SPXU vs. SPDN
Compare and contrast key facts about ProShares UltraPro Short S&P500 (SPXU) and Direxion Daily S&P 500 Bear 1x Shares (SPDN).
SPXU and SPDN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. SPDN is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index. It was launched on Jun 8, 2016. Both SPXU and SPDN 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: SPXU or SPDN.
Performance
SPXU vs. SPDN - Performance Comparison
Returns By Period
In the year-to-date period, SPXU achieves a -45.44% return, which is significantly lower than SPDN's -14.43% return.
SPXU
-45.44%
-4.65%
-28.85%
-52.04%
-46.44%
-39.38%
SPDN
-14.43%
-1.08%
-8.28%
-17.79%
-13.75%
N/A
Key characteristics
| SPXU | SPDN | |
|---|---|---|
| Sharpe Ratio | -1.45 | -1.48 |
| Sortino Ratio | -2.52 | -2.15 |
| Omega Ratio | 0.73 | 0.77 |
| Calmar Ratio | -0.53 | -0.26 |
| Martin Ratio | -1.50 | -1.55 |
| Ulcer Index | 35.01% | 11.62% |
| Daily Std Dev | 36.27% | 12.18% |
| Max Drawdown | -99.98% | -70.57% |
| Current Drawdown | -99.98% | -70.25% |
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SPXU vs. SPDN - Expense Ratio Comparison
SPXU has a 0.93% expense ratio, which is higher than SPDN's 0.50% expense ratio.
Correlation
The correlation between SPXU and SPDN is 0.99, 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.
Risk-Adjusted Performance
SPXU vs. SPDN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short S&P500 (SPXU) and Direxion Daily S&P 500 Bear 1x Shares (SPDN). 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
SPXU vs. SPDN - Dividend Comparison
SPXU's dividend yield for the trailing twelve months is around 11.62%, more than SPDN's 6.04% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
SPXU ProShares UltraPro Short S&P500 | 11.62% | 7.07% | 0.39% | 0.00% | 0.71% | 2.14% | 1.41% | 0.11% |
SPDN Direxion Daily S&P 500 Bear 1x Shares | 6.04% | 5.84% | 0.96% | 0.00% | 0.10% | 1.88% | 1.24% | 0.42% |
Drawdowns
SPXU vs. SPDN - Drawdown Comparison
The maximum SPXU drawdown since its inception was -99.98%, which is greater than SPDN's maximum drawdown of -70.57%. Use the drawdown chart below to compare losses from any high point for SPXU and SPDN. For additional features, visit the drawdowns tool.
Volatility
SPXU vs. SPDN - Volatility Comparison
ProShares UltraPro Short S&P500 (SPXU) has a higher volatility of 12.10% compared to Direxion Daily S&P 500 Bear 1x Shares (SPDN) at 3.98%. This indicates that SPXU's price experiences larger fluctuations and is considered to be riskier than SPDN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.