MIDU vs SPY
Direxion Daily Mid Cap Bull 3X ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, MIDU or SPY?
Trading-Leveraged Equity against Large Cap Blend.
SPY has a lower expense ratio. MIDU led over 1Y, 3Y and the full window, SPY over 5Y. The two have moved almost in lockstep, correlation 0.90. MIDU is less concentrated, with 28.4% of the fund in its ten largest positions against 38.0%.
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 | MIDU | SPY |
|---|---|---|
| Expense Ratio | 0.98% | 0.09%Best |
| AUM | $66M | $804.7B |
| Dividend Yield | 0.52% | 0.98% |
| Holdings | 406 | 505 |
| YTD Return | +24.14%Best | +12.47% |
| 1Y Return | +22.70%Best | +17.51% |
| 3Y Return (annualized) | +21.62%Best | +21.18% |
| 5Y Return (annualized) | +2.14% | +12.88%Best |
| Volatility (annualized) | 53.3% | 14.8%Best |
| Max Drawdown | -86.5% | -34.1%Best |
| $10,000 over 5 years | $11,117 | $18,327Best |
| Top 10 Weight | 28.4%Best | 38.0% |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Trading-Leveraged Equity | Large Cap Blend |
| Inception | Jan 8, 2009 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jan 8, 2009 to Sep 11, 2026 (17.7 years).
MIDU 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 17.7 years both funds cover.
MIDU vs SPY Performance
Direxion Daily Mid Cap Bull 3X ETF (MIDU) 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 MIDU returned +22.70% while SPY returned +17.51%. Year to date, MIDU is up 24.14% versus a gain of 12.47% for SPY.
Over three years, MIDU compounded at +21.62% per year against +21.18% for SPY; over five years the annualized figures are +2.14% and +12.88% respectively. Across the full 18-year window we track, MIDU has the edge at +15.86% annualized vs +13.27%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MIDU has been the more volatile fund, with annualized monthly volatility of 53.3% compared with 14.8% 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 -86.5% for MIDU and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MIDU charges 0.98% per year while SPY charges 0.09%. On a $10,000 position that is $98 vs $9 annually, a gap of $89 per year that compounds over a long holding period. On income, MIDU currently yields 0.52% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 399 holdings in MIDU and 504 in SPY, totalling 95.3% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 399 positions we hold weights for in MIDU and 504 in SPY, against full books of 406 and 505.
What only one of them owns
Our book lists 494 positions for SPY that do not appear in our book for MIDU (99.5% of the fund), and 391 for MIDU that do not appear in SPY (92.7%).
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.
You are not choosing between two funds in isolation.
Whichever of MIDU 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, MIDU or SPY?
MIDU has an expense ratio of 0.98% while SPY charges 0.09%. SPY is the cheaper option, by $89 a year on a $10,000 investment.
Which performed better, MIDU or SPY?
Over the past year MIDU returned +22.70% vs +17.51% for SPY, so MIDU leads on 1-year performance. Over the longest common window we track (18 years), MIDU annualized +15.86% vs +13.27% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MIDU or SPY?
MIDU has been the more volatile fund at 53.3% annualized versus 14.8% for SPY. Worst drawdown: MIDU -86.5% vs SPY -34.1%.
Should I hold both MIDU and SPY?
MIDU and SPY have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, MIDU or SPY?
MIDU yields 0.52% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than MIDU?
SPY has a lower expense ratio. MIDU led over 1Y, 3Y and the full window, SPY over 5Y. The two have moved almost in lockstep, correlation 0.90. MIDU is less concentrated, with 28.4% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.