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Drift Report On SPXS And 21 Leveraged ETFs (NYSEARCA:SPXS)

Direxion Daily S&P 500® Bear 3X Shares ETF (NYSEARCA:SPXS) is one of the most popular instruments to short the broad market for trading or hedging purposes. However, its daily -3X leverage factor is a source of drift. It must be closelySPXU

Index

Ñ

Ticker

1-month Return

1-month Drift

1-year Return

1-year Drift

S&P 500

1

SPY

3.63%

0.00%

1.37%

0.00%

2

SSO

6.60%

-0.33%

-7.22%

-4.98%

-2

SDS

-6.12%

0.57%

-9.53%

-3.40%

3

UPRO

9.78%

-0.37%

-18.84%

-7.65%

-3

SPXS

-9.43%

0.49%

-21.26%

-5.72%

ICE US20+ Tbond

1

TLT

2.31%

0.00%

-9.53%

0.00%

3

TMF

5.36%

-0.52%

-39.67%

-3.69%

-3

TMV

-6.29%

0.21%

16.95%

-3.88%

NASDAQ 100

1

QQQ

3.15%

0.00%

2.61%

0.00%

3

TQQQ

7.70%

-0.58%

-24.92%

-10.92%

-3

SQQQ

-8.82%

0.21%

-39.68%

-10.62%

DJ 30

1

DIA

4.32%

0.00%

4.50%

0.00%

3

UDOW

12.00%

-0.32%

-6.05%

-6.52%

-3

SDOW

-11.02%

0.65%

-20.89%

-2.46%

Russell 2000

1

IWM

-0.13%

0.00%

-4.77%

0.00%

3

TNA

-2.22%

-0.61%

-35.69%

-7.13%

-3

TZA

0.55%

0.05%

-15.62%

-9.98%

MSCI Emerging

1

EEM

0.03%

0.00%

-3.76%

0.00%

3

EDC

-1.34%

-0.48%

-28.33%

-5.68%

-3

EDZ

0.16%

0.08%

-3.68%

-4.99%

Gold spot

1

GLD

1.24%

0.00%

5.01%

0.00%

2

UGL

1.74%

-0.37%

2.10%

-3.96%

-2

GLL

-1.85%

0.32%

-9.03%

0.50%

Silver spot

1

SLV

7.28%

0.00%

7.03%

0.00%

2

AGQ

14.21%

-0.18%

0.42%

-6.82%

-2

ZSL

-13.74%

0.41%

-30.63%

-8.29%

S&P Biotech Select

1

XBI

5.08%

0.00%

5.64%

0.00%

3

LABU

12.30%

-0.98%

-37.49%

-18.14%

-3

LABD

-17.65%

-0.80%

-67.65%

-16.91%

PHLX Semicond.

1

SOXX

-5.21%

0.00%

5.14%

0.00%

3

SOXL

-16.69%

-0.35%

-34.55%

-16.66%

-3

SOXS

17.02%

0.46%

-65.39%

-16.66%

12-month drift of SPXS

12-month drift of SPXS, real since 11/5/2008 and simulated before (chart: author; data: Portfolio123)

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