DUST vs SPY
Direxion Daily Gold Miners Index Bear 2X 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 503 holdings.
Side-by-Side Comparison
| Metric | DUST | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.94% | 0.09% | |
| AUM | $71M | $789.1B | |
| Dividend Yield | 4.36% | 1.01% | |
| Holdings | 7 | 505 | |
| YTD Return | -44.45% | +13.68% | |
| 1Y Return | -78.16% | +21.53% | |
| 3Y Return (annualized) | -67.11% | +21.44% | |
| 5Y Return (annualized) | -53.20% | +13.18% | |
| Volatility (annualized) | 90.0% | 15.3% | |
| Max Drawdown | -100.0% | -56.5% | |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Dec 8, 2010 | Jan 22, 1993 |
DUST vs SPY Performance
Direxion Daily Gold Miners Index Bear 2X ETF (DUST) 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 DUST returned -78.16% while SPY returned +21.53%. Year to date, DUST is down 44.45% versus a gain of 13.68% for SPY.
Over three years, DUST compounded at -67.11% per year against +21.44% for SPY; over five years the annualized figures are -53.20% and +13.18% respectively. Across the full 16-year window we track, SPY has the edge at +8.85% annualized vs -50.18%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DUST has been the more volatile fund, with annualized monthly volatility of 90.0% 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 DUST 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 -0.11. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DUST charges 0.94% per year while SPY charges 0.09%. On a $10,000 position that is $94 vs $9 annually, a gap of $85 per year that compounds over a long holding period. On income, DUST currently yields 4.36% against 1.01% for SPY.
Holdings Overlap
DUST 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, DUST or SPY?
DUST has an expense ratio of 0.94% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $85 per year of difference.
Which performed better, DUST or SPY?
Over the past year DUST returned -78.16% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (16 years), DUST annualized -50.18% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, DUST or SPY?
DUST has been the more volatile fund at 90.0% annualized versus 15.3% for SPY. Worst drawdown: DUST -100.0% vs SPY -56.5%.
Should I hold both DUST and SPY?
DUST and SPY have a monthly-return correlation of -0.11, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DUST and SPY?
DUST and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, DUST or SPY?
DUST yields 4.36% while SPY yields 1.01%, so DUST currently pays the higher dividend yield.
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