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Launched · SEC filings

Direxion Daily S&P 500 Bull 2X ETF

SPUUNYSE ArcaDirexionBThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$214.72−2.24 (−1.03%)

At close: Nov 2, 2026, 4:00 PM ET

B63/ 100

Rank 2 of 9 in 2x/3x Long S&P 500

B63/100Rank 2 of 9in2x/3x Long S&P 500
Intraday session: down, 79 prints from 216.96 to 214.72. Range 214.57 to 220.90. Use the arrow keys to read each point.216.00218.00219.00220.00221.0010 AM12 PM2 PM4 PM
Expense ratio
0.60%*
Fund size
$300M
1Y total return
+17.5%
Yield · Last 12 months
1.34%
Holdings
509
Avg volume · 30D
18.4K sh
52W range
low $136.30high $232.69
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Sep 1, 2027. Without it: 0.66%.

The ETF.net SPUU Grade

Based on 4 of 6 pillars

B

Score 63 out of 100

Category
2x/3x Long S&P 500⁠
Rank
2 of 9
Six-pillar profile for SPUU. Scores out of 100: Cost 74, Risk 63, Mission not scored, Tradability 44, Holdings not scored, Durability 62. Strongest: Cost (74). Weakest: Tradability (44). Based on 4 of 6 pillars.

Score 63 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A74 out of 100
    Rank 3 of 9

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B63 out of 100
    Rank 3 of 9

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C44 out of 100
    Rank 6 of 9

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B62 out of 100
    Rank 4 of 9

Our read on SPUU

ETF.net Research

In short

BTwo times the daily move of the S&P 500, for 0.60% net of a waiver through September 1, 2027: the lowest fee on the S&P 500 bull-leverage shelf. The trade-off is a quieter ticker than the category's household name.

Stated mandate

The fund seeks daily investment results, before fees and expenses, equal to 200% of the performance of the S&P 500® Index.

Why people hold it

  • 0.60% net of a waiver through September 1, 2027 (0.66% gross) undercuts the category median and rival SSO, at 0.84% net of its own waiver through September 30, 2027.
  • Aims for 200% of the S&P 500's daily move, reset every day, built on roughly 500 large-cap stocks plus swaps. No guesswork about the exposure.direxion.com
  • Listed in 2014, making it one of the longer-running 2x S&P 500 funds, and it rates among the stronger builds in a small peer group.direxion.com

Worth knowing

  • The daily reset is the whole story: over stretches longer than a day, results can drift from 2x the index's cumulative move, and choppy markets widen that gap.direxion.com
  • Thinly traded next to the biggest names in the aisle, which can show up as wider bid-ask spreads.
  • Leverage is symmetric. A 1% down day in the S&P 500 lands as roughly 2% here, before fees.

SPUU Performance

Launched May 28, 2014

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

SPUU$11,750
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. SPUU $11,750. SPY $11,199. Use the arrow keys to read each point.$9,000$10,000$11,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SPUU. Periods over one year show the average yearly return.
PeriodSPUU
Year to date+18.4%
1 month−2.1%
3 months+1.4%
1 year+17.5%
3 yearsper year+40.5%
5 yearsper year+15.9%
10 yearsper year+24.2%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SPUU
YearReturn barSPUU
2026 YTD+18.4%
2025+26.5%
2024+44.2%
2023+47.3%
2022−38.7%
2021+61.3%
2020+21.9%

SPUU in the news

SPUU Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
1.34%Last 12 months
Payout per share
$2.90Last 12 months
Last payment
$0.26 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 31 payments from 2017 to 2026 YTD. Jun 20, 2017 $2.94; Sep 19, 2017 $0.08; Dec 19, 2017 $0.43; Jun 19, 2018 $0.22; Sep 25, 2018 $1.59; Dec 27, 2018 $0.42; Mar 19, 2019 $0.04; Jun 25, 2019 $0.47; Dec 23, 2019 $0.49; Jun 23, 2020 $0.27; Dec 10, 2020 $5.36; Dec 22, 2020 $0.36; Jun 22, 2021 $0.33; Dec 9, 2021 $2.27; Dec 21, 2021 $0.94; Dec 20, 2022 $0.62; Jun 21, 2023 $0.35; Sep 19, 2023 $0.19; Dec 21, 2023 $0.31; Mar 19, 2024 $0.28; Jun 25, 2024 $0.31; Sep 24, 2024 $0.11; Dec 23, 2024 $0.11; Mar 25, 2025 $0.37; Jun 24, 2025 $0.38; Sep 23, 2025 $0.24; Dec 10, 2025 $1.91; Dec 23, 2025 $0.10; Mar 24, 2026 $0.32; Jun 23, 2026 $0.31; Sep 22, 2026 $0.26. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.26
Jun 23, 2026Jun 30, 2026$0.31
Mar 24, 2026Mar 31, 2026$0.32
Dec 23, 2025Dec 31, 2025$0.10
Dec 10, 2025Dec 17, 2025$1.91
Sep 23, 2025Sep 30, 2025$0.24
Jun 24, 2025Jul 1, 2025$0.38
Mar 25, 2025Apr 1, 2025$0.37
Dec 23, 2024Dec 31, 2024$0.11
Sep 24, 2024Oct 1, 2024$0.11
Jun 25, 2024Jul 2, 2024$0.31
Mar 19, 2024Mar 26, 2024$0.28

See all 32 payments⁠

$10,000 in SPUU 10 years ago paid $7,300 in dividends.⁠

SPUU Risk

Risk pillarB63 out of 100Rank 3 of 9 in 2x/3x Long S&P 500

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
25.1%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.32
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−46.6%
Trough Oct 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
2.01
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

SPUU Cost

Compare SPUU and USLX

Overpaying vs USLX, cheapest in 2x/3x Long S&P 500

$7,662

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SPUU 0.60%

    $11,817

  • USLX 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • SPUU 0.60%
  • USLX 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530SPUU $11,817USLX $4,155

Year by year

YearSPUUUSLXOverpaying
10$1,076$365$711
20$4,116$1,421$2,695
30$11,817$4,155$7,662
How the 0.60% is worked out

Full fee 0.66%− waiver 0.06%= you pay 0.60%

The waiver ends Sep 1, 2027. After that the fee is 0.66% unless Direxion renews it. Source: prospectus, Mar 2026.

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