XTJL vs. SPUU

Last updated Jun 4, 2026

XTJL (Innovator U.S. Equity Accelerated Plus ETF - July) and SPUU (Direxion Daily S&P 500 Bull 2x Shares) are both Leveraged Equities funds. XTJL is actively managed, while SPUU is passively managed. Over the past 3 years, XTJL returned 14.68%/yr vs 38.21%/yr for SPUU. Their correlation of 0.95 suggests significant overlap in exposure. XTJL charges 0.79%/yr vs 0.64%/yr for SPUU.

Performance

XTJL vs. SPUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) and Direxion Daily S&P 500 Bull 2x Shares (SPUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XTJL achieves a 5.36% return, which is significantly lower than SPUU's 19.82% return.

XTJL

• 1D: 0.00%
• 1M: 1.16%
• YTD: 5.36%
• 6M: 6.38%
• 1Y: 15.64%
• 3Y*: 14.68%
• 5Y*: —
• 10Y*: —

SPUU

• 1D: -1.27%
• 1M: 10.01%
• YTD: 19.82%
• 6M: 19.11%
• 1Y: 53.61%
• 3Y*: 38.21%
• 5Y*: 20.19%
• 10Y*: 24.77%

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

XTJL vs. SPUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XTJL Innovator U.S. Equity Accelerated Plus ETF - July	5.36%	15.42%	14.43%	25.72%	-15.66%	7.28%
SPUU Direxion Daily S&P 500 Bull 2x Shares	19.82%	26.55%	44.25%	47.28%	-38.72%	21.72%

Correlation

The correlation between XTJL and SPUU is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jul 2, 2021	0.95

The correlation between XTJL and SPUU has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

XTJL vs. SPUU - Sectors Allocation Comparison

Sectors	XTJL	SPUU
Technology	36.2%	16.5%
Financial Services	11.9%	4.8%
Communication Services	10.9%	4.6%
Consumer Cyclical	10.1%	4.2%
Healthcare	8.4%	3.6%
Industrials	8.1%	3.3%
Consumer Defensive	4.9%	2.0%
Energy	3.5%	1.4%
Utilities	2.3%	1.1%
Real Estate	1.9%	0.8%
Basic Materials	1.8%	0.7%

Return for Risk

XTJL vs. SPUU — Risk / Return Rank

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

XTJL

XTJL Risk / Return Rank: 71
XTJL Sharpe Ratio Rank: 63
XTJL Sortino Ratio Rank: 68
XTJL Omega Ratio Rank: 77
XTJL Calmar Ratio Rank: 62
XTJL Martin Ratio Rank: 84

SPUU

SPUU Risk / Return Rank: 63
SPUU Sharpe Ratio Rank: 67
SPUU Sortino Ratio Rank: 60
SPUU Omega Ratio Rank: 60
SPUU Calmar Ratio Rank: 59
SPUU Martin Ratio Rank: 69

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.

XTJL vs. SPUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) and Direxion Daily S&P 500 Bull 2x Shares (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.

	XTJL	SPUU	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.26	-0.14
Sortino ratio: Return per unit of downside risk	3.14	2.87	+0.27
Omega ratio: Gain probability vs. loss probability	1.46	1.38	+0.09
Calmar ratio: Return relative to maximum drawdown	3.07	2.96	+0.11
Martin ratio: Return relative to average drawdown	17.37	13.06	+4.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XTJL vs. SPUU - Sharpe Ratio Comparison

The current XTJL Sharpe Ratio is 2.12, which is comparable to the SPUU Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of XTJL 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.

Sharpe Ratios by Period

	XTJL	SPUU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.26	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.63	+0.01

Drawdowns

XTJL vs. SPUU - Drawdown Comparison

The maximum XTJL drawdown since its inception was -23.24%, smaller than the maximum SPUU drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for XTJL and SPUU.

Drawdown Indicators

	XTJL	SPUU	Difference
Max Drawdown Largest peak-to-trough decline	-23.24%	-59.35%	+36.11%
Max Drawdown (1Y) Largest decline over 1 year	-5.12%	-18.19%	+13.07%
Max Drawdown (3Y) Largest decline over 3 years	-16.70%	-35.18%	+18.48%
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	0.00%	-1.27%	+1.27%
Average Drawdown Average peak-to-trough decline	-4.04%	-9.51%	+5.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	4.12%	-3.22%

Volatility

XTJL vs. SPUU - Volatility Comparison

The current volatility for Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) is 0.33%, while Direxion Daily S&P 500 Bull 2x Shares (SPUU) has a volatility of 5.71%. This indicates that XTJL experiences smaller price fluctuations and is considered to be less risky than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTJL	SPUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.33%	5.71%	-5.38%
Volatility (6M) Calculated over the trailing 6-month period	5.72%	18.09%	-12.37%
Volatility (1Y) Calculated over the trailing 1-year period	7.43%	23.90%	-16.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.22%	33.46%	-18.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.22%	35.77%	-20.55%

XTJL vs. SPUU - Expense Ratio Comparison

XTJL has a 0.79% expense ratio, which is higher than SPUU's 0.64% expense ratio.

Dividends

XTJL vs. SPUU - Dividend Comparison

XTJL has not paid dividends to shareholders, while SPUU's dividend yield for the trailing twelve months is around 1.34%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPUU Direxion Daily S&P 500 Bull 2x Shares	1.34%	1.63%	0.55%	0.83%	0.88%	3.04%	8.03%	1.80%	5.50%	6.96%	8.08%	4.42%
XTJL Innovator U.S. Equity Accelerated Plus ETF - July	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 XTJL and SPUU in my portfolio?

With a correlation of 0.91, XTJL and SPUU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XTJL or SPUU?

SPUU has higher volatility (5.71%) compared to XTJL (0.33%). In terms of maximum drawdown, XTJL dropped -23.24% vs SPUU's -59.35%.

Which ETF is better, XTJL or SPUU?

On 3-year performance, SPUU leads with 38.21% vs 14.68% for XTJL. On fees, SPUU is cheaper at 0.64% per year. On volatility, XTJL has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XTJL or SPUU?

Over the 3-year period, SPUU has performed better with a 38.21% return vs 14.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTJL or SPUU?

SPUU is cheaper with a 0.64% expense ratio, compared with 0.79% for XTJL.

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

SPUU has the higher dividend yield at 1.34%, compared with 0.00% for XTJL.

What is the main difference between XTJL and SPUU?

They also come from different issuers: Innovator and Direxion. Their fees differ too: 0.79% for XTJL and 0.64% for SPUU.

Which has better risk-adjusted returns?

SPUU currently has the higher Sharpe Ratio (2.26 vs 2.12), 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.