SPY vs VSTL
State Street SPDR S&P 500 ETF Trust vs Defiance Daily Target 2X Long VST ETF
Which is better, SPY or VSTL?
Large Cap Blend against Trading-Leveraged Equity.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
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 | VSTL |
|---|---|---|
| Expense Ratio | 0.09%Best | 1.29% |
| AUM | $804.7B | $10M |
| Dividend Yield | 0.98% | 0.00% |
| Holdings | 505 | 11 |
| YTD Return | +13.51%Best | -48.81% |
| 1Y Return | +18.19%Best | -69.15% |
| 3Y Return (annualized) | +23.29% | - |
| 5Y Return (annualized) | +13.21% | - |
| Volatility (annualized) | 12.2%Best | 43.6% |
| Max Drawdown | -8.9%Best | -74.1% |
| $10,000 over 1.2 years | $12,453Best | $3,259 |
| Fund Family | State Street Investment Management | Defiance ETFs, LLC |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Trading-Leveraged Equity |
| Inception | Jan 22, 1993 | Jul 21, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jul 22, 2025 to Sep 25, 2026 (1.2 years).
SPY vs VSTL 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 1.2 years both funds cover.
SPY vs VSTL Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Defiance Daily Target 2X Long VST ETF (VSTL) is an ETF from Defiance ETFs, LLC. Over the past year SPY returned +18.19% while VSTL returned -69.15%. Year to date, SPY is up 13.51% versus a loss of 48.81% for VSTL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VSTL has been the more volatile fund, with annualized monthly volatility of 43.6% compared with 12.2% 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 -8.9% for SPY and -74.1% for VSTL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.47. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while VSTL charges 1.29%. On a $10,000 position that is $9 vs $129 annually, a gap of $120 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.00% for VSTL.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 1 in VSTL, totalling 99.9% and 16.1% 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 VSTL, against full books of 505 and 11.
You are not choosing between two funds in isolation.
Whichever of SPY and VSTL 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 VSTL?
SPY has an expense ratio of 0.09% while VSTL charges 1.29%. SPY is the cheaper option, by $120 a year on a $10,000 investment.
Which performed better, SPY or VSTL?
Over the past year SPY returned +18.19% vs -69.15% for VSTL, so SPY leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +20.06% vs -60.71% for VSTL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or VSTL?
VSTL has been the more volatile fund at 43.6% annualized versus 12.2% for SPY. Worst drawdown: SPY -8.9% vs VSTL -74.1%.
Should I hold both SPY and VSTL?
SPY and VSTL have a monthly-return correlation of 0.47, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPY or VSTL?
SPY yields 0.98% while VSTL yields 0.00%, so SPY currently pays the higher dividend yield.
Is VSTL better than SPY?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.