LMTL vs SPY
Direxion Daily LMT Bull 2X ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. LMTL delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | LMTL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.07% | 0.09% | |
| AUM | $6M | $814.4B | |
| Dividend Yield | 3.47% | 1.01% | |
| Holdings | 9 | 505 | |
| YTD Return | +4.68% | +13.78% | |
| 1Y Return | +23.92% | +21.44% | |
| 3Y Return (annualized) | - | +21.38% | |
| 5Y Return (annualized) | - | +12.80% | |
| Volatility (annualized) | 85.6% | 15.2% | |
| Max Drawdown | -49.3% | -56.5% | |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Aug 6, 2025 | Jan 22, 1993 |
LMTL vs SPY Performance
Direxion Daily LMT Bull 2X ETF (LMTL) is a ETF from Direxion Shares ETF Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year LMTL returned +23.92% while SPY returned +21.44%. Year to date, LMTL is up 4.68% versus a gain of 13.78% for SPY.
Risk: Volatility and Drawdowns
LMTL has been the more volatile fund, with annualized monthly volatility of 85.6% compared with 15.2% 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 -49.3% for LMTL 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 -0.13. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
LMTL charges 1.07% per year while SPY charges 0.09%. On a $10,000 position that is $107 vs $9 annually, a gap of $98 per year that compounds over a long holding period. On income, LMTL currently yields 3.47% against 1.01% for SPY.
Holdings Overlap
LMTL and SPY share 1 holdings out of 507 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in LMTL | Weight in SPY | Difference |
|---|---|---|---|
| LMT | 13.47% | 0.18% | 13.29% |
Frequently Asked Questions
Which is cheaper, LMTL or SPY?
LMTL has an expense ratio of 1.07% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $98 per year of difference.
Which performed better, LMTL or SPY?
Over the past year LMTL returned +23.92% vs +21.44% for SPY, so LMTL leads on 1-year performance. Over the longest common window we track (1 years), LMTL annualized +29.98% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, LMTL or SPY?
LMTL has been the more volatile fund at 85.6% annualized versus 15.2% for SPY. Worst drawdown: LMTL -49.3% vs SPY -56.5%.
Should I hold both LMTL and SPY?
LMTL and SPY have a monthly-return correlation of -0.13, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between LMTL and SPY?
LMTL and SPY share 1 common holdings with a 0.2% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, LMTL or SPY?
LMTL yields 3.47% while SPY yields 1.01%, so LMTL currently pays the higher dividend yield.
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