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 -28.91% vs -37.99% 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 -35.10% return, which is significantly lower than SPXS's -22.52% return.
URAA
- 1D
- -1.48%
- 1M
- -32.62%
- 6M
- -58.05%
- YTD
- -35.10%
- 1Y
- -28.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPXS
- 1D
- 3.13%
- 1M
- -0.87%
- 6M
- -19.69%
- YTD
- -22.52%
- 1Y
- -37.99%
- 3Y*
- -38.44%
- 5Y*
- -33.21%
- 10Y*
- -41.08%
URAA vs. SPXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
URAA Direxion Daily Uranium Industry Bull 2X Shares | -35.10% | 88.33% | -25.73% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | -22.52% | -41.53% | -17.82% |
Correlation
The correlation between URAA and SPXS is -0.57, 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 | -0.57 |
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 -0.57 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 | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.83 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | -0.87 | +0.44 |
| Martin ratioReturn relative to average drawdown | -0.86 | -1.49 | +0.63 |
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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 | -67.32% | -43.64% | -23.68% |
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 | -67.32% | -100.00% | +32.68% |
Average DrawdownAverage peak-to-trough decline | -28.97% | -96.31% | +67.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.55% | 25.51% | +8.04% |
Volatility
URAA vs. SPXS - Volatility Comparison
Direxion Daily Uranium Industry Bull 2X Shares (URAA) has a higher volatility of 19.10% compared to Direxion Daily S&P 500 Bear 3X Shares (SPXS) at 11.01%. 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 | 19.10% | 11.01% | +8.09% |
Volatility (6M)Calculated over the trailing 6-month period | 73.04% | 30.20% | +42.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 96.44% | 37.79% | +58.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.13% | 50.74% | +38.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.13% | 53.51% | +35.62% |
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 15.52%, more than SPXS's 4.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SPXS Direxion Daily S&P 500 Bear 3X Shares | 4.38% | 4.93% | 6.18% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% |
URAA Direxion Daily Uranium Industry Bull 2X Shares | 15.52% | 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 -0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
URAA has higher volatility (19.10%) compared to SPXS (11.01%). In terms of maximum drawdown, URAA dropped -67.45% vs SPXS's -100.00%.
On 1-year performance, URAA leads with -28.91% vs -37.99% for SPXS. On fees, SPXS is cheaper at 1.08% per year. On volatility, SPXS has been the lower-risk option at 11.01%. 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 -28.91% return vs -37.99%. 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 15.52%, compared with 4.38% 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 (-0.30 vs -1.01), 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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