GAPR vs SPXL
FT Vest US Equity Moderate Buffer ETF - April vs Direxion Daily S&P 500 Bull 3X ETF
Which is better, GAPR or SPXL?
SPXL has been ahead.
GAPR has a lower expense ratio. SPXL led over 1Y, 3Y 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 | GAPR | SPXL |
|---|---|---|
| Expense Ratio | 0.85%Best | 0.87% |
| AUM | $298M | $7.4B |
| Dividend Yield | 0.00% | 0.52% |
| Holdings | 10 | 1,030 |
| YTD Return | +6.91% | +30.47%Best |
| 1Y Return | +9.03% | +39.94%Best |
| 3Y Return (annualized) | +11.25% | +52.99%Best |
| 5Y Return (annualized) | - | +20.66% |
| Volatility (annualized) | 4.8%Best | 39.1% |
| Max Drawdown | -9.0%Best | -49.0% |
| $10,000 over 3.5 years | $14,418 | $40,246Best |
| Fund Family | First Trust Portfolios (US) | Direxion Shares ETF Trust |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Apr 21, 2023 | Nov 5, 2008 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.5 years row, are measured over the window both funds cover: Apr 24, 2023 to Oct 14, 2026 (3.5 years).
GAPR 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 3.5 years both funds cover.
GAPR vs SPXL Performance
FT Vest US Equity Moderate Buffer ETF - April (GAPR) 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 GAPR returned +9.03% while SPXL returned +39.94%. Year to date, GAPR is up 6.91% versus a gain of 30.47% for SPXL.
Over three years, GAPR compounded at +11.25% per year against +52.99% for SPXL. Across the full 4-year window we track, SPXL has the edge at +48.86% annualized vs +11.02%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 39.1% compared with 4.8% for GAPR. 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 -9.0% for GAPR and -49.0% 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GAPR 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, GAPR currently yields 0.00% against 0.52% for SPXL.
You are not choosing between two funds in isolation.
Whichever of GAPR 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, GAPR or SPXL?
GAPR has an expense ratio of 0.85% while SPXL charges 0.87%. GAPR is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, GAPR or SPXL?
Over the past year GAPR returned +9.03% vs +39.94% for SPXL, so SPXL leads on 1-year performance. Over the longest common window we track (4 years), GAPR annualized +11.02% vs +48.86% for SPXL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GAPR or SPXL?
SPXL has been the more volatile fund at 39.1% annualized versus 4.8% for GAPR. Worst drawdown: GAPR -9.0% vs SPXL -49.0%.
Should I hold both GAPR and SPXL?
GAPR and SPXL have a monthly-return correlation of 0.77, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, GAPR or SPXL?
GAPR yields 0.00% while SPXL yields 0.52%, so SPXL currently pays the higher dividend yield.
Is SPXL better than GAPR?
GAPR has a lower expense ratio. SPXL led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.