SPY vs TBXU
State Street SPDR S&P 500 ETF Trust vs Direxion Daily Biotech Top 5 Bull 2X ETF
Quick Verdict
SPY has a lower expense ratio. TBXU delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | TBXU | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.98% | |
| AUM | $821.1B | $3M | |
| Dividend Yield | 1.01% | 1.82% | |
| Holdings | 505 | 10 | |
| YTD Return | +12.68% | +44.73% | |
| 1Y Return | +21.82% | +70.25% | |
| 3Y Return (annualized) | +21.98% | - | |
| 5Y Return (annualized) | +12.89% | - | |
| Volatility (annualized) | 15.3% | - | |
| Max Drawdown | -56.5% | -26.5% | |
| Fund Family | State Street Investment Management | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Oct 1, 2025 |
SPY vs TBXU Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Direxion Daily Biotech Top 5 Bull 2X ETF (TBXU) is a ETF from Direxion Shares ETF Trust. Over the past year SPY returned +21.82% while TBXU returned +70.25%. Year to date, SPY is up 12.68% versus a gain of 44.73% for TBXU.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -56.5% for SPY and -26.5% for TBXU. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
SPY charges 0.09% per year while TBXU charges 0.98%. On a $10,000 position that is $9 vs $98 annually, a gap of $89 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 1.82% for TBXU.
Holdings Overlap
SPY and TBXU share 4 holdings out of 507 unique holdings combined, representing a 0.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or TBXU?
SPY has an expense ratio of 0.09% while TBXU charges 0.98%. SPY is the cheaper option. On a $10,000 investment, that is $89 per year of difference.
Which performed better, SPY or TBXU?
Over the past year SPY returned +21.82% vs +70.25% for TBXU, so TBXU leads on 1-year performance. Past performance does not guarantee future results.
What is the holdings overlap between SPY and TBXU?
SPY and TBXU share 4 common holdings with a 0.9% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, SPY or TBXU?
SPY yields 1.01% while TBXU yields 1.82%, so TBXU currently pays the higher dividend yield.
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