SPY vs UTSL
State Street SPDR S&P 500 ETF Trust vs Direxion Daily Utilities Bull 3X ETF
Which is better, SPY or UTSL?
Large Cap Blend against Multi Alternative.
SPY has a lower expense ratio. SPY led over 1Y, 5Y and the full window, UTSL over 3Y.
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 | UTSL |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.97% |
| AUM | $823.2B | $74M |
| Dividend Yield | 0.99% | 3.18% |
| Holdings | 1,515 | 80 |
| YTD Return | +13.53%Best | -16.57% |
| 1Y Return | +17.47%Best | -31.12% |
| 3Y Return (annualized) | +22.36% | +25.69%Best |
| 5Y Return (annualized) | +13.21%Best | +4.09% |
| Volatility (annualized) | 15.8%Best | 48.3% |
| Max Drawdown | -34.1%Best | -79.5% |
| $10,000 over 5 years | $18,596Best | $12,219 |
| Fund Family | State Street Investment Management | Direxion Shares ETF Trust |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Multi Alternative |
| Inception | Jan 22, 1993 | May 3, 2017 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: May 3, 2017 to Oct 14, 2026 (9.4 years).
SPY vs UTSL 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 9.4 years both funds cover.
SPY vs UTSL Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Direxion Daily Utilities Bull 3X ETF (UTSL) is an ETF from Direxion Shares ETF Trust. Over the past year SPY returned +17.47% while UTSL returned -31.12%. Year to date, SPY is up 13.53% versus a loss of 16.57% for UTSL.
Over three years, SPY compounded at +22.36% per year against +25.69% for UTSL; over five years the annualized figures are +13.21% and +4.09% respectively. Across the full 9-year window we track, SPY has the edge at +14.12% annualized vs +4.65%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UTSL has been the more volatile fund, with annualized monthly volatility of 48.3% compared with 15.8% 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 -79.5% for UTSL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.49. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while UTSL charges 0.97%. On a $10,000 position that is $9 vs $97 annually, a gap of $88 per year that compounds over a long holding period. On income, SPY currently yields 0.99% against 3.18% for UTSL.
Holdings Overlap
At least 2.0% of SPY's money is in holdings UTSL also owns.
Stated as a floor: for UTSL, our book for it covers 33.0% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPY and UTSL share little of their money.
31 positions in common, counted across the 504 positions we hold weights for in SPY and 34 in UTSL, against full books of 1,515 and 80.
Top Shared Holdings
| Stock | Weight in SPY | Weight in UTSL | Difference |
|---|---|---|---|
| NEENextera Energy, Inc. | 0.26% | 2.65% | 2.39% |
| SOSouthern Co/The | 0.15% | 1.60% | 1.45% |
| DUKDuke Energy Corp | 0.14% | 1.47% | 1.33% |
| CEGConstellation Energy Corp | 0.13% | 1.42% | 1.29% |
| AEPAmerican Electric Power Co. Inc. | 0.10% | 1.08% | 0.98% |
| DDominion Energy Inc | 0.09% | 0.89% | 0.80% |
| SRESempra Common Stock | 0.08% | 0.85% | 0.77% |
| ETREntergy Corp | 0.07% | 0.78% | 0.71% |
| VSTVistra Energy Corp. | 0.07% | 0.73% | 0.66% |
| XELXcel Energy Inc Common Stock Usd 2.5 | 0.07% | 0.73% | 0.66% |
You are not choosing between two funds in isolation.
Whichever of SPY and UTSL you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or UTSL?
SPY has an expense ratio of 0.09% while UTSL charges 0.97%. SPY is the cheaper option, by $88 a year on a $10,000 investment.
Which performed better, SPY or UTSL?
Over the past year SPY returned +17.47% vs -31.12% for UTSL, so SPY leads on 1-year performance. Over the longest common window we track (9 years), SPY annualized +14.12% vs +4.65% for UTSL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or UTSL?
UTSL has been the more volatile fund at 48.3% annualized versus 15.8% for SPY. Worst drawdown: SPY -34.1% vs UTSL -79.5%.
Should I hold both SPY and UTSL?
SPY and UTSL have a monthly-return correlation of 0.49, 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 UTSL?
At least 2.0% of SPY's money is in holdings UTSL also owns. Our book for UTSL is partial, so the real figure is this or higher. They hold 31 positions in common, counted across the 504 positions we hold weights for in SPY and 34 in UTSL.
Which pays a higher dividend, SPY or UTSL?
SPY yields 0.99% while UTSL yields 3.18%, so UTSL currently pays the higher dividend yield.
Is UTSL better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 5Y and the full window, UTSL over 3Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.