SPXL vs. BRKL

Last updated Aug 4, 2026

SPXL (Direxion Daily S&P 500 Bull 3X ETF) and BRKL (Corgi BRKB 2x Daily ETF) are both Leveraged Equities funds. SPXL is passively managed, while BRKL is actively managed. Their -0.07 correlation means they have often moved in opposite directions in the past. SPXL charges 0.84%/yr vs 0.45%/yr for BRKL.

Performance

SPXL vs. BRKL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily S&P 500 Bull 3X ETF (SPXL) and Corgi BRKB 2x Daily ETF (BRKL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPXL

• 1D: 4.28%
• 1M: 4.04%
• 6M: 21.44%
• YTD: 27.32%
• 1Y: 61.16%
• 3Y*: 46.76%
• 5Y*: 20.51%
• 10Y*: 28.68%
• ALL TIME*: 27.60%

BRKL

• 1D: 0.36%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BRKL Corgi BRKB 2x Daily ETF	$2.37K	$14.77K	$14.77K
SPXL Direxion Daily S&P 500 Bull 3X ETF	$489.09M	$455.54M	$538.26M

SPXL vs. BRKL - Yearly Performance Comparison

	2026 (YTD)
SPXL Direxion Daily S&P 500 Bull 3X ETF	1.40%
BRKL Corgi BRKB 2x Daily ETF	1.84%

Correlation

The correlation between SPXL and BRKL is -0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 7, 2026	-0.07

Return for Risk

SPXL vs. BRKL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPXL

SPXL Risk / Return Rank: 65
SPXL Sharpe Ratio Rank: 68
SPXL Sortino Ratio Rank: 61
SPXL Omega Ratio Rank: 62
SPXL Calmar Ratio Rank: 64
SPXL Martin Ratio Rank: 70

BRKL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPXL vs. BRKL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 Bull 3X ETF (SPXL) and Corgi BRKB 2x Daily ETF (BRKL). 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.

	SPXL	BRKL	Difference
Sharpe ratio: Return per unit of total volatility	1.60	—	—
Sortino ratio: Return per unit of downside risk	2.10	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	2.30	—	—
Martin ratio: Return relative to average drawdown	8.79	—	—

Drawdowns

SPXL vs. BRKL - Drawdown Comparison

The maximum SPXL drawdown since its inception was -76.86%, which is greater than BRKL's maximum drawdown of -7.03%. Use the drawdown chart below to compare losses from any high point for SPXL and BRKL.

Drawdown Indicators

	SPXL	BRKL	Difference
Max Drawdown Largest peak-to-trough decline	-76.86%	-7.03%	-69.83%
Max Drawdown (1Y) Largest decline over 1 year	-26.77%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-48.95%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-63.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-76.86%	—	—
Current Drawdown Current decline from peak	-2.71%	0.00%	-2.71%
Average Drawdown Average peak-to-trough decline	-16.04%	-3.93%	-12.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.98%	—	—

Volatility

Volatility by Period

	SPXL	BRKL	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.53%	—	—
Volatility (6M) Calculated over the trailing 6-month period	30.70%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	38.54%	30.17%	+8.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.67%	30.17%	+20.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.49%	30.17%	+23.32%

SPXL vs. BRKL - Expense Ratio Comparison

SPXL has a 0.84% expense ratio, which is higher than BRKL's 0.45% expense ratio.

Dividends

SPXL vs. BRKL - Dividend Comparison

SPXL's dividend yield for the trailing twelve months is around 0.51%, while BRKL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRKL Corgi BRKB 2x Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPXL Direxion Daily S&P 500 Bull 3X ETF	0.51%	0.69%	0.74%	0.98%	0.32%	0.11%	0.22%	0.84%	1.02%	3.88%

Frequently Asked Questions

Can I hold both SPXL and BRKL in my portfolio?

SPXL and BRKL have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPXL or BRKL?

On fees, BRKL is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPXL or BRKL?

BRKL is cheaper with a 0.45% expense ratio, compared with 0.84% for SPXL.

Which ETF pays a higher dividend yield, SPXL or BRKL?

SPXL has the higher dividend yield at 0.51%, compared with 0.00% for BRKL.

What is the main difference between SPXL and BRKL?

They also come from different issuers: Direxion and Corgi. Their fees differ too: 0.84% for SPXL and 0.45% for BRKL.