SPXL vs. ^NDX
Compare and contrast key facts about Direxion Daily S&P 500 Bull 3X Shares (SPXL) and NASDAQ 100 (^NDX).
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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPXL or ^NDX.
Correlation
The correlation between SPXL and ^NDX is 0.90, 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. ^NDX - Performance Comparison
Key characteristics
SPXL:
1.77
^NDX:
1.41
SPXL:
2.21
^NDX:
1.92
SPXL:
1.30
^NDX:
1.26
SPXL:
2.10
^NDX:
1.88
SPXL:
10.75
^NDX:
6.74
SPXL:
6.12%
^NDX:
3.80%
SPXL:
37.22%
^NDX:
18.13%
SPXL:
-76.86%
^NDX:
-82.90%
SPXL:
-10.83%
^NDX:
-4.46%
Returns By Period
In the year-to-date period, SPXL achieves a 63.33% return, which is significantly higher than ^NDX's 25.46% return. Over the past 10 years, SPXL has outperformed ^NDX with an annualized return of 23.52%, while ^NDX has yielded a comparatively lower 17.30% annualized return.
SPXL
63.33%
-2.29%
13.62%
62.99%
21.49%
23.52%
^NDX
25.46%
2.06%
6.88%
27.52%
19.51%
17.30%
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Risk-Adjusted Performance
SPXL vs. ^NDX - 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 NASDAQ 100 (^NDX). 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.
Drawdowns
SPXL vs. ^NDX - Drawdown Comparison
The maximum SPXL drawdown since its inception was -76.86%, smaller than the maximum ^NDX drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for SPXL and ^NDX. For additional features, visit the drawdowns tool.
Volatility
SPXL vs. ^NDX - Volatility Comparison
Direxion Daily S&P 500 Bull 3X Shares (SPXL) has a higher volatility of 10.97% compared to NASDAQ 100 (^NDX) at 5.30%. This indicates that SPXL's price experiences larger fluctuations and is considered to be riskier than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.