SPXL vs XYLD
Direxion Daily S&P 500 Bull 3X ETF vs Global X S&P 500 Covered Call ETF
Which is better, SPXL or XYLD?
SPXL has been ahead.
XYLD has a lower expense ratio. SPXL led over 1Y, 3Y, 5Y and the full window. XYLD is less concentrated, with 39.8% 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 | XYLD |
|---|---|---|
| Expense Ratio | 0.87% | 0.60%Best |
| AUM | $7.4B | $3.4B |
| Dividend Yield | 0.52% | 10.44% |
| Holdings | 1,030 | 1,014 |
| YTD Return | +30.47%Best | +11.42% |
| 1Y Return | +39.94%Best | +18.43% |
| 3Y Return (annualized) | +52.99%Best | +13.38% |
| 5Y Return (annualized) | +20.66%Best | +7.59% |
| Volatility (annualized) | 44.5% | 11.1%Best |
| Max Drawdown | -76.9% | -34.7%Best |
| $10,000 over 5 years | $25,575Best | $14,416 |
| Top 10 Weight | 48.3% | 39.8%Best |
| Fund Family | Direxion Shares ETF Trust | Global X by mirae Asset |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Nov 5, 2008 | Jun 21, 2013 |
Volatility and max drawdown are measured over the window both funds cover: Jun 24, 2013 to Oct 14, 2026 (13.3 years).
SPXL vs XYLD 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 XYLD Performance
Direxion Daily S&P 500 Bull 3X ETF (SPXL) is an ETF from Direxion Shares ETF Trust and Global X S&P 500 Covered Call ETF (XYLD) is an ETF from Global X by mirae Asset. Over the past year SPXL returned +39.94% while XYLD returned +18.43%. Year to date, SPXL is up 30.47% versus a gain of 11.42% for XYLD.
Over three years, SPXL compounded at +52.99% per year against +13.38% for XYLD; over five years the annualized figures are +20.66% and +7.59% respectively. Across the full 13-year window we track, SPXL has the edge at +29.87% annualized vs +5.08%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 44.5% compared with 11.1% for XYLD. 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 -76.9% for SPXL and -34.7% for XYLD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPXL charges 0.87% per year while XYLD charges 0.60%. On a $10,000 position that is $87 vs $60 annually, a gap of $27 per year that compounds over a long holding period. On income, SPXL currently yields 0.52% against 10.44% for XYLD.
Holdings Overlap
71.4% of SPXL's money is in holdings XYLD also owns. 99.1% of XYLD's money is in holdings SPXL also owns.
Most of XYLD is already inside SPXL. Owning both mostly buys the same companies twice.
486 positions in common, counted across the 506 positions we hold weights for in SPXL and 496 in XYLD, against full books of 1,030 and 1,014.
What only one of them owns
Our book lists 9 positions for XYLD that do not appear in our book for SPXL (2.2% of the fund), and 18 for SPXL that do not appear in XYLD (25.8%).
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 XYLD | Difference |
|---|---|---|---|
| NVDANvidia Corp | 5.70% | 8.64% | 2.94% |
| AAPLApple, Inc | 5.45% | 7.44% | 1.99% |
| MSFTMicrosoft Corp | 4.19% | 5.87% | 1.68% |
| AMZNAmazon.Com Inc | 2.77% | 3.77% | 1.00% |
| GOOGLAlphabet Inc | 2.28% | 3.07% | 0.79% |
| AVGOBroadcom Inc | 1.82% | 2.58% | 0.76% |
| GOOGAlphabet Inc. C | 1.82% | 2.46% | 0.64% |
| METAMeta Platforms Inc | 1.63% | 2.46% | 0.83% |
| MUMicron Technology, Inc. | 1.16% | 1.86% | 0.70% |
| TSLATesla Inc | 1.13% | 1.60% | 0.47% |
99.1% of XYLD 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 XYLD?
SPXL has an expense ratio of 0.87% while XYLD charges 0.60%. XYLD is the cheaper option, by $27 a year on a $10,000 investment.
Which performed better, SPXL or XYLD?
Over the past year SPXL returned +39.94% vs +18.43% for XYLD, so SPXL leads on 1-year performance. Over the longest common window we track (13 years), SPXL annualized +29.87% vs +5.08% for XYLD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPXL or XYLD?
SPXL has been the more volatile fund at 44.5% annualized versus 11.1% for XYLD. Worst drawdown: SPXL -76.9% vs XYLD -34.7%.
Should I hold both SPXL and XYLD?
SPXL and XYLD have a monthly-return correlation of 0.89, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPXL and XYLD?
99.1% of XYLD's money is in holdings SPXL also owns. 99.1% of XYLD's is in holdings SPXL also owns. They hold 486 positions in common, counted across the 506 positions we hold weights for in SPXL and 496 in XYLD.
Which pays a higher dividend, SPXL or XYLD?
SPXL yields 0.52% while XYLD yields 10.44%, so XYLD currently pays the higher dividend yield.
Is XYLD better than SPXL?
XYLD has a lower expense ratio. SPXL led over 1Y, 3Y, 5Y and the full window. XYLD is less concentrated, with 39.8% 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.