SPY vs USLV
State Street SPDR S&P 500 ETF Trust vs Direxion Daily Silver Bull 2X ETF
Quick Verdict
SPY has a lower expense ratio. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | USLV | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 1.10% | |
| AUM | $789.1B | $7M | |
| Dividend Yield | 1.01% | 0.26% | |
| Holdings | 505 | 3 | |
| YTD Return | +13.68% | -28.63% | |
| 1Y Return | +21.53% | - | |
| 3Y Return (annualized) | +21.44% | - | |
| 5Y Return (annualized) | +13.18% | - | |
| Volatility (annualized) | 15.3% | - | |
| Max Drawdown | -56.5% | -48.5% | |
| Fund Family | State Street Investment Management | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | May 27, 2026 |
SPY vs USLV Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Direxion Daily Silver Bull 2X ETF (USLV) is a ETF from Direxion Shares ETF Trust. Year to date, SPY is up 13.68% versus a loss of 28.63% for USLV.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -56.5% for SPY and -48.5% for USLV. 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 USLV charges 1.10%. On a $10,000 position that is $9 vs $110 annually, a gap of $101 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.26% for USLV.
Holdings Overlap
SPY and USLV share 0 holdings out of 506 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 USLV?
SPY has an expense ratio of 0.09% while USLV charges 1.10%. SPY is the cheaper option. On a $10,000 investment, that is $101 per year of difference.
What is the holdings overlap between SPY and USLV?
SPY and USLV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, SPY or USLV?
SPY yields 1.01% while USLV yields 0.26%, so SPY currently pays the higher dividend yield.
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