SPXS vs. VADGX

Last updated Jun 4, 2026

SPXS (Direxion Daily S&P 500 Bear 3X Shares) and VADGX (Vanguard Advice Select Dividend Growth Fund) are both funds - SPXS is a Inverse Equities fund tracking the S&P 500 Index (-300%), while VADGX is a Large Cap Blend Equities fund managed by Vanguard. Over the past 3 years, SPXS returned -42.68%/yr vs 9.57%/yr for VADGX. At a correlation of -0.80, they often move in opposite directions. SPXS charges 1.08%/yr vs 0.45%/yr for VADGX.

Performance

SPXS vs. VADGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily S&P 500 Bear 3X Shares (SPXS) and Vanguard Advice Select Dividend Growth Fund (VADGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPXS achieves a -25.49% return, which is significantly lower than VADGX's 1.28% return.

SPXS

• 1D: 2.19%
• 1M: -13.11%
• YTD: -25.49%
• 6M: -24.86%
• 1Y: -48.73%
• 3Y*: -42.68%
• 5Y*: -34.76%
• 10Y*: -42.01%

VADGX

• 1D: 0.09%
• 1M: 3.76%
• YTD: 1.28%
• 6M: 1.32%
• 1Y: 6.94%
• 3Y*: 9.57%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPXS vs. VADGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPXS Direxion Daily S&P 500 Bear 3X Shares	-25.49%	-41.53%	-42.84%	-45.97%	36.14%	-7.93%
VADGX Vanguard Advice Select Dividend Growth Fund	1.28%	8.52%	10.69%	10.42%	-3.88%	3.62%

Correlation

The correlation between SPXS and VADGX is -0.74, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.74
Correlation (3Y) Calculated over the trailing 3-year period	-0.72
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021	-0.80

The correlation between SPXS and VADGX has been stable across timeframes, ranging from -0.80 to -0.72 - a consistent structural relationship.

Return for Risk

SPXS vs. VADGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPXS

SPXS Risk / Return Rank: 1
SPXS Sharpe Ratio Rank: 0
SPXS Sortino Ratio Rank: 0
SPXS Omega Ratio Rank: 0
SPXS Calmar Ratio Rank: 1
SPXS Martin Ratio Rank: 1

VADGX

VADGX Risk / Return Rank: 8
VADGX Sharpe Ratio Rank: 9
VADGX Sortino Ratio Rank: 9
VADGX Omega Ratio Rank: 8
VADGX Calmar Ratio Rank: 7
VADGX Martin Ratio Rank: 8

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPXS vs. VADGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 Bear 3X Shares (SPXS) and Vanguard Advice Select Dividend Growth Fund (VADGX). 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.

	SPXS	VADGX	Difference
Sharpe ratio: Return per unit of total volatility	-1.38	0.72	-2.10
Sortino ratio: Return per unit of downside risk	-2.31	1.11	-3.42
Omega ratio: Gain probability vs. loss probability	0.75	1.13	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.96	0.67	-1.63
Martin ratio: Return relative to average drawdown	-1.62	2.40	-4.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPXS vs. VADGX - Sharpe Ratio Comparison

The current SPXS Sharpe Ratio is -1.38, which is lower than the VADGX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of SPXS and VADGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPXS	VADGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.38	0.72	-2.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.69	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.83	0.49	-1.32

Drawdowns

SPXS vs. VADGX - Drawdown Comparison

The maximum SPXS drawdown since its inception was -100.00%, which is greater than VADGX's maximum drawdown of -15.75%. Use the drawdown chart below to compare losses from any high point for SPXS and VADGX.

Drawdown Indicators

	SPXS	VADGX	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-15.75%	-84.25%
Max Drawdown (1Y) Largest decline over 1 year	-50.77%	-11.07%	-39.70%
Max Drawdown (3Y) Largest decline over 3 years	-84.13%	-14.73%	-69.40%
Max Drawdown (5Y) Largest decline over 5 years	-90.11%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.63%	—	—
Current Drawdown Current decline from peak	-100.00%	-0.91%	-99.09%
Average Drawdown Average peak-to-trough decline	-96.30%	-3.48%	-92.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.04%	3.06%	+26.98%

Volatility

SPXS vs. VADGX - Volatility Comparison

Direxion Daily S&P 500 Bear 3X Shares (SPXS) has a higher volatility of 8.51% compared to Vanguard Advice Select Dividend Growth Fund (VADGX) at 2.32%. This indicates that SPXS's price experiences larger fluctuations and is considered to be riskier than VADGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPXS	VADGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.51%	2.32%	+6.19%
Volatility (6M) Calculated over the trailing 6-month period	26.82%	7.80%	+19.02%
Volatility (1Y) Calculated over the trailing 1-year period	35.54%	10.16%	+25.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.39%	13.63%	+36.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.54%	13.63%	+39.91%

SPXS vs. VADGX - Expense Ratio Comparison

SPXS has a 1.08% expense ratio, which is higher than VADGX's 0.45% expense ratio.

Dividends

SPXS vs. VADGX - Dividend Comparison

SPXS's dividend yield for the trailing twelve months is around 4.91%, more than VADGX's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
SPXS Direxion Daily S&P 500 Bear 3X Shares	4.91%	4.93%	6.18%	5.66%	0.00%	0.00%	0.51%	1.74%	0.58%
VADGX Vanguard Advice Select Dividend Growth Fund	1.02%	1.04%	1.98%	1.25%	0.84%	0.16%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPXS and VADGX in my portfolio?

SPXS and VADGX have a correlation of -0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPXS or VADGX?

SPXS has higher volatility (8.51%) compared to VADGX (2.32%). In terms of maximum drawdown, SPXS dropped -100.00% vs VADGX's -15.75%.

Which has better risk-adjusted returns?

VADGX currently has the higher Sharpe Ratio (0.72 vs -1.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.