SPXS vs. SPXU
Compare and contrast key facts about Direxion Daily S&P 500 Bear 3X Shares (SPXS) and ProShares UltraPro Short S&P500 (SPXU).
SPXS and SPXU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPXS 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. SPXU is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (-300%). It was launched on Jun 25, 2009. Both SPXS and SPXU 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: SPXS or SPXU.
Key characteristics
| SPXS | SPXU | |
|---|---|---|
| YTD Return | -42.94% | -43.30% |
| 1Y Return | -51.19% | -51.66% |
| 3Y Return (Ann) | -26.90% | -27.03% |
| 5Y Return (Ann) | -45.88% | -45.89% |
| 10Y Return (Ann) | -39.54% | -39.31% |
| Sharpe Ratio | -1.41 | -1.43 |
| Sortino Ratio | -2.43 | -2.47 |
| Omega Ratio | 0.74 | 0.73 |
| Calmar Ratio | -0.51 | -0.52 |
| Martin Ratio | -1.45 | -1.45 |
| Ulcer Index | 35.29% | 35.68% |
| Daily Std Dev | 36.31% | 36.28% |
| Max Drawdown | -100.00% | -99.98% |
| Current Drawdown | -100.00% | -99.98% |
Correlation
The correlation between SPXS and SPXU 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
SPXS vs. SPXU - Performance Comparison
The year-to-date returns for both stocks are quite close, with SPXS having a -42.94% return and SPXU slightly lower at -43.30%. Both investments have delivered pretty close results over the past 10 years, with SPXS having a -39.54% annualized return and SPXU not far ahead at -39.31%. 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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SPXS vs. SPXU - Expense Ratio Comparison
SPXS has a 1.08% expense ratio, which is higher than SPXU's 0.93% expense ratio.
Risk-Adjusted Performance
SPXS vs. SPXU - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 Bear 3X Shares (SPXS) and ProShares UltraPro Short S&P500 (SPXU). 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
SPXS vs. SPXU - Dividend Comparison
SPXS's dividend yield for the trailing twelve months is around 6.99%, less than SPXU's 11.18% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
SPXS Direxion Daily S&P 500 Bear 3X Shares | 6.99% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% | 0.00% |
SPXU ProShares UltraPro Short S&P500 | 11.18% | 7.07% | 0.39% | 0.00% | 0.71% | 2.14% | 1.41% | 0.11% |
Drawdowns
SPXS vs. SPXU - Drawdown Comparison
The maximum SPXS drawdown since its inception was -100.00%, roughly equal to the maximum SPXU drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for SPXS and SPXU. For additional features, visit the drawdowns tool.
Volatility
SPXS vs. SPXU - Volatility Comparison
Direxion Daily S&P 500 Bear 3X Shares (SPXS) and ProShares UltraPro Short S&P500 (SPXU) have volatilities of 12.41% and 12.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.