VRTL vs. SPUU

Last updated Jun 24, 2026

VRTL (GraniteShares 2x Long VRT Daily ETF) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds. VRTL is actively managed, while SPUU is passively managed. Over the past year, VRTL returned 343.57% vs 43.00% for SPUU. A 0.60 correlation means they provide meaningful diversification when combined. VRTL charges 1.50%/yr vs 0.60%/yr for SPUU.

Performance

VRTL vs. SPUU - Performance Comparison

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

Returns By Period

In the year-to-date period, VRTL achieves a 187.83% return, which is significantly higher than SPUU's 13.33% return.

VRTL

• 1D: -22.65%
• 1M: -11.35%
• YTD: 187.83%
• 6M: 172.02%
• 1Y: 343.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPUU

• 1D: -2.91%
• 1M: -3.20%
• YTD: 13.33%
• 6M: 10.95%
• 1Y: 43.00%
• 3Y*: 34.33%
• 5Y*: 18.44%
• 10Y*: 24.81%

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

VRTL vs. SPUU - Yearly Performance Comparison

	2026 (YTD)	2025
VRTL GraniteShares 2x Long VRT Daily ETF	187.83%	110.50%
SPUU Direxion Daily S&P 500 Bull 2X ETF	13.33%	33.68%

Correlation

The correlation between VRTL and SPUU is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (All Time) Calculated using the full available price history since Mar 25, 2025	0.60

The correlation between VRTL and SPUU has been stable across timeframes, ranging from 0.57 to 0.60 - a consistent structural relationship.

VRTL vs. SPUU - Sectors Allocation Comparison

Sectors	VRTL	SPUU
Industrials	66.7%	7.8%
Basic Materials	-	1.7%
Communication Services	-	10.6%
Consumer Cyclical	-	9.9%
Consumer Defensive	-	4.5%
Energy	-	3.1%
Financial Services	-	11.1%
Healthcare	-	8.3%
Real Estate	-	1.8%
Technology	-	39.0%
Utilities	-	2.1%

Return for Risk

VRTL vs. SPUU — Risk / Return Rank

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

VRTL

VRTL Risk / Return Rank: 83
VRTL Sharpe Ratio Rank: 91
VRTL Sortino Ratio Rank: 74
VRTL Omega Ratio Rank: 70
VRTL Calmar Ratio Rank: 95
VRTL Martin Ratio Rank: 87

SPUU

SPUU Risk / Return Rank: 51
SPUU Sharpe Ratio Rank: 52
SPUU Sortino Ratio Rank: 47
SPUU Omega Ratio Rank: 48
SPUU Calmar Ratio Rank: 50
SPUU Martin Ratio Rank: 59

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.

VRTL vs. SPUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long VRT Daily ETF (VRTL) 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.

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.

	VRTL	SPUU	Difference
Sharpe ratio: Return per unit of total volatility	2.89	1.72	+1.17
Sortino ratio: Return per unit of downside risk	3.02	2.25	+0.77
Omega ratio: Gain probability vs. loss probability	1.38	1.30	+0.08
Calmar ratio: Return relative to maximum drawdown	7.30	2.38	+4.92
Martin ratio: Return relative to average drawdown	17.10	10.11	+7.00

VRTL vs. SPUU - Sharpe Ratio Comparison

The current VRTL Sharpe Ratio is 2.89, which is higher than the SPUU Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of VRTL 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.

Drawdowns

VRTL vs. SPUU - Drawdown Comparison

The maximum VRTL drawdown since its inception was -60.58%, roughly equal to the maximum SPUU drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for VRTL and SPUU.

Drawdown Indicators

	VRTL	SPUU	Difference
Max Drawdown Largest peak-to-trough decline	-60.58%	-59.35%	-1.23%
Max Drawdown (1Y) Largest decline over 1 year	-47.45%	-18.19%	-29.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-35.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.59%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-59.35%	—
Current Drawdown Current decline from peak	-33.92%	-6.62%	-27.30%
Average Drawdown Average peak-to-trough decline	-15.93%	-9.48%	-6.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.20%	4.27%	+15.93%

Volatility

VRTL vs. SPUU - Volatility Comparison

GraniteShares 2x Long VRT Daily ETF (VRTL) has a higher volatility of 43.78% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 9.70%. This indicates that VRTL's price experiences larger fluctuations and is considered to be riskier than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VRTL	SPUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	43.78%	9.70%	+34.08%
Volatility (6M) Calculated over the trailing 6-month period	92.17%	19.93%	+72.24%
Volatility (1Y) Calculated over the trailing 1-year period	119.83%	25.22%	+94.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	126.87%	33.67%	+93.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	126.87%	35.81%	+91.06%

VRTL vs. SPUU - Expense Ratio Comparison

VRTL has a 1.50% expense ratio, which is higher than SPUU's 0.60% expense ratio.

Dividends

VRTL vs. SPUU - Dividend Comparison

VRTL has not paid dividends to shareholders, while SPUU's dividend yield for the trailing twelve months is around 1.42%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPUU Direxion Daily S&P 500 Bull 2X ETF	1.42%	1.63%	0.55%	0.83%	0.88%	3.04%	8.03%	1.80%	5.50%	6.96%	8.08%	4.42%
VRTL GraniteShares 2x Long VRT Daily ETF	0.00%	0.00%	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 VRTL and SPUU in my portfolio?

VRTL and SPUU 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.

Which is riskier, VRTL or SPUU?

VRTL has higher volatility (43.78%) compared to SPUU (9.70%). In terms of maximum drawdown, VRTL dropped -60.58% vs SPUU's -59.35%.

Which ETF is better, VRTL or SPUU?

On 1-year performance, VRTL leads with 343.57% vs 43.00% for SPUU. On fees, SPUU is cheaper at 0.60% per year. On volatility, SPUU has been the lower-risk option at 9.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VRTL or SPUU?

Over the 1-year period, VRTL has performed better with a 343.57% return vs 43.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VRTL or SPUU?

SPUU is cheaper with a 0.60% expense ratio, compared with 1.50% for VRTL.

Which ETF pays a higher dividend yield, VRTL or SPUU?

SPUU has the higher dividend yield at 1.42%, compared with 0.00% for VRTL.

What is the main difference between VRTL and SPUU?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for VRTL and 0.60% for SPUU.

Which has better risk-adjusted returns?

VRTL currently has the higher Sharpe Ratio (2.89 vs 1.72), 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.