Y)Largest decline over 5 years | -46.59% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -59.35% | — | — |
Current DrawdownCurrent decline from peak | -13.39% | 0.00% | -13.39% |
Average DrawdownAverage peak-to-trough decline | -9.62% | -3.57% | -6.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.35% | 1.73% | +3.62% |
Volatility
SPUU vs. XTAP - Volatility Comparison
Direxion Daily S&P 500 Bull 2x Shares (SPUU) has a higher volatility of 10.70% compared to Innovator U.S. Equity Accelerated Plus ETF (XTAP) at 0.77%. This indicates that SPUU's price experiences larger fluctuations and is considered to be riskier than XTAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPUU | XTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.70% | 0.77% | +9.93% |
Volatility (6M)Calculated over the trailing 6-month period | 19.17% | 2.52% | +16.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.23% | 14.33% | +21.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.47% | 14.60% | +18.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.73% | 14.60% | +21.13% |