AVS vs SPY
Direxion Daily AVGO Bear 1X ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | AVS | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.03% | 0.09% | |
| AUM | $8M | $821.1B | |
| Dividend Yield | 3.58% | 1.01% | |
| Holdings | 8 | 505 | |
| YTD Return | -17.15% | +12.93% | |
| 1Y Return | -32.19% | +20.62% | |
| 3Y Return (annualized) | - | +22.00% | |
| 5Y Return (annualized) | - | +13.33% | |
| Volatility (annualized) | 46.7% | 15.3% | |
| Max Drawdown | -76.6% | -56.5% | |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Oct 10, 2024 | Jan 22, 1993 |
AVS vs SPY Performance
Direxion Daily AVGO Bear 1X ETF (AVS) is a ETF from Direxion Shares ETF Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year AVS returned -32.19% while SPY returned +20.62%. Year to date, AVS is down 17.15% versus a gain of 12.93% for SPY.
Risk: Volatility and Drawdowns
AVS has been the more volatile fund, with annualized monthly volatility of 46.7% 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 -76.6% for AVS 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 -0.41. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AVS charges 1.03% per year while SPY charges 0.09%. On a $10,000 position that is $103 vs $9 annually, a gap of $94 per year that compounds over a long holding period. On income, AVS currently yields 3.58% against 1.01% for SPY.
Holdings Overlap
AVS and SPY share 0 holdings out of 508 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, AVS or SPY?
AVS has an expense ratio of 1.03% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $94 per year of difference.
Which performed better, AVS or SPY?
Over the past year AVS returned -32.19% vs +20.62% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), AVS annualized -45.23% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, AVS or SPY?
AVS has been the more volatile fund at 46.7% annualized versus 15.3% for SPY. Worst drawdown: AVS -76.6% vs SPY -56.5%.
Should I hold both AVS and SPY?
AVS and SPY have a monthly-return correlation of -0.41, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AVS and SPY?
AVS and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, AVS or SPY?
AVS yields 3.58% while SPY yields 1.01%, so AVS currently pays the higher dividend yield.
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