IVV vs SPXL
iShares Core S&P 500 ETF vs Direxion Daily S&P 500 Bull 3X ETF
Which is better, IVV or SPXL?
Large Cap Blend against Multi Alternative.
IVV 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.
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 | IVV | SPXL |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.84% |
| AUM | $876.4B | $6.8B |
| Dividend Yield | 1.06% | 0.50% |
| Holdings | 508 | 515 |
| YTD Return | +12.51% | +28.20%Best |
| 1Y Return | +17.57% | +39.83%Best |
| 3Y Return (annualized) | +21.27% | +48.36%Best |
| 5Y Return (annualized) | +12.95% | +19.63%Best |
| Volatility (annualized) | 14.9%Best | 46.0% |
| Max Drawdown | -33.9%Best | -76.9% |
| $10,000 over 5 years | $18,384 | $24,502Best |
| Fund Family | iShares by BlackRock (US) | Direxion Shares ETF Trust |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Multi Alternative |
| Inception | May 15, 2000 | Nov 5, 2008 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 5, 2008 to Sep 11, 2026 (17.8 years).
IVV 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 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.
IVV vs SPXL Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and Direxion Daily S&P 500 Bull 3X ETF (SPXL) is an ETF from Direxion Shares ETF Trust. Over the past year IVV returned +17.57% while SPXL returned +39.83%. Year to date, IVV is up 12.51% versus a gain of 28.20% for SPXL.
Over three years, IVV compounded at +21.27% per year against +48.36% for SPXL; over five years the annualized figures are +12.95% and +19.63% respectively. Across the full 18-year window we track, SPXL has the edge at +28.49% annualized vs +12.85%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 46.0% compared with 14.9% for IVV. 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 -33.9% for IVV 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
IVV charges 0.03% per year while SPXL charges 0.84%. On a $10,000 position that is $3 vs $84 annually, a gap of $81 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 0.50% for SPXL.
Holdings Overlap
At least 97.8% of IVV's money is in holdings SPXL also owns.
Stated as a floor: for SPXL, our book for it covers 92.5% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
Most of IVV is already inside SPXL. Owning both mostly buys the same companies twice.
497 positions in common, counted across the 505 positions we hold weights for in IVV and 507 in SPXL, against full books of 508 and 515.
Top Shared Holdings
| Stock | Weight in IVV | Weight in SPXL | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.98% | 5.40% | 2.58% |
| AAPLApple, Inc | 6.86% | 4.78% | 2.08% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.44% | 3.85% | 1.59% |
| AMZNAmazon.Com Inc | 4.01% | 2.86% | 1.15% |
| GOOGLAlphabet A Usd 0.001 | 3.19% | 2.33% | 0.86% |
| AVGOBroadcom Inc | 2.98% | 2.08% | 0.90% |
| GOOGAlphabet Inc | 2.56% | 1.87% | 0.69% |
| METAMeta Platforms, Inc. | 1.94% | 1.36% | 0.58% |
| MUMicron Technology, Inc. | 1.51% | 1.06% | 0.45% |
| JPMJpmorgan Chase & Co. | 1.45% | 1.01% | 0.44% |
97.8% of IVV 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, IVV or SPXL?
IVV has an expense ratio of 0.03% while SPXL charges 0.84%. IVV is the cheaper option, by $81 a year on a $10,000 investment.
Which performed better, IVV or SPXL?
Over the past year IVV returned +17.57% vs +39.83% for SPXL, so SPXL leads on 1-year performance. Over the longest common window we track (18 years), IVV annualized +12.85% vs +28.49% for SPXL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or SPXL?
SPXL has been the more volatile fund at 46.0% annualized versus 14.9% for IVV. Worst drawdown: IVV -33.9% vs SPXL -76.9%.
Should I hold both IVV and SPXL?
IVV 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 IVV and SPXL?
At least 97.8% of IVV's money is in holdings SPXL also owns. Our book for SPXL is partial, so the real figure is this or higher. They hold 497 positions in common, counted across the 505 positions we hold weights for in IVV and 507 in SPXL.
Which pays a higher dividend, IVV or SPXL?
IVV yields 1.06% while SPXL yields 0.50%, so IVV currently pays the higher dividend yield.
Is SPXL better than IVV?
IVV 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. Which one suits a particular account depends on what it is for. This is information, not a recommendation.