EEV vs SPY
ProShares UltraShort MSCI Emerging Markets 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 | EEV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.09% | |
| AUM | $3M | $789.1B | |
| Dividend Yield | 8.08% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | -34.84% | +13.79% | |
| 1Y Return | -50.21% | +23.66% | |
| 3Y Return (annualized) | -32.29% | +21.40% | |
| 5Y Return (annualized) | -16.58% | +13.37% | |
| Volatility (annualized) | 37.5% | 15.3% | |
| Max Drawdown | -99.9% | -56.5% | |
| Fund Family | ProShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Oct 30, 2007 | Jan 22, 1993 |
EEV vs SPY Performance
ProShares UltraShort MSCI Emerging Markets (EEV) 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 EEV returned -50.21% while SPY returned +23.66%. Year to date, EEV is down 34.84% versus a gain of 13.79% for SPY.
Over three years, EEV compounded at -32.29% per year against +21.40% for SPY; over five years the annualized figures are -16.58% and +13.37% respectively. Across the full 19-year window we track, SPY has the edge at +8.85% annualized vs -25.89%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EEV has been the more volatile fund, with annualized monthly volatility of 37.5% 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 -99.9% for EEV 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 -0.64. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EEV 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, EEV currently yields 8.08% against 1.01% for SPY.
Holdings Overlap
EEV 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, EEV or SPY?
EEV 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, EEV or SPY?
Over the past year EEV returned -50.21% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (19 years), EEV annualized -25.89% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, EEV or SPY?
EEV has been the more volatile fund at 37.5% annualized versus 15.3% for SPY. Worst drawdown: EEV -99.9% vs SPY -56.5%.
Should I hold both EEV and SPY?
EEV and SPY have a monthly-return correlation of -0.64, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EEV and SPY?
EEV and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, EEV or SPY?
EEV yields 8.08% while SPY yields 1.01%, so EEV currently pays the higher dividend yield.
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