SPXL vs. USD=X
SPXL (Direxion Daily S&P 500 Bull 3X ETF) is Leveraged Equities fund tracking the S&P 500, while USD=X (USD Cash) is a currency. Over the past 10 years, SPXL returned 29.42%/yr vs 0.00%/yr for USD=X.
Performance
SPXL vs. USD=X - Performance Comparison
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Returns By Period
SPXL
- 1D
- 0.75%
- 1M
- -0.39%
- YTD
- 20.19%
- 6M
- 19.28%
- 1Y
- 68.17%
- 3Y*
- 49.02%
- 5Y*
- 22.10%
- 10Y*
- 29.42%
USD=X
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 0.00%
- 3Y*
- 0.00%
- 5Y*
- 0.00%
- 10Y*
- 0.00%
SPXL vs. USD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPXL Direxion Daily S&P 500 Bull 3X ETF | 20.19% | 31.94% | 63.61% | 69.49% | -56.55% | 98.75% | 9.64% | 102.80% | -25.11% | 71.03% |
USD=X USD Cash | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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Return for Risk
SPXL vs. USD=X — Risk / Return Rank
SPXL
USD=X
SPXL vs. USD=X - 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 USD Cash (USD=X). 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 | USD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.31 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | — | — |
| Martin ratioReturn relative to average drawdown | 10.74 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPXL | USD=X | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.89 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | — | — |
Drawdowns
SPXL vs. USD=X - Drawdown Comparison
The maximum SPXL drawdown since its inception was -76.86%, which is greater than USD=X's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SPXL and USD=X.
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Drawdown Indicators
| SPXL | USD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.86% | 0.00% | -76.86% |
Max Drawdown (1Y)Largest decline over 1 year | -26.77% | 0.00% | -26.77% |
Max Drawdown (3Y)Largest decline over 3 years | -48.95% | 0.00% | -48.95% |
Max Drawdown (5Y)Largest decline over 5 years | -63.80% | 0.00% | -63.80% |
Max Drawdown (10Y)Largest decline over 10 years | -76.86% | 0.00% | -76.86% |
Current DrawdownCurrent decline from peak | -8.16% | 0.00% | -8.16% |
Average DrawdownAverage peak-to-trough decline | -15.72% | 0.00% | -15.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.37% | 0.00% | +6.37% |
Volatility
SPXL vs. USD=X - Volatility Comparison
Direxion Daily S&P 500 Bull 3X ETF (SPXL) has a higher volatility of 11.41% compared to USD Cash (USD=X) at 0.00%. This indicates that SPXL's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPXL | USD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.41% | 0.00% | +11.41% |
Volatility (6M)Calculated over the trailing 6-month period | 27.97% | 0.00% | +27.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.23% | 0.00% | +36.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.36% | 0.00% | +50.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.49% | 0.00% | +53.49% |
Frequently Asked Questions
SPXL has higher volatility (11.41%) compared to USD=X (0.00%). In terms of maximum drawdown, SPXL dropped -76.86% vs USD=X's 0.00%.
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