IVV vs SPDN
iShares Core S&P 500 ETF vs Direxion Daily S&P 500 Bear 1X ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | SPDN | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.48% | |
| AUM | $907.0B | $233M | |
| Dividend Yield | 1.10% | 3.32% | |
| Holdings | 508 | 5 | |
| YTD Return | +13.51% | -8.89% | |
| 1Y Return | +20.65% | -12.19% | |
| 3Y Return (annualized) | +21.94% | -12.98% | |
| 5Y Return (annualized) | +12.95% | -8.07% | |
| Volatility (annualized) | 15.1% | 14.6% | |
| Max Drawdown | -56.5% | -76.8% | |
| Fund Family | iShares by BlackRock (US) | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Jun 8, 2016 |
IVV vs SPDN Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Direxion Daily S&P 500 Bear 1X ETF (SPDN) is a ETF from Direxion Shares ETF Trust. Over the past year IVV returned +20.65% while SPDN returned -12.19%. Year to date, IVV is up 13.51% versus a loss of 8.89% for SPDN.
Over three years, IVV compounded at +21.94% per year against -12.98% for SPDN; over five years the annualized figures are +12.95% and -8.07% respectively. Across the full 10-year window we track, IVV has the edge at +7.02% annualized vs -12.77%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 14.6% for SPDN. 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 -56.5% for IVV and -76.8% for SPDN. 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 -0.98. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while SPDN charges 0.48%. On a $10,000 position that is $3 vs $48 annually, a gap of $45 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 3.32% for SPDN.
Holdings Overlap
IVV and SPDN share 0 holdings out of 508 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, IVV or SPDN?
IVV has an expense ratio of 0.03% while SPDN charges 0.48%. IVV is the cheaper option. On a $10,000 investment, that is $45 per year of difference.
Which performed better, IVV or SPDN?
Over the past year IVV returned +20.65% vs -12.19% for SPDN, so IVV leads on 1-year performance. Over the longest common window we track (10 years), IVV annualized +7.02% vs -12.77% for SPDN. Past performance does not guarantee future results.
Which is riskier, IVV or SPDN?
IVV has been the more volatile fund at 15.1% annualized versus 14.6% for SPDN. Worst drawdown: IVV -56.5% vs SPDN -76.8%.
Should I hold both IVV and SPDN?
IVV and SPDN have a monthly-return correlation of -0.98, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and SPDN?
IVV and SPDN share 0 common holdings with a 0.0% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, IVV or SPDN?
IVV yields 1.10% while SPDN yields 3.32%, so SPDN currently pays the higher dividend yield.
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