SPXL vs. VOO
Compare and contrast key facts about Direxion Daily S&P 500 Bull 3X Shares (SPXL) and Vanguard S&P 500 ETF (VOO).
SPXL and VOO 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. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010. Both SPXL and VOO 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 VOO.
Key characteristics
| SPXL | VOO | |
|---|---|---|
| YTD Return | 65.10% | 24.51% |
| 1Y Return | 93.38% | 32.00% |
| 3Y Return (Ann) | 7.95% | 9.36% |
| 5Y Return (Ann) | 24.06% | 15.30% |
| 10Y Return (Ann) | 23.93% | 13.12% |
| Sharpe Ratio | 2.59 | 2.64 |
| Sortino Ratio | 2.97 | 3.53 |
| Omega Ratio | 1.41 | 1.49 |
| Calmar Ratio | 2.45 | 3.81 |
| Martin Ratio | 15.50 | 17.34 |
| Ulcer Index | 6.05% | 1.86% |
| Daily Std Dev | 36.21% | 12.20% |
| Max Drawdown | -76.86% | -33.99% |
| Current Drawdown | -6.65% | -2.16% |
Correlation
The correlation between SPXL and VOO 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. VOO - Performance Comparison
In the year-to-date period, SPXL achieves a 65.10% return, which is significantly higher than VOO's 24.51% return. Over the past 10 years, SPXL has outperformed VOO with an annualized return of 23.93%, while VOO has yielded a comparatively lower 13.12% 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. VOO - Expense Ratio Comparison
SPXL has a 1.02% expense ratio, which is higher than VOO's 0.03% expense ratio.
Risk-Adjusted Performance
SPXL vs. VOO - 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 Vanguard S&P 500 ETF (VOO). 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. VOO - Dividend Comparison
SPXL's dividend yield for the trailing twelve months is around 0.72%, less than VOO's 1.26% 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% |
VOO Vanguard S&P 500 ETF | 1.26% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% | 1.85% | 1.84% |
Drawdowns
SPXL vs. VOO - Drawdown Comparison
The maximum SPXL drawdown since its inception was -76.86%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for SPXL and VOO. For additional features, visit the drawdowns tool.
Volatility
SPXL vs. VOO - Volatility Comparison
Direxion Daily S&P 500 Bull 3X Shares (SPXL) has a higher volatility of 12.23% compared to Vanguard S&P 500 ETF (VOO) at 4.09%. This indicates that SPXL's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.