MAGX vs SPY
Roundhill Daily 2X Long Magnificent Seven ETF 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 505 holdings.
Side-by-Side Comparison
| Metric | MAGX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.09% | |
| AUM | $64M | $821.1B | |
| Dividend Yield | 1.59% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | -3.10% | +12.22% | |
| 1Y Return | +15.71% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 44.0% | 15.3% | |
| Max Drawdown | -54.2% | -56.5% | |
| Fund Family | Roundhill Investments | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Feb 29, 2024 | Jan 22, 1993 |
MAGX vs SPY Performance
Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) is a ETF from Roundhill Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MAGX returned +15.71% while SPY returned +20.83%. Year to date, MAGX is down 3.10% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
MAGX has been the more volatile fund, with annualized monthly volatility of 44.0% 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 -54.2% for MAGX 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MAGX 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, MAGX currently yields 1.59% against 1.01% for SPY.
Holdings Overlap
MAGX and SPY share 0 holdings out of 506 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, MAGX or SPY?
MAGX 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, MAGX or SPY?
Over the past year MAGX returned +15.71% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), MAGX annualized +35.49% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, MAGX or SPY?
MAGX has been the more volatile fund at 44.0% annualized versus 15.3% for SPY. Worst drawdown: MAGX -54.2% vs SPY -56.5%.
Should I hold both MAGX and SPY?
MAGX and SPY have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MAGX and SPY?
MAGX and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, MAGX or SPY?
MAGX yields 1.59% while SPY yields 1.01%, so MAGX currently pays the higher dividend yield.
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