NVDD vs SPXL
Direxion Daily NVDA Bear 1X ETF vs Direxion Daily S&P 500 Bull 3X ETF
Which is better, NVDD or SPXL?
Opposite sides of the same exposure.
SPXL has a lower expense ratio. SPXL led over 1Y, 3Y and the full window. The two move opposite each other, correlation -0.63, so holding both offsets the exposure while paying both fees.
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 | NVDD | SPXL |
|---|---|---|
| Expense Ratio | 1.01% | 0.87%Best |
| AUM | $16M | $7.4B |
| Dividend Yield | 4.73% | 0.52% |
| Holdings | 9 | 1,030 |
| YTD Return | -19.27% | +30.47%Best |
| 1Y Return | -23.66% | +39.94%Best |
| 3Y Return (annualized) | -48.47% | +52.99%Best |
| 5Y Return (annualized) | - | +20.66% |
| Volatility (annualized) | 31.9%Best | 38.7% |
| Max Drawdown | -88.8% | -49.0%Best |
| $10,000 over 3.1 years | $1,338 | $33,264Best |
| Fund Family | Direxion Shares ETF Trust | Direxion Shares ETF Trust |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Sep 13, 2023 | Nov 5, 2008 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.1 years row, are measured over the window both funds cover: Sep 13, 2023 to Oct 14, 2026 (3.1 years).
NVDD 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 3.1 years both funds cover.
NVDD vs SPXL Performance
Direxion Daily NVDA Bear 1X ETF (NVDD) is an ETF from Direxion Shares ETF Trust and Direxion Daily S&P 500 Bull 3X ETF (SPXL) is an ETF from Direxion Shares ETF Trust. Over the past year NVDD returned -23.66% while SPXL returned +39.94%. Year to date, NVDD is down 19.27% versus a gain of 30.47% for SPXL.
Over three years, NVDD compounded at -48.47% per year against +52.99% for SPXL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 38.7% compared with 31.9% for NVDD. 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 -88.8% for NVDD 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 -0.63. They move opposite each other. Holding both offsets the exposure rather than spreading it, while paying both funds' fees.
Fees and Cost Over Time
NVDD charges 1.01% per year while SPXL charges 0.87%. On a $10,000 position that is $101 vs $87 annually, a gap of $14 per year that compounds over a long holding period. On income, NVDD currently yields 4.73% against 0.52% for SPXL.
Holdings Overlap
At least 24.3% of SPXL's money is in holdings NVDD also owns.
Stated as a floor: for NVDD, our book for it covers 84.4% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
They hold the same names on opposite sides, so owning both offsets the exposure rather than doubling it.
3 positions in common, counted across the 3 positions we hold weights for in NVDD and 506 in SPXL, against full books of 9 and 1,030.
24.3% of SPXL is already inside NVDD.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, NVDD or SPXL?
NVDD has an expense ratio of 1.01% while SPXL charges 0.87%. SPXL is the cheaper option, by $14 a year on a $10,000 investment.
Which performed better, NVDD or SPXL?
Over the past year NVDD returned -23.66% vs +39.94% for SPXL, so SPXL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NVDD or SPXL?
SPXL has been the more volatile fund at 38.7% annualized versus 31.9% for NVDD. Worst drawdown: NVDD -88.8% vs SPXL -49.0%.
Should I hold both NVDD and SPXL?
NVDD and SPXL have a monthly-return correlation of -0.63, so they move opposite each other. Holding both offsets the exposure rather than spreading it, and pays both funds' fees on the way. This is information, not a recommendation.
What is the holdings overlap between NVDD and SPXL?
At least 24.3% of SPXL's money is in holdings NVDD also owns. Our book for NVDD is partial, so the real figure is this or higher. They hold 3 positions in common, counted across the 3 positions we hold weights for in NVDD and 506 in SPXL.
Which pays a higher dividend, NVDD or SPXL?
NVDD yields 4.73% while SPXL yields 0.52%, so NVDD currently pays the higher dividend yield.
Is SPXL better than NVDD?
SPXL has a lower expense ratio. SPXL led over 1Y, 3Y and the full window. The two move opposite each other, correlation -0.63, so holding both offsets the exposure while paying both fees. Which one suits a particular account depends on what it is for. This is information, not a recommendation.