Direxion Daily S&P500 Bull 3X Shares (SPXL) Performance
SPXL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +25.6% since Dec 31, 2025
- 1 year
- +29.1% total return
- 5 years
- +18.0% a year
- 10 years
- +29.2% a year
- Since first price
- +28.0% a year since 2008
SPXL trailing returns vs SPY, QQQ, AGG
| Period | SPXL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.1% | −4.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +6.1% | +6.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +16.8% | +16.5% | +7.8% | +8.4% | −1.5% |
| YTD | +25.6% | +24.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +29.1% | +28.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +284.4%+56.6%/yr | +274.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +128.9%+18.0%/yr | +120.2% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +1,199.3%+29.2%/yr | +1,076.4% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +5,998.8%+31.5%/yr | +5,421.8% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionNov 5, 2008 | +8,332.7%+28.0%/yr | +6,385.4% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SPXL vs SPY
From Nov 5, 2008: SPXL grew to $843,266, SPY to $109,469.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SPXL returns by calendar year
13 of 17 full years positive. Best 2013 (+118.4%), worst 2022 (−56.6%). 2026 is year to date.
SPXL annual returns table
| Year | SPXL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +25.6% | −26.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +31.9% | −48.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +63.6% | −24.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +69.5% | −30.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −56.6% | −63.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +98.8% | −15.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +9.6% | −76.9% | +18.3% | +48.6% | +7.5% |
| 2019 | +102.8% | −19.5% | +31.2% | +39.0% | +8.5% |
| 2018 | −25.1% | −50.2% | −4.6% | −0.1% | +0.1% |
| 2017 | +71.0% | −8.1% | +21.7% | +32.7% | +3.6% |
| 2016 | +30.0% | −26.4% | +12.0% | +7.1% | +2.4% |
| 2015 | −5.5% | −33.3% | +1.2% | +9.4% | +0.5% |
| 2014 | +37.5% | −21.0% | +13.5% | +19.2% | +6.0% |
| 2013 | +118.4% | −16.5% | +32.3% | +36.6% | −2.0% |
| 2012 | +44.1% | −28.0% | +16.0% | +18.1% | +3.8% |
| 2011 | −14.9% | −53.8% | +1.9% | +3.4% | +7.7% |
| 2010 | +39.8% | −43.4% | +15.1% | +19.9% | +6.4% |
| 2009 | +65.2% | −64.3% | +26.4% | +54.7% | +3.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SPXL largest drawdowns
Now 8.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −76.9% | Mar 23, 2020 | Jan 8, 2021 | 33 days | 11 months |
| Nov 5, 2008 | −71.3% | Mar 9, 2009 | Sep 15, 2009 | 4 months | 10 months |
| Jan 3, 2022 | −63.8% | Oct 12, 2022 | Jun 12, 2024 | 9 months | 2.4 years |
| Apr 29, 2011 | −53.8% | Oct 3, 2011 | Sep 13, 2012 | 5 months | 1.4 years |
| Sep 20, 2018 | −50.2% | Dec 24, 2018 | Jul 12, 2019 | 3 months | 10 months |
| Dec 6, 2024 | −48.9% | Apr 8, 2025 | Jul 25, 2025 | 4 months | 8 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SPXL risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2008 |
|---|---|---|---|---|
| Annualized return | +54.5% | +22.3% | +29.0% | +30.6% |
| Volatility (annualized) | 39.2% | 47.5% | 47.6% | 45.9% |
| Sharpe ratio | 1.20 | 0.59 | 0.74 | 0.80 |
| Sortino ratio | 2.48 | 0.95 | 1.15 | 1.27 |
| Best month | +33.3% | +33.3% | +37.2% | +37.2% |
| Worst month | −17.6% | −26.8% | −48.2% | −48.2% |
| Best 12 months | +120.5% | +120.5% | +227.0% | +227.0% |
| Worst 12 months | +5.7% | −56.6% | −56.6% | −56.6% |
| Positive months | 61% | 55% | 64% | 63% |
| Beta vs S&P 500 | 3.15 | 3.03 | 3.09 | — |
| Correlation with S&P 500 | 1.00 | 1.00 | 1.00 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SPXL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 204 | −56.6% | +37.8% | +227.0% | 79% |
| 3-year (a year) | 180 | −4.4% | +28.7% | +71.3% | 99% |
| 5-year (a year) | 156 | +4.5% | +28.3% | +64.4% | 100% |
| 10-year (a year) | 96 | +18.8% | +28.1% | +42.5% | 100% |
Every holding period starting at a month-end since 2008. Returns for 3 years and longer are annualized.
SPXL performance overview
Direxion Daily S&P500 Bull 3X Shares (SPXL) returned +29.1% over the past year and +29.2% a year over ten years, with distributions reinvested. Since its first recorded price in 2008 it has returned +28.0% a year, turning $10,000 into about $843,266. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −76.9%, from Feb 19, 2020 to Mar 23, 2020, and it took 10 months to get back to the old high. SPXL finished 13 of its 17 full calendar years with a gain; the best year was 2013 (+118.4%) and the worst 2022 (−56.6%). Volatility has been 45.9% a year.
Related: SPXL chart, SPXL dividends. See the SPXL overview for the latest quote and fund facts.
SPXL performance FAQ
What is the SPXL return over the past year?
SPXL returned +29.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 28.3%.
What is the average annual return of SPXL?
SPXL has returned +18.0% a year over 5 years, +29.2% a year over 10 years, +28.0% a year since November 5, 2008 (total return, distributions reinvested).
How much would $10,000 invested in SPXL be worth?
$10,000 invested in SPXL at its first recorded close on November 5, 2008 would be worth about $843,266 on October 23, 2026 with distributions reinvested.
What was the worst year for SPXL?
The worst calendar year was 2022, with a total return of −56.6%. The best was 2013 at +118.4%.
What is the biggest drawdown of SPXL?
The largest peak-to-trough decline was −76.9% between February 19, 2020 and March 23, 2020. It recovered to the old high on January 8, 2021, 10 months after the bottom.
How volatile is SPXL?
Over the past 3 years SPXL had an annualized volatility of 39.2% and a Sharpe ratio of 1.20 (excess return over 1–3 month T-bills per unit of risk).