WEBS vs. SPUU
WEBS (Daily Dow Jones Internet Bear 3X Shares) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds from Direxion - WEBS tracks the Dow Jones Internet Composite Index (300%) while SPUU tracks the S&P 500 Index (200% Daily). Both are passively managed. Over the past 5 years, WEBS returned -33.85%/yr vs 18.77%/yr for SPUU. At a correlation of -0.80, they often move in opposite directions. WEBS charges 1.07%/yr vs 0.60%/yr for SPUU.
Performance
WEBS vs. SPUU - Performance Comparison
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Returns By Period
In the year-to-date period, WEBS achieves a -11.73% return, which is significantly lower than SPUU's 18.22% return.
WEBS
- 1D
- 4.75%
- 1M
- -3.57%
- 6M
- -16.73%
- YTD
- -11.73%
- 1Y
- -16.44%
- 3Y*
- -44.25%
- 5Y*
- -33.85%
- 10Y*
- —
SPUU
- 1D
- -1.08%
- 1M
- 0.01%
- 6M
- 14.79%
- YTD
- 18.22%
- 1Y
- 38.38%
- 3Y*
- 32.90%
- 5Y*
- 18.77%
- 10Y*
- 23.84%
WEBS vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | -11.73% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -10.90% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 18.22% | 26.55% | 44.25% | 47.28% | -38.72% | 61.27% | 21.85% | 10.46% |
Correlation
The correlation between WEBS and SPUU 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 7, 2019 | -0.80 |
The correlation between WEBS and SPUU 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
WEBS vs. SPUU — Risk / Return Rank
WEBS
SPUU
WEBS vs. SPUU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Daily Dow Jones Internet Bear 3X Shares (WEBS) 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.
| WEBS | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.80 | ||
| Sortino ratioReturn per unit of downside risk | -2.06 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.27 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.31 | 2.12 | -2.43 |
| Martin ratioReturn relative to average drawdown | -0.68 | 8.78 | -9.46 |
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Drawdowns
WEBS vs. SPUU - Drawdown Comparison
The maximum WEBS drawdown since its inception was -99.63%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for WEBS and SPUU.
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Drawdown Indicators
| WEBS | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.63% | -59.35% | -40.28% |
Max Drawdown (1Y)Largest decline over 1 year | -53.54% | -18.19% | -35.35% |
Max Drawdown (3Y)Largest decline over 3 years | -90.33% | -35.18% | -55.15% |
Max Drawdown (5Y)Largest decline over 5 years | -97.09% | -46.59% | -50.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -59.35% | — |
Current DrawdownCurrent decline from peak | -99.57% | -2.59% | -96.98% |
Average DrawdownAverage peak-to-trough decline | -91.18% | -9.45% | -81.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.10% | 4.38% | +19.72% |
Volatility
WEBS vs. SPUU - Volatility Comparison
Daily Dow Jones Internet Bear 3X Shares (WEBS) has a higher volatility of 18.31% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 6.85%. This indicates that WEBS'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.
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Volatility by Period
| WEBS | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.31% | 6.85% | +11.46% |
Volatility (6M)Calculated over the trailing 6-month period | 47.79% | 20.13% | +27.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.11% | 25.27% | +34.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.26% | 33.69% | +48.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.49% | 35.75% | +53.74% |
WEBS vs. SPUU - Expense Ratio Comparison
WEBS has a 1.07% expense ratio, which is higher than SPUU's 0.60% expense ratio.
Dividends
WEBS vs. SPUU - Dividend Comparison
WEBS's dividend yield for the trailing twelve months is around 3.10%, more than SPUU's 1.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPUU Direxion Daily S&P 500 Bull 2X ETF | 1.33% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
WEBS Daily Dow Jones Internet Bear 3X Shares | 3.10% | 3.77% | 8.02% | 8.51% | 0.20% | 0.00% | 1.11% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WEBS and SPUU 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.
WEBS has higher volatility (18.31%) compared to SPUU (6.85%). In terms of maximum drawdown, WEBS dropped -99.63% vs SPUU's -59.35%.
On 5-year performance, SPUU leads with 18.77% vs -33.85% for WEBS. On fees, SPUU is cheaper at 0.60% per year. On volatility, SPUU has been the lower-risk option at 6.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPUU has performed better with a 18.77% return vs -33.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUU is cheaper with a 0.60% expense ratio, compared with 1.07% for WEBS.
WEBS has the higher dividend yield at 3.10%, compared with 1.33% for SPUU.
WEBS tracks Dow Jones Internet Composite Index (300%), while SPUU tracks S&P 500 Index (200% Daily). Their fees differ too: 1.07% for WEBS and 0.60% for SPUU.
SPUU currently has the higher Sharpe Ratio (1.53 vs -0.27), 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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