URAA vs. SPXS
URAA (Direxion Daily Uranium Industry Bull 2X Shares) and SPXS (Direxion Daily S&P 500 Bear 3X Shares) are both exchange-traded funds - URAA is a Uranium fund tracking the Solactive United States Uranium and Nuclear Energy ETF Select Index (200%), while SPXS is a Inverse Equities fund tracking the S&P 500 Index (-300%). Both are passively managed. Over the past year, URAA returned 3.39% vs -41.52% for SPXS. At a correlation of -0.53, they often move in opposite directions. URAA charges 1.28%/yr vs 1.08%/yr for SPXS.
Performance
URAA vs. SPXS - Performance Comparison
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Returns By Period
In the year-to-date period, URAA achieves a -16.20% return, which is significantly higher than SPXS's -19.79% return.
URAA
- 1D
- -3.76%
- 1M
- -26.89%
- YTD
- -16.20%
- 6M
- -23.09%
- 1Y
- 3.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXS
- 1D
- 0.04%
- 1M
- 6.38%
- YTD
- -19.79%
- 6M
- -16.59%
- 1Y
- -41.52%
- 3Y*
- -40.72%
- 5Y*
- -33.23%
- 10Y*
- -42.33%
URAA vs. SPXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
URAA Direxion Daily Uranium Industry Bull 2X Shares | -16.20% | 88.33% | -25.73% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | -19.79% | -41.53% | -17.82% |
Correlation
The correlation between URAA and SPXS is -0.55, 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 (1Y) Calculated over the trailing 1-year period | -0.55 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2024 | -0.53 |
The correlation between URAA and SPXS has been stable across timeframes, ranging from -0.55 to -0.53 - a consistent structural relationship.
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Return for Risk
URAA vs. SPXS — Risk / Return Rank
URAA
SPXS
URAA vs. SPXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Uranium Industry Bull 2X Shares (URAA) 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.
| URAA | SPXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.15 | ||
| Sortino ratioReturn per unit of downside risk | +2.51 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.81 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.06 | -0.91 | +0.97 |
| Martin ratioReturn relative to average drawdown | 0.11 | -1.60 | +1.72 |
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Drawdowns
URAA vs. SPXS - Drawdown Comparison
The maximum URAA drawdown since its inception was -67.45%, smaller than the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for URAA and SPXS.
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Drawdown Indicators
| URAA | SPXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.45% | -100.00% | +32.55% |
Max Drawdown (1Y)Largest decline over 1 year | -59.83% | -45.74% | -14.09% |
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 | — | -99.61% | — |
Current DrawdownCurrent decline from peak | -57.80% | -100.00% | +42.20% |
Average DrawdownAverage peak-to-trough decline | -28.00% | -96.29% | +68.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.03% | 27.24% | +2.79% |
Volatility
URAA vs. SPXS - Volatility Comparison
Direxion Daily Uranium Industry Bull 2X Shares (URAA) has a higher volatility of 30.96% compared to Direxion Daily S&P 500 Bear 3X Shares (SPXS) at 14.10%. This indicates that URAA's price experiences larger fluctuations and is considered to be riskier than SPXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| URAA | SPXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.96% | 14.10% | +16.86% |
Volatility (6M)Calculated over the trailing 6-month period | 74.07% | 29.36% | +44.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 95.73% | 37.23% | +58.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.51% | 50.68% | +38.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.51% | 53.57% | +35.94% |
URAA vs. SPXS - Expense Ratio Comparison
URAA has a 1.28% expense ratio, which is higher than SPXS's 1.08% expense ratio.
Dividends
URAA vs. SPXS - Dividend Comparison
URAA's dividend yield for the trailing twelve months is around 12.02%, more than SPXS's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SPXS Direxion Daily S&P 500 Bear 3X Shares | 4.23% | 4.93% | 6.18% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% |
URAA Direxion Daily Uranium Industry Bull 2X Shares | 12.02% | 9.14% | 4.36% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
URAA and SPXS have a correlation of -0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
URAA has higher volatility (30.96%) compared to SPXS (14.10%). In terms of maximum drawdown, URAA dropped -67.45% vs SPXS's -100.00%.
On 1-year performance, URAA leads with 3.39% vs -41.52% for SPXS. On fees, SPXS is cheaper at 1.08% per year. On volatility, SPXS has been the lower-risk option at 14.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, URAA has performed better with a 3.39% return vs -41.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPXS is cheaper with a 1.08% expense ratio, compared with 1.28% for URAA.
URAA has the higher dividend yield at 12.02%, compared with 4.23% for SPXS.
URAA is categorized as Uranium, while SPXS is Inverse Equities. URAA tracks Solactive United States Uranium and Nuclear Energy ETF Select Index (200%), while SPXS tracks S&P 500 Index (-300%). Their fees differ too: 1.28% for URAA and 1.08% for SPXS.
URAA currently has the higher Sharpe Ratio (0.04 vs -1.12), 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.
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