(SPXL) Direxion Daily S&P500 Bull - Overview
ETF Category: Trading--Leveraged Equity | Exchange: NYSE ARCA (USA) | Market Cap: 6.386m USD | Total Return: 85.1% in 12m
TER: 0.91%
Avg Turnover: 544M
Warnings
No concerns identified
Tailwinds
No distinct edge detected
The Direxion Daily S&P 500 Bull 3X Shares (SPXL) is a leveraged exchange-traded fund designed to provide 300% of the daily performance of the S&P 500 Index. To achieve this objective, the fund invests at least 80% of its assets in a combination of benchmark securities, other ETFs, and financial derivatives such as swap agreements. This strategy utilizes daily rebalancing, which means the funds long-term returns can significantly deviate from triple the indexs performance due to the effects of compounding and volatility decay.
The underlying index tracks 500 leading large-cap companies listed in the United States, representing approximately 80% of the available market capitalization. Because the fund uses debt and derivatives to amplify returns, it is classified as non-diversified and carries higher counterparty risk than traditional equity funds. Investors can further analyze these risk factors and historical performance metrics on ValueRay.
- S&P 500 price movement dictates daily leveraged returns for fund shareholders
- Derivative swap agreement costs fluctuate based on prevailing short-term interest rates
- Daily rebalancing requirements create compounding decay during periods of high market volatility
- Regulatory scrutiny of leveraged ETFs influences institutional demand and fund liquidity
- Broad U.S. large-cap equity performance drives underlying index valuation and net asset value
Over the past week, the price has changed by -2.41%, over one month by +16.14%, over three months by +25.05% and over the past year by +85.05%.
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