SMUP vs SPY
T-REX 2X Long SMR Daily Target 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 | SMUP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.50% | 0.09% | |
| AUM | $9M | $821.1B | |
| Dividend Yield | 4.93% | 1.01% | |
| Holdings | 3 | 505 | |
| YTD Return | +293.36% | +12.22% | |
| 1Y Return | -54.01% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 2755.1% | 15.3% | |
| Max Drawdown | -98.8% | -56.5% | |
| Fund Family | REX Shares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jul 25, 2025 | Jan 22, 1993 |
SMUP vs SPY Performance
T-REX 2X Long SMR Daily Target ETF (SMUP) is a ETF from REX Shares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SMUP returned -54.01% while SPY returned +20.83%. Year to date, SMUP is up 293.36% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
SMUP has been the more volatile fund, with annualized monthly volatility of 2755.1% 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 -98.8% for SMUP 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 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SMUP 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, SMUP currently yields 4.93% against 1.01% for SPY.
Holdings Overlap
SMUP and SPY share 0 holdings out of 505 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, SMUP or SPY?
SMUP has an expense ratio of 1.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $141 per year of difference.
Which performed better, SMUP or SPY?
Over the past year SMUP returned -54.01% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), SMUP annualized -79.33% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, SMUP or SPY?
SMUP has been the more volatile fund at 2755.1% annualized versus 15.3% for SPY. Worst drawdown: SMUP -98.8% vs SPY -56.5%.
Should I hold both SMUP and SPY?
SMUP and SPY have a monthly-return correlation of 0.75, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SMUP and SPY?
SMUP and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, SMUP or SPY?
SMUP yields 4.93% while SPY yields 1.01%, so SMUP currently pays the higher dividend yield.
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