NVDD vs SPY
Direxion Daily NVDA Bear 1X 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 503 holdings.
Side-by-Side Comparison
| Metric | NVDD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.01% | 0.09% | |
| AUM | $21M | $789.1B | |
| Dividend Yield | 2.67% | 1.01% | |
| Holdings | 9 | 505 | |
| YTD Return | -17.03% | +13.75% | |
| 1Y Return | -20.73% | +22.91% | |
| 3Y Return (annualized) | -49.30% | +21.67% | |
| 5Y Return (annualized) | - | +13.32% | |
| Volatility (annualized) | 32.3% | 15.3% | |
| Max Drawdown | -88.3% | -56.5% | |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Sep 13, 2023 | Jan 22, 1993 |
NVDD vs SPY Performance
Direxion Daily NVDA Bear 1X ETF (NVDD) is a ETF from Direxion Shares ETF Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NVDD returned -20.73% while SPY returned +22.91%. Year to date, NVDD is down 17.03% versus a gain of 13.75% for SPY.
Over three years, NVDD compounded at -49.30% per year against +21.67% for SPY. Across the full 3-year window we track, SPY has the edge at +8.85% annualized vs -49.30%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NVDD has been the more volatile fund, with annualized monthly volatility of 32.3% 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 -88.3% for NVDD 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 -0.65. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NVDD charges 1.01% per year while SPY charges 0.09%. On a $10,000 position that is $101 vs $9 annually, a gap of $92 per year that compounds over a long holding period. On income, NVDD currently yields 2.67% against 1.01% for SPY.
Holdings Overlap
NVDD and SPY share 0 holdings out of 507 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, NVDD or SPY?
NVDD has an expense ratio of 1.01% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $92 per year of difference.
Which performed better, NVDD or SPY?
Over the past year NVDD returned -20.73% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), NVDD annualized -49.30% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, NVDD or SPY?
NVDD has been the more volatile fund at 32.3% annualized versus 15.3% for SPY. Worst drawdown: NVDD -88.3% vs SPY -56.5%.
Should I hold both NVDD and SPY?
NVDD and SPY have a monthly-return correlation of -0.65, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NVDD and SPY?
NVDD and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, NVDD or SPY?
NVDD yields 2.67% while SPY yields 1.01%, so NVDD currently pays the higher dividend yield.
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