ETF overview
SPXL, as a levered product, is not a buy-and-hold ETF, it's a short-term tactical instrument for getting 3x exposure to the S&P 500. The fund gets the added exposure by using futures contracts and other derivatives. The underlying companies are among the biggest and most well-known in the world. Importantly, the implication of SPXL's daily rebalancing is that holding-period returns longer than a day are unlikely to resemble 3x exposure to the S&P 500. Shorter holding periods increase the importance of trading costs relative to yearly management costs, which are fairly high but average for this segment. Over longer periods, returns can vary significantly from 2x exposure to its underlying index Effective February 27, 2026, the fund replaced the term Shares in its name with ETF.
Fund facts
- Leverage
- 3x daily
- Expense ratio
- 0.95%
- Fund assets
- 7.05B USD (all share classes)
- Issuer
- Direxion
- Inception date
- Nov 5, 2008
- Number of holdings
- 513
Holdings (513)
| Name | Ticker | Exposure |
|---|---|---|
| SPX SWAP ASSET LEG (SPXMLL) | 55.08% | |
| SPX SWAP ASSET LEG (SPXGSL) | 54.36% | |
| SPX SWAP ASSET LEG (SPXJPL) | 49.63% | |
| SPX SWAP ASSET LEG (SPXUBL) | 26.74% | |
| SPX SWAP ASSET LEG (SPXBPL) | 23.73% | |
| SPX SWAP ASSET LEG (SPXCTL) | 10.60% | |
| SPX SWAP ASSET LEG (SPXBCL) | 9.58% | |
| NVIDIA CORP | NVDA | 5.54% |
| GOLDMAN FINL SQ TRSRY INST 506 | 5.28% | |
| APPLE INC | AAPL | 5.26% |
| and 500 more | ||
This is a leveraged or inverse fund. Exposure is each position's value as a share of the fund's net assets, so swaps and futures can take it above 100% or below 0%. Cash held as collateral is not listed.
Similar ETFs
- Direxion Daily S&P 500 Bull 2X ETFSPUU · Expense ratio 0.66%
Historical returns do not guarantee future returns. This is not investment advice.
- Leverage
- 3x daily
- Expense ratio
- 0.95%
- Fund assets
- 7.05B USD (all share classes)
- Issuer
- Direxion
- Inception date
- Nov 5, 2008
- Number of holdings
- 513
| Name | Ticker | Exposure |
|---|---|---|
| SPX SWAP ASSET LEG (SPXMLL) | 55.08% | |
| SPX SWAP ASSET LEG (SPXGSL) | 54.36% | |
| SPX SWAP ASSET LEG (SPXJPL) | 49.63% | |
| SPX SWAP ASSET LEG (SPXUBL) | 26.74% | |
| SPX SWAP ASSET LEG (SPXBPL) | 23.73% | |
| SPX SWAP ASSET LEG (SPXCTL) | 10.60% | |
| SPX SWAP ASSET LEG (SPXBCL) | 9.58% | |
| NVIDIA CORP | NVDA | 5.54% |
| GOLDMAN FINL SQ TRSRY INST 506 | 5.28% | |
| APPLE INC | AAPL | 5.26% |
| and 500 more | ||
This is a leveraged or inverse fund. Exposure is each position's value as a share of the fund's net assets, so swaps and futures can take it above 100% or below 0%. Cash held as collateral is not listed.
SPXL, as a levered product, is not a buy-and-hold ETF, it's a short-term tactical instrument for getting 3x exposure to the S&P 500. The fund gets the added exposure by using futures contracts and other derivatives. The underlying companies are among the biggest and most well-known in the world. Importantly, the implication of SPXL's daily rebalancing is that holding-period returns longer than a day are unlikely to resemble 3x exposure to the S&P 500. Shorter holding periods increase the importance of trading costs relative to yearly management costs, which are fairly high but average for this segment. Over longer periods, returns can vary significantly from 2x exposure to its underlying index Effective February 27, 2026, the fund replaced the term Shares in its name with ETF.
- Direxion Daily S&P 500 Bull 2X ETFSPUU · Expense ratio 0.66%
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