MVLL vs SPY
GraniteShares 2x Long MRVL Daily ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MVLL delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | MVLL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.50% | 0.09% | |
| AUM | $224M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 2 | 505 | |
| YTD Return | +251.70% | +14.47% | |
| 1Y Return | +258.69% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 187.3% | 15.3% | |
| Max Drawdown | -78.9% | -56.5% | |
| Fund Family | GraniteShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Mar 3, 2025 | Jan 22, 1993 |
MVLL vs SPY Performance
GraniteShares 2x Long MRVL Daily ETF (MVLL) is a ETF from GraniteShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MVLL returned +258.69% while SPY returned +21.96%. Year to date, MVLL is up 251.70% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
MVLL has been the more volatile fund, with annualized monthly volatility of 187.3% 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 -78.9% for MVLL 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 0.55. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MVLL charges 1.50% per year while SPY charges 0.09%. On a $10,000 position that is $150 vs $9 annually, a gap of $141 per year that compounds over a long holding period. On income, MVLL currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
MVLL and SPY share 1 holdings out of 503 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in MVLL | Weight in SPY | Difference |
|---|---|---|---|
| MRVL | 66.67% | 0.34% | 66.33% |
Frequently Asked Questions
Which is cheaper, MVLL or SPY?
MVLL has an expense ratio of 1.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $141 per year of difference.
Which performed better, MVLL or SPY?
Over the past year MVLL returned +258.69% vs +21.96% for SPY, so MVLL leads on 1-year performance. Over the longest common window we track (1 years), MVLL annualized +138.54% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, MVLL or SPY?
MVLL has been the more volatile fund at 187.3% annualized versus 15.3% for SPY. Worst drawdown: MVLL -78.9% vs SPY -56.5%.
Should I hold both MVLL and SPY?
MVLL and SPY have a monthly-return correlation of 0.55, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MVLL and SPY?
MVLL and SPY share 1 common holdings with a 0.3% weight overlap. Combined, they hold 503 unique securities.
Which pays a higher dividend, MVLL or SPY?
MVLL yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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