Correlation
The correlation between TZA and SPY is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
TZA vs. SPY
Compare and contrast key facts about Direxion Daily Small Cap Bear 3X Shares (TZA) and SPDR S&P 500 ETF (SPY).
TZA and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TZA is a passively managed fund by Direxion that tracks the performance of the Russell 2000 Index (-300%). It was launched on Nov 5, 2008. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both TZA and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TZA or SPY.
Performance
TZA vs. SPY - Performance Comparison
Loading data...
Key characteristics
TZA:
-0.30
SPY:
0.64
TZA:
0.08
SPY:
1.04
TZA:
1.01
SPY:
1.15
TZA:
-0.21
SPY:
0.69
TZA:
-0.70
SPY:
2.64
TZA:
29.39%
SPY:
4.91%
TZA:
73.58%
SPY:
20.47%
TZA:
-100.00%
SPY:
-55.19%
TZA:
-100.00%
SPY:
-3.26%
Returns By Period
In the year-to-date period, TZA achieves a 5.36% return, which is significantly higher than SPY's 1.17% return. Over the past 10 years, TZA has underperformed SPY with an annualized return of -37.28%, while SPY has yielded a comparatively higher 12.78% annualized return.
TZA
5.36%
-19.22%
34.46%
-22.07%
-26.05%
-40.66%
-37.28%
SPY
1.17%
7.36%
-0.95%
13.08%
14.15%
15.98%
12.78%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
TZA vs. SPY - Expense Ratio Comparison
TZA has a 1.11% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
TZA vs. SPY — Risk-Adjusted Performance Rank
TZA
SPY
TZA vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Small Cap Bear 3X Shares (TZA) and 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.
Loading data...
Dividends
TZA vs. SPY - Dividend Comparison
TZA's dividend yield for the trailing twelve months is around 5.22%, more than SPY's 1.21% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TZA Direxion Daily Small Cap Bear 3X Shares | 5.22% | 5.40% | 5.49% | 0.00% | 0.00% | 1.21% | 1.57% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.21% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
TZA vs. SPY - Drawdown Comparison
The maximum TZA drawdown since its inception was -100.00%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for TZA and SPY.
Loading data...
Volatility
TZA vs. SPY - Volatility Comparison
Direxion Daily Small Cap Bear 3X Shares (TZA) has a higher volatility of 19.44% compared to SPDR S&P 500 ETF (SPY) at 4.78%. This indicates that TZA's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading data...