METD vs SPXL
Direxion Daily META Bear 1X ETF vs Direxion Daily S&P 500 Bull 3X ETF
Which is better, METD or SPXL?
Opposite sides of the same exposure.
SPXL has a lower expense ratio. SPXL led over 1Y and the full window. The two move opposite each other, correlation -0.51, so holding both offsets the exposure while paying both fees.
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 | METD | SPXL |
|---|---|---|
| Expense Ratio | 1.02% | 0.84%Best |
| AUM | $10M | $5.9B |
| Dividend Yield | 2.40% | 0.54% |
| Holdings | 16 | 1,040 |
| YTD Return | -7.69% | +23.01%Best |
| 1Y Return | -10.73% | +21.72%Best |
| 3Y Return (annualized) | - | +49.42% |
| 5Y Return (annualized) | - | +16.00% |
| Volatility (annualized) | 33.7%Best | 36.7% |
| Max Drawdown | -50.6% | -49.0%Best |
| $10,000 over 2.4 years | $6,560 | $19,712Best |
| Fund Family | Direxion Shares ETF Trust | Direxion Shares ETF Trust |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Jun 5, 2024 | Nov 5, 2008 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.4 years row, are measured over the window both funds cover: Jun 5, 2024 to Nov 11, 2026 (2.4 years).
METD 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 covers the 2.4 years both funds cover.
METD vs SPXL Performance
Direxion Daily META Bear 1X ETF (METD) is an ETF from Direxion Shares ETF Trust and Direxion Daily S&P 500 Bull 3X ETF (SPXL) is an ETF from Direxion Shares ETF Trust. Over the past year METD returned -10.73% while SPXL returned +21.72%. Year to date, METD is down 7.69% versus a gain of 23.01% for SPXL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 36.7% compared with 33.7% for METD. 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 -50.6% for METD and -49.0% 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 -0.51. They move opposite each other. Holding both offsets the exposure rather than spreading it, while paying both funds' fees.
Fees and Cost Over Time
METD charges 1.02% per year while SPXL charges 0.84%. On a $10,000 position that is $102 vs $84 annually, a gap of $18 per year that compounds over a long holding period. On income, METD currently yields 2.40% against 0.54% for SPXL.
Holdings Overlap
We hold position weights for 1 holding in METD and 505 in SPXL, totalling 8.9% and 81.8% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 1 positions appear in both.
1 positions in common, counted across the 1 positions we hold weights for in METD and 505 in SPXL, against full books of 16 and 1,040.
Top Shared Holdings
| Stock | Weight in METD | Weight in SPXL | Difference |
|---|---|---|---|
| DIRXXDreyfus Trsy Prime Cash Mgmt - In 0.0 30-December-2049 | 8.94% | 11.45% | 2.51% |
You are not choosing between two funds in isolation.
Whichever of METD and SPXL 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, METD or SPXL?
METD has an expense ratio of 1.02% while SPXL charges 0.84%. SPXL is the cheaper option, by $18 a year on a $10,000 investment.
Which performed better, METD or SPXL?
Over the past year METD returned -10.73% vs +21.72% for SPXL, so SPXL leads on 1-year performance. Over the longest common window we track (2 years), METD annualized -16.11% vs +32.68% for SPXL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, METD or SPXL?
SPXL has been the more volatile fund at 36.7% annualized versus 33.7% for METD. Worst drawdown: METD -50.6% vs SPXL -49.0%.
Should I hold both METD and SPXL?
METD and SPXL have a monthly-return correlation of -0.51, so they move opposite each other. Holding both offsets the exposure rather than spreading it, and pays both funds' fees on the way. This is information, not a recommendation.
Which pays a higher dividend, METD or SPXL?
METD yields 2.40% while SPXL yields 0.54%, so METD currently pays the higher dividend yield.
Is SPXL better than METD?
SPXL has a lower expense ratio. SPXL led over 1Y and the full window. The two move opposite each other, correlation -0.51, so holding both offsets the exposure while paying both fees. Which one suits a particular account depends on what it is for. This is information, not a recommendation.