SPXU vs VYM
ProShares UltraPro Short S&P500 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 616 holdings.
Side-by-Side Comparison
| Metric | SPXU | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.90% | 0.04% | |
| AUM | $365M | $81.6B | |
| Dividend Yield | 6.79% | 2.24% | |
| Holdings | 19 | 616 | |
| YTD Return | -31.65% | +16.42% | |
| 1Y Return | -41.62% | +24.22% | |
| 3Y Return (annualized) | -43.03% | +19.03% | |
| 5Y Return (annualized) | -33.59% | +12.21% | |
| Volatility (annualized) | 39.7% | 14.6% | |
| Max Drawdown | -100.0% | -58.8% | |
| Fund Family | ProShares | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Jun 23, 2009 | Nov 10, 2006 |
SPXU vs VYM Performance
ProShares UltraPro Short S&P500 (SPXU) is a ETF from ProShares and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year SPXU returned -41.62% while VYM returned +24.22%. Year to date, SPXU is down 31.65% versus a gain of 16.42% for VYM.
Over three years, SPXU compounded at -43.03% per year against +19.03% for VYM; over five years the annualized figures are -33.59% and +12.21% respectively. Across the full 17-year window we track, VYM has the edge at +7.10% annualized vs -42.78%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXU has been the more volatile fund, with annualized monthly volatility of 39.7% 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 SPXU 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 -0.86. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPXU charges 0.90% per year while VYM charges 0.04%. On a $10,000 position that is $90 vs $4 annually, a gap of $86 per year that compounds over a long holding period. On income, SPXU currently yields 6.79% against 2.24% for VYM.
Holdings Overlap
SPXU and VYM share 0 holdings out of 604 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, SPXU or VYM?
SPXU has an expense ratio of 0.90% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $86 per year of difference.
Which performed better, SPXU or VYM?
Over the past year SPXU returned -41.62% vs +24.22% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (17 years), SPXU annualized -42.78% vs +7.10% for VYM. Past performance does not guarantee future results.
Which is riskier, SPXU or VYM?
SPXU has been the more volatile fund at 39.7% annualized versus 14.6% for VYM. Worst drawdown: SPXU -100.0% vs VYM -58.8%.
Should I hold both SPXU and VYM?
SPXU and VYM have a monthly-return correlation of -0.86, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPXU and VYM?
SPXU and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 604 unique securities.
Which pays a higher dividend, SPXU or VYM?
SPXU yields 6.79% while VYM yields 2.24%, so SPXU currently pays the higher dividend yield.
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