SPXU vs. SPXL
Compare and contrast key facts about ProShares UltraPro Short S&P500 (SPXU) and Direxion Daily S&P 500 Bull 3X Shares (SPXL).
SPXU and SPXL 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. 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. Both SPXU and SPXL 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 SPXL.
Performance
SPXU vs. SPXL - Performance Comparison
Returns By Period
In the year-to-date period, SPXU achieves a -45.44% return, which is significantly lower than SPXL's 71.49% return. Over the past 10 years, SPXU has underperformed SPXL with an annualized return of -39.38%, while SPXL has yielded a comparatively higher 24.10% annualized return.
SPXU
-45.44%
-4.65%
-28.85%
-52.04%
-46.44%
-39.38%
SPXL
71.49%
3.88%
34.00%
94.94%
25.27%
24.10%
Key characteristics
| SPXU | SPXL | |
|---|---|---|
| Sharpe Ratio | -1.45 | 2.68 |
| Sortino Ratio | -2.52 | 3.04 |
| Omega Ratio | 0.73 | 1.42 |
| Calmar Ratio | -0.53 | 2.64 |
| Martin Ratio | -1.50 | 15.98 |
| Ulcer Index | 35.01% | 6.08% |
| Daily Std Dev | 36.27% | 36.19% |
| Max Drawdown | -99.98% | -76.86% |
| Current Drawdown | -99.98% | -3.03% |
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SPXU vs. SPXL - Expense Ratio Comparison
SPXU has a 0.93% expense ratio, which is lower than SPXL's 1.02% expense ratio.
Correlation
The correlation between SPXU and SPXL is -1.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Risk-Adjusted Performance
SPXU vs. SPXL - 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 Bull 3X Shares (SPXL). 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. SPXL - Dividend Comparison
SPXU's dividend yield for the trailing twelve months is around 11.62%, more than SPXL's 0.69% 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% |
SPXL Direxion Daily S&P 500 Bull 3X Shares | 0.69% | 0.98% | 0.33% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% |
Drawdowns
SPXU vs. SPXL - Drawdown Comparison
The maximum SPXU drawdown since its inception was -99.98%, which is greater than SPXL's maximum drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for SPXU and SPXL. For additional features, visit the drawdowns tool.
Volatility
SPXU vs. SPXL - Volatility Comparison
ProShares UltraPro Short S&P500 (SPXU) and Direxion Daily S&P 500 Bull 3X Shares (SPXL) have volatilities of 12.10% and 11.95%, 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.