SPXS vs VOO
Direxion Daily S&P 500 Bear 3X ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | SPXS | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.04% | 0.03% | |
| AUM | $327M | $997.4B | |
| Dividend Yield | 3.19% | 1.08% | |
| Holdings | 11 | 509 | |
| YTD Return | -27.79% | +12.25% | |
| 1Y Return | -40.33% | +20.92% | |
| 3Y Return (annualized) | -42.36% | +21.79% | |
| 5Y Return (annualized) | -33.11% | +13.05% | |
| Volatility (annualized) | 41.5% | 14.1% | |
| Max Drawdown | -100.0% | -34.3% | |
| Fund Family | Direxion Shares ETF Trust | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Nov 5, 2008 | Sep 7, 2010 |
SPXS vs VOO Performance
Direxion Daily S&P 500 Bear 3X ETF (SPXS) is a ETF from Direxion Shares ETF Trust and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year SPXS returned -40.33% while VOO returned +20.92%. Year to date, SPXS is down 27.79% versus a gain of 12.25% for VOO.
Over three years, SPXS compounded at -42.36% per year against +21.79% for VOO; over five years the annualized figures are -33.11% and +13.05% respectively. Across the full 16-year window we track, VOO has the edge at +13.45% annualized vs -44.01%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXS has been the more volatile fund, with annualized monthly volatility of 41.5% compared with 14.1% for VOO. 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 -100.0% for SPXS and -34.3% for VOO. 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 -0.95. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPXS charges 1.04% per year while VOO charges 0.03%. On a $10,000 position that is $104 vs $3 annually, a gap of $101 per year that compounds over a long holding period. On income, SPXS currently yields 3.19% against 1.08% for VOO.
Holdings Overlap
SPXS and VOO share 0 holdings out of 509 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, SPXS or VOO?
SPXS has an expense ratio of 1.04% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $101 per year of difference.
Which performed better, SPXS or VOO?
Over the past year SPXS returned -40.33% vs +20.92% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), SPXS annualized -44.01% vs +13.45% for VOO. Past performance does not guarantee future results.
Which is riskier, SPXS or VOO?
SPXS has been the more volatile fund at 41.5% annualized versus 14.1% for VOO. Worst drawdown: SPXS -100.0% vs VOO -34.3%.
Should I hold both SPXS and VOO?
SPXS and VOO have a monthly-return correlation of -0.95, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPXS and VOO?
SPXS and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 509 unique securities.
Which pays a higher dividend, SPXS or VOO?
SPXS yields 3.19% while VOO yields 1.08%, so SPXS currently pays the higher dividend yield.
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