ICRC vs SPY
Bitwise CRCL Option Income Strategy ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | ICRC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.98% | 0.09% | |
| AUM | - | $789.1B | |
| Dividend Yield | - | 1.01% | |
| Holdings | 4 | 505 | |
| YTD Return | -31.52% | +13.68% | |
| 1Y Return | - | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | - | 15.3% | |
| Max Drawdown | -56.1% | -56.5% | |
| Fund Family | Bitwise | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Oct 1, 2025 | Jan 22, 1993 |
ICRC vs SPY Performance
Bitwise CRCL Option Income Strategy ETF (ICRC) is a ETF from Bitwise and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Year to date, ICRC is down 31.52% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -56.1% for ICRC and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
ICRC charges 0.98% per year while SPY charges 0.09%. On a $10,000 position that is $98 vs $9 annually, a gap of $89 per year that compounds over a long holding period.
Frequently Asked Questions
Which is cheaper, ICRC or SPY?
ICRC has an expense ratio of 0.98% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $89 per year of difference.
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