AALG vs SPY
AALG vs SPY
Leverage Shares 2X Long AAL Daily ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. AALG delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | AALG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.78% | 0.09% | |
| AUM | $3M | $789.1B | |
| Dividend Yield | 1.34% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | -15.46% | +13.79% | |
| 1Y Return | +29.93% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 105.2% | 15.3% | |
| Max Drawdown | -64.2% | -56.5% | |
| Fund Family | Leverage Shares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jul 11, 2025 | Jan 22, 1993 |
AALG vs SPY Performance
Leverage Shares 2X Long AAL Daily ETF (AALG) is a ETF from Leverage Shares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year AALG returned +29.93% while SPY returned +23.66%. Year to date, AALG is down 15.46% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
AALG has been the more volatile fund, with annualized monthly volatility of 105.2% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -64.2% for AALG and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.33. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AALG charges 0.78% per year while SPY charges 0.09%. On a $10,000 position that is $78 vs $9 annually, a gap of $69 per year that compounds over a long holding period. On income, AALG currently yields 1.34% against 1.01% for SPY.
Holdings Overlap
AALG and SPY share 0 holdings out of 505 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, AALG or SPY?
AALG has an expense ratio of 0.78% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $69 per year of difference.
Which performed better, AALG or SPY?
Over the past year AALG returned +29.93% vs +23.66% for SPY, so AALG leads on 1-year performance. Over the longest common window we track (1 years), AALG annualized +15.01% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, AALG or SPY?
AALG has been the more volatile fund at 105.2% annualized versus 15.3% for SPY. Worst drawdown: AALG -64.2% vs SPY -56.5%.
Should I hold both AALG and SPY?
AALG and SPY have a monthly-return correlation of 0.33, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AALG and SPY?
AALG and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, AALG or SPY?
AALG yields 1.34% while SPY yields 1.01%, so AALG currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.