HIYY vs SPY
YieldMax HIMS Option Income Strategy ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, HIYY or SPY?
Option Writing against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y.
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 | HIYY | SPY |
|---|---|---|
| Expense Ratio | 1.01% | 0.09%Best |
| AUM | $12M | $804.7B |
| Dividend Yield | 134.71% | 0.98% |
| Holdings | 17 | 505 |
| YTD Return | -19.91% | +12.47%Best |
| 1Y Return | -48.49% | +17.51%Best |
| 3Y Return (annualized) | - | +21.18% |
| 5Y Return (annualized) | - | +12.88% |
| Volatility (annualized) | 75.4% | 13.2%Best |
| Fund Family | YieldMax ETF | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Option Writing | Large Cap Blend |
| Inception | Sep 22, 2025 | Jan 22, 1993 |
Not shown on this pair: Max Drawdown, $10,000 over the window, Top 10 Weight.
HIYY 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
HIYY vs SPY Performance
YieldMax HIMS Option Income Strategy ETF (HIYY) 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 HIYY returned -48.49% while SPY returned +17.51%. Year to date, HIYY is down 19.91% versus a gain of 12.47% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HIYY has been the more volatile fund, with annualized monthly volatility of 75.4% compared with 13.2% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.08. They move largely independently of each other.
Fees and Cost Over Time
HIYY charges 1.01% per year while SPY charges 0.09%. On a $10,000 position that is $101 vs $9 annually, a gap of $92 per year that compounds over a long holding period. On income, HIYY currently yields 134.71% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 2 holdings in HIYY and 504 in SPY, totalling 21.8% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 2 positions we hold weights for in HIYY and 504 in SPY, against full books of 17 and 505.
You are not choosing between two funds in isolation.
Whichever of HIYY and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HIYY or SPY?
HIYY has an expense ratio of 1.01% while SPY charges 0.09%. SPY is the cheaper option, by $92 a year on a $10,000 investment.
Which performed better, HIYY or SPY?
Over the past year HIYY returned -48.49% vs +17.51% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HIYY or SPY?
HIYY has been the more volatile fund at 75.4% annualized versus 13.2% for SPY.
Should I hold both HIYY and SPY?
HIYY and SPY have a monthly-return correlation of 0.08, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, HIYY or SPY?
HIYY yields 134.71% while SPY yields 0.98%, so HIYY currently pays the higher dividend yield.
Is SPY better than HIYY?
SPY has a lower expense ratio. SPY led over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.