SPXL vs VYM
Direxion Daily S&P 500 Bull 3X ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. SPXL delivered stronger 1-year returns. VYM offers more diversification with 616 holdings.
Side-by-Side Comparison
| Metric | SPXL | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.84% | 0.04% | |
| AUM | $7.3B | $81.6B | |
| Dividend Yield | 0.53% | 2.24% | |
| Holdings | 515 | 616 | |
| YTD Return | +29.88% | +15.34% | |
| 1Y Return | +55.73% | +23.24% | |
| 3Y Return (annualized) | +51.23% | +19.22% | |
| 5Y Return (annualized) | +19.81% | +12.21% | |
| Volatility (annualized) | 46.1% | 14.6% | |
| Max Drawdown | -76.9% | -58.8% | |
| Fund Family | Direxion Shares ETF Trust | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Nov 5, 2008 | Nov 10, 2006 |
SPXL vs VYM Performance
Direxion Daily S&P 500 Bull 3X ETF (SPXL) 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 SPXL returned +55.73% while VYM returned +23.24%. Year to date, SPXL is up 29.88% versus a gain of 15.34% for VYM.
Over three years, SPXL compounded at +51.23% per year against +19.22% for VYM; over five years the annualized figures are +19.81% and +12.21% respectively. Across the full 18-year window we track, SPXL has the edge at +28.69% annualized vs +7.04%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXL has been the more volatile fund, with annualized monthly volatility of 46.1% compared with 14.6% 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 -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 0.91. 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 0.53% against 2.24% for VYM.
Holdings Overlap
SPXL and VYM share 244 holdings out of 865 unique holdings combined, representing a 24.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $80 per year of difference.
Which performed better, SPXL or VYM?
Over the past year SPXL returned +55.73% vs +23.24% for VYM, so SPXL leads on 1-year performance. Over the longest common window we track (18 years), SPXL annualized +28.69% vs +7.04% for VYM. Past performance does not guarantee future results.
Which is riskier, SPXL or VYM?
SPXL has been the more volatile fund at 46.1% annualized versus 14.6% for VYM. Worst drawdown: SPXL -76.9% vs VYM -58.8%.
Should I hold both SPXL and VYM?
SPXL and VYM have a monthly-return correlation of 0.91, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SPXL and VYM?
SPXL and VYM share 244 common holdings with a 24.9% weight overlap. Combined, they hold 865 unique securities.
Which pays a higher dividend, SPXL or VYM?
SPXL yields 0.53% while VYM yields 2.24%, so VYM currently pays the higher dividend yield.
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