SPXL vs. NTSD

Last updated Jun 4, 2026

SPXL (Direxion Daily S&P 500 Bull 3X ETF) and NTSD (WisdomTree Efficient U.S. Plus International Equity Fund) are both Leveraged Equities funds. SPXL is passively managed, while NTSD is actively managed. Their correlation of 0.94 suggests significant overlap in exposure. SPXL charges 0.84%/yr vs 0.35%/yr for NTSD.

Performance

SPXL vs. NTSD - 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 WisdomTree Efficient U.S. Plus International Equity Fund (NTSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

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%

NTSD

• 1D: -1.11%
• 1M: 7.13%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPXL vs. NTSD - Yearly Performance Comparison

	2026 (YTD)
SPXL Direxion Daily S&P 500 Bull 3X ETF	45.91%
NTSD WisdomTree Efficient U.S. Plus International Equity Fund	17.91%

Correlation

The correlation between SPXL and NTSD is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 20, 2026	0.94

Return for Risk

SPXL vs. NTSD — 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. NTSD - 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 WisdomTree Efficient U.S. Plus International Equity Fund (NTSD). 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	NTSD	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	NTSD	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	5.08	-4.55

Drawdowns

SPXL vs. NTSD - Drawdown Comparison

The maximum SPXL drawdown since its inception was -76.86%, which is greater than NTSD's maximum drawdown of -5.20%. Use the drawdown chart below to compare losses from any high point for SPXL and NTSD.

Drawdown Indicators

	SPXL	NTSD	Difference
Max Drawdown Largest peak-to-trough decline	-76.86%	-5.20%	-71.66%
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%	-1.11%	-0.97%
Average Drawdown Average peak-to-trough decline	-15.72%	-0.84%	-14.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.32%	—	—

Volatility

Volatility by Period

	SPXL	NTSD	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%	24.28%	+11.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.24%	24.28%	+25.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.42%	24.28%	+29.14%

SPXL vs. NTSD - Expense Ratio Comparison

SPXL has a 0.84% expense ratio, which is higher than NTSD's 0.35% expense ratio.

Dividends

SPXL vs. NTSD - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NTSD WisdomTree Efficient U.S. Plus International Equity Fund	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 NTSD in my portfolio?

With a correlation of 0.94, SPXL and NTSD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, SPXL or NTSD?

On fees, NTSD is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPXL or NTSD?

NTSD is cheaper with a 0.35% expense ratio, compared with 0.84% for SPXL.

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

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

What is the main difference between SPXL and NTSD?

They also come from different issuers: Direxion and WisdomTree. Their fees differ too: 0.84% for SPXL and 0.35% for NTSD.