BOEG vs SPY
Leverage Shares 2X Long BA Daily 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 | BOEG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.77% | 0.09% | |
| AUM | $5M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 5 | 505 | |
| YTD Return | -9.82% | +14.24% | |
| 1Y Return | -21.69% | +21.71% | |
| 3Y Return (annualized) | - | +22.10% | |
| 5Y Return (annualized) | - | +13.21% | |
| Volatility (annualized) | 59.9% | 15.3% | |
| Max Drawdown | -46.5% | -56.5% | |
| Fund Family | Leverage Shares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jun 13, 2025 | Jan 22, 1993 |
BOEG vs SPY Performance
Leverage Shares 2X Long BA Daily ETF (BOEG) 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 BOEG returned -21.69% while SPY returned +21.71%. Year to date, BOEG is down 9.82% versus a gain of 14.24% for SPY.
Risk: Volatility and Drawdowns
BOEG has been the more volatile fund, with annualized monthly volatility of 59.9% 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 -46.5% for BOEG 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 0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BOEG charges 0.77% per year while SPY charges 0.09%. On a $10,000 position that is $77 vs $9 annually, a gap of $68 per year that compounds over a long holding period. On income, BOEG currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
BOEG and SPY share 1 holdings out of 505 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in BOEG | Weight in SPY | Difference |
|---|---|---|---|
| BA | 30.85% | 0.28% | 30.57% |
Frequently Asked Questions
Which is cheaper, BOEG or SPY?
BOEG has an expense ratio of 0.77% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $68 per year of difference.
Which performed better, BOEG or SPY?
Over the past year BOEG returned -21.69% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), BOEG annualized +4.39% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, BOEG or SPY?
BOEG has been the more volatile fund at 59.9% annualized versus 15.3% for SPY. Worst drawdown: BOEG -46.5% vs SPY -56.5%.
Should I hold both BOEG and SPY?
BOEG and SPY have a monthly-return correlation of 0.57, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BOEG and SPY?
BOEG and SPY share 1 common holdings with a 0.3% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, BOEG or SPY?
BOEG yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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