WEBL vs. SPXS
WEBL (Daily Dow Jones Internet Bull 3X Shares) and SPXS (Direxion Daily S&P 500 Bear 3X Shares) are both exchange-traded funds - WEBL is a Leveraged Equities fund tracking the Dow Jones Internet Composite 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, WEBL returned -16.60%/yr vs -34.91%/yr for SPXS. At a correlation of -0.79, they often move in opposite directions. WEBL charges 1.17%/yr vs 1.08%/yr for SPXS.
Performance
WEBL vs. SPXS - Performance Comparison
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Returns By Period
In the year-to-date period, WEBL achieves a 2.87% return, which is significantly higher than SPXS's -26.34% return.
WEBL
- 1D
- 0.57%
- 1M
- 13.84%
- YTD
- 2.87%
- 6M
- -0.58%
- 1Y
- 7.07%
- 3Y*
- 36.94%
- 5Y*
- -16.60%
- 10Y*
- —
SPXS
- 1D
- -1.15%
- 1M
- -12.09%
- YTD
- -26.34%
- 6M
- -25.57%
- 1Y
- -49.42%
- 3Y*
- -43.02%
- 5Y*
- -34.91%
- 10Y*
- -41.99%
WEBL vs. SPXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBL Daily Dow Jones Internet Bull 3X Shares | 2.87% | 2.37% | 76.78% | 165.50% | -91.04% | 2.73% | 132.56% | 13.47% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | -26.34% | -41.53% | -42.84% | -45.97% | 36.14% | -58.11% | -70.47% | -13.10% |
Correlation
The correlation between WEBL and SPXS is -0.71, 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 | -0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.82 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | -0.79 |
The correlation between WEBL and SPXS shifts across timeframes, from -0.82 (5 years) to -0.71 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
WEBL vs. SPXS — Risk / Return Rank
WEBL
SPXS
WEBL vs. SPXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Daily Dow Jones Internet Bull 3X Shares (WEBL) 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.
| WEBL | SPXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.52 | ||
| Sortino ratioReturn per unit of downside risk | +2.91 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 0.75 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.13 | -0.98 | +1.10 |
| Martin ratioReturn relative to average drawdown | 0.27 | -1.64 | +1.91 |
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
| WEBL | SPXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.13 | -1.40 | +1.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.21 | -0.70 | +0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.03 | -0.84 | +0.87 |
Drawdowns
WEBL vs. SPXS - Drawdown Comparison
The maximum WEBL drawdown since its inception was -94.44%, smaller than the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for WEBL and SPXS.
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Drawdown Indicators
| WEBL | SPXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.44% | -100.00% | +5.56% |
Max Drawdown (1Y)Largest decline over 1 year | -56.57% | -50.77% | -5.80% |
Max Drawdown (3Y)Largest decline over 3 years | -60.82% | -84.13% | +23.31% |
Max Drawdown (5Y)Largest decline over 5 years | -94.44% | -90.11% | -4.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.63% | — |
Current DrawdownCurrent decline from peak | -69.72% | -100.00% | +30.28% |
Average DrawdownAverage peak-to-trough decline | -58.87% | -96.30% | +37.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.01% | 30.20% | -4.19% |
Volatility
WEBL vs. SPXS - Volatility Comparison
Daily Dow Jones Internet Bull 3X Shares (WEBL) has a higher volatility of 15.48% compared to Direxion Daily S&P 500 Bear 3X Shares (SPXS) at 8.36%. This indicates that WEBL'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
| WEBL | SPXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.48% | 8.36% | +7.12% |
Volatility (6M)Calculated over the trailing 6-month period | 43.37% | 26.83% | +16.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.62% | 35.52% | +21.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.65% | 50.38% | +30.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.85% | 53.53% | +29.32% |
WEBL vs. SPXS - Expense Ratio Comparison
WEBL has a 1.17% expense ratio, which is higher than SPXS's 1.08% expense ratio.
Dividends
WEBL vs. SPXS - Dividend Comparison
WEBL's dividend yield for the trailing twelve months is around 0.19%, less than SPXS's 4.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SPXS Direxion Daily S&P 500 Bear 3X Shares | 4.97% | 4.93% | 6.18% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% |
WEBL Daily Dow Jones Internet Bull 3X Shares | 0.19% | 0.25% | 0.00% | 0.00% | 0.00% | 4.79% | 0.00% | 0.06% | 0.00% |
Frequently Asked Questions
WEBL and SPXS have a correlation of -0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WEBL has higher volatility (15.48%) compared to SPXS (8.36%). In terms of maximum drawdown, WEBL dropped -94.44% vs SPXS's -100.00%.
On 5-year performance, WEBL leads with -16.60% vs -34.91% for SPXS. On fees, SPXS is cheaper at 1.08% per year. On volatility, SPXS has been the lower-risk option at 8.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, WEBL has performed better with a -16.60% return vs -34.91%. 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 1.17% for WEBL.
SPXS has the higher dividend yield at 4.97%, compared with 0.19% for WEBL.
WEBL is categorized as Leveraged Equities, while SPXS is Inverse Equities. WEBL tracks Dow Jones Internet Composite Index (300%), while SPXS tracks S&P 500 Index (-300%). Their fees differ too: 1.17% for WEBL and 1.08% for SPXS.
WEBL currently has the higher Sharpe Ratio (0.13 vs -1.40), 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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