IVV vs SPXL
iShares Core S&P 500 ETF vs Direxion Daily S&P 500 Bull 3X ETF
Quick Verdict
IVV has a lower expense ratio. SPXL delivered stronger 1-year returns. SPXL offers more diversification with 515 holdings.
Side-by-Side Comparison
| Metric | IVV | SPXL | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.84% | |
| AUM | $907.0B | $7.3B | |
| Dividend Yield | 1.10% | 0.53% | |
| Holdings | 508 | 515 | |
| YTD Return | +12.71% | +29.88% | |
| 1Y Return | +21.89% | +55.73% | |
| 3Y Return (annualized) | +22.08% | +51.23% | |
| 5Y Return (annualized) | +12.96% | +19.81% | |
| Volatility (annualized) | 15.1% | 46.1% | |
| Max Drawdown | -56.5% | -76.9% | |
| Fund Family | iShares by BlackRock (US) | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Nov 5, 2008 |
IVV vs SPXL Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Direxion Daily S&P 500 Bull 3X ETF (SPXL) is a ETF from Direxion Shares ETF Trust. Over the past year IVV returned +21.89% while SPXL returned +55.73%. Year to date, IVV is up 12.71% versus a gain of 29.88% for SPXL.
Over three years, IVV compounded at +22.08% per year against +51.23% for SPXL; over five years the annualized figures are +12.96% and +19.81% respectively. Across the full 18-year window we track, SPXL has the edge at +28.69% annualized vs +7.00%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 46.1% compared with 15.1% 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 -56.5% for IVV and -76.9% for SPXL. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
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 1.10% against 0.53% for SPXL.
Holdings Overlap
IVV and SPXL share 496 holdings out of 515 unique holdings combined, representing a 71.9% weight overlap.
High overlap means holding both may not provide much additional diversification.
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. On a $10,000 investment, that is $81 per year of difference.
Which performed better, IVV or SPXL?
Over the past year IVV returned +21.89% vs +55.73% for SPXL, so SPXL leads on 1-year performance. Over the longest common window we track (18 years), IVV annualized +7.00% vs +28.69% for SPXL. Past performance does not guarantee future results.
Which is riskier, IVV or SPXL?
SPXL has been the more volatile fund at 46.1% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% 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. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between IVV and SPXL?
IVV and SPXL share 496 common holdings with a 71.9% weight overlap. Combined, they hold 515 unique securities.
Which pays a higher dividend, IVV or SPXL?
IVV yields 1.10% while SPXL yields 0.53%, so IVV currently pays the higher dividend yield.
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