WANT vs. SPXS
WANT (Direxion Daily Consumer Discretionary Bull 3X Shares) and SPXS (Direxion Daily S&P 500 Bear 3X Shares) are both exchange-traded funds - WANT is a Leveraged Equities fund tracking the S&P Consumer Discretionary Select Sector Index (-300%), while SPXS is a Inverse Equities fund tracking the S&P 500 Index (-300%). Both are passively managed. Over the past 5 years, WANT returned -5.36%/yr vs -34.76%/yr for SPXS. At a correlation of -0.85, they often move in opposite directions. WANT charges 0.98%/yr vs 1.08%/yr for SPXS.
Performance
WANT vs. SPXS - Performance Comparison
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Returns By Period
In the year-to-date period, WANT achieves a -14.08% return, which is significantly higher than SPXS's -25.49% return.
WANT
- 1D
- -2.18%
- 1M
- -3.95%
- YTD
- -14.08%
- 6M
- -14.66%
- 1Y
- 6.37%
- 3Y*
- 19.16%
- 5Y*
- -5.36%
- 10Y*
- —
SPXS
- 1D
- 2.19%
- 1M
- -13.11%
- YTD
- -25.49%
- 6M
- -24.86%
- 1Y
- -48.73%
- 3Y*
- -42.68%
- 5Y*
- -34.76%
- 10Y*
- -42.01%
WANT vs. SPXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
WANT Direxion Daily Consumer Discretionary Bull 3X Shares | -14.08% | -6.94% | 60.52% | 114.43% | -83.03% | 84.81% | 45.26% | 90.07% | -24.91% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | -25.49% | -41.53% | -42.84% | -45.97% | 36.14% | -58.11% | -70.47% | -56.40% | 24.80% |
Correlation
The correlation between WANT and SPXS is -0.76, 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 | -0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.84 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2018 | -0.85 |
The correlation between WANT and SPXS has been stable across timeframes, ranging from -0.85 to -0.76 - a consistent structural relationship.
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Return for Risk
WANT vs. SPXS — Risk / Return Rank
WANT
SPXS
WANT vs. SPXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) 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.
| WANT | SPXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.50 | ||
| Sortino ratioReturn per unit of downside risk | +2.86 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.75 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | -0.96 | +1.12 |
| Martin ratioReturn relative to average drawdown | 0.42 | -1.62 | +2.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WANT | SPXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.12 | -1.38 | +1.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | -0.69 | +0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | -0.83 | +0.95 |
Drawdowns
WANT vs. SPXS - Drawdown Comparison
The maximum WANT drawdown since its inception was -85.89%, smaller than the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for WANT and SPXS.
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Drawdown Indicators
| WANT | SPXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.89% | -100.00% | +14.11% |
Max Drawdown (1Y)Largest decline over 1 year | -41.27% | -50.77% | +9.50% |
Max Drawdown (3Y)Largest decline over 3 years | -63.53% | -84.13% | +20.60% |
Max Drawdown (5Y)Largest decline over 5 years | -85.89% | -90.11% | +4.22% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.63% | — |
Current DrawdownCurrent decline from peak | -58.58% | -100.00% | +41.42% |
Average DrawdownAverage peak-to-trough decline | -43.07% | -96.30% | +53.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.11% | 30.04% | -14.93% |
Volatility
WANT vs. SPXS - Volatility Comparison
Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) has a higher volatility of 15.45% compared to Direxion Daily S&P 500 Bear 3X Shares (SPXS) at 8.51%. This indicates that WANT'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
| WANT | SPXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.45% | 8.51% | +6.94% |
Volatility (6M)Calculated over the trailing 6-month period | 38.86% | 26.82% | +12.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.92% | 35.54% | +18.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.65% | 50.39% | +20.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.50% | 53.54% | +17.96% |
WANT vs. SPXS - Expense Ratio Comparison
WANT has a 0.98% expense ratio, which is lower than SPXS's 1.08% expense ratio.
Dividends
WANT vs. SPXS - Dividend Comparison
WANT's dividend yield for the trailing twelve months is around 0.62%, less than SPXS's 4.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SPXS Direxion Daily S&P 500 Bear 3X Shares | 4.91% | 4.93% | 6.18% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% |
WANT Direxion Daily Consumer Discretionary Bull 3X Shares | 0.62% | 0.65% | 0.61% | 0.46% | 0.00% | 0.00% | 0.07% | 0.64% | 0.00% |
Frequently Asked Questions
WANT and SPXS have a correlation of -0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WANT has higher volatility (15.45%) compared to SPXS (8.51%). In terms of maximum drawdown, WANT dropped -85.89% vs SPXS's -100.00%.
On 5-year performance, WANT leads with -5.36% vs -34.76% for SPXS. On fees, WANT is cheaper at 0.98% per year. On volatility, SPXS has been the lower-risk option at 8.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, WANT has performed better with a -5.36% return vs -34.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WANT is cheaper with a 0.98% expense ratio, compared with 1.08% for SPXS.
SPXS has the higher dividend yield at 4.91%, compared with 0.62% for WANT.
WANT is categorized as Leveraged Equities, while SPXS is Inverse Equities. WANT tracks S&P Consumer Discretionary Select Sector Index (-300%), while SPXS tracks S&P 500 Index (-300%). Their fees differ too: 0.98% for WANT and 1.08% for SPXS.
WANT currently has the higher Sharpe Ratio (0.12 vs -1.38), 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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