EURL vs SPY
EURL vs SPY
Direxion Daily FTSE Europe Bull 3X ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. EURL delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | EURL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.04% | 0.09% | |
| AUM | $51M | $789.1B | |
| Dividend Yield | 1.59% | 1.01% | |
| Holdings | 9 | 505 | |
| YTD Return | +23.18% | +13.79% | |
| 1Y Return | +57.43% | +23.66% | |
| 3Y Return (annualized) | +36.09% | +21.40% | |
| 5Y Return (annualized) | +8.24% | +13.37% | |
| Volatility (annualized) | 49.6% | 15.3% | |
| Max Drawdown | -85.2% | -56.5% | |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jan 22, 2014 | Jan 22, 1993 |
EURL vs SPY Performance
Direxion Daily FTSE Europe Bull 3X ETF (EURL) is a ETF from Direxion Shares ETF Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EURL returned +57.43% while SPY returned +23.66%. Year to date, EURL is up 23.18% versus a gain of 13.79% for SPY.
Over three years, EURL compounded at +36.09% per year against +21.40% for SPY; over five years the annualized figures are +8.24% and +13.37% respectively. Across the full 13-year window we track, SPY has the edge at +8.85% annualized vs +2.94%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EURL has been the more volatile fund, with annualized monthly volatility of 49.6% 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 -85.2% for EURL and -56.5% for SPY. 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EURL charges 1.04% per year while SPY charges 0.09%. On a $10,000 position that is $104 vs $9 annually, a gap of $95 per year that compounds over a long holding period. On income, EURL currently yields 1.59% against 1.01% for SPY.
Holdings Overlap
EURL and SPY share 0 holdings out of 507 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, EURL or SPY?
EURL has an expense ratio of 1.04% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $95 per year of difference.
Which performed better, EURL or SPY?
Over the past year EURL returned +57.43% vs +23.66% for SPY, so EURL leads on 1-year performance. Over the longest common window we track (13 years), EURL annualized +2.94% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, EURL or SPY?
EURL has been the more volatile fund at 49.6% annualized versus 15.3% for SPY. Worst drawdown: EURL -85.2% vs SPY -56.5%.
Should I hold both EURL and SPY?
EURL and SPY have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EURL and SPY?
EURL and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, EURL or SPY?
EURL yields 1.59% while SPY yields 1.01%, so EURL currently pays the higher dividend yield.
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