XXXX vs. ^GSPC

Performance

Risk-Adjusted Performance

Drawdowns

Volatility

XXXX vs. ^GSPC

Last updated May 15, 2025

Compare and contrast key facts about MAX S&P 500 4X Leveraged ETN (XXXX) and S&P 500 (^GSPC).

XXXX is a passively managed fund by Max that tracks the performance of the S&P 500. It was launched on Dec 4, 2023.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: XXXX or ^GSPC.

Correlation

The correlation between XXXX and ^GSPC is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Performance

XXXX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MAX S&P 500 4X Leveraged ETN (XXXX) and S&P 500 (^GSPC). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

XXXX:

-0.01

^GSPC:

0.63

Sortino Ratio

XXXX:

0.55

^GSPC:

1.04

Omega Ratio

XXXX:

1.08

^GSPC:

1.15

Calmar Ratio

XXXX:

0.00

^GSPC:

0.68

Martin Ratio

XXXX:

0.00

^GSPC:

2.59

Ulcer Index

XXXX:

21.11%

^GSPC:

4.94%

Daily Std Dev

XXXX:

77.38%

^GSPC:

19.64%

Max Drawdown

XXXX:

-62.27%

^GSPC:

-56.78%

Current Drawdown

XXXX:

-33.73%

^GSPC:

-4.09%

Returns By Period

In the year-to-date period, XXXX achieves a -21.98% return, which is significantly lower than ^GSPC's 0.19% return.

XXXX

YTD

-21.98%

1M

34.29%

6M

-30.37%

1Y

-2.07%

5Y*

N/A

10Y*

N/A

^GSPC

YTD

0.19%

1M

9.00%

6M

-1.55%

1Y

12.31%

5Y*

15.59%

10Y*

10.78%

*Annualized

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Risk-Adjusted Performance

XXXX vs. ^GSPC — Risk-Adjusted Performance Rank

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

XXXX

Overall Rank

Sharpe Ratio Rank

Sortino Ratio Rank

Omega Ratio Rank

Calmar Ratio Rank

Martin Ratio Rank

^GSPC

Overall Rank

Sharpe Ratio Rank

Sortino Ratio Rank

Omega Ratio Rank

Calmar Ratio Rank

Martin Ratio Rank

The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

XXXX vs. ^GSPC - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for MAX S&P 500 4X Leveraged ETN (XXXX) and S&P 500 (^GSPC). 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.

The current XXXX Sharpe Ratio is -0.01, which is lower than the ^GSPC Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of XXXX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Drawdowns

XXXX vs. ^GSPC - Drawdown Comparison

The maximum XXXX drawdown since its inception was -62.27%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for XXXX and ^GSPC. For additional features, visit the drawdowns tool.

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Volatility

XXXX vs. ^GSPC - Volatility Comparison

MAX S&P 500 4X Leveraged ETN (XXXX) has a higher volatility of 24.06% compared to S&P 500 (^GSPC) at 6.15%. This indicates that XXXX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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