SPXU
SPXU is an exchange-traded fund (ETF) that aims to provide three times (3x) the inverse (opposite) of the daily performance of the S&P 500 Index. It is a leveraged inverse ETF designed to profit from declines in the S&P 500 Index by delivering -3x the daily return of the index.
Asset Summary
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Asset Performance Metrics and Risk Characteristics:
Metrics below use daily returns for Jan 1, 2026 – Jun 17, 2026 (YTD).
Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.
1 Month Trailing Return
-4.63%
Represents the percentage change in asset value over the past month.
3 Month Trailing Return
-29.78%
Indicates the percentage change in asset value over the last three months.
Period Max Drawdown
42.07%
The highest percentage drop from the peak value to the lowest point during the observed period.
Standard Deviation
42.37%
Shows how much the asset’s daily returns deviate from the average, annualized for the entire period.
Sharpe Ratio
-1.29
Measures the average return earned in excess of the risk-free rate per unit of volatility, annualized.
Calmar Ratio
-1.30
The ratio of the annualized return to the maximum drawdown, reflecting the return per unit of risk.
Asset Technical Analysis
Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. Using indicators such as moving averages, pivot levels, momentum studies, and candlestick pattern scans can clarify trend strength and volatility. The tabs below summarize moving averages, pivots, technical indicators, candlestick patterns, and recent prices for this symbol.
Analysis
Moving Averages
Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:
| Type/Period | |
|---|---|
| SMA | |
| EMA | |
| WMA | |
| WEMA |
- SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
- EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
- WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
- WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.
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Start Optimizing NowFrequently Asked Questions
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SPXU specifically targets three times the inverse daily return of the S&P 500 Index. Other inverse ETFs may focus on different indices or offer varying levels of inverse exposure, such as 1x or 2x, and may use different strategies or underlying assets.
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Factors affecting SPXU’s performance include market conditions, changes in the S&P 500 Index, and the impact of leverage and daily rebalancing. Volatility and compounding effects can lead to deviations from the intended -3x return over time.
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SPXU distributes dividends on a quarterly basis. These dividends come from the income generated by the underlying securities in the fund's portfolio, adjusted for the ETF’s leveraged and inverse position.
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Similar ETFs to SPXU include ProShares UltraShort S&P 500 ETF (SDS), which aims to provide twice (2x) the inverse daily return of the S&P 500 Index, and Direxion Daily S&P 500 Bear 1x Shares (SPDN), which seeks to provide one times (-1x) the inverse daily performance of the S&P 500 Index.
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SPXU rebalances its portfolio daily to maintain its -3x leverage ratio relative to the S&P 500 Index. This daily rebalancing is necessary to meet the fund’s objective of providing three times the inverse daily return.
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SPXU is managed by Direxion. The fund uses leverage and financial derivatives, such as futures contracts and swaps, to achieve its goal of providing three times the inverse of the daily return of the S&P 500 Index. The ETF is rebalanced daily to maintain the -3x leverage ratio.
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As of the latest update, SPXU has an expense ratio of approximately 0.96%. This fee covers the costs associated with managing the fund, including the costs of leveraging and maintaining the inverse exposure.
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Key performance metrics for SPXU include its net asset value (NAV), expense ratio, total return, and tracking error. NAV represents the per-share value of the ETF, the expense ratio indicates the annual cost of managing the fund, total return measures overall performance including dividends, and tracking error shows how closely SPXU tracks its -3x performance objective.
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SPXU seeks to provide three times the inverse of the daily return of the S&P 500 Index. If the S&P 500 Index falls by 1% in a day, SPXU aims to increase by 3%. Conversely, if the S&P 500 Index rises, SPXU aims to decrease by three times that amount. Due to daily rebalancing and compounding effects, the long-term performance may deviate from -3x the cumulative return of the S&P 500 Index.
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Investors can purchase shares of SPXU through a brokerage account, similar to other stocks and ETFs. It is traded on the New York Stock Exchange (NYSE) under the ticker symbol "SPXU."
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