^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.
Key characteristics
| ^NDX | SPXL | |
|---|---|---|
| YTD Return | 6.33% | 18.51% |
| 1Y Return | 37.81% | 77.61% |
| 3Y Return (Ann) | 9.73% | 8.77% |
| 5Y Return (Ann) | 17.94% | 19.43% |
| 10Y Return (Ann) | 17.56% | 23.34% |
| Sharpe Ratio | 2.25 | 2.13 |
| Daily Std Dev | 16.58% | 34.73% |
| Max Drawdown | -82.90% | -76.86% |
| Current Drawdown | -2.45% | -14.25% |
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
In the year-to-date period, ^NDX achieves a 6.33% return, which is significantly lower than SPXL's 18.51% return. Over the past 10 years, ^NDX has underperformed SPXL with an annualized return of 17.56%, while SPXL has yielded a comparatively higher 23.34% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
^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 5.91%, while Direxion Daily S&P 500 Bull 3X Shares (SPXL) has a volatility of 12.14%. 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.