SPXL vs VYM
Direxion Daily S&P 500 Bull 3X ETF vs Vanguard High Dividend Yield ETF
Which is better, SPXL or VYM?
Multi Alternative against Large Cap Value.
VYM has a lower expense ratio. SPXL led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 48.3%.
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 | SPXL | VYM |
|---|---|---|
| Expense Ratio | 0.84% | 0.04%Best |
| AUM | $6.8B | $81.6B |
| Dividend Yield | 0.50% | 2.22% |
| Holdings | 515 | 613 |
| YTD Return | +24.73%Best | +12.87% |
| 1Y Return | +34.17%Best | +17.25% |
| 3Y Return (annualized) | +47.49%Best | +17.66% |
| 5Y Return (annualized) | +18.75%Best | +11.98% |
| Volatility (annualized) | 46.0% | 14.2%Best |
| Max Drawdown | -76.9% | -35.7%Best |
| $10,000 over 5 years | $23,614Best | $17,608 |
| Top 10 Weight | 48.3% | 26.1%Best |
| Fund Family | Direxion Shares ETF Trust | Vanguard (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Value |
| Inception | Nov 5, 2008 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Nov 5, 2008 to Sep 15, 2026 (17.9 years).
SPXL vs VYM 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.
SPXL vs VYM Performance
Direxion Daily S&P 500 Bull 3X ETF (SPXL) is an ETF from Direxion Shares ETF Trust and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year SPXL returned +34.17% while VYM returned +17.25%. Year to date, SPXL is up 24.73% versus a gain of 12.87% for VYM.
Over three years, SPXL compounded at +47.49% per year against +17.66% for VYM; over five years the annualized figures are +18.75% and +11.98% respectively. Across the full 18-year window we track, SPXL has the edge at +28.27% annualized vs +9.87%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 46.0% compared with 14.2% for VYM. 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 -76.9% for SPXL and -35.7% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPXL charges 0.84% per year while VYM charges 0.04%. On a $10,000 position that is $84 vs $4 annually, a gap of $80 per year that compounds over a long holding period. On income, SPXL currently yields 0.50% against 2.22% for VYM.
Holdings Overlap
25.5% of SPXL's money is in holdings VYM also owns. 90.5% of VYM's money is in holdings SPXL also owns.
Most of VYM is already inside SPXL. Owning both mostly buys the same companies twice.
251 positions in common, counted across the 506 positions we hold weights for in SPXL and 557 in VYM, against full books of 515 and 613.
What only one of them owns
Our book lists 278 positions for VYM that do not appear in our book for SPXL (6.8% of the fund), and 251 for SPXL that do not appear in VYM (72.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SPXL | Weight in VYM | Difference |
|---|---|---|---|
| AVGOBroadcom Inc | 1.97% | 7.35% | 5.38% |
| JPMJpmorgan Chase | 1.07% | 3.82% | 2.75% |
| XOMExxon Mobil Corp. | 0.77% | 2.63% | 1.86% |
| JNJJohnson & Johnson - Common | 0.74% | 2.51% | 1.77% |
| CSCOCisco Systems Inc. - Ordinary Shares | 0.49% | 1.86% | 1.37% |
| ABBVAbbvie Inc. | 0.52% | 1.80% | 1.28% |
| BACBank of America Corp.: Financials | 0.46% | 1.66% | 1.20% |
| CVXChevron Corp | 0.45% | 1.48% | 1.03% |
| UNHUnitedhealth Group Incorporated | 0.41% | 1.52% | 1.11% |
| CATCaterpillar, Inc. | 0.40% | 1.50% | 1.10% |
90.5% of VYM is already inside SPXL.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPXL or VYM?
SPXL has an expense ratio of 0.84% while VYM charges 0.04%. VYM is the cheaper option, by $80 a year on a $10,000 investment.
Which performed better, SPXL or VYM?
Over the past year SPXL returned +34.17% vs +17.25% for VYM, so SPXL leads on 1-year performance. Over the longest common window we track (18 years), SPXL annualized +28.27% vs +9.87% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPXL or VYM?
SPXL has been the more volatile fund at 46.0% annualized versus 14.2% for VYM. Worst drawdown: SPXL -76.9% vs VYM -35.7%.
Should I hold both SPXL and VYM?
SPXL and VYM have a monthly-return correlation of 0.91, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SPXL and VYM?
90.5% of VYM's money is in holdings SPXL also owns. 90.5% of VYM's is in holdings SPXL also owns. They hold 251 positions in common, counted across the 506 positions we hold weights for in SPXL and 557 in VYM.
Which pays a higher dividend, SPXL or VYM?
SPXL yields 0.50% while VYM yields 2.22%, so VYM currently pays the higher dividend yield.
Is VYM better than SPXL?
VYM has a lower expense ratio. SPXL led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. VYM is less concentrated, with 26.1% of the fund in its ten largest positions against 48.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.