SPXL vs SQMX
Direxion Daily S&P 500 Bull 3X ETF vs FT Vest US Equity Quarterly Max Buffer ETF
Which is better, SPXL or SQMX?
SPXL has been ahead.
SQMX has a lower expense ratio. SPXL led over 1Y 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 | SPXL | SQMX |
|---|---|---|
| Expense Ratio | 0.87% | 0.85%Best |
| AUM | $7.4B | $55M |
| Dividend Yield | 0.52% | 0.00% |
| Holdings | 1,030 | 10 |
| YTD Return | +30.47%Best | +4.77% |
| 1Y Return | +39.94%Best | +7.41% |
| 3Y Return (annualized) | +52.99% | - |
| 5Y Return (annualized) | +20.66% | - |
| Volatility (annualized) | 39.3% | 2.8%Best |
| Max Drawdown | -48.9% | -7.4%Best |
| $10,000 over 1.8 years | $16,442Best | $11,346 |
| Fund Family | Direxion Shares ETF Trust | First Trust Portfolios (US) |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Nov 5, 2008 | Dec 20, 2024 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 23, 2024 to Oct 14, 2026 (1.8 years).
SPXL vs SQMX 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 1.8 years both funds cover.
SPXL vs SQMX Performance
Direxion Daily S&P 500 Bull 3X ETF (SPXL) is an ETF from Direxion Shares ETF Trust and FT Vest US Equity Quarterly Max Buffer ETF (SQMX) is an ETF from First Trust Portfolios (US). Over the past year SPXL returned +39.94% while SQMX returned +7.41%. Year to date, SPXL is up 30.47% versus a gain of 4.77% for SQMX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 39.3% compared with 2.8% for SQMX. 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 -48.9% for SPXL and -7.4% for SQMX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPXL charges 0.87% per year while SQMX charges 0.85%. On a $10,000 position that is $87 vs $85 annually, a gap of $2 per year that compounds over a long holding period. On income, SPXL currently yields 0.52% against 0.00% for SQMX.
You are not choosing between two funds in isolation.
Whichever of SPXL and SQMX 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, SPXL or SQMX?
SPXL has an expense ratio of 0.87% while SQMX charges 0.85%. SQMX is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, SPXL or SQMX?
Over the past year SPXL returned +39.94% vs +7.41% for SQMX, so SPXL leads on 1-year performance. Over the longest common window we track (2 years), SPXL annualized +31.82% vs +7.27% for SQMX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPXL or SQMX?
SPXL has been the more volatile fund at 39.3% annualized versus 2.8% for SQMX. Worst drawdown: SPXL -48.9% vs SQMX -7.4%.
Should I hold both SPXL and SQMX?
SPXL and SQMX have a monthly-return correlation of 0.87, 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, SPXL or SQMX?
SPXL yields 0.52% while SQMX yields 0.00%, so SPXL currently pays the higher dividend yield.
Is SQMX better than SPXL?
SQMX has a lower expense ratio. SPXL led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.