SPXL vs. UPRO
Compare and contrast key facts about Direxion Daily S&P 500 Bull 3X Shares (SPXL) and ProShares UltraPro S&P 500 (UPRO).
SPXL and UPRO 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. UPRO is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (300%). It was launched on Jun 23, 2009. Both SPXL and UPRO 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 UPRO.
Key characteristics
| SPXL | UPRO | |
|---|---|---|
| YTD Return | 65.10% | 64.91% |
| 1Y Return | 93.38% | 93.02% |
| 3Y Return (Ann) | 7.95% | 7.44% |
| 5Y Return (Ann) | 24.06% | 23.82% |
| 10Y Return (Ann) | 23.93% | 23.95% |
| Sharpe Ratio | 2.59 | 2.57 |
| Sortino Ratio | 2.97 | 2.96 |
| Omega Ratio | 1.41 | 1.41 |
| Calmar Ratio | 2.45 | 2.40 |
| Martin Ratio | 15.50 | 15.45 |
| Ulcer Index | 6.05% | 6.05% |
| Daily Std Dev | 36.21% | 36.42% |
| Max Drawdown | -76.86% | -76.82% |
| Current Drawdown | -6.65% | -6.63% |
Correlation
The correlation between SPXL and UPRO is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SPXL vs. UPRO - Performance Comparison
The year-to-date returns for both stocks are quite close, with SPXL having a 65.10% return and UPRO slightly lower at 64.91%. Both investments have delivered pretty close results over the past 10 years, with SPXL having a 23.93% annualized return and UPRO not far ahead at 23.95%. 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. UPRO - Expense Ratio Comparison
SPXL has a 1.02% expense ratio, which is higher than UPRO's 0.92% expense ratio.
Risk-Adjusted Performance
SPXL vs. UPRO - 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 S&P 500 (UPRO). 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. UPRO - Dividend Comparison
SPXL's dividend yield for the trailing twelve months is around 0.72%, less than UPRO's 0.76% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
UPRO ProShares UltraPro S&P 500 | 0.76% | 0.74% | 0.52% | 0.06% | 0.11% | 0.53% | 0.63% | 0.00% | 0.12% | 0.34% | 0.22% | 0.07% |
Drawdowns
SPXL vs. UPRO - Drawdown Comparison
The maximum SPXL drawdown since its inception was -76.86%, roughly equal to the maximum UPRO drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for SPXL and UPRO. For additional features, visit the drawdowns tool.
Volatility
SPXL vs. UPRO - Volatility Comparison
Direxion Daily S&P 500 Bull 3X Shares (SPXL) and ProShares UltraPro S&P 500 (UPRO) have volatilities of 12.23% and 12.26%, 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.