SPUU vs SPXL
Direxion Daily S&P 500 Bull 2X ETF vs Direxion Daily S&P 500 Bull 3X ETF
Which is better, SPUU or SPXL?
Nearly the same fund. SPUU costs less.
SPUU has a lower expense ratio. SPXL led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. SPUU is less concentrated, with 42.3% of the fund in its ten largest positions against 48.3%.
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 | SPUU | SPXL |
|---|---|---|
| Expense Ratio | 0.60%Best | 0.87% |
| AUM | $296M | $7.4B |
| Dividend Yield | 1.31% | 0.52% |
| Holdings | 1,020 | 1,030 |
| YTD Return | +22.36% | +30.47%Best |
| 1Y Return | +29.25% | +39.94%Best |
| 3Y Return (annualized) | +38.29% | +52.99%Best |
| 5Y Return (annualized) | +18.51% | +20.66%Best |
| Volatility (annualized) | 30.2%Best | 45.3% |
| Max Drawdown | -59.4%Best | -76.9% |
| $10,000 over 5 years | $23,376 | $25,575Best |
| Top 10 Weight | 42.3%Best | 48.3% |
| Fund Family | Direxion Shares ETF Trust | Direxion Shares ETF Trust |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | May 28, 2014 | Nov 5, 2008 |
Volatility and max drawdown are measured over the window both funds cover: May 28, 2014 to Oct 14, 2026 (12.4 years).
SPUU 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 12.4 years both funds cover.
SPUU vs SPXL Performance
Direxion Daily S&P 500 Bull 2X ETF (SPUU) 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 SPUU returned +29.25% while SPXL returned +39.94%. Year to date, SPUU is up 22.36% versus a gain of 30.47% for SPXL.
Over three years, SPUU compounded at +38.29% per year against +52.99% for SPXL; over five years the annualized figures are +18.51% and +20.66% respectively. Across the full 12-year window we track, SPXL has the edge at +26.31% annualized vs +18.43%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 45.3% compared with 30.2% for SPUU. 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 -59.4% for SPUU 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 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPUU charges 0.60% per year while SPXL charges 0.87%. On a $10,000 position that is $60 vs $87 annually, a gap of $27 per year that compounds over a long holding period. On income, SPUU currently yields 1.31% against 0.52% for SPXL.
Holdings Overlap
100.0% of SPUU's money is in holdings SPXL also owns. 97.3% of SPXL's money is in holdings SPUU also owns.
Most of SPUU is already inside SPXL. Owning both mostly buys the same companies twice.
505 positions in common, counted across the 506 positions we hold weights for in SPUU and 506 in SPXL, against full books of 1,020 and 1,030.
What only one of them owns
Our book lists 1 positions for SPXL that do not appear in our book for SPUU (0.0% of the fund), and 0 for SPUU that do not appear in SPXL (0.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SPUU | Weight in SPXL | Difference |
|---|---|---|---|
| DGCXXDreyfus Govt Cash Man Ins | 8.79% | 8.52% | 0.27% |
| NVDANvidia Corp. | 7.12% | 5.70% | 1.42% |
| AAPLApple, Inc | 6.82% | 5.45% | 1.37% |
| DIRXXDreyfus Trsry Securities Cash Mgmt | 0.01% | 10.99% | 10.98% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.23% | 4.19% | 1.04% |
| AMZNAmazon.Com Inc | 3.46% | 2.77% | 0.69% |
| GOOGLAlphabet Inc Cap Stk Cl A | 2.86% | 2.28% | 0.58% |
| FGTXXGoldman Finl Sq Trsry Inst 506 | 0.34% | 4.79% | 4.45% |
| GOOGAlphabet Inc Class C | 2.28% | 1.82% | 0.46% |
| AVGOBroadcom Inc | 2.28% | 1.82% | 0.46% |
100.0% of SPUU is already inside SPXL.
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, SPUU or SPXL?
SPUU has an expense ratio of 0.60% while SPXL charges 0.87%. SPUU is the cheaper option, by $27 a year on a $10,000 investment.
Which performed better, SPUU or SPXL?
Over the past year SPUU returned +29.25% vs +39.94% for SPXL, so SPXL leads on 1-year performance. Over the longest common window we track (12 years), SPUU annualized +18.43% vs +26.31% for SPXL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPUU or SPXL?
SPXL has been the more volatile fund at 45.3% annualized versus 30.2% for SPUU. Worst drawdown: SPUU -59.4% vs SPXL -76.9%.
Should I hold both SPUU and SPXL?
SPUU and SPXL have a monthly-return correlation of 0.99, 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.
What is the holdings overlap between SPUU and SPXL?
100.0% of SPUU's money is in holdings SPXL also owns. 97.3% of SPXL's is in holdings SPUU also owns. They hold 505 positions in common, counted across the 506 positions we hold weights for in SPUU and 506 in SPXL.
Which pays a higher dividend, SPUU or SPXL?
SPUU yields 1.31% while SPXL yields 0.52%, so SPUU currently pays the higher dividend yield.
Is SPXL better than SPUU?
SPUU has a lower expense ratio. SPXL led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. SPUU is less concentrated, with 42.3% of the fund in its ten largest positions against 48.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.