FIAT vs SPY
YieldMax Short COIN Option Income Strategy ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. FIAT delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | FIAT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.05% | 0.09% | |
| AUM | $34M | $789.1B | |
| Dividend Yield | 90.65% | 1.01% | |
| Holdings | 18 | 505 | |
| YTD Return | +21.51% | +13.68% | |
| 1Y Return | +46.96% | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 55.5% | 15.3% | |
| Max Drawdown | -70.5% | -56.5% | |
| Fund Family | YieldMax ETF | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jul 9, 2024 | Jan 22, 1993 |
FIAT vs SPY Performance
YieldMax Short COIN Option Income Strategy ETF (FIAT) 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 FIAT returned +46.96% while SPY returned +21.53%. Year to date, FIAT is up 21.51% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
FIAT has been the more volatile fund, with annualized monthly volatility of 55.5% 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 -70.5% for FIAT 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 -0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FIAT charges 1.05% per year while SPY charges 0.09%. On a $10,000 position that is $105 vs $9 annually, a gap of $96 per year that compounds over a long holding period. On income, FIAT currently yields 90.65% against 1.01% for SPY.
Holdings Overlap
FIAT 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, FIAT or SPY?
FIAT has an expense ratio of 1.05% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $96 per year of difference.
Which performed better, FIAT or SPY?
Over the past year FIAT returned +46.96% vs +21.53% for SPY, so FIAT leads on 1-year performance. Over the longest common window we track (2 years), FIAT annualized -19.16% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, FIAT or SPY?
FIAT has been the more volatile fund at 55.5% annualized versus 15.3% for SPY. Worst drawdown: FIAT -70.5% vs SPY -56.5%.
Should I hold both FIAT and SPY?
FIAT and SPY have a monthly-return correlation of -0.57, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FIAT and SPY?
FIAT and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, FIAT or SPY?
FIAT yields 90.65% while SPY yields 1.01%, so FIAT 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.