SPXS vs VYM
Direxion Daily S&P 500 Bear 3X 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 558 holdings.
Side-by-Side Comparison
| Metric | SPXS | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 1.04% | 0.04% | |
| AUM | $349M | $79.0B | |
| Dividend Yield | 3.21% | 2.86% | |
| Holdings | 11 | 568 | |
| YTD Return | -30.67% | +16.53% | |
| 1Y Return | -41.22% | +25.03% | |
| 3Y Return (annualized) | -41.98% | +18.54% | |
| 5Y Return (annualized) | -33.52% | +12.25% | |
| Volatility (annualized) | 41.5% | 14.6% | |
| Max Drawdown | -100.0% | -58.8% | |
| Fund Family | Direxion Shares ETF Trust | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Nov 5, 2008 | Nov 10, 2006 |
SPXS vs VYM Performance
Direxion Daily S&P 500 Bear 3X ETF (SPXS) 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 SPXS returned -41.22% while VYM returned +25.03%. Year to date, SPXS is down 30.67% versus a gain of 16.53% for VYM.
Over three years, SPXS compounded at -41.98% per year against +18.54% for VYM; over five years the annualized figures are -33.52% and +12.25% respectively. Across the full 18-year window we track, VYM has the edge at +7.10% annualized vs -44.18%. 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 14.6% 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 -100.0% for SPXS 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 -0.87. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPXS charges 1.04% per year while VYM charges 0.04%. On a $10,000 position that is $104 vs $4 annually, a gap of $100 per year that compounds over a long holding period. On income, SPXS currently yields 3.21% against 2.86% for VYM.
Holdings Overlap
SPXS and VYM share 0 holdings out of 562 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 VYM?
SPXS has an expense ratio of 1.04% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $100 per year of difference.
Which performed better, SPXS or VYM?
Over the past year SPXS returned -41.22% vs +25.03% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (18 years), SPXS annualized -44.18% vs +7.10% for VYM. Past performance does not guarantee future results.
Which is riskier, SPXS or VYM?
SPXS has been the more volatile fund at 41.5% annualized versus 14.6% for VYM. Worst drawdown: SPXS -100.0% vs VYM -58.8%.
Should I hold both SPXS and VYM?
SPXS and VYM have a monthly-return correlation of -0.87, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPXS and VYM?
SPXS and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 562 unique securities.
Which pays a higher dividend, SPXS or VYM?
SPXS yields 3.21% while VYM yields 2.86%, so SPXS currently pays the higher dividend yield.
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