CHPY vs SPY
YieldMax Semiconductor Portfolio Option Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CHPY or SPY?
Multi Alternative against Large Cap Blend.
SPY has a lower expense ratio. CHPY led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 49.2%.
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 | CHPY | SPY |
|---|---|---|
| Expense Ratio | 1.03% | 0.09%Best |
| AUM | $1.1B | $814.4B |
| Dividend Yield | 39.65% | 1.01% |
| Holdings | 120 | 505 |
| YTD Return | +53.92%Best | +13.34% |
| 1Y Return | +95.08%Best | +19.97% |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +12.81% |
| Volatility (annualized) | 37.8% | 12.0%Best |
| Max Drawdown | -27.6% | -8.9%Best |
| $10,000 over 1.4 years | $25,643Best | $14,473 |
| Top 10 Weight | 49.2% | 38.0%Best |
| Fund Family | YieldMax ETF | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Apr 2, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: Apr 3, 2025 to Sep 4, 2026 (1.4 years).
CHPY vs SPY 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 1.4 years both funds cover.
CHPY vs SPY Performance
YieldMax Semiconductor Portfolio Option Income ETF (CHPY) is an ETF from YieldMax ETF and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CHPY returned +95.08% while SPY returned +19.97%. Year to date, CHPY is up 53.92% versus a gain of 13.34% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CHPY has been the more volatile fund, with annualized monthly volatility of 37.8% compared with 12.0% 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 -27.6% for CHPY and -8.9% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.69. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CHPY charges 1.03% per year while SPY charges 0.09%. On a $10,000 position that is $103 vs $9 annually, a gap of $94 per year that compounds over a long holding period. On income, CHPY currently yields 39.65% against 1.01% for SPY.
Holdings Overlap
66.3% of CHPY's money is in holdings SPY also owns. 17.6% of SPY's money is in holdings CHPY also owns.
The two portfolios partly overlap.
18 positions in common, counted across the 29 positions we hold weights for in CHPY and 504 in SPY, against full books of 120 and 505.
What only one of them owns
Our book lists 478 positions for SPY that do not appear in our book for CHPY (81.9% of the fund), and 5 for CHPY that do not appear in SPY (12.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CHPY | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 6.39% | 7.71% | 1.32% |
| AVGOBroadcom Inc | 6.03% | 2.97% | 3.06% |
| AMDAdvanced Micro Devices Inc | 5.16% | 1.27% | 3.89% |
| MUMicron Technology, Inc. | 4.47% | 1.51% | 2.96% |
| LRCXLrcx Uw Equity | 5.21% | 0.60% | 4.61% |
| INTCIntel Corporation | 4.83% | 0.72% | 4.11% |
| MRVLMarvell Technology Group Ltd. | 4.91% | 0.29% | 4.62% |
| AMATApplied Materials, Inc. | 3.78% | 0.65% | 3.13% |
| KLACKla Corp | 3.70% | 0.38% | 3.32% |
| TXNTexas Instrument Inc | 2.93% | 0.39% | 2.54% |
66.3% of CHPY is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CHPY or SPY?
CHPY has an expense ratio of 1.03% while SPY charges 0.09%. SPY is the cheaper option, by $94 a year on a $10,000 investment.
Which performed better, CHPY or SPY?
Over the past year CHPY returned +95.08% vs +19.97% for SPY, so CHPY leads on 1-year performance. Over the longest common window we track (1 years), CHPY annualized +95.94% vs +30.22% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CHPY or SPY?
CHPY has been the more volatile fund at 37.8% annualized versus 12.0% for SPY. Worst drawdown: CHPY -27.6% vs SPY -8.9%.
Should I hold both CHPY and SPY?
CHPY and SPY have a monthly-return correlation of 0.69, 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 CHPY and SPY?
66.3% of CHPY's money is in holdings SPY also owns. 17.6% of SPY's is in holdings CHPY also owns. They hold 18 positions in common, counted across the 29 positions we hold weights for in CHPY and 504 in SPY.
Which pays a higher dividend, CHPY or SPY?
CHPY yields 39.65% while SPY yields 1.01%, so CHPY currently pays the higher dividend yield.
Is SPY better than CHPY?
SPY has a lower expense ratio. CHPY led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 49.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.