TWST vs. SPXL

Last updated Jun 23, 2026

TWST (Twist Bioscience Corporation) is a stock, while SPXL (Direxion Daily S&P 500 Bull 3X ETF) is Leveraged Equities fund tracking the S&P 500. Over the past 5 years, TWST returned -6.65%/yr vs 22.24%/yr for SPXL. At a 0.48 correlation, their price movements are largely independent.

Performance

TWST vs. SPXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Twist Bioscience Corporation (TWST) and Direxion Daily S&P 500 Bull 3X ETF (SPXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TWST achieves a 168.51% return, which is significantly higher than SPXL's 22.70% return.

TWST

• 1D: -2.73%
• 1M: 40.61%
• YTD: 168.51%
• 6M: 142.93%
• 1Y: 145.87%
• 3Y*: 70.18%
• 5Y*: -6.65%
• 10Y*: —

SPXL

• 1D: -0.94%
• 1M: -1.11%
• YTD: 22.70%
• 6M: 20.82%
• 1Y: 75.56%
• 3Y*: 48.64%
• 5Y*: 22.24%
• 10Y*: 30.87%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TWST vs. SPXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TWST Twist Bioscience Corporation	168.51%	-31.74%	26.07%	54.81%	-69.23%	-45.23%	572.81%	-9.05%	77.62%
SPXL Direxion Daily S&P 500 Bull 3X ETF	22.70%	31.94%	63.61%	69.49%	-56.55%	98.75%	9.64%	102.80%	-20.62%

Correlation

The correlation between TWST and SPXL is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Oct 31, 2018	0.48

The correlation between TWST and SPXL has been stable across timeframes, ranging from 0.48 to 0.55 - a consistent structural relationship.

Return for Risk

TWST vs. SPXL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TWST

TWST Risk / Return Rank: 86
TWST Sharpe Ratio Rank: 90
TWST Sortino Ratio Rank: 86
TWST Omega Ratio Rank: 82
TWST Calmar Ratio Rank: 88
TWST Martin Ratio Rank: 84

SPXL

SPXL Risk / Return Rank: 59
SPXL Sharpe Ratio Rank: 64
SPXL Sortino Ratio Rank: 53
SPXL Omega Ratio Rank: 55
SPXL Calmar Ratio Rank: 59
SPXL Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TWST vs. SPXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Twist Bioscience Corporation (TWST) 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.

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.

	TWST	SPXL	Difference
Sharpe ratio: Return per unit of total volatility	2.20	2.05	+0.15
Sortino ratio: Return per unit of downside risk	2.74	2.49	+0.25
Omega ratio: Gain probability vs. loss probability	1.31	1.33	-0.02
Calmar ratio: Return relative to maximum drawdown	3.84	2.84	+1.00
Martin ratio: Return relative to average drawdown	8.14	11.62	-3.48

TWST vs. SPXL - Sharpe Ratio Comparison

The current TWST Sharpe Ratio is 2.20, which is comparable to the SPXL Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of TWST and SPXL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TWST vs. SPXL - Drawdown Comparison

The maximum TWST drawdown since its inception was -94.48%, which is greater than SPXL's maximum drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for TWST and SPXL.

Drawdown Indicators

	TWST	SPXL	Difference
Max Drawdown Largest peak-to-trough decline	-94.48%	-76.86%	-17.62%
Max Drawdown (1Y) Largest decline over 1 year	-38.24%	-26.77%	-11.47%
Max Drawdown (3Y) Largest decline over 3 years	-58.97%	-48.95%	-10.02%
Max Drawdown (5Y) Largest decline over 5 years	-91.54%	-63.80%	-27.74%
Max Drawdown (10Y) Largest decline over 10 years	—	-76.86%	—
Current Drawdown Current decline from peak	-59.05%	-6.24%	-52.81%
Average Drawdown Average peak-to-trough decline	-58.15%	-16.10%	-42.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.99%	6.52%	+11.47%

Volatility

TWST vs. SPXL - Volatility Comparison

Twist Bioscience Corporation (TWST) has a higher volatility of 19.89% compared to Direxion Daily S&P 500 Bull 3X ETF (SPXL) at 13.99%. This indicates that TWST's price experiences larger fluctuations and is considered to be riskier than SPXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TWST	SPXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.89%	13.99%	+5.90%
Volatility (6M) Calculated over the trailing 6-month period	48.60%	29.23%	+19.37%
Volatility (1Y) Calculated over the trailing 1-year period	66.98%	37.20%	+29.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.93%	50.50%	+25.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.40%	53.56%	+24.84%

Dividends

TWST vs. SPXL - Dividend Comparison

TWST has not paid dividends to shareholders, while SPXL's dividend yield for the trailing twelve months is around 0.55%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPXL Direxion Daily S&P 500 Bull 3X ETF	0.55%	0.69%	0.74%	0.98%	0.32%	0.11%	0.22%	0.84%	1.02%	3.88%
TWST Twist Bioscience Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TWST and SPXL in my portfolio?

TWST and SPXL have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TWST or SPXL?

TWST has higher volatility (19.89%) compared to SPXL (13.99%). In terms of maximum drawdown, TWST dropped -94.48% vs SPXL's -76.86%.

Which has better risk-adjusted returns?

TWST currently has the higher Sharpe Ratio (2.20 vs 2.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.