JPO vs SPY
YieldMax JP Option Income Strategy ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, JPO or SPY?
Multi Alternative against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window.
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 | JPO | SPY |
|---|---|---|
| Expense Ratio | 1.04% | 0.09%Best |
| AUM | $50M | $804.7B |
| Dividend Yield | 31.70% | 0.98% |
| Holdings | 16 | 505 |
| YTD Return | +7.02% | +12.47%Best |
| 1Y Return | +12.79% | +17.51%Best |
| 3Y Return (annualized) | +16.60% | +21.18%Best |
| 5Y Return (annualized) | - | +12.88% |
| Volatility (annualized) | 15.4% | 12.4%Best |
| Max Drawdown | -24.8% | -18.8%Best |
| $10,000 over 3 years | $15,852 | $17,795Best |
| Fund Family | YieldMax ETF | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Sep 11, 2023 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Sep 12, 2023 to Sep 11, 2026 (3 years).
JPO 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 covers the 3 years both funds cover.
JPO vs SPY Performance
YieldMax JP Option Income Strategy ETF (JPO) 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 JPO returned +12.79% while SPY returned +17.51%. Year to date, JPO is up 7.02% versus a gain of 12.47% for SPY.
Over three years, JPO compounded at +16.60% per year against +21.18% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JPO has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 12.4% 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 -24.8% for JPO and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.60. They move together some of the time, and apart the rest.
Fees and Cost Over Time
JPO charges 1.04% per year while SPY charges 0.09%. On a $10,000 position that is $104 vs $9 annually, a gap of $95 per year that compounds over a long holding period. On income, JPO currently yields 31.70% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 2 holdings in JPO and 504 in SPY, totalling 23.0% 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 JPO and 504 in SPY, against full books of 16 and 505.
You are not choosing between two funds in isolation.
Whichever of JPO 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, JPO or SPY?
JPO has an expense ratio of 1.04% while SPY charges 0.09%. SPY is the cheaper option, by $95 a year on a $10,000 investment.
Which performed better, JPO or SPY?
Over the past year JPO returned +12.79% 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, JPO or SPY?
JPO has been the more volatile fund at 15.4% annualized versus 12.4% for SPY. Worst drawdown: JPO -24.8% vs SPY -18.8%.
Should I hold both JPO and SPY?
JPO and SPY have a monthly-return correlation of 0.60, 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, JPO or SPY?
JPO yields 31.70% while SPY yields 0.98%, so JPO currently pays the higher dividend yield.
Is SPY better than JPO?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.