SPXL vs XSPI
Direxion Daily S&P 500 Bull 3X ETF vs NEOS Boosted S&P 500 High Income ETF
Which is better, SPXL or XSPI?
SPXL costs less.
SPXL has a lower expense ratio. XSPI is less concentrated, with 39.1% 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 | SPXL | XSPI |
|---|---|---|
| Expense Ratio | 0.87%Best | 0.98% |
| AUM | $7.4B | $119M |
| Dividend Yield | 0.52% | 9.60% |
| Holdings | 1,030 | 1,018 |
| YTD Return | +30.47%Best | +11.70% |
| 1Y Return | +39.94% | - |
| 3Y Return (annualized) | +52.99% | - |
| 5Y Return (annualized) | +20.66% | - |
| Top 10 Weight | 48.3% | 39.1%Best |
| Fund Family | Direxion Shares ETF Trust | NEOS |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Nov 5, 2008 | Feb 2, 2026 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
SPXL vs XSPI 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
SPXL vs XSPI Performance
Direxion Daily S&P 500 Bull 3X ETF (SPXL) is an ETF from Direxion Shares ETF Trust and NEOS Boosted S&P 500 High Income ETF (XSPI) is an ETF from NEOS. Year to date, SPXL is up 30.47% versus a gain of 11.70% for XSPI.
Past performance does not guarantee future results.
Fees and Cost Over Time
SPXL charges 0.87% per year while XSPI charges 0.98%. On a $10,000 position that is $87 vs $98 annually, a gap of $11 per year that compounds over a long holding period. On income, SPXL currently yields 0.52% against 9.60% for XSPI.
Holdings Overlap
71.0% of SPXL's money is in holdings XSPI also owns. 95.3% of XSPI's money is in holdings SPXL also owns.
Most of XSPI is already inside SPXL. Owning both mostly buys the same companies twice.
482 positions in common, counted across the 506 positions we hold weights for in SPXL and 491 in XSPI, against full books of 1,030 and 1,018.
What only one of them owns
Our book lists 6 positions for XSPI that do not appear in our book for SPXL (1.9% of the fund), and 21 for SPXL that do not appear in XSPI (26.1%).
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 SPXL | Weight in XSPI | Difference |
|---|---|---|---|
| NVDANvidia Corp | 5.70% | 8.00% | 2.30% |
| AAPLApple, Inc | 5.45% | 7.69% | 2.24% |
| MSFTMicrosoft Corp | 4.19% | 5.88% | 1.69% |
| AMZNAmazon.Com Inc | 2.77% | 3.90% | 1.13% |
| GOOGLAlphabet Inc | 2.28% | 3.21% | 0.93% |
| GOOGAlphabet Inc. C | 1.82% | 2.55% | 0.73% |
| AVGOBroadcom Inc | 1.82% | 2.54% | 0.72% |
| METAMeta Platforms Inc | 1.63% | 2.24% | 0.61% |
| MUMicron Technology, Inc. | 1.16% | 1.57% | 0.41% |
| TSLATesla Inc | 1.13% | 1.55% | 0.42% |
95.3% of XSPI 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, SPXL or XSPI?
SPXL has an expense ratio of 0.87% while XSPI charges 0.98%. SPXL is the cheaper option, by $11 a year on a $10,000 investment.
What is the holdings overlap between SPXL and XSPI?
95.3% of XSPI's money is in holdings SPXL also owns. 95.3% of XSPI's is in holdings SPXL also owns. They hold 482 positions in common, counted across the 506 positions we hold weights for in SPXL and 491 in XSPI.
Which pays a higher dividend, SPXL or XSPI?
SPXL yields 0.52% while XSPI yields 9.60%, so XSPI currently pays the higher dividend yield.
Is XSPI better than SPXL?
SPXL has a lower expense ratio. XSPI is less concentrated, with 39.1% 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.