Category Review
Tactical funds ranged from a 32.2% gain to a 12.5% loss
Direxion Daily S&P 500 Bull 2X ETF
BThis 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.
$230.35−0.30 (−0.13%)
- 0.66%
- $296M
- +35.9%
- 1.26%
- 0M sh
- $230.77
- low $154.85high $232.69
The ETF.net SPUU Grade
B
Score 62 out of 100
- 2 of 9
Score 62 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 100Rank 3 of 9Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B61 out of 100Rank 5 of 9Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C41 out of 100Rank 6 of 9Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B62 out of 100Rank 4 of 9
Our read on SPUU
BTwo times the S&P 500's daily move, at one of the lowest fees in the leveraged large-cap aisle. It resets every day, so results over longer stretches depend on the path the index takes, not just where it ends up.
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
- At 0.66%, it undercuts the other leveraged S&P 500 bull funds in its group, including SSO, UPRO and SPXL, each of which charges more.
- Plain vanilla underneath: the S&P 500's roughly 500 large caps, geared 2x daily. No sector tilt, no stock picking, no exotic reference basket.
- 2x is the gentler rung of the ladder next to the 3x versions such as SPXL and UPRO, so each day's swing is smaller for the same index move.
- Trading since 2014 and one of the stronger implementations in its leveraged S&P 500 peer group, with low cost doing much of the work.
Worth knowing
- The 2x target applies to a single day. Hold longer and compounding takes over, so choppy markets can leave you with less than 2x the index's stretch.
- Trades lighter than the biggest names in the leveraged S&P 500 category, which can show up as wider bid-ask spreads at the moment you deal.
- 0.66% is cheap for leverage but many multiples of a plain S&P 500 index fund. Distributions land quarterly, and income is not the point here.
SPUU Holdings
- Stocks
- 509
- 70%
- Spx Swap Asset Leg (Spxgsl)
Sectors
- Technology41.2%
- Financials11.1%
- Communication9.7%
- Health Care9.1%
- Consumer Discretionary8.7%
- Industrials7.3%
- Consumer Staples4.3%
- Energy3.4%
- Utilities1.9%
- Materials1.7%
- Real Estate1.6%
Geography
- United States97.98%
- Ireland1.15%
- United Kingdom0.41%
- Switzerland0.29%
- Netherlands0.09%
- Bermuda0.07%
- Canada0.01%
SPUU Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
SPUU$13,585
Returns run to the Oct 12, 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.
| Period | SPUU |
|---|---|
| Year to date | +25.9% |
| 1 month | +3.8% |
| 3 months | +5.2% |
| 1 year | +35.9% |
| 3 years | +39.8% |
| 5 years | +20.0% |
| 10 years | +24.8% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SPUU |
|---|---|---|
| 2026 YTD | +25.9% | |
| 2025 | +26.5% | |
| 2024 | +44.2% | |
| 2023 | +47.3% | |
| 2022 | −38.7% | |
| 2021 | +61.3% | |
| 2020 | +21.9% |
SPUU in the news
SPUU Dividends
- 1.26%
- $2.90
- $0.26 per share
- Quarterly
Distribution history
SPUU Risk
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.
- 25.4%
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.
- 1.26
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.
- −46.6%
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.
- 2.01
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SPUU Cost
0.66%
SPUU0.66%
- The middle half of 2x/3x Long S&P 500 funds
- Median 0.88%
2 of the 7 2x/3x Long S&P 500 funds charge less.
Other funds in 2x/3x Long S&P 500
- BSSOProShares - Ultra S&P500Expense ratio 0.88%1 year return +35.1%
- CMVPLMiller Value Partners Leverage ETFExpense ratio 0.88%1 year return +31.0%
- CUPROProShares - UltraPro S&P500Expense ratio 0.89%1 year return +50.1%
- CSPXLDirexion Daily S&P 500 Bull 3X SharesExpense ratio 0.95%1 year return +50.7%
- CUSGXCorgi U.S. Growth 2x Daily ETFExpense ratio 0.45%1 year return —