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:
0.15
^NDX:
0.44
SPXL:
0.61
^NDX:
0.78
SPXL:
1.09
^NDX:
1.11
SPXL:
0.18
^NDX:
0.48
SPXL:
0.60
^NDX:
1.59
SPXL:
14.66%
^NDX:
6.96%
SPXL:
56.98%
^NDX:
25.23%
SPXL:
-76.86%
^NDX:
-82.90%
SPXL:
-29.62%
^NDX:
-10.41%
Returns By Period
In the year-to-date period, SPXL achieves a -21.20% return, which is significantly lower than ^NDX's -5.45% return. Over the past 10 years, SPXL has outperformed ^NDX with an annualized return of 19.90%, while ^NDX has yielded a comparatively lower 16.16% annualized return.
SPXL
-21.20%
31.51%
-24.32%
5.15%
30.44%
19.90%
^NDX
-5.45%
13.98%
-4.40%
9.82%
16.67%
16.16%
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Risk-Adjusted Performance
SPXL vs. ^NDX — Risk-Adjusted Performance Rank
SPXL
^NDX
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 32.13% compared to NASDAQ 100 (^NDX) at 14.07%. 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.