ETH vs SPY
ETH vs SPY
Grayscale Ethereum Staking Mini 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 | ETH | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.09% | |
| AUM | $1.6B | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 1 | 505 | |
| YTD Return | -37.94% | +13.79% | |
| 1Y Return | -49.85% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 74.0% | 15.3% | |
| Max Drawdown | -67.5% | -56.5% | |
| Fund Family | Grayscale | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jul 23, 2024 | Jan 22, 1993 |
ETH vs SPY Performance
Grayscale Ethereum Staking Mini ETF (ETH) 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 ETH returned -49.85% while SPY returned +23.66%. Year to date, ETH is down 37.94% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
ETH has been the more volatile fund, with annualized monthly volatility of 74.0% 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 -67.5% for ETH 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 0.42. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ETH charges 0.15% per year while SPY charges 0.09%. On a $10,000 position that is $15 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, ETH currently yields 0.00% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, ETH or SPY?
ETH has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, ETH or SPY?
Over the past year ETH returned -49.85% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), ETH annualized -24.79% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, ETH or SPY?
ETH has been the more volatile fund at 74.0% annualized versus 15.3% for SPY. Worst drawdown: ETH -67.5% vs SPY -56.5%.
Should I hold both ETH and SPY?
ETH and SPY have a monthly-return correlation of 0.42, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, ETH or SPY?
ETH yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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