CLIX vs SPY
ProShares Long Online/Short Stores 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 | CLIX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.09% | |
| AUM | $6M | $821.1B | |
| Dividend Yield | 0.53% | 1.01% | |
| Holdings | 30 | 505 | |
| YTD Return | -2.34% | +12.93% | |
| 1Y Return | +3.55% | +20.62% | |
| 3Y Return (annualized) | +19.40% | +22.00% | |
| 5Y Return (annualized) | -3.07% | +13.33% | |
| Volatility (annualized) | 24.6% | 15.3% | |
| Max Drawdown | -73.2% | -56.5% | |
| Fund Family | ProShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Nov 14, 2017 | Jan 22, 1993 |
CLIX vs SPY Performance
ProShares Long Online/Short Stores ETF (CLIX) is a ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CLIX returned +3.55% while SPY returned +20.62%. Year to date, CLIX is down 2.34% versus a gain of 12.93% for SPY.
Over three years, CLIX compounded at +19.40% per year against +22.00% for SPY; over five years the annualized figures are -3.07% and +13.33% respectively. Across the full 9-year window we track, SPY has the edge at +8.82% annualized vs +4.61%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CLIX has been the more volatile fund, with annualized monthly volatility of 24.6% 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 -73.2% for CLIX 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 0.53. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CLIX charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, CLIX currently yields 0.53% against 1.01% for SPY.
Holdings Overlap
CLIX and SPY share 4 holdings out of 522 unique holdings combined, representing a 4.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CLIX or SPY?
CLIX has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, CLIX or SPY?
Over the past year CLIX returned +3.55% vs +20.62% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (9 years), CLIX annualized +4.61% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, CLIX or SPY?
CLIX has been the more volatile fund at 24.6% annualized versus 15.3% for SPY. Worst drawdown: CLIX -73.2% vs SPY -56.5%.
Should I hold both CLIX and SPY?
CLIX and SPY have a monthly-return correlation of 0.53, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CLIX and SPY?
CLIX and SPY share 4 common holdings with a 4.3% weight overlap. Combined, they hold 522 unique securities.
Which pays a higher dividend, CLIX or SPY?
CLIX yields 0.53% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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