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.
Key characteristics
| SPXL | ^NDX | |
|---|---|---|
| YTD Return | 13.67% | 3.59% |
| 1Y Return | 70.50% | 36.11% |
| 3Y Return (Ann) | 6.72% | 7.52% |
| 5Y Return (Ann) | 18.56% | 17.40% |
| 10Y Return (Ann) | 22.81% | 17.29% |
| Sharpe Ratio | 1.96 | 2.24 |
| Daily Std Dev | 34.83% | 16.49% |
| Max Drawdown | -76.86% | -82.90% |
| Current Drawdown | -17.75% | -4.96% |
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
In the year-to-date period, SPXL achieves a 13.67% return, which is significantly higher than ^NDX's 3.59% return. Over the past 10 years, SPXL has outperformed ^NDX with an annualized return of 22.81%, while ^NDX has yielded a comparatively lower 17.29% 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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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 10.60% compared to NASDAQ 100 (^NDX) at 4.95%. 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.