FXP vs SPY
ProShares Ultrashort FTSE China 50 vs State Street SPDR S&P 500 ETF Trust
Which is better, FXP or SPY?
Trading-Inverse Equity against Large Cap Blend.
SPY has a lower expense ratio. FXP led over 1Y, SPY over 3Y, 5Y and the full window.
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 | FXP | SPY |
|---|---|---|
| Expense Ratio | 0.95% | 0.09%Best |
| AUM | $5M | $804.7B |
| Dividend Yield | 3.20% | 0.98% |
| Holdings | 5 | 505 |
| YTD Return | +25.22%Best | +13.82% |
| 1Y Return | +27.00%Best | +16.96% |
| 3Y Return (annualized) | -29.17% | +22.97%Best |
| 5Y Return (annualized) | -21.08% | +13.73%Best |
| Volatility (annualized) | 48.1% | 15.7%Best |
| Max Drawdown | - | -55.2% |
| $10,000 over 5 years | $3,062 | $19,027Best |
| Fund Family | ProShares | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Trading-Inverse Equity | Large Cap Blend |
| Inception | Nov 6, 2007 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 8, 2007 to Sep 21, 2026 (18.9 years).
FXP 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 18.9 years both funds cover.
FXP vs SPY Performance
ProShares Ultrashort FTSE China 50 (FXP) is an ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FXP returned +27.00% while SPY returned +16.96%. Year to date, FXP is up 25.22% versus a gain of 13.82% for SPY.
Over three years, FXP compounded at -29.17% per year against +22.97% for SPY; over five years the annualized figures are -21.08% and +13.73% respectively. Across the full 19-year window we track, SPY has the edge at +9.62% annualized vs -28.27%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FXP has been the more volatile fund, with annualized monthly volatility of 48.1% compared with 15.7% 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 -0.38. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FXP 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, FXP currently yields 3.20% against 0.98% for SPY.
You are not choosing between two funds in isolation.
Whichever of FXP 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, FXP or SPY?
FXP has an expense ratio of 0.95% while SPY charges 0.09%. SPY is the cheaper option, by $86 a year on a $10,000 investment.
Which performed better, FXP or SPY?
Over the past year FXP returned +27.00% vs +16.96% for SPY, so FXP leads on 1-year performance. Over the longest common window we track (19 years), FXP annualized -28.27% vs +9.62% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FXP or SPY?
FXP has been the more volatile fund at 48.1% annualized versus 15.7% for SPY.
Should I hold both FXP and SPY?
FXP and SPY have a monthly-return correlation of -0.38, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FXP or SPY?
FXP yields 3.20% while SPY yields 0.98%, so FXP currently pays the higher dividend yield.
Is SPY better than FXP?
SPY has a lower expense ratio. FXP led over 1Y, SPY over 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.