SPYU.DE vs. SPXL
SPYU.DE (SPDR MSCI Europe Utilities UCITS ETF) and SPXL (Direxion Daily S&P 500 Bull 3X ETF) are both exchange-traded funds - SPYU.DE is a Utilities Equities fund tracking the MSCI Europe Utilities 20/35 Capped, while SPXL is a Leveraged Equities fund tracking the S&P 500. Both are passively managed. Over the past 10 years, SPYU.DE returned 10.70%/yr vs 29.86%/yr for SPXL. At a 0.31 correlation, their price movements are largely independent. SPYU.DE charges 0.18%/yr vs 0.84%/yr for SPXL.
Performance
SPYU.DE vs. SPXL - Performance Comparison
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Different Trading Currencies
SPYU.DE is traded in EUR, while SPXL is traded in USD. To make them comparable, the SPXL values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPYU.DE achieves a 13.06% return, which is significantly lower than SPXL's 31.00% return. Over the past 10 years, SPYU.DE has underperformed SPXL with an annualized return of 10.70%, while SPXL has yielded a comparatively higher 29.86% annualized return.
SPYU.DE
- 1D
- -0.28%
- 1M
- -3.02%
- YTD
- 13.06%
- 6M
- 14.07%
- 1Y
- 26.75%
- 3Y*
- 16.61%
- 5Y*
- 11.82%
- 10Y*
- 10.70%
SPXL
- 1D
- 0.93%
- 1M
- 14.12%
- YTD
- 31.00%
- 6M
- 28.26%
- 1Y
- 80.77%
- 3Y*
- 49.62%
- 5Y*
- 24.92%
- 10Y*
- 29.86%
SPYU.DE vs. SPXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYU.DE SPDR MSCI Europe Utilities UCITS ETF | 13.06% | 34.39% | 0.99% | 13.57% | -7.97% | 8.80% | 11.01% | 31.91% | 2.41% | 9.05% |
SPXL Direxion Daily S&P 500 Bull 3X ETF | 31.00% | 16.28% | 74.41% | 64.40% | -53.86% | 113.62% | 0.60% | 107.38% | -21.60% | 50.01% |
Correlation
The correlation between SPYU.DE and SPXL is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since May 14, 2013 | 0.31 |
Over the past year, the correlation between SPYU.DE and SPXL has dropped to 0.09 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.
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Return for Risk
SPYU.DE vs. SPXL — Risk / Return Rank
SPYU.DE
SPXL
SPYU.DE vs. SPXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Utilities UCITS ETF (SPYU.DE) and Direxion Daily S&P 500 Bull 3X ETF (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.
| SPYU.DE | SPXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.37 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 3.19 | +0.40 |
| Martin ratioReturn relative to average drawdown | 10.13 | 12.94 | -2.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPYU.DE | SPXL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | 2.34 | -0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.51 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.57 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.56 | +0.01 |
Drawdowns
SPYU.DE vs. SPXL - Drawdown Comparison
The maximum SPYU.DE drawdown since its inception was -32.98%, smaller than the maximum SPXL drawdown of -76.68%. Use the drawdown chart below to compare losses from any high point for SPYU.DE and SPXL.
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Drawdown Indicators
| SPYU.DE | SPXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.98% | -76.68% | +43.70% |
Max Drawdown (1Y)Largest decline over 1 year | -7.43% | -25.47% | +18.04% |
Max Drawdown (3Y)Largest decline over 3 years | -13.44% | -51.40% | +37.96% |
Max Drawdown (5Y)Largest decline over 5 years | -22.28% | -57.86% | +35.58% |
Max Drawdown (10Y)Largest decline over 10 years | -32.98% | -76.68% | +43.70% |
Current DrawdownCurrent decline from peak | -5.24% | -0.89% | -4.35% |
Average DrawdownAverage peak-to-trough decline | -5.63% | -15.46% | +9.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 6.26% | -3.63% |
Volatility
SPYU.DE vs. SPXL - Volatility Comparison
The current volatility for SPDR MSCI Europe Utilities UCITS ETF (SPYU.DE) is 5.85%, while Direxion Daily S&P 500 Bull 3X ETF (SPXL) has a volatility of 7.56%. This indicates that SPYU.DE experiences smaller price fluctuations and is considered to be less risky than SPXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYU.DE | SPXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.85% | 7.56% | -1.71% |
Volatility (6M)Calculated over the trailing 6-month period | 12.96% | 25.63% | -12.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.86% | 34.64% | -19.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.01% | 48.91% | -32.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.05% | 52.89% | -35.84% |
SPYU.DE vs. SPXL - Expense Ratio Comparison
SPYU.DE has a 0.18% expense ratio, which is lower than SPXL's 0.84% expense ratio.
Dividends
SPYU.DE vs. SPXL - Dividend Comparison
SPYU.DE has not paid dividends to shareholders, while SPXL's dividend yield for the trailing twelve months is around 0.52%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SPXL Direxion Daily S&P 500 Bull 3X ETF | 0.52% | 0.69% | 0.74% | 0.98% | 0.32% | 0.11% | 0.22% | 0.84% | 1.02% | 3.88% |
SPYU.DE SPDR MSCI Europe Utilities UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPYU.DE and SPXL have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYU.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYU.DE is cheaper with a 0.18% expense ratio, compared with 0.84% for SPXL.
SPYU.DE is categorized as Utilities Equities, while SPXL is Leveraged Equities. SPYU.DE tracks MSCI Europe Utilities 20/35 Capped, while SPXL tracks S&P 500. They also come from different issuers: State Street and Direxion. Their fees differ too: 0.18% for SPYU.DE and 0.84% for SPXL.
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