BRKD vs SPY
Direxion Daily BRKB 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 | BRKD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.00% | 0.09% | |
| AUM | $1M | $821.1B | |
| Dividend Yield | 2.82% | 1.01% | |
| Holdings | 7 | 505 | |
| YTD Return | +3.82% | +12.93% | |
| 1Y Return | +11.74% | +20.62% | |
| 3Y Return (annualized) | - | +22.00% | |
| 5Y Return (annualized) | - | +13.33% | |
| Volatility (annualized) | 16.8% | 15.3% | |
| Max Drawdown | -17.9% | -56.5% | |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Dec 11, 2024 | Jan 22, 1993 |
BRKD vs SPY Performance
Direxion Daily BRKB Bear 1X ETF (BRKD) 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 BRKD returned +11.74% while SPY returned +20.62%. Year to date, BRKD is up 3.82% versus a gain of 12.93% for SPY.
Risk: Volatility and Drawdowns
BRKD has been the more volatile fund, with annualized monthly volatility of 16.8% 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 -17.9% for BRKD 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 0.29. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BRKD charges 1.00% per year while SPY charges 0.09%. On a $10,000 position that is $100 vs $9 annually, a gap of $91 per year that compounds over a long holding period. On income, BRKD currently yields 2.82% against 1.01% for SPY.
Holdings Overlap
BRKD and SPY share 0 holdings out of 507 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, BRKD or SPY?
BRKD has an expense ratio of 1.00% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $91 per year of difference.
Which performed better, BRKD or SPY?
Over the past year BRKD returned +11.74% vs +20.62% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), BRKD annualized +0.64% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, BRKD or SPY?
BRKD has been the more volatile fund at 16.8% annualized versus 15.3% for SPY. Worst drawdown: BRKD -17.9% vs SPY -56.5%.
Should I hold both BRKD and SPY?
BRKD and SPY have a monthly-return correlation of 0.29, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BRKD and SPY?
BRKD and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, BRKD or SPY?
BRKD yields 2.82% while SPY yields 1.01%, so BRKD currently pays the higher dividend yield.
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