BTCL vs SPY
T-Rex 2X Long Bitcoin Daily Target 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 | BTCL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.09% | |
| AUM | $25M | $821.1B | |
| Dividend Yield | 4.11% | 1.01% | |
| Holdings | 4 | 505 | |
| YTD Return | -48.42% | +12.22% | |
| 1Y Return | -72.99% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 94.8% | 15.3% | |
| Max Drawdown | -84.3% | -56.5% | |
| Fund Family | REX Shares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jul 10, 2024 | Jan 22, 1993 |
BTCL vs SPY Performance
T-Rex 2X Long Bitcoin Daily Target ETF (BTCL) is a ETF from REX Shares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BTCL returned -72.99% while SPY returned +20.83%. Year to date, BTCL is down 48.42% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
BTCL has been the more volatile fund, with annualized monthly volatility of 94.8% 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 -84.3% for BTCL 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 0.44. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BTCL charges 0.95% per year while SPY charges 0.09%. On a $10,000 position that is $95 vs $9 annually, a gap of $86 per year that compounds over a long holding period. On income, BTCL currently yields 4.11% against 1.01% for SPY.
Holdings Overlap
BTCL 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, BTCL or SPY?
BTCL has an expense ratio of 0.95% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $86 per year of difference.
Which performed better, BTCL or SPY?
Over the past year BTCL returned -72.99% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), BTCL annualized -17.59% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, BTCL or SPY?
BTCL has been the more volatile fund at 94.8% annualized versus 15.3% for SPY. Worst drawdown: BTCL -84.3% vs SPY -56.5%.
Should I hold both BTCL and SPY?
BTCL and SPY have a monthly-return correlation of 0.44, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BTCL and SPY?
BTCL and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, BTCL or SPY?
BTCL yields 4.11% while SPY yields 1.01%, so BTCL currently pays the higher dividend yield.
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