SPXL vs. XDQQ
Compare and contrast key facts about Direxion Daily S&P 500 Bull 3X Shares (SPXL) and Innovator Growth Accelerated ETF - Quarterly (XDQQ).
SPXL and XDQQ 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. XDQQ is an actively managed fund by Innovator. It was launched on Apr 1, 2021.
Performance
SPXL vs. XDQQ - Performance Comparison
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SPXL vs. XDQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPXL Direxion Daily S&P 500 Bull 3X Shares | -14.06% | 31.94% | 63.61% | 69.49% | -56.55% | 64.04% |
XDQQ Innovator Growth Accelerated ETF - Quarterly | -5.48% | 13.75% | 31.47% | 30.15% | -33.74% | 18.29% |
Returns By Period
In the year-to-date period, SPXL achieves a -14.06% return, which is significantly lower than XDQQ's -5.48% return.
SPXL
- 1D
- 2.30%
- 1M
- -13.75%
- YTD
- -14.06%
- 6M
- -11.40%
- 1Y
- 34.55%
- 3Y*
- 38.52%
- 5Y*
- 17.51%
- 10Y*
- 25.61%
XDQQ
- 1D
- 1.03%
- 1M
- -5.50%
- YTD
- -5.48%
- 6M
- -1.65%
- 1Y
- 16.74%
- 3Y*
- 17.89%
- 5Y*
- —
- 10Y*
- —
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SPXL vs. XDQQ - Expense Ratio Comparison
SPXL has a 1.02% expense ratio, which is higher than XDQQ's 0.79% expense ratio.
Return for Risk
SPXL vs. XDQQ — Risk / Return Rank
SPXL
XDQQ
SPXL vs. XDQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 Bull 3X Shares (SPXL) and Innovator Growth Accelerated ETF - Quarterly (XDQQ). 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 | XDQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.64 | 0.78 | -0.15 |
Sortino ratioReturn per unit of downside risk | 1.22 | 1.27 | -0.06 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.20 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.07 | 1.38 | -0.30 |
Martin ratioReturn relative to average drawdown | 4.25 | 6.03 | -1.77 |
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 | XDQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.64 | 0.78 | -0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.38 | +0.10 |
Correlation
The correlation between SPXL and XDQQ is 0.89, 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.
Dividends
SPXL vs. XDQQ - Dividend Comparison
SPXL's dividend yield for the trailing twelve months is around 0.78%, while XDQQ has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPXL Direxion Daily S&P 500 Bull 3X Shares | 0.78% | 0.69% | 0.74% | 0.98% | 0.32% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% |
XDQQ Innovator Growth Accelerated ETF - Quarterly | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPXL vs. XDQQ - Drawdown Comparison
The maximum SPXL drawdown since its inception was -76.86%, which is greater than XDQQ's maximum drawdown of -35.63%. Use the drawdown chart below to compare losses from any high point for SPXL and XDQQ.
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Drawdown Indicators
| SPXL | XDQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.86% | -35.63% | -41.23% |
Max Drawdown (1Y)Largest decline over 1 year | -33.42% | -12.64% | -20.78% |
Max Drawdown (5Y)Largest decline over 5 years | -63.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -76.86% | — | — |
Current DrawdownCurrent decline from peak | -18.62% | -7.84% | -10.78% |
Average DrawdownAverage peak-to-trough decline | -15.85% | -11.14% | -4.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.42% | 2.88% | +5.54% |
Volatility
SPXL vs. XDQQ - Volatility Comparison
Direxion Daily S&P 500 Bull 3X Shares (SPXL) has a higher volatility of 16.04% compared to Innovator Growth Accelerated ETF - Quarterly (XDQQ) at 7.13%. This indicates that SPXL's price experiences larger fluctuations and is considered to be riskier than XDQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPXL | XDQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.04% | 7.13% | +8.91% |
Volatility (6M)Calculated over the trailing 6-month period | 28.52% | 12.80% | +15.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.32% | 21.42% | +32.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 19.95% | +30.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.36% | 19.95% | +33.41% |