BTFL vs SPY
Defiance Daily Target 2X Long BITF ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. BTFL delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | BTFL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.31% | 0.09% | |
| AUM | $2M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +109.50% | +13.39% | |
| 1Y Return | +147.24% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 3486232.1% | 15.3% | |
| Max Drawdown | -100.0% | -56.5% | |
| Fund Family | Defiance ETFs, LLC | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Dec 29, 2025 | Jan 22, 1993 |
BTFL vs SPY Performance
Defiance Daily Target 2X Long BITF ETF (BTFL) is a ETF from Defiance ETFs, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BTFL returned +147.24% while SPY returned +22.52%. Year to date, BTFL is up 109.50% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
BTFL has been the more volatile fund, with annualized monthly volatility of 3486232.1% 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 -100.0% for BTFL 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 -0.02. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BTFL charges 1.31% per year while SPY charges 0.09%. On a $10,000 position that is $131 vs $9 annually, a gap of $122 per year that compounds over a long holding period. On income, BTFL currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
BTFL and SPY share 0 holdings out of 504 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, BTFL or SPY?
BTFL has an expense ratio of 1.31% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $122 per year of difference.
Which performed better, BTFL or SPY?
Over the past year BTFL returned +147.24% vs +22.52% for SPY, so BTFL leads on 1-year performance. Over the longest common window we track (12 years), BTFL annualized +41.83% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, BTFL or SPY?
BTFL has been the more volatile fund at 3486232.1% annualized versus 15.3% for SPY. Worst drawdown: BTFL -100.0% vs SPY -56.5%.
Should I hold both BTFL and SPY?
BTFL and SPY have a monthly-return correlation of -0.02, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BTFL and SPY?
BTFL and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, BTFL or SPY?
BTFL yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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