SPY vs XXCH
State Street SPDR S&P 500 ETF Trust vs Direxion Daily MSCI Emerging Markets ex China Bull 2X Shares
Quick Verdict
SPY has a lower expense ratio. XXCH delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | XXCH | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 1.15% | |
| AUM | $821.1B | $2M | |
| Dividend Yield | 1.01% | 8.77% | |
| Holdings | 505 | 6 | |
| YTD Return | +12.68% | +54.95% | |
| 1Y Return | +21.82% | +35.53% | |
| 3Y Return (annualized) | +21.98% | - | |
| 5Y Return (annualized) | +12.89% | - | |
| Volatility (annualized) | 15.3% | 22.5% | |
| Max Drawdown | -56.5% | -38.0% | |
| Fund Family | State Street Investment Management | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Feb 7, 2024 |
SPY vs XXCH Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Direxion Daily MSCI Emerging Markets ex China Bull 2X Shares (XXCH) is a ETF from Direxion Shares ETF Trust. Over the past year SPY returned +21.82% while XXCH returned +35.53%. Year to date, SPY is up 12.68% versus a gain of 54.95% for XXCH.
Risk: Volatility and Drawdowns
XXCH has been the more volatile fund, with annualized monthly volatility of 22.5% 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 -38.0% for XXCH. 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 0.51. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while XXCH charges 1.15%. On a $10,000 position that is $9 vs $115 annually, a gap of $106 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 8.77% for XXCH.
Frequently Asked Questions
Which is cheaper, SPY or XXCH?
SPY has an expense ratio of 0.09% while XXCH charges 1.15%. SPY is the cheaper option. On a $10,000 investment, that is $106 per year of difference.
Which performed better, SPY or XXCH?
Over the past year SPY returned +21.82% vs +35.53% for XXCH, so XXCH leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +8.81% vs +26.62% for XXCH. Past performance does not guarantee future results.
Which is riskier, SPY or XXCH?
XXCH has been the more volatile fund at 22.5% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs XXCH -38.0%.
Should I hold both SPY and XXCH?
SPY and XXCH have a monthly-return correlation of 0.51, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, SPY or XXCH?
SPY yields 1.01% while XXCH yields 8.77%, so XXCH currently pays the higher dividend yield.
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