DAX vs SPDN

Comparison between GLOBAL X DAX GERMANY ETF (DAX, ETF) and DIREXION DAILY S&P 500 (R) BEAR 1X SHARES (SPDN, ETF).

5-Year PerformanceDAX has outperformed SPDN, delivering a return of +9.8% compared to -7.8%

DAX vs SPDN - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	DAX(ETF)	SPDN(ETF)
Net Assets	$229M	$229M
Expense Ratio	0.20%	0.48%
Max Drawdown	48.57%	80.11%
Sharpe Ratio	0.25	-1.22
5Y Beta	0.78	-0.97
5Y Dividends CAGR	-4.99%	N/A

Net Assets

Winner

DAX

$229M

SPDN

$229M

Expense Ratio

Winner

DAX

0.20%

SPDN

0.48%

Max Drawdown

Winner

DAX

48.57%

SPDN

80.11%

Sharpe Ratio

Winner

DAX

0.25

SPDN

-1.22

5Y Beta

DAX

0.78

Winner

SPDN

-0.97

5Y Dividends CAGR

DAX

-4.99%

SPDN

N/A

DAX vs SPDN - Historical Returns

Returns include dividend reinvestment.

Period	DAX	SPDN
1 month	+7.85%	-3.18%
3 months	+4.82%	-1.06%
6 months	+2.63%	-7.79%
1 year	+8.36%	-12.32%
5 years(CAGR)	+9.75%	-7.81%
10 years(CAGR)	+9.32%	-12.30%
Max(CAGR)	+7.91%	-12.33%

Winner

DAX

+7.85%

SPDN

-3.18%

Winner

DAX

+4.82%

SPDN

-1.06%

Winner

DAX

+2.63%

SPDN

-7.79%

Winner

DAX

+8.36%

SPDN

-12.32%

5Y(CAGR)

Winner

DAX

+9.75%

SPDN

-7.81%

10Y(CAGR)

Winner

DAX

+9.32%

SPDN

-12.30%

Max(CAGR)

Winner

DAX

+7.91%

SPDN

-12.33%

DAX vs SPDN - Annual Returns (2014 - 2026)

Returns include dividend reinvestment.

Year	DAX	SPDN
2026	+5.89%	-8.47%
2025	+39.76%	-11.32%
2024	+11.66%	-13.44%
2023	+22.59%	-15.40%
2022	-18.78%	+19.39%
2021	+7.01%	-24.71%
2020	+10.69%	-23.87%
2019	+22.46%	-21.99%
2018	-22.62%	+6.21%
2017	+28.23%	-16.49%
2016	+6.53%	-6.92%
2015	-3.62%	N/A
2014	+3.62%	N/A

DAX vs SPDN Drawdown Comparison

The maximum drawdown for DAX was -45.59%, occurring on Mar 18, 2020. Recovery took 737 trading sessions.

The maximum drawdown for SPDN was -75.72%, occurring on Aug 13, 2026. This drawdown has not yet recovered.

The current SPDN drawdown is -75.34%.

Rank	DAX	SPDN
#1	-45.59% Jan 24, 2018 - Dec 28, 2020	-75.72% Jun 27, 2016 - Aug 13, 2026
#2	-39.93% Jun 7, 2021 - Mar 7, 2024	-2.37% Jun 16, 2016 - Jun 24, 2016
#3	-24.76% Apr 6, 2015 - Apr 24, 2017	N/A
#4	-16.03% Mar 18, 2025 - Apr 29, 2025	N/A
#5	-14.82% Jan 27, 2026 - Aug 4, 2026	N/A
#6	-9.10% Dec 1, 2014 - Feb 3, 2015	N/A
#7	-8.58% Jul 9, 2025 - Jan 5, 2026	N/A
#8	-8.10% May 15, 2024 - Aug 23, 2024	N/A
#9	-7.43% Sep 27, 2024 - Jan 21, 2025	N/A
#10	-6.23% Mar 27, 2024 - May 9, 2024	N/A
#11	-5.67% Jan 8, 2021 - Mar 10, 2021	N/A
#12	-4.04% Feb 3, 2015 - Feb 20, 2015	N/A
#13	-3.67% Apr 16, 2021 - May 7, 2021	N/A
#14	-3.63% Mar 2, 2015 - Mar 16, 2015	N/A
#15	-3.62% Jun 5, 2025 - Jun 26, 2025	N/A

Correlation

Correlation between DAX and SPDN is -0.74 which considered as a strong negative correlation - the stocks tend to move in opposite directions.

-0.74

-101

Dividend Comparison (2015 - 2026)

DAX vs SPDN dividend yield comparison.

Year	DAX	SPDN
2026	1.80%	1.41%
2025	1.47%	4.06%
2024	2.24%	5.32%
2023	2.48%	5.84%
2022	2.80%	0.96%
2021	2.65%	0.00%
2020	2.25%	0.10%
2019	2.47%	1.89%
2018	3.33%	1.24%
2017	1.73%	0.42%
2016	1.78%	0.00%
2015	1.41%	0.00%