SPDN vs DAX

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

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

SPDN vs DAX - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

SPDN

$229M

Winner

DAX

$229M

Expense Ratio

SPDN

0.48%

Winner

DAX

0.20%

Max Drawdown

SPDN

80.11%

Winner

DAX

48.57%

Sharpe Ratio

SPDN

-1.22

Winner

DAX

0.25

5Y Beta

Winner

SPDN

-0.97

DAX

0.78

5Y Dividends CAGR

SPDN

N/A

DAX

-4.99%

SPDN vs DAX - Historical Returns

Returns include dividend reinvestment.

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

SPDN

-3.18%

Winner

DAX

+7.85%

SPDN

-1.06%

Winner

DAX

+4.82%

SPDN

-7.79%

Winner

DAX

+2.63%

SPDN

-12.32%

Winner

DAX

+8.36%

5Y(CAGR)

SPDN

-7.81%

Winner

DAX

+9.75%

10Y(CAGR)

SPDN

-12.30%

Winner

DAX

+9.32%

Max(CAGR)

SPDN

-12.33%

Winner

DAX

+7.91%

SPDN vs DAX - Annual Returns (2014 - 2026)

Returns include dividend reinvestment.

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

SPDN vs DAX Drawdown Comparison

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

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

The current SPDN drawdown is -75.34%.

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

Correlation

Correlation between SPDN and DAX 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)

SPDN vs DAX dividend yield comparison.

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