SPXL vs. DFEN
Compare and contrast key facts about Direxion Daily S&P 500 Bull 3X Shares (SPXL) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN).
SPXL and DFEN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. DFEN is a passively managed fund by Direxion that tracks the performance of the Dow Jones U.S. Select Aerospace & Defense Index (300%). It was launched on May 3, 2017. Both SPXL and DFEN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPXL or DFEN.
Key characteristics
| SPXL | DFEN | |
|---|---|---|
| YTD Return | 65.10% | 42.83% |
| 1Y Return | 93.38% | 85.71% |
| 3Y Return (Ann) | 7.95% | 18.42% |
| 5Y Return (Ann) | 24.06% | -11.11% |
| Sharpe Ratio | 2.59 | 1.82 |
| Sortino Ratio | 2.97 | 2.28 |
| Omega Ratio | 1.41 | 1.31 |
| Calmar Ratio | 2.45 | 1.15 |
| Martin Ratio | 15.50 | 11.64 |
| Ulcer Index | 6.05% | 7.13% |
| Daily Std Dev | 36.21% | 45.50% |
| Max Drawdown | -76.86% | -91.36% |
| Current Drawdown | -6.65% | -48.48% |
Correlation
The correlation between SPXL and DFEN is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
SPXL vs. DFEN - Performance Comparison
In the year-to-date period, SPXL achieves a 65.10% return, which is significantly higher than DFEN's 42.83% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SPXL vs. DFEN - Expense Ratio Comparison
SPXL has a 1.02% expense ratio, which is higher than DFEN's 0.99% expense ratio.
Risk-Adjusted Performance
SPXL vs. DFEN - 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 Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). 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.
Dividends
SPXL vs. DFEN - Dividend Comparison
SPXL's dividend yield for the trailing twelve months is around 0.72%, less than DFEN's 0.92% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
SPXL Direxion Daily S&P 500 Bull 3X Shares | 0.72% | 0.98% | 0.33% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% |
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 0.92% | 1.13% | 0.46% | 1.89% | 0.48% | 0.50% | 1.07% | 1.46% |
Drawdowns
SPXL vs. DFEN - Drawdown Comparison
The maximum SPXL drawdown since its inception was -76.86%, smaller than the maximum DFEN drawdown of -91.36%. Use the drawdown chart below to compare losses from any high point for SPXL and DFEN. For additional features, visit the drawdowns tool.
Volatility
SPXL vs. DFEN - Volatility Comparison
The current volatility for Direxion Daily S&P 500 Bull 3X Shares (SPXL) is 12.23%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 22.97%. This indicates that SPXL experiences smaller price fluctuations and is considered to be less risky than DFEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.