SPY vs XXCH
State Street SPDR S&P 500 ETF Trust vs Direxion Daily MSCI Emerging Markets ex China Bull 2X Shares
Which is better, SPY or XXCH?
Large Cap Blend against Leverage Strategy.
SPY has a lower expense ratio. SPY led over 1Y, XXCH over 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 | XXCH |
|---|---|---|
| Expense Ratio | 0.09%Best | 1.15% |
| AUM | $804.7B | $2M |
| Dividend Yield | 0.98% | 8.77% |
| Holdings | 505 | 6 |
| Volatility (annualized) | 11.2%Best | 22.5% |
| Max Drawdown | -18.8%Best | -38.0% |
| $10,000 over 1.7 years | $13,757 | $14,937Best |
| Fund Family | State Street Investment Management | Direxion Shares ETF Trust |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Leverage Strategy |
| Inception | Jan 22, 1993 | Feb 7, 2024 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 323 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. SPY has data through Sep 11, 2026 and XXCH through Oct 23, 2025.
Volatility and max drawdown, and the $10,000 over 1.7 years row, are measured over the window both funds cover: Feb 7, 2024 to Oct 23, 2025 (1.7 years).
Risk: Volatility and Drawdowns
XXCH has been the more volatile fund, with annualized monthly volatility of 22.5% compared with 11.2% 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 -18.8% for SPY and -38.0% for XXCH. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.51. They move together some of the time, and apart the rest.
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 0.98% against 8.77% for XXCH.
You are not choosing between two funds in isolation.
Whichever of SPY and XXCH 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 XXCH?
SPY has an expense ratio of 0.09% while XXCH charges 1.15%. SPY is the cheaper option, by $106 a year on a $10,000 investment.
Which is riskier, SPY or XXCH?
XXCH has been the more volatile fund at 22.5% annualized versus 11.2% for SPY. Worst drawdown: SPY -18.8% vs XXCH -38.0%.
Should I hold both SPY and XXCH?
SPY and XXCH have a monthly-return correlation of 0.51, 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 XXCH?
SPY yields 0.98% while XXCH yields 8.77%, so XXCH currently pays the higher dividend yield.
Is XXCH better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, XXCH over the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.