BPH vs SPY
BP P.L.C. ADRhedged vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. BPH delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | BPH | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.19% | 0.09% | |
| AUM | $2M | $789.1B | |
| Dividend Yield | 2.70% | 1.01% | |
| Holdings | 2 | 505 | |
| YTD Return | +17.47% | +13.79% | |
| 1Y Return | +25.57% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 35.4% | 15.3% | |
| Max Drawdown | -26.3% | -56.5% | |
| Fund Family | ADRH | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jan 3, 2025 | Jan 22, 1993 |
BPH vs SPY Performance
BP P.L.C. ADRhedged (BPH) is a ETF from ADRH and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BPH returned +25.57% while SPY returned +23.66%. Year to date, BPH is up 17.47% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
BPH has been the more volatile fund, with annualized monthly volatility of 35.4% 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 -26.3% for BPH 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 -0.19. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BPH charges 0.19% per year while SPY charges 0.09%. On a $10,000 position that is $19 vs $9 annually, a gap of $10 per year that compounds over a long holding period. On income, BPH currently yields 2.70% against 1.01% for SPY.
Holdings Overlap
BPH 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, BPH or SPY?
BPH has an expense ratio of 0.19% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $10 per year of difference.
Which performed better, BPH or SPY?
Over the past year BPH returned +25.57% vs +23.66% for SPY, so BPH leads on 1-year performance. Over the longest common window we track (2 years), BPH annualized +17.33% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, BPH or SPY?
BPH has been the more volatile fund at 35.4% annualized versus 15.3% for SPY. Worst drawdown: BPH -26.3% vs SPY -56.5%.
Should I hold both BPH and SPY?
BPH and SPY have a monthly-return correlation of -0.19, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BPH and SPY?
BPH and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, BPH or SPY?
BPH yields 2.70% while SPY yields 1.01%, so BPH currently pays the higher dividend yield.
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