Direxion Daily S&P 500 Bull 3X Shares
$288.00−6.17 (−2.10%)
- Expense ratio
- 0.95%
- Fund size
- $7.1B
- 1Y return
- +38.9%
- Yield · Last 12 months
- 0.59%
- Holdings
- 516
- Volume · 30D
- 1.8M sh
- NAV per share
- $280.78
- 52W range
The ETF.net SPXL Grade
Score 41 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 23Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 39Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 69Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 72Category rank
Our read on SPXL
COne of the original 3x S&P 500 vehicles, running since 2008. It aims for 300% of the index's daily move, resets that exposure every day, and trades actively enough to be a fast in-and-out instrument rather than a buy-and-forget one.
The fund seeks daily investment results, before fees and expenses, equal to 300% of the performance of the S&P 500 Index.
Why people hold it
- The job is one line: 300% of the S&P 500's daily move, before fees and expenses. No stock picking, no discretion, just triple the day's swing across about 500 large US names.direxion.com
- A multi-billion-dollar fund that trades actively, which is the trait that matters most in a product designed to be entered and exited quickly.
- Live since 2008, so its daily-reset machinery has run through crashes, melt-ups and circuit breakers. Long operating histories are scarce in leveraged land.sec.gov
Worth knowing
- At 0.95% a year it is the pricier way to get 3x on this index: rival UPRO carries the same daily multiple at 0.89%, and 2x SPUU lists at 0.66%.
- Hold beyond a single day and results come from each day's compounded return, which the prospectus says will very likely differ from 300% of the index over that stretch.sec.gov
- Leverage cuts both ways. The same 3x that magnifies an up day magnifies a down one, and the filings flag volatile, choppy markets as the harshest terrain for a daily reset.sec.gov
SPXL Holdings
- Stocks
- 516
- 78%
- SPX SWAP ASSET LEG (SPXMLL)
Sectors
- Technology38.7%
- Financials12.1%
- Communication9.5%
- Consumer Discr.9.3%
- Health Care9.3%
- Industrials7.7%
- Cons. Staples4.5%
- Energy3.5%
- Utilities2.0%
- Real Estate1.8%
- Materials1.7%
Geography
- United States97.97%
- Ireland1.15%
- United Kingdom0.41%
- Switzerland0.30%
- Netherlands0.08%
- Bermuda0.07%
- Canada0.01%
SPXL Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | SPXL |
|---|---|
| Year to date | +34.1% |
| 1 month | +2.7% |
| 3 months | +9.3% |
| 1 year | +38.9% |
| 3 years | +55.6% |
| 5 years | +21.9% |
| 10 years | +29.4% |
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 | SPXL |
|---|---|---|
| 2026 YTD | +34.1% | |
| 2025 | +31.9% | |
| 2024 | +63.6% | |
| 2023 | +69.5% | |
| 2022 | −56.6% | |
| 2021 | +98.7% | |
| 2020 | +9.6% |
SPXL in the news
ETF.net Research hasn’t filed on SPXL yet — coverage lands here as it’s written.
SPXL Dividends
- 0.59%
- $1.74
- $0.31 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 22, 2026 | Pays Sep 29, 2026 | $0.31 |
| Jun 23, 2026 | Jun 30, 2026 | $0.52 |
| Mar 24, 2026 | Mar 31, 2026 | $0.45 |
| Dec 23, 2025 | Dec 31, 2025 | $0.17 |
| Sep 23, 2025 | Sep 30, 2025 | $0.28 |
| Jun 24, 2025 | Jul 1, 2025 | $0.57 |
| Mar 25, 2025 | Apr 1, 2025 | $0.49 |
| Dec 23, 2024 | Dec 31, 2024 | $0.32 |
| Sep 24, 2024 | Oct 1, 2024 | $0.19 |
| Jun 25, 2024 | Jul 2, 2024 | $0.34 |
| Mar 19, 2024 | Mar 26, 2024 | $0.39 |
| Dec 21, 2023 | Dec 29, 2023 | $0.30 |
SPXL 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.
- 40.6%
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.
- 1.05
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.
- −63.8%
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.
- 3.03
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SPXL Cost
- The middle half of 2x/3x Long S&P 500 funds
- Median 0.88%
Every other 2x/3x Long S&P 500 fund charges less.