^NDX vs. SPXL
Compare and contrast key facts about NASDAQ 100 (^NDX) and Direxion Daily S&P 500 Bull 3X Shares (SPXL).
SPXL is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index (300%). It was launched on Nov 5, 2008.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ^NDX or SPXL.
Correlation
The correlation between ^NDX and SPXL is 0.90, 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
^NDX vs. SPXL - Performance Comparison
Key characteristics
^NDX:
0.33
SPXL:
0.16
^NDX:
0.56
SPXL:
0.49
^NDX:
1.07
SPXL:
1.06
^NDX:
0.48
SPXL:
0.23
^NDX:
1.26
SPXL:
0.70
^NDX:
5.13%
SPXL:
9.44%
^NDX:
19.81%
SPXL:
41.10%
^NDX:
-82.90%
SPXL:
-76.86%
^NDX:
-12.35%
SPXL:
-24.73%
Returns By Period
In the year-to-date period, ^NDX achieves a -7.50% return, which is significantly higher than SPXL's -15.73% return. Over the past 10 years, ^NDX has underperformed SPXL with an annualized return of 16.28%, while SPXL has yielded a comparatively higher 21.56% annualized return.
^NDX
-7.50%
-6.93%
-1.70%
6.25%
20.64%
16.28%
SPXL
-15.73%
-16.80%
-10.60%
7.19%
43.59%
21.56%
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Risk-Adjusted Performance
^NDX vs. SPXL — Risk-Adjusted Performance Rank
^NDX
SPXL
^NDX vs. SPXL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for NASDAQ 100 (^NDX) and Direxion Daily S&P 500 Bull 3X Shares (SPXL). 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.
Drawdowns
^NDX vs. SPXL - Drawdown Comparison
The maximum ^NDX drawdown since its inception was -82.90%, which is greater than SPXL's maximum drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for ^NDX and SPXL. For additional features, visit the drawdowns tool.
Volatility
^NDX vs. SPXL - Volatility Comparison
The current volatility for NASDAQ 100 (^NDX) is 7.72%, while Direxion Daily S&P 500 Bull 3X Shares (SPXL) has a volatility of 16.93%. This indicates that ^NDX experiences smaller price fluctuations and is considered to be less risky than SPXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.