XSW vs. TSXU

Last updated Jul 14, 2026

XSW (SPDR S&P Software & Services ETF) and TSXU (Direxion Daily Semiconductors Top 5 Bull 2X Shares) are both exchange-traded funds - XSW is a Technology Equities fund tracking the S&P Software & Services Select Industry Index, while TSXU is a Leveraged Equities fund tracking the Solactive Semiconductor Top 5 Index (2x). Both are passively managed. At a 0.26 correlation, their price movements are largely independent. XSW charges 0.35%/yr vs 1.05%/yr for TSXU.

Performance

XSW vs. TSXU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Software & Services ETF (XSW) and Direxion Daily Semiconductors Top 5 Bull 2X Shares (TSXU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSW achieves a -4.56% return, which is significantly lower than TSXU's 102.89% return.

XSW

• 1D: 0.88%
• 1M: 7.50%
• 6M: -6.34%
• YTD: -4.56%
• 1Y: -3.96%
• 3Y*: 8.75%
• 5Y*: 1.43%
• 10Y*: 13.25%

TSXU

• 1D: -7.43%
• 1M: -1.70%
• 6M: 83.88%
• YTD: 102.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XSW vs. TSXU - Yearly Performance Comparison

	2026 (YTD)	2025
XSW SPDR S&P Software & Services ETF	-4.56%	-5.37%
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	102.89%	37.96%

Correlation

The correlation between XSW and TSXU is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.26

Return for Risk

XSW vs. TSXU — Risk / Return Rank

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

XSW

XSW Risk / Return Rank: 8
XSW Sharpe Ratio Rank: 8
XSW Sortino Ratio Rank: 8
XSW Omega Ratio Rank: 8
XSW Calmar Ratio Rank: 8
XSW Martin Ratio Rank: 8

TSXU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

XSW vs. TSXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Software & Services ETF (XSW) and Direxion Daily Semiconductors Top 5 Bull 2X Shares (TSXU). 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.

	XSW	TSXU	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	—	—
Sortino ratio: Return per unit of downside risk	0.01	—	—
Omega ratio: Gain probability vs. loss probability	1.00	—	—
Calmar ratio: Return relative to maximum drawdown	-0.12	—	—
Martin ratio: Return relative to average drawdown	-0.24	—	—

Drawdowns

XSW vs. TSXU - Drawdown Comparison

The maximum XSW drawdown since its inception was -45.38%, which is greater than TSXU's maximum drawdown of -35.62%. Use the drawdown chart below to compare losses from any high point for XSW and TSXU.

Drawdown Indicators

	XSW	TSXU	Difference
Max Drawdown Largest peak-to-trough decline	-45.38%	-35.62%	-9.76%
Max Drawdown (1Y) Largest decline over 1 year	-33.75%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-33.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-45.38%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.38%	—	—
Current Drawdown Current decline from peak	-12.97%	-17.97%	+5.00%
Average Drawdown Average peak-to-trough decline	-9.88%	-10.87%	+0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.67%	—	—

Volatility

Volatility by Period

	XSW	TSXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.88%	—	—
Volatility (6M) Calculated over the trailing 6-month period	24.53%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	29.16%	90.45%	-61.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.04%	90.45%	-61.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.29%	90.45%	-64.16%

XSW vs. TSXU - Expense Ratio Comparison

XSW has a 0.35% expense ratio, which is lower than TSXU's 1.05% expense ratio.

Dividends

XSW vs. TSXU - Dividend Comparison

XSW has not paid dividends to shareholders, while TSXU's dividend yield for the trailing twelve months is around 1.73%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	1.73%	2.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XSW SPDR S&P Software & Services ETF	0.00%	0.06%	0.07%	0.20%	0.09%	0.13%	0.26%	0.12%	0.31%	0.46%	0.87%	0.54%

Frequently Asked Questions

Can I hold both XSW and TSXU in my portfolio?

XSW and TSXU have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XSW or TSXU?

On fees, XSW is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XSW or TSXU?

XSW is cheaper with a 0.35% expense ratio, compared with 1.05% for TSXU.

Which ETF pays a higher dividend yield, XSW or TSXU?

TSXU has the higher dividend yield at 1.73%, compared with 0.00% for XSW.

What is the main difference between XSW and TSXU?

XSW is categorized as Technology Equities, while TSXU is Leveraged Equities. XSW tracks S&P Software & Services Select Industry Index, while TSXU tracks Solactive Semiconductor Top 5 Index (2x). They also come from different issuers: State Street and Direxion. Their fees differ too: 0.35% for XSW and 1.05% for TSXU.