SPCL vs SPY
Defiance Daily 2X Space ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SPCL or SPY?
Trading-Leveraged Equity against Large Cap Blend.
SPY has a lower expense ratio. SPCL led over the full window, SPY over 1Y.
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 | SPCL | SPY |
|---|---|---|
| Expense Ratio | 1.31% | 0.09%Best |
| AUM | $14M | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 28 | 505 |
| YTD Return | -31.70% | +12.09%Best |
| 1Y Return | -31.70% | +16.29%Best |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +13.37% |
| Volatility (annualized) | 5867156.9% | 14.6%Best |
| Max Drawdown | - | -34.1% |
| $10,000 over 12.6 years | $321,204Best | $44,605 |
| Fund Family | Defiance ETFs, LLC | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Trading-Leveraged Equity | Large Cap Blend |
| Inception | Apr 7, 2026 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 12.6 years row, are measured over the window both funds cover: Feb 18, 2014 to Sep 18, 2026 (12.6 years).
SPCL 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
SPCL vs SPY Performance
Defiance Daily 2X Space ETF (SPCL) is an ETF from Defiance ETFs, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SPCL returned -31.70% while SPY returned +16.29%. Year to date, SPCL is down 31.70% versus a gain of 12.09% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPCL has been the more volatile fund, with annualized monthly volatility of 5867156.9% compared with 14.6% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.40. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPCL charges 1.31% per year while SPY charges 0.09%. On a $10,000 position that is $131 vs $9 annually, a gap of $122 per year that compounds over a long holding period. On income, SPCL currently yields 0.00% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 1 holding in SPCL and 504 in SPY, totalling 9.0% and 99.9% 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 SPCL and 504 in SPY, against full books of 28 and 505.
You are not choosing between two funds in isolation.
Whichever of SPCL 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, SPCL or SPY?
SPCL has an expense ratio of 1.31% while SPY charges 0.09%. SPY is the cheaper option, by $122 a year on a $10,000 investment.
Which performed better, SPCL or SPY?
Over the past year SPCL returned -31.70% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (13 years), SPCL annualized +31.70% vs +12.60% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPCL or SPY?
SPCL has been the more volatile fund at 5867156.9% annualized versus 14.6% for SPY.
Should I hold both SPCL and SPY?
SPCL and SPY have a monthly-return correlation of 0.40, 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, SPCL or SPY?
SPCL yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than SPCL?
SPY has a lower expense ratio. SPCL led over the full window, SPY over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.