SPY vs TECL
State Street SPDR S&P 500 ETF Trust vs Direxion Daily Technology Bull 3X ETF
Which is better, SPY or TECL?
Large Cap Blend against Trading-Leveraged Equity.
SPY has a lower expense ratio. TECL led over 1Y, 3Y, 5Y and the full window.
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 | SPY | TECL |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.85% |
| AUM | $823.2B | $6.6B |
| Dividend Yield | 0.99% | 3.69% |
| Holdings | 1,515 | 170 |
| YTD Return | +13.53% | +79.66%Best |
| 1Y Return | +17.47% | +84.47%Best |
| 3Y Return (annualized) | +22.36% | +68.34%Best |
| 5Y Return (annualized) | +13.21% | +29.72%Best |
| Volatility (annualized) | 14.0%Best | 59.8% |
| Max Drawdown | -34.1%Best | -78.0% |
| $10,000 over 5 years | $18,596 | $36,731Best |
| Fund Family | State Street Investment Management | Direxion Shares ETF Trust |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Trading-Leveraged Equity |
| Inception | Jan 22, 1993 | Dec 17, 2008 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 29, 2012 to Oct 14, 2026 (14.3 years).
SPY vs TECL 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
SPY vs TECL Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Direxion Daily Technology Bull 3X ETF (TECL) is an ETF from Direxion Shares ETF Trust. Over the past year SPY returned +17.47% while TECL returned +84.47%. Year to date, SPY is up 13.53% versus a gain of 79.66% for TECL.
Over three years, SPY compounded at +22.36% per year against +68.34% for TECL; over five years the annualized figures are +13.21% and +29.72% respectively. Across the full 14-year window we track, TECL has the edge at +44.36% annualized vs +13.49%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TECL has been the more volatile fund, with annualized monthly volatility of 59.8% compared with 14.0% 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 -34.1% for SPY and -78.0% for TECL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while TECL charges 0.85%. On a $10,000 position that is $9 vs $85 annually, a gap of $76 per year that compounds over a long holding period. On income, SPY currently yields 0.99% against 3.69% for TECL.
Holdings Overlap
At least 37.5% of SPY's money is in holdings TECL also owns.
Stated as a floor: for TECL, our book for it covers 89.4% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
72 positions in common, counted across the 504 positions we hold weights for in SPY and 77 in TECL, against full books of 1,515 and 170.
Top Shared Holdings
| Stock | Weight in SPY | Weight in TECL | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.78% | 10.69% | 2.91% |
| AAPLApple, Inc | 7.45% | 9.19% | 1.74% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.71% | 7.25% | 1.54% |
| AVGOBroadcom Inc | 2.48% | 3.19% | 0.71% |
| AMDAdvanced Micro Devices Inc | 1.22% | 3.54% | 2.32% |
| MUMicron Technology, Inc. | 1.59% | 3.04% | 1.45% |
| INTCIntel Corporation | 0.73% | 2.27% | 1.54% |
| CSCOCisco Systems Inc. - Ordinary Shares | 0.66% | 1.69% | 1.03% |
| PLTRPalantir Technologies Inc | 0.61% | 1.66% | 1.05% |
| LRCXLam Research Corp | 0.52% | 1.66% | 1.14% |
37.5% of SPY is already inside TECL.
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, SPY or TECL?
SPY has an expense ratio of 0.09% while TECL charges 0.85%. SPY is the cheaper option, by $76 a year on a $10,000 investment.
Which performed better, SPY or TECL?
Over the past year SPY returned +17.47% vs +84.47% for TECL, so TECL leads on 1-year performance. Over the longest common window we track (14 years), SPY annualized +13.49% vs +44.36% for TECL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TECL?
TECL has been the more volatile fund at 59.8% annualized versus 14.0% for SPY. Worst drawdown: SPY -34.1% vs TECL -78.0%.
Should I hold both SPY and TECL?
SPY and TECL have a monthly-return correlation of 0.86, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPY and TECL?
At least 37.5% of SPY's money is in holdings TECL also owns. Our book for TECL is partial, so the real figure is this or higher. They hold 72 positions in common, counted across the 504 positions we hold weights for in SPY and 77 in TECL.
Which pays a higher dividend, SPY or TECL?
SPY yields 0.99% while TECL yields 3.69%, so TECL currently pays the higher dividend yield.
Is TECL better than SPY?
SPY has a lower expense ratio. TECL led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.