RVNL vs SPY
GraniteShares 2x Long RIVN Daily ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, RVNL or SPY?
Multi Alternative 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 | RVNL | SPY |
|---|---|---|
| Expense Ratio | 1.15% | 0.09%Best |
| AUM | $12M | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 2 | 505 |
| YTD Return | -54.95% | +12.47%Best |
| 1Y Return | -28.87% | +17.51%Best |
| 3Y Return (annualized) | - | +21.18% |
| 5Y Return (annualized) | - | +12.88% |
| Volatility (annualized) | 73.1% | 12.1%Best |
| Max Drawdown | -72.9% | -8.9%Best |
| $10,000 over 1.4 years | $9,468 | $14,749Best |
| Fund Family | GraniteShares | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Apr 21, 2025 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: Apr 22, 2025 to Sep 11, 2026 (1.4 years).
RVNL 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 covers the 1.4 years both funds cover.
RVNL vs SPY Performance
GraniteShares 2x Long RIVN Daily ETF (RVNL) 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 RVNL returned -28.87% while SPY returned +17.51%. Year to date, RVNL is down 54.95% versus a gain of 12.47% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RVNL has been the more volatile fund, with annualized monthly volatility of 73.1% compared with 12.1% 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 -72.9% for RVNL 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 0.11. They move largely independently of each other.
Fees and Cost Over Time
RVNL charges 1.15% per year while SPY charges 0.09%. On a $10,000 position that is $115 vs $9 annually, a gap of $106 per year that compounds over a long holding period. On income, RVNL currently yields 0.00% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 1 holding in RVNL and 504 in SPY, totalling 66.7% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 1 positions we hold weights for in RVNL and 504 in SPY, against full books of 2 and 505.
You are not choosing between two funds in isolation.
Whichever of RVNL 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, RVNL or SPY?
RVNL has an expense ratio of 1.15% while SPY charges 0.09%. SPY is the cheaper option, by $106 a year on a $10,000 investment.
Which performed better, RVNL or SPY?
Over the past year RVNL returned -28.87% vs +17.51% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), RVNL annualized -3.83% vs +31.99% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RVNL or SPY?
RVNL has been the more volatile fund at 73.1% annualized versus 12.1% for SPY. Worst drawdown: RVNL -72.9% vs SPY -8.9%.
Should I hold both RVNL and SPY?
RVNL and SPY have a monthly-return correlation of 0.11, 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, RVNL or SPY?
RVNL yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than RVNL?
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.