ETHU vs SPY
2x Ether 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 | ETHU | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 2.67% | 0.09% | |
| AUM | $782M | $789.1B | |
| Dividend Yield | 6.74% | 1.01% | |
| Holdings | 2 | 505 | |
| YTD Return | -73.97% | +13.75% | |
| 1Y Return | -89.52% | +22.91% | |
| 3Y Return (annualized) | - | +21.67% | |
| 5Y Return (annualized) | - | +13.32% | |
| Volatility (annualized) | 150.2% | 15.3% | |
| Max Drawdown | -96.5% | -56.5% | |
| Fund Family | Volatility Shares, LLC | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jun 4, 2024 | Jan 22, 1993 |
ETHU vs SPY Performance
2x Ether ETF (ETHU) is a ETF from Volatility Shares, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ETHU returned -89.52% while SPY returned +22.91%. Year to date, ETHU is down 73.97% versus a gain of 13.75% for SPY.
Risk: Volatility and Drawdowns
ETHU has been the more volatile fund, with annualized monthly volatility of 150.2% 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 -96.5% for ETHU 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
ETHU charges 2.67% per year while SPY charges 0.09%. On a $10,000 position that is $267 vs $9 annually, a gap of $258 per year that compounds over a long holding period. On income, ETHU currently yields 6.74% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, ETHU or SPY?
ETHU has an expense ratio of 2.67% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $258 per year of difference.
Which performed better, ETHU or SPY?
Over the past year ETHU returned -89.52% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), ETHU annualized -74.23% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, ETHU or SPY?
ETHU has been the more volatile fund at 150.2% annualized versus 15.3% for SPY. Worst drawdown: ETHU -96.5% vs SPY -56.5%.
Should I hold both ETHU and SPY?
ETHU 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, ETHU or SPY?
ETHU yields 6.74% while SPY yields 1.01%, so ETHU currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.