SPXL vs. FUTG

Last updated Jun 4, 2026

SPXL (Direxion Daily S&P 500 Bull 3X ETF) and FUTG (Leverage Shares 2X Long FUTU Daily ETF) are both Leveraged Equities funds. SPXL is passively managed, while FUTG is actively managed. A 0.57 correlation means they provide meaningful diversification when combined. SPXL charges 0.84%/yr vs 0.75%/yr for FUTG.

Performance

SPXL vs. FUTG - 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 Leverage Shares 2X Long FUTU Daily ETF (FUTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPXL achieves a 28.14% return, which is significantly higher than FUTG's -75.53% return.

SPXL

• 1D: -2.08%
• 1M: 14.77%
• YTD: 28.14%
• 6M: 26.88%
• 1Y: 81.54%
• 3Y*: 52.83%
• 5Y*: 23.51%
• 10Y*: 30.20%

FUTG

• 1D: -11.10%
• 1M: -70.24%
• YTD: -75.53%
• 6M: -77.00%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPXL vs. FUTG - Yearly Performance Comparison

	2026 (YTD)	2025
SPXL Direxion Daily S&P 500 Bull 3X ETF	28.14%	6.76%
FUTG Leverage Shares 2X Long FUTU Daily ETF	-75.53%	-0.80%

Correlation

The correlation between SPXL and FUTG is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 15, 2025	0.57

Return for Risk

SPXL vs. FUTG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPXL

SPXL Risk / Return Rank: 63
SPXL Sharpe Ratio Rank: 69
SPXL Sortino Ratio Rank: 57
SPXL Omega Ratio Rank: 58
SPXL Calmar Ratio Rank: 60
SPXL Martin Ratio Rank: 68

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.

SPXL vs. FUTG - 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 Leverage Shares 2X Long FUTU Daily ETF (FUTG). 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.

	SPXL	FUTG	Difference
Sharpe ratio: Return per unit of total volatility	2.32	—	—
Sortino ratio: Return per unit of downside risk	2.78	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	3.06	—	—
Martin ratio: Return relative to average drawdown	12.94	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SPXL	FUTG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	-0.66	+1.19

Drawdowns

SPXL vs. FUTG - Drawdown Comparison

The maximum SPXL drawdown since its inception was -76.86%, smaller than the maximum FUTG drawdown of -86.19%. Use the drawdown chart below to compare losses from any high point for SPXL and FUTG.

Drawdown Indicators

	SPXL	FUTG	Difference
Max Drawdown Largest peak-to-trough decline	-76.86%	-86.19%	+9.33%
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	-2.08%	-84.29%	+82.21%
Average Drawdown Average peak-to-trough decline	-15.72%	-40.35%	+24.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.32%	—	—

Volatility

Volatility by Period

	SPXL	FUTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.49%	—	—
Volatility (6M) Calculated over the trailing 6-month period	26.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	35.39%	136.01%	-100.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.24%	136.01%	-85.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.42%	136.01%	-82.59%

SPXL vs. FUTG - Expense Ratio Comparison

SPXL has a 0.84% expense ratio, which is higher than FUTG's 0.75% expense ratio.

Dividends

SPXL vs. FUTG - Dividend Comparison

SPXL's dividend yield for the trailing twelve months is around 0.52%, while FUTG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FUTG Leverage Shares 2X Long FUTU 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	0.52%	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 FUTG in my portfolio?

SPXL and FUTG have a correlation of 0.57, 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 FUTG?

On fees, FUTG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPXL or FUTG?

FUTG is cheaper with a 0.75% expense ratio, compared with 0.84% for SPXL.

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

SPXL has the higher dividend yield at 0.52%, compared with 0.00% for FUTG.

What is the main difference between SPXL and FUTG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 0.84% for SPXL and 0.75% for FUTG.