CONY vs SPY
YieldMax COIN Option Income Strategy 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 503 holdings.
Side-by-Side Comparison
| Metric | CONY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.22% | 0.09% | |
| AUM | $368M | $789.1B | |
| Dividend Yield | 192.35% | 1.01% | |
| Holdings | 23 | 505 | |
| YTD Return | -32.75% | +13.39% | |
| 1Y Return | -48.88% | +22.52% | |
| 3Y Return (annualized) | +4.82% | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 60.5% | 15.3% | |
| Max Drawdown | -63.6% | -56.5% | |
| Fund Family | YieldMax ETF | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Aug 14, 2023 | Jan 22, 1993 |
CONY vs SPY Performance
YieldMax COIN Option Income Strategy ETF (CONY) is a ETF from YieldMax ETF and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CONY returned -48.88% while SPY returned +22.52%. Year to date, CONY is down 32.75% versus a gain of 13.39% for SPY.
Over three years, CONY compounded at +4.82% per year against +21.36% for SPY. Across the full 3-year window we track, SPY has the edge at +8.84% annualized vs +4.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CONY has been the more volatile fund, with annualized monthly volatility of 60.5% 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 -63.6% for CONY 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 0.59. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CONY charges 1.22% per year while SPY charges 0.09%. On a $10,000 position that is $122 vs $9 annually, a gap of $113 per year that compounds over a long holding period. On income, CONY currently yields 192.35% against 1.01% for SPY.
Holdings Overlap
CONY and SPY share 0 holdings out of 505 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, CONY or SPY?
CONY has an expense ratio of 1.22% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $113 per year of difference.
Which performed better, CONY or SPY?
Over the past year CONY returned -48.88% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), CONY annualized +4.82% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, CONY or SPY?
CONY has been the more volatile fund at 60.5% annualized versus 15.3% for SPY. Worst drawdown: CONY -63.6% vs SPY -56.5%.
Should I hold both CONY and SPY?
CONY and SPY have a monthly-return correlation of 0.59, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CONY and SPY?
CONY and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, CONY or SPY?
CONY yields 192.35% while SPY yields 1.01%, so CONY currently pays the higher dividend yield.
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