SPXS vs. SQQQ
Compare and contrast key facts about Direxion Daily S&P 500 Bear 3X Shares (SPXS) and ProShares UltraPro Short QQQ (SQQQ).
SPXS and SQQQ 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. SQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-300%). It was launched on Feb 9, 2010. Both SPXS and SQQQ 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 SQQQ.
Key characteristics
| SPXS | SQQQ | |
|---|---|---|
| YTD Return | -42.94% | -45.78% |
| 1Y Return | -51.19% | -54.25% |
| 3Y Return (Ann) | -26.90% | -37.09% |
| 5Y Return (Ann) | -45.88% | -58.82% |
| 10Y Return (Ann) | -39.54% | -51.95% |
| Sharpe Ratio | -1.41 | -1.04 |
| Sortino Ratio | -2.43 | -1.73 |
| Omega Ratio | 0.74 | 0.81 |
| Calmar Ratio | -0.51 | -0.54 |
| Martin Ratio | -1.45 | -1.41 |
| Ulcer Index | 35.29% | 38.48% |
| Daily Std Dev | 36.31% | 52.20% |
| Max Drawdown | -100.00% | -100.00% |
| Current Drawdown | -100.00% | -100.00% |
Correlation
The correlation between SPXS and SQQQ is 0.87, 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. SQQQ - Performance Comparison
In the year-to-date period, SPXS achieves a -42.94% return, which is significantly higher than SQQQ's -45.78% return. Over the past 10 years, SPXS has outperformed SQQQ with an annualized return of -39.54%, while SQQQ has yielded a comparatively lower -51.95% 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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SPXS vs. SQQQ - Expense Ratio Comparison
SPXS has a 1.08% expense ratio, which is higher than SQQQ's 0.95% expense ratio.
Risk-Adjusted Performance
SPXS vs. SQQQ - 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 QQQ (SQQQ). 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. SQQQ - Dividend Comparison
SPXS's dividend yield for the trailing twelve months is around 6.99%, less than SQQQ's 9.08% 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% |
SQQQ ProShares UltraPro Short QQQ | 9.08% | 8.01% | 0.06% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Drawdowns
SPXS vs. SQQQ - Drawdown Comparison
The maximum SPXS drawdown since its inception was -100.00%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SPXS and SQQQ. For additional features, visit the drawdowns tool.
Volatility
SPXS vs. SQQQ - Volatility Comparison
The current volatility for Direxion Daily S&P 500 Bear 3X Shares (SPXS) is 12.41%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 16.81%. This indicates that SPXS experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.