MYY vs SPY
ProShares Short MidCap400 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 | MYY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.09% | |
| AUM | $3M | $821.1B | |
| Dividend Yield | 4.28% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | -11.35% | +12.68% | |
| 1Y Return | -15.02% | +21.82% | |
| 3Y Return (annualized) | -10.34% | +21.98% | |
| 5Y Return (annualized) | -6.48% | +12.89% | |
| Volatility (annualized) | 18.0% | 15.3% | |
| Max Drawdown | -96.0% | -56.5% | |
| Fund Family | ProShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jun 19, 2006 | Jan 22, 1993 |
MYY vs SPY Performance
ProShares Short MidCap400 (MYY) is a ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MYY returned -15.02% while SPY returned +21.82%. Year to date, MYY is down 11.35% versus a gain of 12.68% for SPY.
Over three years, MYY compounded at -10.34% per year against +21.98% for SPY; over five years the annualized figures are -6.48% and +12.89% respectively. Across the full 20-year window we track, SPY has the edge at +8.81% annualized vs -12.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MYY has been the more volatile fund, with annualized monthly volatility of 18.0% 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 -96.0% for MYY 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 -0.89. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MYY 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, MYY currently yields 4.28% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, MYY or SPY?
MYY 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, MYY or SPY?
Over the past year MYY returned -15.02% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (20 years), MYY annualized -12.79% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, MYY or SPY?
MYY has been the more volatile fund at 18.0% annualized versus 15.3% for SPY. Worst drawdown: MYY -96.0% vs SPY -56.5%.
Should I hold both MYY and SPY?
MYY and SPY have a monthly-return correlation of -0.89, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, MYY or SPY?
MYY yields 4.28% while SPY yields 1.01%, so MYY currently pays the higher dividend yield.
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