SPXL vs. SPXU
Compare and contrast key facts about Direxion Daily S&P 500 Bull 3X Shares (SPXL) and ProShares UltraPro Short S&P500 (SPXU).
SPXL and SPXU 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. SPXU is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (-300%). It was launched on Jun 25, 2009. Both SPXL and SPXU 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 SPXU.
Key characteristics
| SPXL | SPXU | |
|---|---|---|
| YTD Return | 65.10% | -43.30% |
| 1Y Return | 93.38% | -51.66% |
| 3Y Return (Ann) | 7.95% | -27.03% |
| 5Y Return (Ann) | 24.06% | -45.89% |
| 10Y Return (Ann) | 23.93% | -39.31% |
| Sharpe Ratio | 2.59 | -1.43 |
| Sortino Ratio | 2.97 | -2.47 |
| Omega Ratio | 1.41 | 0.73 |
| Calmar Ratio | 2.45 | -0.52 |
| Martin Ratio | 15.50 | -1.45 |
| Ulcer Index | 6.05% | 35.68% |
| Daily Std Dev | 36.21% | 36.28% |
| Max Drawdown | -76.86% | -99.98% |
| Current Drawdown | -6.65% | -99.98% |
Correlation
The correlation between SPXL and SPXU is -1.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
SPXL vs. SPXU - Performance Comparison
In the year-to-date period, SPXL achieves a 65.10% return, which is significantly higher than SPXU's -43.30% return. Over the past 10 years, SPXL has outperformed SPXU with an annualized return of 23.93%, while SPXU has yielded a comparatively lower -39.31% annualized 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. SPXU - Expense Ratio Comparison
SPXL has a 1.02% expense ratio, which is higher than SPXU's 0.93% expense ratio.
Risk-Adjusted Performance
SPXL vs. SPXU - 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 ProShares UltraPro Short S&P500 (SPXU). 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. SPXU - Dividend Comparison
SPXL's dividend yield for the trailing twelve months is around 0.72%, less than SPXU's 11.18% 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% |
SPXU ProShares UltraPro Short S&P500 | 11.18% | 7.07% | 0.39% | 0.00% | 0.71% | 2.14% | 1.41% | 0.11% |
Drawdowns
SPXL vs. SPXU - Drawdown Comparison
The maximum SPXL drawdown since its inception was -76.86%, smaller than the maximum SPXU drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for SPXL and SPXU. For additional features, visit the drawdowns tool.
Volatility
SPXL vs. SPXU - Volatility Comparison
Direxion Daily S&P 500 Bull 3X Shares (SPXL) and ProShares UltraPro Short S&P500 (SPXU) have volatilities of 12.23% and 12.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.