SPY vs TYD
SPY vs TYD
State Street SPDR S&P 500 ETF Trust vs Direxion Daily 7-10 Year Treasury Bull 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 | TYD | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 1.07% | |
| AUM | $789.1B | $32M | |
| Dividend Yield | 1.01% | 3.25% | |
| Holdings | 505 | 8 | |
| YTD Return | +13.79% | -8.49% | |
| 1Y Return | +23.66% | -7.03% | |
| 3Y Return (annualized) | +21.40% | -3.94% | |
| 5Y Return (annualized) | +13.37% | -14.47% | |
| Volatility (annualized) | 15.3% | 20.0% | |
| Max Drawdown | -56.5% | -67.5% | |
| Fund Family | State Street Investment Management | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Apr 16, 2009 |
SPY vs TYD Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Direxion Daily 7-10 Year Treasury Bull 3X ETF (TYD) is a ETF from Direxion Shares ETF Trust. Over the past year SPY returned +23.66% while TYD returned -7.03%. Year to date, SPY is up 13.79% versus a loss of 8.49% for TYD.
Over three years, SPY compounded at +21.40% per year against -3.94% for TYD; over five years the annualized figures are +13.37% and -14.47% respectively. Across the full 17-year window we track, SPY has the edge at +8.85% annualized vs -0.95%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TYD has been the more volatile fund, with annualized monthly volatility of 20.0% 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 -67.5% for TYD. 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 -0.08. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while TYD charges 1.07%. On a $10,000 position that is $9 vs $107 annually, a gap of $98 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 3.25% for TYD.
Holdings Overlap
SPY and TYD 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, SPY or TYD?
SPY has an expense ratio of 0.09% while TYD charges 1.07%. SPY is the cheaper option. On a $10,000 investment, that is $98 per year of difference.
Which performed better, SPY or TYD?
Over the past year SPY returned +23.66% vs -7.03% for TYD, so SPY leads on 1-year performance. Over the longest common window we track (17 years), SPY annualized +8.85% vs -0.95% for TYD. Past performance does not guarantee future results.
Which is riskier, SPY or TYD?
TYD has been the more volatile fund at 20.0% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs TYD -67.5%.
Should I hold both SPY and TYD?
SPY and TYD have a monthly-return correlation of -0.08, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TYD?
SPY and TYD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, SPY or TYD?
SPY yields 1.01% while TYD yields 3.25%, so TYD currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.