SPDN vs SPXS
Direxion Daily S&P 500 Bear 1X ETF vs Direxion Daily S&P 500 Bear 3X ETF
Which is better, SPDN or SPXS?
Nearly the same fund. SPDN costs less.
SPDN has a lower expense ratio. SPDN led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.98.
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 | SPDN | SPXS |
|---|---|---|
| Expense Ratio | 0.48%Best | 1.04% |
| AUM | $261M | $336M |
| Dividend Yield | 3.39% | 3.43% |
| Holdings | 10 | 22 |
| YTD Return | -9.15%Best | -31.52% |
| 1Y Return | -10.70%Best | -36.83% |
| 3Y Return (annualized) | -13.99%Best | -44.52% |
| 5Y Return (annualized) | -8.71%Best | -34.39% |
| Volatility (annualized) | 14.4%Best | 41.8% |
| Max Drawdown | -76.8% | - |
| $10,000 over 5 years | $6,340Best | $1,216 |
| Fund Family | Direxion Shares ETF Trust | Direxion Shares ETF Trust |
| Category | Alternative | Alternative |
| Style | Trading-Inverse Equity | Trading-Inverse Equity |
| Inception | Jun 8, 2016 | Nov 5, 2008 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 8, 2016 to Oct 12, 2026 (10.3 years).
SPDN vs SPXS 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 10.3 years both funds cover.
SPDN vs SPXS Performance
Direxion Daily S&P 500 Bear 1X ETF (SPDN) is an ETF from Direxion Shares ETF Trust and Direxion Daily S&P 500 Bear 3X ETF (SPXS) is an ETF from Direxion Shares ETF Trust. Over the past year SPDN returned -10.70% while SPXS returned -36.83%. Year to date, SPDN is down 9.15% versus a loss of 31.52% for SPXS.
Over three years, SPDN compounded at -13.99% per year against -44.52% for SPXS; over five years the annualized figures are -8.71% and -34.39% respectively. Across the full 10-year window we track, SPDN has the edge at -12.65% annualized vs -41.45%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXS has been the more volatile fund, with annualized monthly volatility of 41.8% compared with 14.4% for SPDN. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPDN charges 0.48% per year while SPXS charges 1.04%. On a $10,000 position that is $48 vs $104 annually, a gap of $56 per year that compounds over a long holding period. On income, SPDN currently yields 3.39% against 3.43% for SPXS.
Holdings Overlap
We hold position weights for 2 holdings in SPDN and 3 in SPXS, totalling 103.1% and 86.0% 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, 2 positions appear in both.
2 positions in common, counted across the 2 positions we hold weights for in SPDN and 3 in SPXS, against full books of 10 and 22.
You are not choosing between two funds in isolation.
Whichever of SPDN and SPXS 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, SPDN or SPXS?
SPDN has an expense ratio of 0.48% while SPXS charges 1.04%. SPDN is the cheaper option, by $56 a year on a $10,000 investment.
Which performed better, SPDN or SPXS?
Over the past year SPDN returned -10.70% vs -36.83% for SPXS, so SPDN leads on 1-year performance. Over the longest common window we track (10 years), SPDN annualized -12.65% vs -41.45% for SPXS. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPDN or SPXS?
SPXS has been the more volatile fund at 41.8% annualized versus 14.4% for SPDN.
Should I hold both SPDN and SPXS?
SPDN and SPXS have a monthly-return correlation of 0.98, 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.
Which pays a higher dividend, SPDN or SPXS?
SPDN yields 3.39% while SPXS yields 3.43%, so SPXS currently pays the higher dividend yield.
Is SPXS better than SPDN?
SPDN has a lower expense ratio. SPDN led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.98. Which one suits a particular account depends on what it is for. This is information, not a recommendation.