SPGM vs TYO
State Street SPDR Portfolio MSCI Global Stock Market ETF vs Direxion Daily 7-10 Year Treasury Bear 3X ETF
Quick Verdict
SPGM has a lower expense ratio. SPGM delivered stronger 1-year returns. SPGM offers more diversification with 2846 holdings.
Side-by-Side Comparison
| Metric | SPGM | TYO | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 1.00% | |
| AUM | $1.7B | $12M | |
| Dividend Yield | 1.80% | 2.62% | |
| Holdings | 2,985 | 6 | |
| YTD Return | +15.55% | +10.49% | |
| 1Y Return | +25.40% | +10.96% | |
| 3Y Return (annualized) | +21.36% | +4.52% | |
| 5Y Return (annualized) | +11.64% | +14.85% | |
| Volatility (annualized) | 13.7% | 19.3% | |
| Max Drawdown | -34.0% | -90.4% | |
| Fund Family | SPDR State Street Global Advisors | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | Feb 27, 2012 | Apr 16, 2009 |
SPGM vs TYO Performance
State Street SPDR Portfolio MSCI Global Stock Market ETF (SPGM) is a ETF from SPDR State Street Global Advisors and Direxion Daily 7-10 Year Treasury Bear 3X ETF (TYO) is a ETF from Direxion Shares ETF Trust. Over the past year SPGM returned +25.40% while TYO returned +10.96%. Year to date, SPGM is up 15.55% versus a gain of 10.49% for TYO.
Over three years, SPGM compounded at +21.36% per year against +4.52% for TYO; over five years the annualized figures are +11.64% and +14.85% respectively. Across the full 15-year window we track, SPGM has the edge at +9.96% annualized vs -7.27%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TYO has been the more volatile fund, with annualized monthly volatility of 19.3% compared with 13.7% for SPGM. 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 -34.0% for SPGM and -90.4% for TYO. 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 -0.12. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPGM charges 0.09% per year while TYO charges 1.00%. On a $10,000 position that is $9 vs $100 annually, a gap of $91 per year that compounds over a long holding period. On income, SPGM currently yields 1.80% against 2.62% for TYO.
Holdings Overlap
SPGM and TYO share 0 holdings out of 2849 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, SPGM or TYO?
SPGM has an expense ratio of 0.09% while TYO charges 1.00%. SPGM is the cheaper option. On a $10,000 investment, that is $91 per year of difference.
Which performed better, SPGM or TYO?
Over the past year SPGM returned +25.40% vs +10.96% for TYO, so SPGM leads on 1-year performance. Over the longest common window we track (15 years), SPGM annualized +9.96% vs -7.27% for TYO. Past performance does not guarantee future results.
Which is riskier, SPGM or TYO?
TYO has been the more volatile fund at 19.3% annualized versus 13.7% for SPGM. Worst drawdown: SPGM -34.0% vs TYO -90.4%.
Should I hold both SPGM and TYO?
SPGM and TYO have a monthly-return correlation of -0.12, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPGM and TYO?
SPGM and TYO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 2849 unique securities.
Which pays a higher dividend, SPGM or TYO?
SPGM yields 1.80% while TYO yields 2.62%, so TYO currently pays the higher dividend yield.
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