BERZ vs SPY
MicroSectors FANG & Innovation -3x Inverse Leveraged ETN vs State Street SPDR S&P 500 ETF Trust
Which is better, BERZ or SPY?
Opposite sides of the same exposure.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two move opposite each other, correlation -0.85, so holding both offsets the exposure while paying both fees. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 68.3%.
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 | BERZ | SPY |
|---|---|---|
| Expense Ratio | 0.95% | 0.09%Best |
| AUM | $6M | $823.2B |
| Dividend Yield | 0.00% | 0.99% |
| Holdings | 15 | 1,515 |
| YTD Return | -67.77% | +13.53%Best |
| 1Y Return | -72.86% | +17.47%Best |
| 3Y Return (annualized) | -76.11% | +22.36%Best |
| 5Y Return (annualized) | -66.66% | +13.21%Best |
| Volatility (annualized) | 82.1% | 15.6%Best |
| Max Drawdown | - | -24.5% |
| $10,000 over 5 years | $41 | $18,596Best |
| Top 10 Weight | 68.3% | 38.2%Best |
| Fund Family | BMO Capital Markets | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Trading-Inverse Equity | Large Cap Blend |
| Inception | Aug 17, 2021 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Aug 18, 2021 to Oct 14, 2026 (5.2 years).
BERZ vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 5.2 years both funds cover.
BERZ vs SPY Performance
MicroSectors FANG & Innovation -3x Inverse Leveraged ETN (BERZ) is an ETF from BMO Capital Markets and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BERZ returned -72.86% while SPY returned +17.47%. Year to date, BERZ is down 67.77% versus a gain of 13.53% for SPY.
Over three years, BERZ compounded at -76.11% per year against +22.36% for SPY; over five years the annualized figures are -66.66% and +13.21% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BERZ has been the more volatile fund, with annualized monthly volatility of 82.1% compared with 15.6% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at -0.85. They move opposite each other. Holding both offsets the exposure rather than spreading it, while paying both funds' fees.
Fees and Cost Over Time
BERZ charges 0.95% per year while SPY charges 0.09%. On a $10,000 position that is $95 vs $9 annually, a gap of $86 per year that compounds over a long holding period. On income, BERZ currently yields 0.00% against 0.99% for SPY.
Holdings Overlap
100.0% of BERZ's money is in holdings SPY also owns. 39.5% of SPY's money is in holdings BERZ also owns.
They hold the same names on opposite sides, so owning both offsets the exposure rather than doubling it.
15 positions in common, counted across the 15 positions we hold weights for in BERZ and 504 in SPY, against full books of 15 and 1,515.
What only one of them owns
Measured across the 15 and 504 positions we hold weights for.
SPY holds 481 positions BERZ does not, 59.6% of the fund.
Largest: GOOG 2.49%, BRK.B 1.44%, JPM 1.43%, LLY 1.37%, XOM 1.04%
Top Shared Holdings
| Stock | Weight in BERZ | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 6.74% | 7.78% | 1.04% |
| AAPLApple, Inc | 6.50% | 7.45% | 0.95% |
| MSFTMicrosoft Corp | 6.81% | 5.71% | 1.10% |
| AMZNAmazon.Com Inc | 6.44% | 3.78% | 2.66% |
| GOOGLAlphabet Inc | 6.46% | 3.12% | 3.34% |
| METAMeta Platforms Inc | 7.15% | 2.22% | 4.93% |
| AVGOBroadcom Inc | 6.45% | 2.48% | 3.97% |
| MUMicron Technology, Inc. | 6.88% | 1.59% | 5.29% |
| AMDAdvanced Micro Devices Inc | 7.17% | 1.22% | 5.95% |
| INTCIntel Corporation | 7.26% | 0.73% | 6.53% |
100.0% of BERZ is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BERZ or SPY?
BERZ has an expense ratio of 0.95% while SPY charges 0.09%. SPY is the cheaper option, by $86 a year on a $10,000 investment.
Which performed better, BERZ or SPY?
Over the past year BERZ returned -72.86% vs +17.47% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BERZ or SPY?
BERZ has been the more volatile fund at 82.1% annualized versus 15.6% for SPY.
Should I hold both BERZ and SPY?
BERZ and SPY have a monthly-return correlation of -0.85, so they move opposite each other. Holding both offsets the exposure rather than spreading it, and pays both funds' fees on the way. This is information, not a recommendation.
What is the holdings overlap between BERZ and SPY?
100.0% of BERZ's money is in holdings SPY also owns. 39.5% of SPY's is in holdings BERZ also owns. They hold 15 positions in common, counted across the 15 positions we hold weights for in BERZ and 504 in SPY.
Which pays a higher dividend, BERZ or SPY?
BERZ yields 0.00% while SPY yields 0.99%, so SPY currently pays the higher dividend yield.
Is SPY better than BERZ?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two move opposite each other, correlation -0.85, so holding both offsets the exposure while paying both fees. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 68.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.