SPY vs TSLS
State Street SPDR S&P 500 ETF Trust vs Direxion Daily TSLA Bear 1X ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | TSLS | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.95% | |
| AUM | $789.1B | $84M | |
| Dividend Yield | 1.01% | 3.08% | |
| Holdings | 505 | 9 | |
| YTD Return | +13.75% | +21.69% | |
| 1Y Return | +22.91% | -10.19% | |
| 3Y Return (annualized) | +21.67% | -30.72% | |
| 5Y Return (annualized) | +13.32% | - | |
| Volatility (annualized) | 15.3% | 60.0% | |
| Max Drawdown | -56.5% | -90.7% | |
| Fund Family | State Street Investment Management | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Aug 9, 2022 |
SPY vs TSLS Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Direxion Daily TSLA Bear 1X ETF (TSLS) is a ETF from Direxion Shares ETF Trust. Over the past year SPY returned +22.91% while TSLS returned -10.19%. Year to date, SPY is up 13.75% versus a gain of 21.69% for TSLS.
Over three years, SPY compounded at +21.67% per year against -30.72% for TSLS. Across the full 4-year window we track, SPY has the edge at +8.85% annualized vs -26.68%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TSLS has been the more volatile fund, with annualized monthly volatility of 60.0% compared with 15.3% for SPY. 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 -56.5% for SPY and -90.7% for TSLS. 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 -0.35. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while TSLS charges 0.95%. On a $10,000 position that is $9 vs $95 annually, a gap of $86 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 3.08% for TSLS.
Holdings Overlap
SPY and TSLS share 0 holdings out of 507 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, SPY or TSLS?
SPY has an expense ratio of 0.09% while TSLS charges 0.95%. SPY is the cheaper option. On a $10,000 investment, that is $86 per year of difference.
Which performed better, SPY or TSLS?
Over the past year SPY returned +22.91% vs -10.19% for TSLS, so SPY leads on 1-year performance. Over the longest common window we track (4 years), SPY annualized +8.85% vs -26.68% for TSLS. Past performance does not guarantee future results.
Which is riskier, SPY or TSLS?
TSLS has been the more volatile fund at 60.0% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs TSLS -90.7%.
Should I hold both SPY and TSLS?
SPY and TSLS have a monthly-return correlation of -0.35, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TSLS?
SPY and TSLS share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, SPY or TSLS?
SPY yields 1.01% while TSLS yields 3.08%, so TSLS currently pays the higher dividend yield.
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