ERX vs SPY
Direxion Daily Energy Bull 2X ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, ERX or SPY?
Trading-Leveraged Equity against Large Cap Blend.
SPY has a lower expense ratio. ERX led over 1Y and 5Y, SPY over 3Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 75.7%.
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 | ERX | SPY |
|---|---|---|
| Expense Ratio | 0.91% | 0.09%Best |
| AUM | $241M | $814.4B |
| Dividend Yield | 1.49% | 1.01% |
| Holdings | 29 | 505 |
| YTD Return | +88.39%Best | +13.34% |
| 1Y Return | +98.80%Best | +19.97% |
| 3Y Return (annualized) | +19.51% | +21.20%Best |
| 5Y Return (annualized) | +40.86%Best | +12.81% |
| Volatility (annualized) | 65.5% | 14.8%Best |
| Max Drawdown | - | -34.1% |
| $10,000 over 5 years | $55,455Best | $18,270 |
| Top 10 Weight | 75.7% | 38.0%Best |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Trading-Leveraged Equity | Large Cap Blend |
| Inception | Nov 6, 2008 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 6, 2008 to Sep 4, 2026 (17.8 years).
ERX 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 17.8 years both funds cover.
ERX vs SPY Performance
Direxion Daily Energy Bull 2X ETF (ERX) 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 ERX returned +98.80% while SPY returned +19.97%. Year to date, ERX is up 88.39% versus a gain of 13.34% for SPY.
Over three years, ERX compounded at +19.51% per year against +21.20% for SPY; over five years the annualized figures are +40.86% and +12.81% respectively. Across the full 18-year window we track, SPY has the edge at +13.21% annualized vs -7.21%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ERX has been the more volatile fund, with annualized monthly volatility of 65.5% compared with 14.8% 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 0.63. They move together some of the time, and apart the rest.
Fees and Cost Over Time
ERX charges 0.91% per year while SPY charges 0.09%. On a $10,000 position that is $91 vs $9 annually, a gap of $82 per year that compounds over a long holding period. On income, ERX currently yields 1.49% against 1.01% for SPY.
Holdings Overlap
71.8% of ERX's money is in holdings SPY also owns. 3.2% of SPY's money is in holdings ERX also owns.
Most of ERX is already inside SPY. Owning both mostly buys the same companies twice.
21 positions in common, counted across the 23 positions we hold weights for in ERX and 504 in SPY, against full books of 29 and 505.
What only one of them owns
Our book lists 475 positions for SPY that do not appear in our book for ERX (96.3% of the fund), and 2 for ERX that do not appear in SPY (28.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in ERX | Weight in SPY | Difference |
|---|---|---|---|
| XOMExxon Mobil Corp. | 14.96% | 0.96% | 14.00% |
| CVXChevron Corp | 10.83% | 0.54% | 10.29% |
| COPConocophillips Common Stock USD 0.01 | 4.37% | 0.22% | 4.15% |
| MPCMarathon Petroleum Corp | 3.57% | 0.14% | 3.43% |
| PSXPhillips 66 | 3.51% | 0.12% | 3.39% |
| VLOValero Energy | 3.44% | 0.14% | 3.30% |
| SLBSchlumberger Nv. | 3.25% | 0.11% | 3.14% |
| EOGEog Resources Inc | 3.22% | 0.11% | 3.11% |
| WMBWilliams Cos. Inc. | 2.83% | 0.13% | 2.70% |
| KMIKinder Morgan Inc./de | 2.80% | 0.09% | 2.71% |
71.8% of ERX is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ERX or SPY?
ERX has an expense ratio of 0.91% while SPY charges 0.09%. SPY is the cheaper option, by $82 a year on a $10,000 investment.
Which performed better, ERX or SPY?
Over the past year ERX returned +98.80% vs +19.97% for SPY, so ERX leads on 1-year performance. Over the longest common window we track (18 years), ERX annualized -7.21% vs +13.21% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ERX or SPY?
ERX has been the more volatile fund at 65.5% annualized versus 14.8% for SPY.
Should I hold both ERX and SPY?
ERX and SPY have a monthly-return correlation of 0.63, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between ERX and SPY?
71.8% of ERX's money is in holdings SPY also owns. 3.2% of SPY's is in holdings ERX also owns. They hold 21 positions in common, counted across the 23 positions we hold weights for in ERX and 504 in SPY.
Which pays a higher dividend, ERX or SPY?
ERX yields 1.49% while SPY yields 1.01%, so ERX currently pays the higher dividend yield.
Is SPY better than ERX?
SPY has a lower expense ratio. ERX led over 1Y and 5Y, SPY over 3Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 75.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.