SPXL vs UPRO
Comparison between DIREXION DAILY S&P 500(R) BULL 3X SHARES (SPXL, ETF) and PROSHARES ULTRAPRO S&P500 (UPRO, ETF).
5-Year PerformanceSPXL has outperformed UPRO, delivering a return of +20.4% compared to +20.1%
SPXL vs UPRO - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
Winner
SPXL
$6.90B
UPRO
$5.30B
Max Drawdown
SPXL
76.86%
Winner
UPRO
76.82%
Sharpe Ratio
Winner
SPXL
1.18
UPRO
1.17
5Y Beta
Winner
SPXL
2.89
UPRO
2.90
P/E Ratio
SPXL
28.53
UPRO
N/A
Forward P/E
SPXL
21.49
UPRO
N/A
5Y Dividends CAGR
SPXL
58.17%
Winner
UPRO
115.97%
Debt to Equity
SPXL
26.24%
UPRO
N/A
P/S Ratio
SPXL
3.53
UPRO
N/A
P/B Ratio
SPXL
5.83
UPRO
N/A
SPXL vs UPRO - Holdings Comparison
SPXL and UPRO have 448 common holdings. Overlap is 35.64%
SPXL's top 25 holdings weight is 71.49%. UPRO's top 25 holdings weight is 63.09%.
| Rank | SPXL | UPRO |
|---|---|---|
| #1 | S&P 500 INDEX SWAP (n/a) - 16.27% | PROSHARES GENIUS MONEY MARKET ETF (IQMM) - 23.16% |
| #2 | DREYFUS TRSRY SECURITIES CASH MGMT (n/a) - 13.11% | S&P 500 INDEX SWAP (n/a) - 19.58% |
| #3 | DREYFUS GOVT CASH MAN INS (n/a) - 6.96% | NVIDIA CORP (NVDA) - 3.87% |
| #4 | NVIDIA CORP (NVDA) - 5.61% | APPLE INC (AAPL) - 3.49% |
| #5 | APPLE INC (AAPL) - 5.06% | MICROSOFT CORP (MSFT) - 2.16% |
| #6 | MICROSOFT CORP (MSFT) - 3.13% | AMAZON.COM INC (AMZN) - 1.83% |
| #7 | GOLDMAN FINL SQ TRSRY INST 506 (n/a) - 2.97% | ALPHABET INC CLASS A (GOOGL) - 1.59% |
| #8 | AMAZON.COM INC (AMZN) - 2.65% | BROADCOM INC (AVGO) - 1.39% |
| #9 | JP MORGAN 100 US TRSY CAPITAL 3163 (n/a) - 2.64% | ALPHABET INC CLASS C (GOOG) - 1.27% |
| #10 | ALPHABET INC CLASS A (GOOGL) - 2.31% | META PLATFORMS INC CLASS A (META) - 1.10% |
| #11 | BROADCOM INC (AVGO) - 2.01% | MICRON TECHNOLOGY INC (MU) - 0.84% |
| #12 | CASH (n/a) - 1.93% | TESLA INC (TSLA) - 0.84% |
| #13 | ALPHABET INC CLASS C (GOOG) - 1.85% | CITIGROUP INC (C) - 0.17% |
| #14 | META PLATFORMS INC CLASS A (META) - 1.59% | TRANE TECHNOLOGIES PLC CLASS A (TT) - 0.16% |
| #15 | TESLA INC (TSLA) - 1.22% | ORACLE CORP (ORCL) - 0.16% |
| #16 | ORACLE CORP (ORCL) - 0.24% | CROWDSTRIKE HOLDINGS INC CLASS A (CRWD) - 0.16% |
| #17 | CROWDSTRIKE HOLDINGS INC CLASS A (CRWD) - 0.23% | THERMO FISHER SCIENTIFIC INC (TMO) - 0.15% |
| #18 | THERMO FISHER SCIENTIFIC INC (TMO) - 0.22% | INTERNATIONAL BUSINESS MACHINES CORP (IBM) - 0.15% |
| #19 | SEAGATE TECHNOLOGY HOLDINGS PLC (STX) - 0.22% | WESTERN DIGITAL CORP (WDC) - 0.15% |
| #20 | INTERNATIONAL BUSINESS MACHINES CORP (IBM) - 0.22% | AMPHENOL CORP CLASS A (APH) - 0.15% |
| #21 | MARVELL TECHNOLOGY INC (MRVL) - 0.21% | MARVELL TECHNOLOGY INC (MRVL) - 0.15% |
| #22 | WESTERN DIGITAL CORP (WDC) - 0.21% | SEAGATE TECHNOLOGY HOLDINGS PLC (STX) - 0.15% |
| #23 | AMERICAN EXPRESS CO (AXP) - 0.21% | MCDONALD'S CORP (MCD) - 0.14% |
| #24 | MCDONALD'S CORP (MCD) - 0.21% | NEXTERA ENERGY INC (NEE) - 0.14% |
| #25 | ARISTA NETWORKS INC (ANET) - 0.21% | ARISTA NETWORKS INC (ANET) - 0.14% |
| Total Holdings | 455 | 468 |
SPXL vs UPRO - Historical Returns
Returns include dividend reinvestment.
1M
Winner
SPXL
+0.57%
UPRO
+0.56%
3M
Winner
SPXL
+16.72%
UPRO
+16.49%
6M
Winner
SPXL
+22.55%
UPRO
+22.24%
1Y
Winner
SPXL
+50.27%
UPRO
+49.67%
5Y(CAGR)
Winner
SPXL
+20.45%
UPRO
+20.07%
10Y(CAGR)
Winner
SPXL
+28.61%
UPRO
+28.49%
Max(CAGR)
SPXL
+28.34%
Winner
UPRO
+32.73%
SPXL vs UPRO - Annual Returns (2008 - 2026)
Returns include dividend reinvestment.
| Year | SPXL | UPRO |
|---|---|---|
| 2026 | +22.83% | +22.51% |
| 2025 | +33.02% | +33.00% |
| 2024 | +66.58% | +66.56% |
| 2023 | +71.53% | +70.82% |
| 2022 | -57.31% | -57.58% |
| 2021 | +107.32% | +107.13% |
| 2020 | +6.68% | +7.18% |
| 2019 | +102.65% | +101.91% |
| 2018 | -26.55% | -26.65% |
| 2017 | +67.50% | +67.74% |
| 2016 | +35.96% | +36.68% |
| 2015 | -5.43% | -4.99% |
| 2014 | +41.39% | +42.06% |
| 2013 | +102.91% | +103.37% |
| 2012 | +37.95% | +40.02% |
| 2011 | -17.26% | -14.37% |
| 2010 | +32.94% | +29.81% |
| 2009 | +50.59% | +73.78% |
| 2008 | -28.52% | N/A |
SPXL vs UPRO Drawdown Comparison
The maximum drawdown for SPXL was -76.86%, occurring on Mar 23, 2020. Recovery took 225 trading sessions.
The maximum drawdown for UPRO was -76.82%, occurring on Mar 23, 2020. Recovery took 225 trading sessions.
The current SPXL drawdown is -5.71%. The current UPRO drawdown is -5.74%.
| Rank | SPXL | UPRO |
|---|---|---|
| #1 | -76.86% Feb 19, 2020 - Jan 8, 2021 | -76.82% Feb 19, 2020 - Jan 8, 2021 |
| #2 | -71.32% Nov 5, 2008 - Sep 15, 2009 | -63.94% Jan 3, 2022 - Jun 17, 2024 |
| #3 | -63.80% Jan 3, 2022 - Jun 12, 2024 | -51.73% Apr 29, 2011 - Apr 2, 2012 |
| #4 | -53.81% Apr 29, 2011 - Sep 13, 2012 | -50.28% Sep 20, 2018 - Jul 12, 2019 |
| #5 | -50.17% Sep 20, 2018 - Jul 12, 2019 | -48.86% Feb 19, 2025 - Jul 25, 2025 |
| #6 | -48.95% Dec 6, 2024 - Jul 25, 2025 | -42.88% Apr 23, 2010 - Dec 10, 2010 |
| #7 | -43.44% Apr 23, 2010 - Dec 10, 2010 | -39.29% May 21, 2015 - Jul 18, 2016 |
| #8 | -39.56% May 21, 2015 - Jul 20, 2016 | -29.34% Jan 26, 2018 - Aug 29, 2018 |
| #9 | -29.48% Jan 26, 2018 - Sep 20, 2018 | -27.26% Apr 2, 2012 - Sep 6, 2012 |
| #10 | -26.77% Jan 12, 2026 - Apr 17, 2026 | -26.79% Jan 12, 2026 - Apr 17, 2026 |
| #11 | -24.36% Jul 16, 2024 - Sep 26, 2024 | -24.41% Jul 16, 2024 - Sep 24, 2024 |
| #12 | -22.79% Jan 19, 2010 - Mar 11, 2010 | -22.72% Jan 19, 2010 - Mar 16, 2010 |
| #13 | -21.42% Sep 14, 2012 - Jan 10, 2013 | -21.27% Sep 14, 2012 - Jan 4, 2013 |
| #14 | -21.05% Sep 18, 2014 - Nov 3, 2014 | -21.05% Sep 18, 2014 - Nov 3, 2014 |
| #15 | -17.96% Jul 26, 2019 - Nov 1, 2019 | -18.18% Feb 18, 2011 - Apr 26, 2011 |
Correlation
Correlation between SPXL and UPRO is 1.00 which considered as a very strong positive correlation - the stocks move almost identically together.
1.00
-101
Dividend Comparison (2008 - 2026)
SPXL vs UPRO dividend yield comparison.
| Year | SPXL | UPRO |
|---|---|---|
| 2026 | 0.36% | 0.37% |
| 2025 | 0.69% | 0.84% |
| 2024 | 0.74% | 0.93% |
| 2023 | 0.98% | 0.74% |
| 2022 | 0.32% | 0.52% |
| 2021 | 0.11% | 0.06% |
| 2020 | 0.22% | 0.11% |
| 2019 | 0.84% | 0.41% |
| 2018 | 1.02% | 0.63% |
| 2017 | 3.88% | 0.00% |
| 2016 | 0.00% | 0.12% |
| 2015 | 0.00% | 0.34% |
| 2014 | 0.00% | 0.22% |
| 2013 | 0.00% | 0.07% |
| 2012 | 0.00% | 0.05% |
| 2011 | 0.00% | 0.06% |
| 2010 | 2.17% | 0.18% |
| 2009 | 13.15% | 0.11% |
| 2008 | 0.18% | 0.00% |
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