PALD vs SPY
Direxion Daily PANW 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 505 holdings.
Side-by-Side Comparison
| Metric | PALD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.02% | 0.09% | |
| AUM | $3M | $821.1B | |
| Dividend Yield | 5.19% | 1.01% | |
| Holdings | 8 | 505 | |
| YTD Return | -58.03% | +14.24% | |
| 1Y Return | -59.45% | +21.71% | |
| 3Y Return (annualized) | - | +22.10% | |
| 5Y Return (annualized) | - | +13.21% | |
| Volatility (annualized) | 47.7% | 15.3% | |
| Max Drawdown | -67.4% | -56.5% | |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Mar 26, 2025 | Jan 22, 1993 |
PALD vs SPY Performance
Direxion Daily PANW Bear 1X ETF (PALD) 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 PALD returned -59.45% while SPY returned +21.71%. Year to date, PALD is down 58.03% versus a gain of 14.24% for SPY.
Risk: Volatility and Drawdowns
PALD has been the more volatile fund, with annualized monthly volatility of 47.7% 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 -67.4% for PALD 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 -0.28. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PALD charges 1.02% per year while SPY charges 0.09%. On a $10,000 position that is $102 vs $9 annually, a gap of $93 per year that compounds over a long holding period. On income, PALD currently yields 5.19% against 1.01% for SPY.
Holdings Overlap
PALD and SPY share 0 holdings out of 508 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, PALD or SPY?
PALD has an expense ratio of 1.02% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $93 per year of difference.
Which performed better, PALD or SPY?
Over the past year PALD returned -59.45% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), PALD annualized -46.75% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, PALD or SPY?
PALD has been the more volatile fund at 47.7% annualized versus 15.3% for SPY. Worst drawdown: PALD -67.4% vs SPY -56.5%.
Should I hold both PALD and SPY?
PALD and SPY have a monthly-return correlation of -0.28, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PALD and SPY?
PALD and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, PALD or SPY?
PALD yields 5.19% while SPY yields 1.01%, so PALD currently pays the higher dividend yield.
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