HOOY vs SPY
YieldMax HOOD 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 505 holdings.
Side-by-Side Comparison
| Metric | HOOY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.99% | 0.09% | |
| AUM | $132M | $821.1B | |
| Dividend Yield | 149.04% | 1.01% | |
| Holdings | 19 | 505 | |
| YTD Return | -7.68% | +12.68% | |
| 1Y Return | -7.01% | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 53.4% | 15.3% | |
| Max Drawdown | -51.5% | -56.5% | |
| Fund Family | YieldMax ETF | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | May 7, 2025 | Jan 22, 1993 |
HOOY vs SPY Performance
YieldMax HOOD Option Income Strategy ETF (HOOY) 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 HOOY returned -7.01% while SPY returned +21.82%. Year to date, HOOY is down 7.68% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
HOOY has been the more volatile fund, with annualized monthly volatility of 53.4% 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 -51.5% for HOOY 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 0.55. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
HOOY charges 0.99% per year while SPY charges 0.09%. On a $10,000 position that is $99 vs $9 annually, a gap of $90 per year that compounds over a long holding period. On income, HOOY currently yields 149.04% against 1.01% for SPY.
Holdings Overlap
HOOY 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, HOOY or SPY?
HOOY has an expense ratio of 0.99% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $90 per year of difference.
Which performed better, HOOY or SPY?
Over the past year HOOY returned -7.01% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), HOOY annualized +40.29% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, HOOY or SPY?
HOOY has been the more volatile fund at 53.4% annualized versus 15.3% for SPY. Worst drawdown: HOOY -51.5% vs SPY -56.5%.
Should I hold both HOOY and SPY?
HOOY and SPY have a monthly-return correlation of 0.55, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HOOY and SPY?
HOOY and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, HOOY or SPY?
HOOY yields 149.04% while SPY yields 1.01%, so HOOY currently pays the higher dividend yield.
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