MKAM vs SPXL
MKAM ETF vs Direxion Daily S&P 500 Bull 3X ETF
Which is better, MKAM or SPXL?
SPXL has been ahead.
MKAM has a lower expense ratio. SPXL led over 1Y, 3Y 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 | MKAM | SPXL |
|---|---|---|
| Expense Ratio | 0.55%Best | 0.87% |
| AUM | $14M | $7.4B |
| Dividend Yield | 2.60% | 0.52% |
| Holdings | 8 | 1,030 |
| YTD Return | +6.95% | +30.47%Best |
| 1Y Return | +9.24% | +39.94%Best |
| 3Y Return (annualized) | +10.63% | +52.99%Best |
| 5Y Return (annualized) | - | +20.66% |
| Volatility (annualized) | 5.5%Best | 39.1% |
| Max Drawdown | -5.0%Best | -49.0% |
| $10,000 over 3.5 years | $14,071 | $40,864Best |
| Fund Family | MKAM ETF, LLC | Direxion Shares ETF Trust |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Apr 12, 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 12, 2023 to Oct 14, 2026 (3.5 years).
MKAM 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.
MKAM vs SPXL Performance
MKAM ETF (MKAM) is an ETF from MKAM ETF, LLC and Direxion Daily S&P 500 Bull 3X ETF (SPXL) is an ETF from Direxion Shares ETF Trust. Over the past year MKAM returned +9.24% while SPXL returned +39.94%. Year to date, MKAM is up 6.95% versus a gain of 30.47% for SPXL.
Over three years, MKAM compounded at +10.63% per year against +52.99% for SPXL. Across the full 4-year window we track, SPXL has the edge at +49.51% annualized vs +10.25%.
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 5.5% for MKAM. 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 -5.0% for MKAM 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MKAM charges 0.55% per year while SPXL charges 0.87%. On a $10,000 position that is $55 vs $87 annually, a gap of $32 per year that compounds over a long holding period. On income, MKAM currently yields 2.60% against 0.52% for SPXL.
Holdings Overlap
We hold position weights for 3 holdings in MKAM and 506 in SPXL, totalling 99.9% and 97.3% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 3 positions we hold weights for in MKAM and 506 in SPXL, against full books of 8 and 1,030.
You are not choosing between two funds in isolation.
Whichever of MKAM 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, MKAM or SPXL?
MKAM has an expense ratio of 0.55% while SPXL charges 0.87%. MKAM is the cheaper option, by $32 a year on a $10,000 investment.
Which performed better, MKAM or SPXL?
Over the past year MKAM returned +9.24% vs +39.94% for SPXL, so SPXL leads on 1-year performance. Over the longest common window we track (4 years), MKAM annualized +10.25% vs +49.51% for SPXL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MKAM or SPXL?
SPXL has been the more volatile fund at 39.1% annualized versus 5.5% for MKAM. Worst drawdown: MKAM -5.0% vs SPXL -49.0%.
Should I hold both MKAM and SPXL?
MKAM 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, MKAM or SPXL?
MKAM yields 2.60% while SPXL yields 0.52%, so MKAM currently pays the higher dividend yield.
Is SPXL better than MKAM?
MKAM has a lower expense ratio. SPXL led over 1Y, 3Y 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.