DSEP vs SPXL
FT Vest US Equity Deep Buffer ETF - September vs Direxion Daily S&P 500 Bull 3X ETF
Which is better, DSEP or SPXL?
SPXL has been ahead.
DSEP has a lower expense ratio. SPXL led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.94.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DSEP | SPXL |
|---|---|---|
| Expense Ratio | 0.85%Best | 0.87% |
| AUM | $423M | $7.4B |
| Dividend Yield | 0.00% | 0.52% |
| Holdings | 10 | 1,030 |
| YTD Return | +9.34% | +30.47%Best |
| 1Y Return | +11.48% | +39.94%Best |
| 3Y Return (annualized) | +12.52% | +52.99%Best |
| 5Y Return (annualized) | +8.67% | +20.66%Best |
| Volatility (annualized) | 7.0%Best | 46.6% |
| Max Drawdown | -11.8%Best | -63.8% |
| $10,000 over 5 years | $15,155 | $25,575Best |
| Fund Family | First Trust Portfolios (US) | Direxion Shares ETF Trust |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Sep 18, 2020 | Nov 5, 2008 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 21, 2020 to Oct 14, 2026 (6.1 years).
DSEP vs SPXL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 6.1 years both funds cover.
DSEP vs SPXL Performance
FT Vest US Equity Deep Buffer ETF - September (DSEP) is an ETF from First Trust Portfolios (US) and Direxion Daily S&P 500 Bull 3X ETF (SPXL) is an ETF from Direxion Shares ETF Trust. Over the past year DSEP returned +11.48% while SPXL returned +39.94%. Year to date, DSEP is up 9.34% versus a gain of 30.47% for SPXL.
Over three years, DSEP compounded at +12.52% per year against +52.99% for SPXL; over five years the annualized figures are +8.67% and +20.66% respectively. Across the full 6-year window we track, SPXL has the edge at +34.68% annualized vs +8.67%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 46.6% compared with 7.0% for DSEP. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -11.8% for DSEP and -63.8% for SPXL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DSEP charges 0.85% per year while SPXL charges 0.87%. On a $10,000 position that is $85 vs $87 annually, a gap of $2 per year that compounds over a long holding period. On income, DSEP currently yields 0.00% against 0.52% for SPXL.
You are not choosing between two funds in isolation.
Whichever of DSEP and SPXL you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DSEP or SPXL?
DSEP has an expense ratio of 0.85% while SPXL charges 0.87%. DSEP is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, DSEP or SPXL?
Over the past year DSEP returned +11.48% vs +39.94% for SPXL, so SPXL leads on 1-year performance. Over the longest common window we track (6 years), DSEP annualized +8.67% vs +34.68% for SPXL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DSEP or SPXL?
SPXL has been the more volatile fund at 46.6% annualized versus 7.0% for DSEP. Worst drawdown: DSEP -11.8% vs SPXL -63.8%.
Should I hold both DSEP and SPXL?
DSEP and SPXL have a monthly-return correlation of 0.94, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, DSEP or SPXL?
DSEP yields 0.00% while SPXL yields 0.52%, so SPXL currently pays the higher dividend yield.
Is SPXL better than DSEP?
DSEP has a lower expense ratio. SPXL led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.94. Which one suits a particular account depends on what it is for. This is information, not a recommendation.