SIJ vs SPY
ProShares UltraShort Industrials 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 | SIJ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.09% | |
| AUM | $6M | $789.1B | |
| Dividend Yield | 5.11% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | -29.00% | +14.47% | |
| 1Y Return | -33.06% | +21.96% | |
| 3Y Return (annualized) | -29.89% | +21.70% | |
| 5Y Return (annualized) | -20.21% | +13.30% | |
| Volatility (annualized) | 38.0% | 15.3% | |
| Max Drawdown | -100.0% | -56.5% | |
| Fund Family | ProShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jan 30, 2007 | Jan 22, 1993 |
SIJ vs SPY Performance
ProShares UltraShort Industrials (SIJ) 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 SIJ returned -33.06% while SPY returned +21.96%. Year to date, SIJ is down 29.00% versus a gain of 14.47% for SPY.
Over three years, SIJ compounded at -29.89% per year against +21.70% for SPY; over five years the annualized figures are -20.21% and +13.30% respectively. Across the full 20-year window we track, SPY has the edge at +8.87% annualized vs -29.70%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SIJ has been the more volatile fund, with annualized monthly volatility of 38.0% 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 -100.0% for SIJ 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 -0.87. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SIJ 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, SIJ currently yields 5.11% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, SIJ or SPY?
SIJ 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, SIJ or SPY?
Over the past year SIJ returned -33.06% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (20 years), SIJ annualized -29.70% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, SIJ or SPY?
SIJ has been the more volatile fund at 38.0% annualized versus 15.3% for SPY. Worst drawdown: SIJ -100.0% vs SPY -56.5%.
Should I hold both SIJ and SPY?
SIJ and SPY have a monthly-return correlation of -0.87, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, SIJ or SPY?
SIJ yields 5.11% while SPY yields 1.01%, so SIJ currently pays the higher dividend yield.
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