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VGLT vs. SPUU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VGLT vs. SPUU

Last updated Jun 9, 2026

VGLT (Vanguard Long-Term Treasury ETF) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both exchange-traded funds - VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index, while SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily). Both are passively managed. Over the past 10 years, VGLT returned -1.28%/yr vs 24.31%/yr for SPUU. At a correlation of -0.15, they often move in opposite directions. VGLT charges 0.03%/yr vs 0.60%/yr for SPUU.

Performance

VGLT vs. SPUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Treasury ETF (VGLT) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VGLT achieves a -1.16% return, which is significantly lower than SPUU's 14.92% return. Over the past 10 years, VGLT has underperformed SPUU with an annualized return of -1.28%, while SPUU has yielded a comparatively higher 24.31% annualized return.

VGLT

1D
-0.40%
1M
-1.25%
YTD
-1.16%
6M
-1.18%
1Y
4.15%
3Y*
-0.94%
5Y*
-5.66%
10Y*
-1.28%

SPUU

1D
0.60%
1M
0.07%
YTD
14.92%
6M
14.42%
1Y
45.91%
3Y*
35.91%
5Y*
19.28%
10Y*
24.31%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VGLT vs. SPUU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VGLT
Vanguard Long-Term Treasury ETF		-1.16%5.35%-6.28%3.27%-29.34%-4.98%17.57%14.30%-1.54%8.64%
SPUU
Direxion Daily S&P 500 Bull 2X ETF		14.92%26.55%44.25%47.28%-38.72%61.27%21.85%66.84%-14.59%44.33%

Correlation

The correlation between VGLT and SPUU is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.23

Correlation (3Y)
Calculated over the trailing 3-year period

0.18

Correlation (5Y)
Calculated over the trailing 5-year period

0.07

Correlation (10Y)
Calculated over the trailing 10-year period

-0.09

Correlation (All Time)
Calculated using the full available price history since Jun 9, 2014

-0.15

The correlation between VGLT and SPUU shifts across timeframes, from -0.15 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Vanguard Long-Term Treasury ETF

Direxion Daily S&P 500 Bull 2X ETF

Often compared with VGLT:
VGLT vs. TLTVGLT vs. VGITVGLT vs. EDVVGLT vs. BNDVGLT vs. VCLTVGLT vs. BLVVGLT vs. SPTL
Often compared with SPUU:
SPUU vs. SSOSPUU vs. SPYSPUU vs. SPXLSPUU vs. VOOSPUU vs. QLDSPUU vs. DDMSPUU vs. QQQ

Return for Risk

VGLT vs. SPUU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VGLT
VGLT Risk / Return Rank: 1717
Overall Rank
VGLT Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
VGLT Sortino Ratio Rank: 1717
Sortino Ratio Rank
VGLT Omega Ratio Rank: 1616
Omega Ratio Rank
VGLT Calmar Ratio Rank: 1717
Calmar Ratio Rank
VGLT Martin Ratio Rank: 1717
Martin Ratio Rank
SPUU
SPUU Risk / Return Rank: 6060
Overall Rank
SPUU Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
SPUU Sortino Ratio Rank: 5656
Sortino Ratio Rank
SPUU Omega Ratio Rank: 5858
Omega Ratio Rank
SPUU Calmar Ratio Rank: 5757
Calmar Ratio Rank
SPUU Martin Ratio Rank: 6666
Martin Ratio Rank
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.

VGLT vs. SPUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Treasury ETF (VGLT) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). 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.

VGLTSPUUDifference
Sharpe ratioReturn per unit of total volatility
0.48
1.89

-1.41

Sortino ratioReturn per unit of downside risk
0.75
2.43

-1.68

Omega ratioGain probability vs. loss probability

1.08

1.32

-0.24

Calmar ratioReturn relative to maximum drawdown

0.60

2.54

-1.94

Martin ratioReturn relative to average drawdown

1.53

11.10

-9.58

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGLT vs. SPUU - Sharpe Ratio Comparison

The current VGLT Sharpe Ratio is 0.48, which is lower than the SPUU Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of VGLT and SPUU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VGLTSPUUDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.48

1.89

-1.41

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.39

0.58

-0.97

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.09

0.68

-0.77

Sharpe Ratio (All Time)

Calculated using the full available price history

0.18

0.62

-0.44

Drawdowns

VGLT vs. SPUU - Drawdown Comparison

The maximum VGLT drawdown since its inception was -46.18%, smaller than the maximum SPUU drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for VGLT and SPUU.

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Drawdown Indicators

VGLTSPUUDifference

Max Drawdown

Largest peak-to-trough decline

-46.18%

-59.35%

+13.17%

Max Drawdown (1Y)

Largest decline over 1 year

-7.01%

-18.19%

+11.18%

Max Drawdown (3Y)

Largest decline over 3 years

-17.68%

-35.18%

+17.50%

Max Drawdown (5Y)

Largest decline over 5 years

-40.98%

-46.59%

+5.61%

Max Drawdown (10Y)

Largest decline over 10 years

-46.18%

-59.35%

+13.17%

Current Drawdown

Current decline from peak

-37.30%

-5.31%

-31.99%

Average Drawdown

Average peak-to-trough decline

-15.08%

-9.50%

-5.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.72%

4.15%

-1.43%

Volatility

VGLT vs. SPUU - Volatility Comparison

The current volatility for Vanguard Long-Term Treasury ETF (VGLT) is 2.50%, while Direxion Daily S&P 500 Bull 2X ETF (SPUU) has a volatility of 7.64%. This indicates that VGLT experiences smaller price fluctuations and is considered to be less risky than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VGLTSPUUDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.50%

7.64%

-5.14%

Volatility (6M)

Calculated over the trailing 6-month period

5.96%

18.95%

-12.99%

Volatility (1Y)

Calculated over the trailing 1-year period

8.71%

24.47%

-15.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.57%

33.54%

-18.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.82%

35.82%

-22.00%

VGLT vs. SPUU - Expense Ratio Comparison

VGLT has a 0.03% expense ratio, which is lower than SPUU's 0.60% expense ratio.

Dividends

VGLT vs. SPUU - Dividend Comparison

VGLT's dividend yield for the trailing twelve months is around 4.64%, more than SPUU's 1.40% yield.

PositionTTM20252024202320222021202020192018201720162015
SPUU
Direxion Daily S&P 500 Bull 2X ETF		1.40%1.63%0.55%0.83%0.88%3.04%8.03%1.80%5.50%6.96%8.08%4.42%
VGLT
Vanguard Long-Term Treasury ETF		4.64%4.44%4.33%3.33%2.84%1.82%2.15%2.46%2.71%2.55%2.69%3.21%

Frequently Asked Questions

VGLT and SPUU have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPUU has higher volatility (7.64%) compared to VGLT (2.50%). In terms of maximum drawdown, VGLT dropped -46.18% vs SPUU's -59.35%.

On 10-year performance, SPUU leads with 24.31% vs -1.28% for VGLT. On fees, VGLT is cheaper at 0.03% per year. On volatility, VGLT has been the lower-risk option at 2.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPUU has performed better with a 24.31% return vs -1.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VGLT is cheaper with a 0.03% expense ratio, compared with 0.60% for SPUU.

VGLT has the higher dividend yield at 4.64%, compared with 1.40% for SPUU.

VGLT is categorized as Government Bonds, while SPUU is Leveraged Equities. VGLT tracks Bloomberg U.S. Long Treasury Index, while SPUU tracks S&P 500 Index (200% Daily). They also come from different issuers: Vanguard and Direxion. Their fees differ too: 0.03% for VGLT and 0.60% for SPUU.

SPUU currently has the higher Sharpe Ratio (1.89 vs 0.48), 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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