SPXU vs. SPXS
Compare and contrast key facts about ProShares UltraPro Short S&P500 (SPXU) and Direxion Daily S&P 500 Bear 3X Shares (SPXS).
SPXU and SPXS 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. 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. Both SPXU and SPXS 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 SPXS.
Performance
SPXU vs. SPXS - Performance Comparison
Returns By Period
The year-to-date returns for both investments are quite close, with SPXU having a -44.60% return and SPXS slightly higher at -44.21%. Both investments have delivered pretty close results over the past 10 years, with SPXU having a -39.34% annualized return and SPXS not far behind at -39.57%.
SPXU
-44.60%
-3.02%
-26.07%
-51.78%
-46.30%
-39.34%
SPXS
-44.21%
-2.83%
-25.73%
-51.31%
-46.29%
-39.57%
Key characteristics
| SPXU | SPXS | |
|---|---|---|
| Sharpe Ratio | -1.42 | -1.41 |
| Sortino Ratio | -2.45 | -2.42 |
| Omega Ratio | 0.73 | 0.74 |
| Calmar Ratio | -0.52 | -0.51 |
| Martin Ratio | -1.47 | -1.47 |
| Ulcer Index | 34.97% | 34.60% |
| Daily Std Dev | 36.25% | 36.27% |
| Max Drawdown | -99.98% | -100.00% |
| Current Drawdown | -99.98% | -100.00% |
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SPXU vs. SPXS - Expense Ratio Comparison
SPXU has a 0.93% expense ratio, which is lower than SPXS's 1.08% expense ratio.
Correlation
The correlation between SPXU and SPXS 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.
Risk-Adjusted Performance
SPXU vs. SPXS - 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 3X Shares (SPXS). 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. SPXS - Dividend Comparison
SPXU's dividend yield for the trailing twelve months is around 11.44%, more than SPXS's 7.15% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
SPXU ProShares UltraPro Short S&P500 | 11.44% | 7.07% | 0.39% | 0.00% | 0.71% | 2.14% | 1.41% | 0.11% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | 7.15% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% | 0.00% |
Drawdowns
SPXU vs. SPXS - Drawdown Comparison
The maximum SPXU drawdown since its inception was -99.98%, roughly equal to the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SPXU and SPXS. For additional features, visit the drawdowns tool.
Volatility
SPXU vs. SPXS - Volatility Comparison
ProShares UltraPro Short S&P500 (SPXU) and Direxion Daily S&P 500 Bear 3X Shares (SPXS) have volatilities of 12.43% and 12.45%, 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.