{"url":"https://etfiq.com/compare/leverage/spuu-vs-spxl","section":"compare","title":"SPUU vs SPXL: which held to its multiple? | ETFIQ","description":"SPUU sets out to return +2 times SPY each day and SPXL +3 times. Over the three months to Sep 30, 2026 they finished \u22121.7 pts and \u22123.3 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, SPUU or SPXL?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, SPUU finished 1.7 points from what its multiple implies and SPXL finished 3.3 points from its own, so SPUU came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are SPUU and SPXL levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on the S&P 500, SPUU at +2 times and SPXL at +3 times the daily move."}},{"@type":"Question","name":"Which one decays faster, SPUU or SPXL?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window SPUU\u2019s moved at 11% annualized and SPXL\u2019s at 11%, so SPUU has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold SPUU or SPXL for a year?","acceptedAnswer":{"@type":"Answer","text":"Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, SPUU or SPXL?","acceptedAnswer":{"@type":"Answer","text":"SPUU charges 0.60% a year and SPXL charges 0.84%, so SPUU is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"SPUU vs SPXL","item":"https://etfiq.com/compare/leverage/spuu-vs-spxl"}]},{"@type":"WebPage","name":"SPUU vs SPXL: which held to its multiple?","description":"SPUU sets out to return +2 times SPY each day and SPXL +3 times. Over the three months to Sep 30, 2026 they finished \u22121.7 pts and \u22123.3 pts away.","url":"https://etfiq.com/compare/leverage/spuu-vs-spxl","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, SPUU finished 1.4 points short and SPXL 2.6 points short.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of SPUU and SPXL","description":"SPUU sets out to return +2 times SPY each day and SPXL +3 times. Over the three months to Sep 30, 2026 they finished \u22121.7 pts and \u22123.3 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/spuu-vs-spxl","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":6842,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / SPUU vs SPXL \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n SPUU vs SPXL: which held to its multiple?\n\n Over three months against its own daily promise, SPUU finished 1.4 points short and SPXL 2.6 points short.\n Copy this for sharing \n \n Direxion Daily S&P 500(R) Bull 2X ETF and Direxion Daily S&P 500(R) Bull 3X ETF.\n\n Download as PDF \n\n +3.4% SPUU returned, 3 months \n +4.2% SPXL returned, 3 months \n \u22121.7 pts SPUU from its stated multiple \n \u22123.3 pts SPXL from its stated multiple \n\n ETFIQ Decay Resistance Score: SPUU scores higher","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/spuu-vs-spxl","a":{"ticker":"SPUU","name":"Direxion Daily S&P 500(R) Bull 2X ETF","issuer":"Direxion","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: SPUU returned +3.4% where its own daily promise gave +4.8%, 1.4 points short.","url":"https://etfiq.com/funds/spuu","key_facts":[{"label":"What SPY did","value":"+2.5%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+4.8%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+3.4%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22121.4 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$284m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.60%","as_of":"2026-09-30","source":"485BPOS XBRL, Feb 26, 2026"}]},"b":{"ticker":"SPXL","name":"Direxion Daily S&P 500(R) Bull 3X ETF","issuer":"Direxion","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: SPXL returned +4.2% where its own daily promise gave +6.8%, 2.6 points short.","url":"https://etfiq.com/funds/spxl","key_facts":[{"label":"What SPY did","value":"+2.5%","as_of":"2026-09-30","source":null},{"label":"What 3 times a day gives","value":"+6.8%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+4.2%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22122.6 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$6.9bn","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.84%","as_of":"2026-09-30","source":"485BPOS XBRL, Feb 26, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/spuu-vs-spxl"}