SPY vs UTSL
State Street SPDR S&P 500 ETF Trust vs Direxion Daily Utilities Bull 3X ETF
Which is better, SPY or UTSL?
Large Cap Blend against Multi Alternative.
SPY has a lower expense ratio. SPY led over 1Y, 5Y and the full window, UTSL over 3Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 65.2%.
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 | UTSL |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.97% |
| AUM | $814.4B | $45M |
| Dividend Yield | 1.01% | 1.68% |
| Holdings | 505 | 40 |
| YTD Return | +13.34%Best | -8.50% |
| 1Y Return | +19.97%Best | -0.47% |
| 3Y Return (annualized) | +21.20% | +25.38%Best |
| 5Y Return (annualized) | +12.81%Best | +3.72% |
| Volatility (annualized) | 15.9%Best | 47.8% |
| Max Drawdown | -34.1%Best | -79.5% |
| $10,000 over 5 years | $18,270Best | $12,004 |
| Top 10 Weight | 38.0%Best | 65.2% |
| Fund Family | State Street Investment Management | Direxion Shares ETF Trust |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Multi Alternative |
| Inception | Jan 22, 1993 | May 3, 2017 |
Volatility and max drawdown are measured over the window both funds cover: May 3, 2017 to Sep 4, 2026 (9.3 years).
SPY vs UTSL 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 covers the 9.3 years both funds cover.
SPY vs UTSL Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Direxion Daily Utilities Bull 3X ETF (UTSL) is an ETF from Direxion Shares ETF Trust. Over the past year SPY returned +19.97% while UTSL returned -0.47%. Year to date, SPY is up 13.34% versus a loss of 8.50% for UTSL.
Over three years, SPY compounded at +21.20% per year against +25.38% for UTSL; over five years the annualized figures are +12.81% and +3.72% respectively. Across the full 9-year window we track, SPY has the edge at +14.28% annualized vs +5.75%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UTSL has been the more volatile fund, with annualized monthly volatility of 47.8% compared with 15.9% 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 -34.1% for SPY and -79.5% for UTSL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.49. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while UTSL charges 0.97%. On a $10,000 position that is $9 vs $97 annually, a gap of $88 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 1.68% for UTSL.
Holdings Overlap
2.1% of SPY's money is in holdings UTSL also owns. 78.4% of UTSL's money is in holdings SPY also owns.
Most of UTSL is already inside SPY. Owning both mostly buys the same companies twice.
31 positions in common, counted across the 504 positions we hold weights for in SPY and 34 in UTSL, against full books of 505 and 40.
What only one of them owns
Our book lists 3 positions for UTSL that do not appear in our book for SPY (23.0% of the fund), and 465 for SPY that do not appear in UTSL (97.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SPY | Weight in UTSL | Difference |
|---|---|---|---|
| NEENextera Energy Inc | 0.27% | 10.36% | 10.09% |
| SOSouthern Co. | 0.16% | 5.99% | 5.83% |
| DUKDuke Energy Corp | 0.15% | 5.52% | 5.37% |
| CEGConstellation Energy Corporation Com | 0.13% | 4.87% | 4.74% |
| AEPAmerican Electric Power Co Inc | 0.10% | 3.98% | 3.88% |
| DDominion Energy Inc. | 0.09% | 3.47% | 3.38% |
| SRESempra Common Stock | 0.09% | 3.23% | 3.14% |
| ETREntergy Corp. | 0.07% | 2.84% | 2.77% |
| XELXcel Energy Inc. | 0.07% | 2.77% | 2.70% |
| EXCExelon | 0.07% | 2.67% | 2.60% |
78.4% of UTSL is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or UTSL?
SPY has an expense ratio of 0.09% while UTSL charges 0.97%. SPY is the cheaper option, by $88 a year on a $10,000 investment.
Which performed better, SPY or UTSL?
Over the past year SPY returned +19.97% vs -0.47% for UTSL, so SPY leads on 1-year performance. Over the longest common window we track (9 years), SPY annualized +14.28% vs +5.75% for UTSL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or UTSL?
UTSL has been the more volatile fund at 47.8% annualized versus 15.9% for SPY. Worst drawdown: SPY -34.1% vs UTSL -79.5%.
Should I hold both SPY and UTSL?
SPY and UTSL have a monthly-return correlation of 0.49, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPY and UTSL?
78.4% of UTSL's money is in holdings SPY also owns. 78.4% of UTSL's is in holdings SPY also owns. They hold 31 positions in common, counted across the 504 positions we hold weights for in SPY and 34 in UTSL.
Which pays a higher dividend, SPY or UTSL?
SPY yields 1.01% while UTSL yields 1.68%, so UTSL currently pays the higher dividend yield.
Is UTSL better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 5Y and the full window, UTSL over 3Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 65.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.