SPXL vs VTI
Direxion Daily S&P 500 Bull 3X ETF vs Vanguard Morningstar Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. SPXL delivered stronger 1-year returns. VTI offers more diversification with 3,543 holdings.
Side-by-Side Comparison
| Metric | SPXL | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 0.84% | 0.03% | |
| AUM | $7.3B | $666.9B | |
| Dividend Yield | 0.53% | 1.07% | |
| Holdings | 515 | 3,543 | |
| YTD Return | +29.88% | +13.14% | |
| 1Y Return | +55.73% | +22.35% | |
| 3Y Return (annualized) | +51.23% | +21.83% | |
| 5Y Return (annualized) | +19.81% | +12.01% | |
| Volatility (annualized) | 46.1% | 15.3% | |
| Max Drawdown | -76.9% | -56.6% | |
| Fund Family | Direxion Shares ETF Trust | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Nov 5, 2008 | May 24, 2001 |
SPXL vs VTI Performance
Direxion Daily S&P 500 Bull 3X ETF (SPXL) is a ETF from Direxion Shares ETF Trust and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year SPXL returned +55.73% while VTI returned +22.35%. Year to date, SPXL is up 29.88% versus a gain of 13.14% for VTI.
Over three years, SPXL compounded at +51.23% per year against +21.83% for VTI; over five years the annualized figures are +19.81% and +12.01% respectively. Across the full 18-year window we track, SPXL has the edge at +28.69% annualized vs +8.09%. 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 15.3% for VTI. 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 -56.6% for VTI. 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
SPXL charges 0.84% per year while VTI charges 0.03%. On a $10,000 position that is $84 vs $3 annually, a gap of $81 per year that compounds over a long holding period. On income, SPXL currently yields 0.53% against 1.07% for VTI.
Holdings Overlap
SPXL and VTI share 465 holdings out of 2828 unique holdings combined, representing a 72.1% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, SPXL or VTI?
SPXL has an expense ratio of 0.84% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $81 per year of difference.
Which performed better, SPXL or VTI?
Over the past year SPXL returned +55.73% vs +22.35% for VTI, so SPXL leads on 1-year performance. Over the longest common window we track (18 years), SPXL annualized +28.69% vs +8.09% for VTI. Past performance does not guarantee future results.
Which is riskier, SPXL or VTI?
SPXL has been the more volatile fund at 46.1% annualized versus 15.3% for VTI. Worst drawdown: SPXL -76.9% vs VTI -56.6%.
Should I hold both SPXL and VTI?
SPXL and VTI 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 SPXL and VTI?
SPXL and VTI share 465 common holdings with a 72.1% weight overlap. Combined, they hold 2828 unique securities.
Which pays a higher dividend, SPXL or VTI?
SPXL yields 0.53% while VTI yields 1.07%, so VTI currently pays the higher dividend yield.
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