SPY vs YANG
State Street SPDR S&P 500 ETF Trust vs Direxion Daily FTSE China Bear 3X ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | YANG | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 1.03% | |
| AUM | $789.1B | $92M | |
| Dividend Yield | 1.01% | 2.24% | |
| Holdings | 505 | 7 | |
| YTD Return | +13.79% | +22.99% | |
| 1Y Return | +23.66% | -1.75% | |
| 3Y Return (annualized) | +21.40% | -45.05% | |
| 5Y Return (annualized) | +13.37% | -38.48% | |
| Volatility (annualized) | 15.3% | 66.2% | |
| Max Drawdown | -56.5% | -100.0% | |
| Fund Family | State Street Investment Management | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Dec 3, 2009 |
SPY vs YANG Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Direxion Daily FTSE China Bear 3X ETF (YANG) is a ETF from Direxion Shares ETF Trust. Over the past year SPY returned +23.66% while YANG returned -1.75%. Year to date, SPY is up 13.79% versus a gain of 22.99% for YANG.
Over three years, SPY compounded at +21.40% per year against -45.05% for YANG; over five years the annualized figures are +13.37% and -38.48% respectively. Across the full 17-year window we track, SPY has the edge at +8.85% annualized vs -38.38%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
YANG has been the more volatile fund, with annualized monthly volatility of 66.2% 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 -100.0% for YANG. 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 -0.40. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while YANG charges 1.03%. On a $10,000 position that is $9 vs $103 annually, a gap of $94 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 2.24% for YANG.
Holdings Overlap
SPY and YANG 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 YANG?
SPY has an expense ratio of 0.09% while YANG charges 1.03%. SPY is the cheaper option. On a $10,000 investment, that is $94 per year of difference.
Which performed better, SPY or YANG?
Over the past year SPY returned +23.66% vs -1.75% for YANG, so SPY leads on 1-year performance. Over the longest common window we track (17 years), SPY annualized +8.85% vs -38.38% for YANG. Past performance does not guarantee future results.
Which is riskier, SPY or YANG?
YANG has been the more volatile fund at 66.2% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs YANG -100.0%.
Should I hold both SPY and YANG?
SPY and YANG have a monthly-return correlation of -0.40, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and YANG?
SPY and YANG share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, SPY or YANG?
SPY yields 1.01% while YANG yields 2.24%, so YANG currently pays the higher dividend yield.
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