DFEN vs SPY
Comparison between DIREXION DAILY AEROSPACE & DEFENSE BULL 3X SHARES (DFEN, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceDFEN has outperformed SPY, delivering a return of +28.0% compared to +13.3%
DFEN vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
DFEN
$366M
Winner
SPY
$735B
Expense Ratio
DFEN
N/A
SPY
0.09%
Max Drawdown
DFEN
91.36%
Winner
SPY
56.47%
Sharpe Ratio
DFEN
1.06
Winner
SPY
1.62
5Y Beta
DFEN
2.66
Winner
SPY
1.00
P/E Ratio
DFEN
52.28
Winner
SPY
28.99
Forward P/E
DFEN
32.34
Winner
SPY
22.37
5Y Dividends CAGR
Winner
DFEN
127.25%
SPY
5.43%
5Y EPS CAGR
DFEN
N/A
SPY
26.05%
Debt to Equity
DFEN
110.42%
Winner
SPY
32.40%
P/S Ratio
Winner
DFEN
3.49
SPY
3.74
P/B Ratio
DFEN
6.99
Winner
SPY
5.61
DFEN vs SPY - Holdings Comparison
DFEN and SPY have 13 common holdings. Overlap is 0.41%
DFEN's top 25 holdings weight is 103.04%. SPY's top 25 holdings weight is 52.37%.
| Rank | DFEN | SPY |
|---|---|---|
| #1 | DREYFUS GOVT CASH MAN INS (n/a) - 23.30% | NVIDIA CORP (NVDA) - 8.10% |
| #2 | GE AEROSPACE (GE) - 12.65% | APPLE INC (AAPL) - 7.02% |
| #3 | RTX CORP (RTX) - 9.21% | MICROSOFT CORP (MSFT) - 4.79% |
| #4 | DOW JONES U.S SELECT AERO DEF INDEX SWAP (n/a) - 7.48% | AMAZON.COM INC (AMZN) - 4.02% |
| #5 | AEROSPACE & DEFENSE BULL 3X (n/a) - 7.14% | ALPHABET INC CLASS A (GOOGL) - 3.51% |
| #6 | BOEING CO (BA) - 5.88% | BROADCOM INC (AVGO) - 3.10% |
| #7 | GOLDMAN SACHS FIN GOV 465 INSTITUT (n/a) - 3.86% | ALPHABET INC CLASS C (GOOG) - 2.79% |
| #8 | ROCKET LAB CORP (RKLB) - 3.41% | META PLATFORMS INC CLASS A (META) - 2.08% |
| #9 | GOLDMAN FINL SQ TRSRY INST 506 (n/a) - 3.15% | TESLA INC (TSLA) - 1.89% |
| #10 | HOWMET AEROSPACE INC (HWM) - 3.07% | MICRON TECHNOLOGY INC (MU) - 1.56% |
| #11 | GENERAL DYNAMICS CORP (GD) - 2.87% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37% |
| #12 | TRANSDIGM GROUP INC (TDG) - 2.87% | ELI LILLY AND CO (LLY) - 1.31% |
| #13 | L3HARRIS TECHNOLOGIES INC (LHX) - 2.54% | JPMORGAN CHASE & CO (JPM) - 1.28% |
| #14 | LOCKHEED MARTIN CORP (LMT) - 2.42% | ADVANCED MICRO DEVICES INC (AMD) - 1.27% |
| #15 | NORTHROP GRUMMAN CORP (NOC) - 2.24% | EXXON MOBIL CORP (XOM) - 0.97% |
| #16 | AXON ENTERPRISE INC (AXON) - 1.54% | INTEL CORP (INTC) - 0.90% |
| #17 | CURTISS-WRIGHT CORP (CW) - 1.40% | JOHNSON & JOHNSON (JNJ) - 0.86% |
| #18 | FTAI AVIATION LTD (FTAI) - 1.31% | VISA INC CLASS A (V) - 0.85% |
| #19 | ATI INC (ATI) - 1.16% | WALMART INC (WMT) - 0.81% |
| #20 | CARPENTER TECHNOLOGY CORP (CRS) - 1.14% | CISCO SYSTEMS INC (CSCO) - 0.72% |
| #21 | WOODWARD INC (WWD) - 1.09% | COSTCO WHOLESALE CORP (COST) - 0.69% |
| #22 | BWX TECHNOLOGIES INC (BWXT) - 0.95% | CATERPILLAR INC (CAT) - 0.66% |
| #23 | HEICO CORP CLASS A (HEI-A) - 0.90% | MASTERCARD INC CLASS A (MA) - 0.62% |
| #24 | TEXTRON INC (TXT) - 0.82% | LAM RESEARCH CORP (LRCX) - 0.62% |
| #25 | HUNTINGTON INGALLS INDUSTRIES INC (HII) - 0.64% | ABBVIE INC (ABBV) - 0.58% |
| Total Holdings | 51 | 505 |
DFEN vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
DFEN
+17.49%
SPY
+1.90%
3M
DFEN
-19.45%
Winner
SPY
+8.55%
6M
Winner
DFEN
+26.64%
SPY
+8.18%
1Y
Winner
DFEN
+65.73%
SPY
+25.79%
5Y(CAGR)
Winner
DFEN
+27.97%
SPY
+13.32%
10Y(CAGR)
Winner
DFEN
+15.76%
SPY
+15.19%
Max(CAGR)
Winner
DFEN
+15.76%
SPY
+8.47%
DFEN vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | DFEN | SPY |
|---|---|---|
| 2026 | -1.99% | +8.26% |
| 2025 | +158.50% | +18.00% |
| 2024 | +31.54% | +25.59% |
| 2023 | +25.88% | +26.72% |
| 2022 | +4.26% | -18.64% |
| 2021 | +29.03% | +30.52% |
| 2020 | -72.31% | +17.28% |
| 2019 | +92.37% | +31.09% |
| 2018 | -32.87% | -5.24% |
| 2017 | +83.60% | +20.78% |
| 2016 | N/A | +13.59% |
| 2015 | N/A | +1.31% |
| 2014 | N/A | +14.56% |
| 2013 | N/A | +29.00% |
| 2012 | N/A | +14.17% |
| 2011 | N/A | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
DFEN vs SPY Drawdown Comparison
The maximum drawdown for DFEN was -91.36%, occurring on Mar 23, 2020. Recovery took 1372 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current DFEN drawdown is -29.26%. The current SPY drawdown is -2.90%.
| Rank | DFEN | SPY |
|---|---|---|
| #1 | -91.36% Feb 12, 2020 - Jul 30, 2025 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -61.07% Oct 3, 2018 - Sep 16, 2019 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -41.75% Mar 2, 2026 - Mar 30, 2026 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -26.58% Oct 27, 2025 - Jan 2, 2026 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -25.73% Jan 29, 2018 - Sep 6, 2018 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -21.82% Jan 16, 2026 - Mar 2, 2026 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -19.97% Sep 18, 2019 - Nov 15, 2019 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -13.84% Nov 15, 2019 - Jan 16, 2020 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -12.77% Oct 8, 2025 - Oct 24, 2025 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -10.68% Oct 20, 2017 - Nov 30, 2017 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -8.98% Jul 30, 2025 - Aug 26, 2025 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -8.12% Jan 16, 2020 - Feb 5, 2020 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -8.00% Jun 2, 2017 - Jul 5, 2017 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -6.78% Nov 30, 2017 - Dec 15, 2017 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -6.65% May 5, 2017 - May 22, 2017 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between DFEN and SPY is 0.43 which considered as a weak positive correlation - the stocks show a slight tendency to move together.
0.43
-101
Dividend Comparison (1999 - 2026)
DFEN vs SPY dividend yield comparison.
| Year | DFEN | SPY |
|---|---|---|
| 2026 | 0.06% | 0.24% |
| 2025 | 8.89% | 1.07% |
| 2024 | 14.12% | 1.21% |
| 2023 | 1.13% | 1.40% |
| 2022 | 0.46% | 1.65% |
| 2021 | 1.89% | 1.20% |
| 2020 | 0.48% | 1.52% |
| 2019 | 0.50% | 1.75% |
| 2018 | 1.07% | 2.04% |
| 2017 | 1.50% | 1.80% |
| 2016 | 0.00% | 2.03% |
| 2015 | 0.00% | 2.06% |
| 2014 | 0.00% | 1.87% |
| 2013 | 0.00% | 1.81% |
| 2012 | 0.00% | 2.18% |
| 2011 | 0.00% | 2.05% |
| 2010 | 0.00% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 0.00% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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