MIDU vs SPY
MIDU vs SPY
Direxion Daily Mid Cap Bull 3X ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MIDU delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | MIDU | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.98% | 0.09% | |
| AUM | $71M | $789.1B | |
| Dividend Yield | 0.48% | 1.01% | |
| Holdings | 406 | 505 | |
| YTD Return | +34.98% | +11.49% | |
| 1Y Return | +54.74% | +21.37% | |
| 3Y Return (annualized) | +19.68% | +20.76% | |
| 5Y Return (annualized) | +3.68% | +12.94% | |
| Volatility (annualized) | 53.4% | 15.3% | |
| Max Drawdown | -86.5% | -56.5% | |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jan 8, 2009 | Jan 22, 1993 |
MIDU vs SPY Performance
Direxion Daily Mid Cap Bull 3X ETF (MIDU) 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 MIDU returned +54.74% while SPY returned +21.37%. Year to date, MIDU is up 34.98% versus a gain of 11.49% for SPY.
Over three years, MIDU compounded at +19.68% per year against +20.76% for SPY; over five years the annualized figures are +3.68% and +12.94% respectively. Across the full 18-year window we track, MIDU has the edge at +16.52% annualized vs +8.78%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MIDU has been the more volatile fund, with annualized monthly volatility of 53.4% 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 -86.5% for MIDU 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 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MIDU charges 0.98% per year while SPY charges 0.09%. On a $10,000 position that is $98 vs $9 annually, a gap of $89 per year that compounds over a long holding period. On income, MIDU currently yields 0.48% against 1.01% for SPY.
Holdings Overlap
MIDU and SPY share 0 holdings out of 904 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, MIDU or SPY?
MIDU has an expense ratio of 0.98% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $89 per year of difference.
Which performed better, MIDU or SPY?
Over the past year MIDU returned +54.74% vs +21.37% for SPY, so MIDU leads on 1-year performance. Over the longest common window we track (18 years), MIDU annualized +16.52% vs +8.78% for SPY. Past performance does not guarantee future results.
Which is riskier, MIDU or SPY?
MIDU has been the more volatile fund at 53.4% annualized versus 15.3% for SPY. Worst drawdown: MIDU -86.5% vs SPY -56.5%.
Should I hold both MIDU and SPY?
MIDU and SPY have a monthly-return correlation of 0.90, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between MIDU and SPY?
MIDU and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 904 unique securities.
Which pays a higher dividend, MIDU or SPY?
MIDU yields 0.48% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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