SPXL vs. ^NDX
Compare and contrast key facts about Direxion Daily S&P 500 Bull 3X Shares (SPXL) and NASDAQ 100 (^NDX).
SPXL is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index (300%). It was launched on Nov 5, 2008.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPXL or ^NDX.
Correlation
The correlation between SPXL and ^NDX is 0.90, 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.
Performance
SPXL vs. ^NDX - Performance Comparison
Key characteristics
SPXL:
2.00
^NDX:
1.52
SPXL:
2.41
^NDX:
2.06
SPXL:
1.33
^NDX:
1.27
SPXL:
2.75
^NDX:
2.07
SPXL:
11.59
^NDX:
7.16
SPXL:
6.58%
^NDX:
3.93%
SPXL:
38.08%
^NDX:
18.45%
SPXL:
-76.86%
^NDX:
-82.90%
SPXL:
-6.23%
^NDX:
-2.97%
Returns By Period
In the year-to-date period, SPXL achieves a 4.99% return, which is significantly higher than ^NDX's 2.04% return. Over the past 10 years, SPXL has outperformed ^NDX with an annualized return of 25.03%, while ^NDX has yielded a comparatively lower 17.77% annualized return.
SPXL
4.99%
5.16%
19.59%
71.91%
20.37%
25.03%
^NDX
2.04%
1.57%
9.83%
23.84%
18.55%
17.77%
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Risk-Adjusted Performance
SPXL vs. ^NDX — Risk-Adjusted Performance Rank
SPXL
^NDX
SPXL vs. ^NDX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 Bull 3X Shares (SPXL) and NASDAQ 100 (^NDX). 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.
Drawdowns
SPXL vs. ^NDX - Drawdown Comparison
The maximum SPXL drawdown since its inception was -76.86%, smaller than the maximum ^NDX drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for SPXL and ^NDX. For additional features, visit the drawdowns tool.
Volatility
SPXL vs. ^NDX - Volatility Comparison
Direxion Daily S&P 500 Bull 3X Shares (SPXL) has a higher volatility of 15.25% compared to NASDAQ 100 (^NDX) at 6.45%. This indicates that SPXL's price experiences larger fluctuations and is considered to be riskier than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.