BCOR vs SPY
Grayscale Bitcoin Adopters ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | BCOR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.59% | 0.09% | |
| AUM | $2M | $789.1B | |
| Dividend Yield | 3.60% | 1.01% | |
| Holdings | 42 | 505 | |
| YTD Return | -16.69% | +14.47% | |
| 1Y Return | -31.92% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 37.1% | 15.3% | |
| Max Drawdown | -43.0% | -56.5% | |
| Fund Family | Grayscale | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Apr 30, 2025 | Jan 22, 1993 |
BCOR vs SPY Performance
Grayscale Bitcoin Adopters ETF (BCOR) is a ETF from Grayscale and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BCOR returned -31.92% while SPY returned +21.96%. Year to date, BCOR is down 16.69% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
BCOR has been the more volatile fund, with annualized monthly volatility of 37.1% compared with 15.3% 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 -43.0% for BCOR and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BCOR charges 0.59% per year while SPY charges 0.09%. On a $10,000 position that is $59 vs $9 annually, a gap of $50 per year that compounds over a long holding period. On income, BCOR currently yields 3.60% against 1.01% for SPY.
Holdings Overlap
BCOR and SPY share 0 holdings out of 504 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BCOR or SPY?
BCOR has an expense ratio of 0.59% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $50 per year of difference.
Which performed better, BCOR or SPY?
Over the past year BCOR returned -31.92% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), BCOR annualized -8.33% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, BCOR or SPY?
BCOR has been the more volatile fund at 37.1% annualized versus 15.3% for SPY. Worst drawdown: BCOR -43.0% vs SPY -56.5%.
Should I hold both BCOR and SPY?
BCOR and SPY have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BCOR and SPY?
BCOR and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, BCOR or SPY?
BCOR yields 3.60% while SPY yields 1.01%, so BCOR currently pays the higher dividend yield.
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