NBIL vs SPY
GraniteShares 2x Long NBIS Daily ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, NBIL or SPY?
Trading-Leveraged Equity against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
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 | NBIL | SPY |
|---|---|---|
| Expense Ratio | 1.50% | 0.09%Best |
| AUM | $196M | $811.2B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 4 | 1,515 |
| YTD Return | +97.11%Best | +14.79% |
| 1Y Return | -29.54% | +18.62%Best |
| 3Y Return (annualized) | - | +23.21% |
| 5Y Return (annualized) | - | +13.92% |
| Volatility (annualized) | 196.7% | 13.2%Best |
| Max Drawdown | -78.8% | -8.9%Best |
| $10,000 over 1 years | $9,242 | $11,730Best |
| Fund Family | GraniteShares | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Trading-Leveraged Equity | Large Cap Blend |
| Inception | Oct 7, 2025 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1 years row, are measured over the window both funds cover: Oct 7, 2025 to Oct 12, 2026 (1 years).
NBIL 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
NBIL vs SPY Performance
GraniteShares 2x Long NBIS Daily ETF (NBIL) is an ETF from GraniteShares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year NBIL returned -29.54% while SPY returned +18.62%. Year to date, NBIL is up 97.11% versus a gain of 14.79% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NBIL has been the more volatile fund, with annualized monthly volatility of 196.7% compared with 13.2% 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 -78.8% for NBIL and -8.9% 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 0.49. They move together some of the time, and apart the rest.
Fees and Cost Over Time
NBIL 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, NBIL currently yields 0.00% against 0.98% for SPY.
You are not choosing between two funds in isolation.
Whichever of NBIL 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, NBIL or SPY?
NBIL has an expense ratio of 1.50% while SPY charges 0.09%. SPY is the cheaper option, by $141 a year on a $10,000 investment.
Which performed better, NBIL or SPY?
Over the past year NBIL returned -29.54% vs +18.62% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), NBIL annualized -7.58% vs +17.30% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NBIL or SPY?
NBIL has been the more volatile fund at 196.7% annualized versus 13.2% for SPY. Worst drawdown: NBIL -78.8% vs SPY -8.9%.
Should I hold both NBIL and SPY?
NBIL and SPY have a monthly-return correlation of 0.49, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, NBIL or SPY?
NBIL yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than NBIL?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.