ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Direxion is known for creating leveraged and inverse ETFs that amplify or reverse the daily movements of underlying indices and sectors. The firm's 22-fund lineup focuses primarily on leveraged long and short strategies across technology, financials, commodities, and broad market segments, with popular tickers including SOXL (3x leveraged semiconductors), SPXL (3x leveraged S&P 500), and TMF (3x leveraged long-term Treasuries). These funds are designed for tactical, short-term trading rather than buy-and-hold investing, making Direxion a niche player catering to experienced investors seeking amplified market exposure or hedging strategies.
See our curated list of related YouTube videos on SPXL.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.
See our curated list of related YouTube videos on SPY.
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
SPXL has outpaced SPY over the trailing twelve months, posting a 56.66% total return against 22.00%. The lead holds up over 10 years too: SPXL has compounded at 28.83% a year, against 15.11% for SPY. SPY has been the steadier holding, though — annualized volatility of 15.2% against 44.4% for SPXL. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 16, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Nov 2008” measures every fund from November 5, 2008 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
SPXL (Direxion Daily S&P500 Bull 3X Shares) and SPY (SPDR S&P 500 ETF Trust) are both quarterly-pay dividend ETFs, but they take different approaches.
SPY offers the higher yield at 1.01% vs 0.76% for SPXL. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SPY is cheaper with an expense ratio of 0.10% compared to 0.91%.
SPY is the larger fund by assets ($789B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, SPXL would generate roughly $6.33/month, while SPY would produce $8.42/month, at current distribution rates. Both pay quarterly distributions.
SPXL yield0.76%
SPY yield1.01%
Monthly diff on $10K$2.08
Cost & efficiency
Over 10 years on $10,000, SPXL would cost approximately $910 in fees vs $100 for SPY (simplified, not compounded). The $810.00 difference may be offset by yield or performance.
SPXL ER0.91%
SPY ER0.10%
Strategy & risk
SPXL is an ETF, while SPY tracks S&P 500 Index with a large cap approach. Beta is 3.12 for SPXL and 1.0 for SPY, indicating SPY is less volatile relative to the market.
SPXL beta3.12
SPY beta1.0
Fund details
SPXL is managed by Direxion (launched 11/05/2008) with $6.18B in assets. SPY is managed by State Street (launched 01/22/1993) with $789B in assets.
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Frequently asked questions
Is SPXL or SPY better for dividend income?
It depends on your goals. SPY currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between SPXL and SPY?
SPXL (Direxion Daily S&P500 Bull 3X Shares) is an ETF, while SPY (SPDR S&P 500 ETF Trust) tracks S&P 500 Index with a large cap approach. They are issued by Direxion and State Street respectively.
Can I hold both SPXL and SPY?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, SPXL or SPY?
SPXL has an expense ratio of 0.91% while SPY charges 0.10%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in SPXL vs SPY generate?
At current rates, $10,000 in SPXL would generate roughly $6.33 per month ($76.00 annually). The same in SPY would produce about $8.42 per month ($101.00 annually).
Which has performed better historically, SPXL or SPY?
SPXL has outpaced SPY over the trailing twelve months, posting a 56.66% total return against 22.00%. The lead holds up over 10 years too: SPXL has compounded at 28.83% a year, against 15.11% for SPY. SPY has been the steadier holding, though — annualized volatility of 15.2% against 44.4% for SPXL. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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