COM vs. SPY

Last updated Jun 24, 2026

COM (Direxion Auspice Broad Commodity Strategy ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - COM is a Commodities fund tracking the Auspice Broad Commodity ER Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, COM returned 7.89%/yr vs 13.05%/yr for SPY. At a 0.15 correlation, their price movements are largely independent. COM charges 0.70%/yr vs 0.09%/yr for SPY.

Performance

COM vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Auspice Broad Commodity Strategy ETF (COM) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COM achieves a 11.12% return, which is significantly higher than SPY's 8.15% return.

COM

• 1D: -1.21%
• 1M: -5.08%
• YTD: 11.12%
• 6M: 10.20%
• 1Y: 18.87%
• 3Y*: 6.27%
• 5Y*: 7.89%
• 10Y*: —

SPY

• 1D: -1.45%
• 1M: -1.36%
• YTD: 8.15%
• 6M: 7.20%
• 1Y: 23.59%
• 3Y*: 20.68%
• 5Y*: 13.05%
• 10Y*: 15.53%

*Multi-year figures are annualized to reflect compound growth (CAGR)

COM vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COM Direxion Auspice Broad Commodity Strategy ETF	11.12%	7.72%	5.81%	-2.09%	9.17%	28.00%	6.63%	-0.18%	-0.03%	-1.97%
SPY State Street SPDR S&P 500 ETF	8.15%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	15.00%

Correlation

The correlation between COM and SPY is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (All Time) Calculated using the full available price history since Mar 30, 2017	0.15

The correlation between COM and SPY shifts across timeframes, from 0.05 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.

Return for Risk

COM vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COM

COM Risk / Return Rank: 54
COM Sharpe Ratio Rank: 56
COM Sortino Ratio Rank: 53
COM Omega Ratio Rank: 57
COM Calmar Ratio Rank: 52
COM Martin Ratio Rank: 54

SPY

SPY Risk / Return Rank: 59
SPY Sharpe Ratio Rank: 58
SPY Sortino Ratio Rank: 56
SPY Omega Ratio Rank: 57
SPY Calmar Ratio Rank: 56
SPY Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

COM vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Auspice Broad Commodity Strategy ETF (COM) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	COM	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.90	-0.09
Sortino ratio: Return per unit of downside risk	2.45	2.58	-0.14
Omega ratio: Gain probability vs. loss probability	1.34	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	2.45	2.67	-0.22
Martin ratio: Return relative to average drawdown	8.97	11.92	-2.95

COM vs. SPY - Sharpe Ratio Comparison

The current COM Sharpe Ratio is 1.81, which is comparable to the SPY Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of COM and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

COM vs. SPY - Drawdown Comparison

The maximum COM drawdown since its inception was -15.95%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for COM and SPY.

Drawdown Indicators

	COM	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-15.95%	-55.19%	+39.24%
Max Drawdown (1Y) Largest decline over 1 year	-7.74%	-8.88%	+1.14%
Max Drawdown (3Y) Largest decline over 3 years	-8.50%	-18.76%	+10.26%
Max Drawdown (5Y) Largest decline over 5 years	-14.02%	-24.50%	+10.48%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-7.74%	-3.17%	-4.57%
Average Drawdown Average peak-to-trough decline	-6.28%	-9.04%	+2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	1.98%	+0.14%

Volatility

COM vs. SPY - Volatility Comparison

The current volatility for Direxion Auspice Broad Commodity Strategy ETF (COM) is 2.26%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 4.87%. This indicates that COM experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COM	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.26%	4.87%	-2.61%
Volatility (6M) Calculated over the trailing 6-month period	8.61%	9.85%	-1.24%
Volatility (1Y) Calculated over the trailing 1-year period	10.59%	12.50%	-1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.55%	17.15%	-7.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.77%	17.95%	-8.18%

COM vs. SPY - Expense Ratio Comparison

COM has a 0.70% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

COM vs. SPY - Dividend Comparison

COM's dividend yield for the trailing twelve months is around 2.55%, more than SPY's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COM Direxion Auspice Broad Commodity Strategy ETF	2.55%	2.99%	3.88%	3.80%	8.59%	10.32%	0.13%	1.09%	2.36%	0.09%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.03%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both COM and SPY in my portfolio?

COM and SPY have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COM or SPY?

SPY has higher volatility (4.87%) compared to COM (2.26%). In terms of maximum drawdown, COM dropped -15.95% vs SPY's -55.19%.

Which ETF is better, COM or SPY?

On 5-year performance, SPY leads with 13.05% vs 7.89% for COM. On fees, SPY is cheaper at 0.09% per year. On volatility, COM has been the lower-risk option at 2.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COM or SPY?

Over the 5-year period, SPY has performed better with a 13.05% return vs 7.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COM or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.70% for COM.

Which ETF pays a higher dividend yield, COM or SPY?

COM has the higher dividend yield at 2.55%, compared with 1.03% for SPY.

What is the main difference between COM and SPY?

COM is categorized as Commodities, while SPY is S&P 500. COM tracks Auspice Broad Commodity ER Index, while SPY tracks S&P 500 Index. They also come from different issuers: Direxion and State Street. Their fees differ too: 0.70% for COM and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.90 vs 1.81), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.