EDZ vs SPY
Direxion Daily MSCI Emerging Markets Bear 3X ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, EDZ or SPY?
Opposite sides of the same exposure.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two move opposite each other, correlation -0.69, so holding both offsets the exposure while paying both fees.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | EDZ | SPY |
|---|---|---|
| Expense Ratio | 1.05% | 0.09%Best |
| AUM | $21M | $804.7B |
| Dividend Yield | 4.26% | 0.98% |
| Holdings | 4 | 505 |
| YTD Return | -56.87% | +12.19%Best |
| 1Y Return | -68.55% | +18.53%Best |
| 3Y Return (annualized) | -50.03% | +20.88%Best |
| 5Y Return (annualized) | -28.21% | +12.69%Best |
| Volatility (annualized) | 53.6% | 14.9%Best |
| Max Drawdown | - | -34.1% |
| $10,000 over 5 years | $1,907 | $18,173Best |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Trading-Inverse Equity | Large Cap Blend |
| Inception | Dec 17, 2008 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Dec 17, 2008 to Sep 9, 2026 (17.7 years).
EDZ vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 17.7 years both funds cover.
EDZ vs SPY Performance
Direxion Daily MSCI Emerging Markets Bear 3X ETF (EDZ) is an ETF from Direxion Shares ETF Trust and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year EDZ returned -68.55% while SPY returned +18.53%. Year to date, EDZ is down 56.87% versus a gain of 12.19% for SPY.
Over three years, EDZ compounded at -50.03% per year against +20.88% for SPY; over five years the annualized figures are -28.21% and +12.69% respectively. Across the full 18-year window we track, SPY has the edge at +13.21% annualized vs -40.48%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EDZ has been the more volatile fund, with annualized monthly volatility of 53.6% compared with 14.9% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at -0.69. They move opposite each other. Holding both offsets the exposure rather than spreading it, while paying both funds' fees.
Fees and Cost Over Time
EDZ charges 1.05% per year while SPY charges 0.09%. On a $10,000 position that is $105 vs $9 annually, a gap of $96 per year that compounds over a long holding period. On income, EDZ currently yields 4.26% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 2 holdings in EDZ and 504 in SPY, totalling 122.8% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 2 positions we hold weights for in EDZ and 504 in SPY, against full books of 4 and 505.
You are not choosing between two funds in isolation.
Whichever of EDZ and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, EDZ or SPY?
EDZ has an expense ratio of 1.05% while SPY charges 0.09%. SPY is the cheaper option, by $96 a year on a $10,000 investment.
Which performed better, EDZ or SPY?
Over the past year EDZ returned -68.55% vs +18.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (18 years), EDZ annualized -40.48% vs +13.21% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EDZ or SPY?
EDZ has been the more volatile fund at 53.6% annualized versus 14.9% for SPY.
Should I hold both EDZ and SPY?
EDZ and SPY have a monthly-return correlation of -0.69, so they move opposite each other. Holding both offsets the exposure rather than spreading it, and pays both funds' fees on the way. This is information, not a recommendation.
Which pays a higher dividend, EDZ or SPY?
EDZ yields 4.26% while SPY yields 0.98%, so EDZ currently pays the higher dividend yield.
Is SPY better than EDZ?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two move opposite each other, correlation -0.69, so holding both offsets the exposure while paying both fees. Which one suits a particular account depends on what it is for. This is information, not a recommendation.