SPDN vs VYM
Direxion Daily S&P 500 Bear 1X ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | SPDN | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.48% | 0.04% | |
| AUM | $209M | $79.0B | |
| Dividend Yield | 3.34% | 2.86% | |
| Holdings | 5 | 568 | |
| YTD Return | -9.42% | +16.10% | |
| 1Y Return | -13.92% | +25.99% | |
| 3Y Return (annualized) | -12.87% | +18.29% | |
| 5Y Return (annualized) | -8.49% | +12.35% | |
| Volatility (annualized) | 14.6% | 14.6% | |
| Max Drawdown | -76.7% | -58.8% | |
| Fund Family | Direxion Shares ETF Trust | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Jun 8, 2016 | Nov 10, 2006 |
SPDN vs VYM Performance
Direxion Daily S&P 500 Bear 1X ETF (SPDN) is a ETF from Direxion Shares ETF Trust and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year SPDN returned -13.92% while VYM returned +25.99%. Year to date, SPDN is down 9.42% versus a gain of 16.10% for VYM.
Over three years, SPDN compounded at -12.87% per year against +18.29% for VYM; over five years the annualized figures are -8.49% and +12.35% respectively. Across the full 10-year window we track, VYM has the edge at +7.08% annualized vs -12.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 14.6% for SPDN. 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 -58.8% for VYM. 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 -0.86. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPDN charges 0.48% per year while VYM charges 0.04%. On a $10,000 position that is $48 vs $4 annually, a gap of $44 per year that compounds over a long holding period. On income, SPDN currently yields 3.34% against 2.86% for VYM.
Holdings Overlap
SPDN and VYM share 0 holdings out of 561 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 VYM?
SPDN has an expense ratio of 0.48% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $44 per year of difference.
Which performed better, SPDN or VYM?
Over the past year SPDN returned -13.92% vs +25.99% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (10 years), SPDN annualized -12.87% vs +7.08% for VYM. Past performance does not guarantee future results.
Which is riskier, SPDN or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 14.6% for SPDN. Worst drawdown: SPDN -76.7% vs VYM -58.8%.
Should I hold both SPDN and VYM?
SPDN and VYM have a monthly-return correlation of -0.86, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPDN and VYM?
SPDN and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 561 unique securities.
Which pays a higher dividend, SPDN or VYM?
SPDN yields 3.34% while VYM yields 2.86%, so SPDN currently pays the higher dividend yield.
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