TSXU vs. SPXS
TSXU (Direxion Daily Semiconductors Top 5 Bull 2X Shares) and SPXS (Direxion Daily S&P 500 Bear 3X Shares) are both exchange-traded funds - TSXU is a Leveraged Equities fund tracking the Solactive Semiconductor Top 5 Index (2x), while SPXS is a Inverse Equities fund tracking the S&P 500 Index (-300%). Both are passively managed. At a correlation of -0.74, they often move in opposite directions. TSXU charges 1.05%/yr vs 1.08%/yr for SPXS.
Performance
TSXU vs. SPXS - Performance Comparison
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Returns By Period
In the year-to-date period, TSXU achieves a 86.53% return, which is significantly higher than SPXS's -24.88% return.
TSXU
- 1D
- -8.45%
- 1M
- -10.51%
- 6M
- 60.40%
- YTD
- 86.53%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXS
- 1D
- 1.67%
- 1M
- -0.21%
- 6M
- -21.79%
- YTD
- -24.88%
- 1Y
- -41.05%
- 3Y*
- -39.52%
- 5Y*
- -33.62%
- 10Y*
- -41.24%
TSXU vs. SPXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares | 86.53% | 37.96% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | -24.88% | -6.12% |
Correlation
The correlation between TSXU and SPXS 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 (All Time) Calculated using the full available price history since Oct 1, 2025 | -0.74 |
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Return for Risk
TSXU vs. SPXS — Risk / Return Rank
TSXU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPXS
TSXU vs. SPXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductors Top 5 Bull 2X Shares (TSXU) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TSXU | SPXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.82 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.94 | — |
| Martin ratioReturn relative to average drawdown | — | -1.62 | — |
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Drawdowns
TSXU vs. SPXS - Drawdown Comparison
The maximum TSXU drawdown since its inception was -35.62%, smaller than the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TSXU and SPXS.
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Drawdown Indicators
| TSXU | SPXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.62% | -100.00% | +64.38% |
Max Drawdown (1Y)Largest decline over 1 year | — | -43.64% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -84.13% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.56% | — |
Current DrawdownCurrent decline from peak | -24.58% | -100.00% | +75.42% |
Average DrawdownAverage peak-to-trough decline | -10.99% | -96.31% | +85.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 25.40% | — |
Volatility
TSXU vs. SPXS - Volatility Comparison
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Volatility by Period
| TSXU | SPXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 10.70% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 30.07% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 90.63% | 37.65% | +52.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.63% | 50.74% | +39.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.63% | 53.50% | +37.13% |
TSXU vs. SPXS - Expense Ratio Comparison
TSXU has a 1.05% expense ratio, which is lower than SPXS's 1.08% expense ratio.
Dividends
TSXU vs. SPXS - Dividend Comparison
TSXU's dividend yield for the trailing twelve months is around 1.88%, less than SPXS's 4.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SPXS Direxion Daily S&P 500 Bear 3X Shares | 4.52% | 4.93% | 6.18% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% |
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares | 1.88% | 2.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TSXU and SPXS 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.
On fees, TSXU is cheaper at 1.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TSXU is cheaper with a 1.05% expense ratio, compared with 1.08% for SPXS.
SPXS has the higher dividend yield at 4.52%, compared with 1.88% for TSXU.
TSXU is categorized as Leveraged Equities, while SPXS is Inverse Equities. TSXU tracks Solactive Semiconductor Top 5 Index (2x), while SPXS tracks S&P 500 Index (-300%). Their fees differ too: 1.05% for TSXU and 1.08% for SPXS.
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