SPDN vs VOO
Direxion Daily S&P 500 Bear 1X ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPDN | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.48% | 0.03% | |
| AUM | $209M | $979.0B | |
| Dividend Yield | 3.34% | 1.09% | |
| Holdings | 5 | 509 | |
| YTD Return | -9.32% | +13.72% | |
| 1Y Return | -12.87% | +21.63% | |
| 3Y Return (annualized) | -12.68% | +21.55% | |
| 5Y Return (annualized) | -8.36% | +13.26% | |
| Volatility (annualized) | 14.6% | 14.1% | |
| Max Drawdown | -76.7% | -34.3% | |
| Fund Family | Direxion Shares ETF Trust | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Jun 8, 2016 | Sep 7, 2010 |
SPDN vs VOO Performance
Direxion Daily S&P 500 Bear 1X ETF (SPDN) is a ETF from Direxion Shares ETF Trust and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year SPDN returned -12.87% while VOO returned +21.63%. Year to date, SPDN is down 9.32% versus a gain of 13.72% for VOO.
Over three years, SPDN compounded at -12.68% per year against +21.55% for VOO; over five years the annualized figures are -8.36% and +13.26% respectively. Across the full 10-year window we track, VOO has the edge at +13.56% annualized vs -12.86%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPDN has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 14.1% for VOO. 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 -76.7% for SPDN and -34.3% for VOO. 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 -0.98. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPDN charges 0.48% per year while VOO charges 0.03%. On a $10,000 position that is $48 vs $3 annually, a gap of $45 per year that compounds over a long holding period. On income, SPDN currently yields 3.34% against 1.09% for VOO.
Holdings Overlap
SPDN and VOO 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, SPDN or VOO?
SPDN has an expense ratio of 0.48% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $45 per year of difference.
Which performed better, SPDN or VOO?
Over the past year SPDN returned -12.87% vs +21.63% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (10 years), SPDN annualized -12.86% vs +13.56% for VOO. Past performance does not guarantee future results.
Which is riskier, SPDN or VOO?
SPDN has been the more volatile fund at 14.6% annualized versus 14.1% for VOO. Worst drawdown: SPDN -76.7% vs VOO -34.3%.
Should I hold both SPDN and VOO?
SPDN and VOO have a monthly-return correlation of -0.98, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPDN and VOO?
SPDN and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, SPDN or VOO?
SPDN yields 3.34% while VOO yields 1.09%, so SPDN currently pays the higher dividend yield.
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