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 616 holdings.
Side-by-Side Comparison
| Metric | SPDN | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.48% | 0.04% | |
| AUM | $233M | $81.6B | |
| Dividend Yield | 3.32% | 2.24% | |
| Holdings | 5 | 616 | |
| YTD Return | -8.78% | +14.84% | |
| 1Y Return | -11.73% | +20.88% | |
| 3Y Return (annualized) | -12.52% | +18.34% | |
| 5Y Return (annualized) | -7.97% | +12.04% | |
| Volatility (annualized) | 14.6% | 14.6% | |
| Max Drawdown | -76.8% | -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 -11.73% while VYM returned +20.88%. Year to date, SPDN is down 8.78% versus a gain of 14.84% for VYM.
Over three years, SPDN compounded at -12.52% per year against +18.34% for VYM; over five years the annualized figures are -7.97% and +12.04% respectively. Across the full 10-year window we track, VYM has the edge at +7.01% annualized vs -12.76%. 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 -76.8% 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 3.32% against 2.24% for VYM.
Holdings Overlap
SPDN and VYM share 0 holdings out of 606 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 -11.73% vs +20.88% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (10 years), SPDN annualized -12.76% vs +7.01% 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 -76.8% 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 606 unique securities.
Which pays a higher dividend, SPDN or VYM?
SPDN yields 3.32% while VYM yields 2.24%, so SPDN currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.