SPY vs STSM
State Street SPDR S&P 500 ETF Trust vs Defiance Daily Target 2X Short TSM ETF
Which is better, SPY or STSM?
Large Cap Blend against Trading-Inverse Equity.
SPY has a lower expense ratio.
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 | SPY | STSM |
|---|---|---|
| Expense Ratio | 0.09%Best | 1.31% |
| AUM | $804.7B | $1M |
| Dividend Yield | 0.98% | 0.00% |
| Holdings | 505 | 14 |
| YTD Return | +12.09%Best | -63.50% |
| 1Y Return | +16.29% | - |
| 3Y Return (annualized) | +21.20% | - |
| 5Y Return (annualized) | +13.37% | - |
| Fund Family | State Street Investment Management | Defiance ETFs, LLC |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Trading-Inverse Equity |
| Inception | Jan 22, 1993 | Nov 17, 2025 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window, Top 10 Weight.
SPY vs STSM 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.
SPY vs STSM Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Defiance Daily Target 2X Short TSM ETF (STSM) is an ETF from Defiance ETFs, LLC. Year to date, SPY is up 12.09% versus a loss of 63.50% for STSM.
Past performance does not guarantee future results.
Fees and Cost Over Time
SPY charges 0.09% per year while STSM charges 1.31%. On a $10,000 position that is $9 vs $131 annually, a gap of $122 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.00% for STSM.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 1 in STSM, totalling 99.9% and 7.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 504 positions we hold weights for in SPY and 1 in STSM, against full books of 505 and 14.
You are not choosing between two funds in isolation.
Whichever of SPY and STSM you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or STSM?
SPY has an expense ratio of 0.09% while STSM charges 1.31%. SPY is the cheaper option, by $122 a year on a $10,000 investment.
Which pays a higher dividend, SPY or STSM?
SPY yields 0.98% while STSM yields 0.00%, so SPY currently pays the higher dividend yield.
Is STSM better than SPY?
SPY has a lower expense ratio. Which one suits a particular account depends on what it is for. This is information, not a recommendation.