XXXX vs. KORU

Last updated Jun 4, 2026

XXXX (MAX S&P 500 4X Leveraged ETN) and KORU (Direxion Daily South Korea Bull 3X Shares) are both Leveraged Equities funds - XXXX tracks the S&P 500 while KORU tracks the MSCI Korea 25-50 Index. Both are passively managed. Over the past year, XXXX returned 86.73% vs 2160.10% for KORU. A 0.59 correlation means they provide meaningful diversification when combined. XXXX charges 2.95%/yr vs 1.29%/yr for KORU.

Performance

XXXX vs. KORU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MAX S&P 500 4X Leveraged ETN (XXXX) and Direxion Daily South Korea Bull 3X Shares (KORU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XXXX achieves a 29.32% return, which is significantly lower than KORU's 559.14% return.

XXXX

• 1D: -2.88%
• 1M: 18.44%
• YTD: 29.32%
• 6M: 26.06%
• 1Y: 86.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KORU

• 1D: -2.29%
• 1M: 92.47%
• YTD: 559.14%
• 6M: 689.29%
• 1Y: 2,160.10%
• 3Y*: 132.56%
• 5Y*: 23.42%
• 10Y*: 19.62%

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

XXXX vs. KORU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XXXX MAX S&P 500 4X Leveraged ETN	29.32%	17.36%	61.36%	16.31%
KORU Direxion Daily South Korea Bull 3X Shares	559.14%	432.73%	-62.18%	28.49%

Correlation

The correlation between XXXX and KORU is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (All Time) Calculated using the full available price history since Dec 6, 2023	0.59

The correlation between XXXX and KORU has been stable across timeframes, ranging from 0.59 to 0.60 - a consistent structural relationship.

Return for Risk

XXXX vs. KORU — Risk / Return Rank

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

XXXX

XXXX Risk / Return Rank: 49
XXXX Sharpe Ratio Rank: 53
XXXX Sortino Ratio Rank: 45
XXXX Omega Ratio Rank: 47
XXXX Calmar Ratio Rank: 46
XXXX Martin Ratio Rank: 52

KORU

KORU Risk / Return Rank: 97
KORU Sharpe Ratio Rank: 100
KORU Sortino Ratio Rank: 95
KORU Omega Ratio Rank: 95
KORU Calmar Ratio Rank: 99
KORU Martin Ratio Rank: 99

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.

XXXX vs. KORU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MAX S&P 500 4X Leveraged ETN (XXXX) and Direxion Daily South Korea Bull 3X Shares (KORU). 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.

	XXXX	KORU	Difference
Sharpe ratio: Return per unit of total volatility	1.86	17.63	-15.76
Sortino ratio: Return per unit of downside risk	2.31	5.20	-2.89
Omega ratio: Gain probability vs. loss probability	1.30	1.72	-0.42
Calmar ratio: Return relative to maximum drawdown	2.34	35.65	-33.30
Martin ratio: Return relative to average drawdown	8.95	112.99	-104.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XXXX vs. KORU - Sharpe Ratio Comparison

The current XXXX Sharpe Ratio is 1.86, which is lower than the KORU Sharpe Ratio of 17.63. The chart below compares the historical Sharpe Ratios of XXXX and KORU, 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

	XXXX	KORU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	17.63	-15.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.28	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.25	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	0.13	+0.74

Drawdowns

XXXX vs. KORU - Drawdown Comparison

The maximum XXXX drawdown since its inception was -62.27%, smaller than the maximum KORU drawdown of -95.79%. Use the drawdown chart below to compare losses from any high point for XXXX and KORU.

Drawdown Indicators

	XXXX	KORU	Difference
Max Drawdown Largest peak-to-trough decline	-62.27%	-95.79%	+33.52%
Max Drawdown (1Y) Largest decline over 1 year	-37.25%	-61.39%	+24.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-73.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-93.35%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-95.79%	—
Current Drawdown Current decline from peak	-2.88%	-5.39%	+2.51%
Average Drawdown Average peak-to-trough decline	-11.60%	-57.53%	+45.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.73%	19.33%	-9.60%

Volatility

XXXX vs. KORU - Volatility Comparison

The current volatility for MAX S&P 500 4X Leveraged ETN (XXXX) is 11.32%, while Direxion Daily South Korea Bull 3X Shares (KORU) has a volatility of 60.18%. This indicates that XXXX experiences smaller price fluctuations and is considered to be less risky than KORU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XXXX	KORU	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.32%	60.18%	-48.86%
Volatility (6M) Calculated over the trailing 6-month period	35.41%	110.71%	-75.30%
Volatility (1Y) Calculated over the trailing 1-year period	46.83%	124.15%	-77.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.75%	85.11%	-24.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.75%	79.91%	-19.16%

XXXX vs. KORU - Expense Ratio Comparison

XXXX has a 2.95% expense ratio, which is higher than KORU's 1.29% expense ratio.

Dividends

XXXX vs. KORU - Dividend Comparison

XXXX has not paid dividends to shareholders, while KORU's dividend yield for the trailing twelve months is around 0.14%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
KORU Direxion Daily South Korea Bull 3X Shares	0.14%	0.89%	4.10%	2.55%	0.48%	0.76%	0.01%	0.93%	1.40%	3.59%
XXXX MAX S&P 500 4X Leveraged ETN	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 XXXX and KORU in my portfolio?

XXXX and KORU have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XXXX or KORU?

KORU has higher volatility (60.18%) compared to XXXX (11.32%). In terms of maximum drawdown, XXXX dropped -62.27% vs KORU's -95.79%.

Which ETF is better, XXXX or KORU?

On 1-year performance, KORU leads with 2160.10% vs 86.73% for XXXX. On fees, KORU is cheaper at 1.29% per year. On volatility, XXXX has been the lower-risk option at 11.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XXXX or KORU?

Over the 1-year period, KORU has performed better with a 2160.10% return vs 86.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XXXX or KORU?

KORU is cheaper with a 1.29% expense ratio, compared with 2.95% for XXXX.

Which ETF pays a higher dividend yield, XXXX or KORU?

KORU has the higher dividend yield at 0.14%, compared with 0.00% for XXXX.

What is the main difference between XXXX and KORU?

XXXX tracks S&P 500, while KORU tracks MSCI Korea 25-50 Index. They also come from different issuers: Max and Direxion. Their fees differ too: 2.95% for XXXX and 1.29% for KORU.

Which has better risk-adjusted returns?

KORU currently has the higher Sharpe Ratio (17.63 vs 1.86), 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.