FTLS vs SPXL
First Trust Long/Short Equity ETF vs Direxion Daily S&P 500 Bull 3X ETF
Which is better, FTLS or SPXL?
SPXL has been ahead.
SPXL has a lower expense ratio. SPXL led over 1Y, 3Y, 5Y and the full window.
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 | FTLS | SPXL |
|---|---|---|
| Expense Ratio | 1.38% | 0.87%Best |
| AUM | $2.7B | $7.4B |
| Dividend Yield | 0.87% | 0.52% |
| Holdings | 363 | 1,030 |
| YTD Return | +9.83% | +30.47%Best |
| 1Y Return | +13.43% | +39.94%Best |
| 3Y Return (annualized) | +14.42% | +52.99%Best |
| 5Y Return (annualized) | +10.59% | +20.66%Best |
| Volatility (annualized) | 8.7%Best | 45.8% |
| Max Drawdown | -20.5%Best | -76.9% |
| $10,000 over 5 years | $16,542 | $25,575Best |
| Fund Family | First Trust Portfolios (US) | Direxion Shares ETF Trust |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Sep 8, 2014 | Nov 5, 2008 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2014 to Oct 14, 2026 (12.1 years).
FTLS 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
FTLS vs SPXL Performance
First Trust Long/Short Equity ETF (FTLS) 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 FTLS returned +13.43% while SPXL returned +39.94%. Year to date, FTLS is up 9.83% versus a gain of 30.47% for SPXL.
Over three years, FTLS compounded at +14.42% per year against +52.99% for SPXL; over five years the annualized figures are +10.59% and +20.66% respectively. Across the full 12-year window we track, SPXL has the edge at +25.70% annualized vs +8.71%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 45.8% compared with 8.7% for FTLS. 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 -20.5% for FTLS and -76.9% 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 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FTLS charges 1.38% per year while SPXL charges 0.87%. On a $10,000 position that is $138 vs $87 annually, a gap of $51 per year that compounds over a long holding period. On income, FTLS currently yields 0.87% against 0.52% for SPXL.
Holdings Overlap
At least 46.9% of SPXL's money is in holdings FTLS also owns.
Stated as a floor: for FTLS, our book for it covers 94.2% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
207 positions in common, counted across the 507 positions we hold weights for in FTLS and 506 in SPXL, against full books of 363 and 1,030.
Top Shared Holdings
| Stock | Weight in FTLS | Weight in SPXL | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 6.67% | 5.70% | 0.97% |
| AAPLApple, Inc | 5.55% | 5.45% | 0.10% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 4.13% | 4.19% | 0.06% |
| GOOGLAlphabet Inc Cap Stk Cl A | 4.15% | 2.28% | 1.87% |
| AMZNAmazon.Com Inc | 2.60% | 2.77% | 0.17% |
| AVGOBroadcom Inc | 1.08% | 1.82% | 0.74% |
| METAMeta Platform Inc | 1.16% | 1.63% | 0.47% |
| STXSeagate Technology Plc | 2.05% | 0.20% | 1.85% |
| MUMicron Technology, Inc. | 0.79% | 1.16% | 0.37% |
| VVisa Inc-class A Shares | 1.11% | 0.69% | 0.42% |
46.9% of SPXL is already inside FTLS.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FTLS or SPXL?
FTLS has an expense ratio of 1.38% while SPXL charges 0.87%. SPXL is the cheaper option, by $51 a year on a $10,000 investment.
Which performed better, FTLS or SPXL?
Over the past year FTLS returned +13.43% vs +39.94% for SPXL, so SPXL leads on 1-year performance. Over the longest common window we track (12 years), FTLS annualized +8.71% vs +25.70% for SPXL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FTLS or SPXL?
SPXL has been the more volatile fund at 45.8% annualized versus 8.7% for FTLS. Worst drawdown: FTLS -20.5% vs SPXL -76.9%.
Should I hold both FTLS and SPXL?
FTLS and SPXL have a monthly-return correlation of 0.89, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FTLS and SPXL?
At least 46.9% of SPXL's money is in holdings FTLS also owns. Our book for FTLS is partial, so the real figure is this or higher. They hold 207 positions in common, counted across the 507 positions we hold weights for in FTLS and 506 in SPXL.
Which pays a higher dividend, FTLS or SPXL?
FTLS yields 0.87% while SPXL yields 0.52%, so FTLS currently pays the higher dividend yield.
Is SPXL better than FTLS?
SPXL has a lower expense ratio. SPXL led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.