LOUP vs SPY
Innovator Deepwater Frontier Tech ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. LOUP delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | LOUP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.70% | 0.09% | |
| AUM | $227M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 32 | 505 | |
| YTD Return | +16.38% | +12.22% | |
| 1Y Return | +45.05% | +20.83% | |
| 3Y Return (annualized) | +35.26% | +21.70% | |
| 5Y Return (annualized) | +12.70% | +12.98% | |
| Volatility (annualized) | 31.2% | 15.3% | |
| Max Drawdown | -58.7% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 24, 2018 | Jan 22, 1993 |
LOUP vs SPY Performance
Innovator Deepwater Frontier Tech ETF (LOUP) is a ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year LOUP returned +45.05% while SPY returned +20.83%. Year to date, LOUP is up 16.38% versus a gain of 12.22% for SPY.
Over three years, LOUP compounded at +35.26% per year against +21.70% for SPY; over five years the annualized figures are +12.70% and +12.98% respectively. Across the full 8-year window we track, LOUP has the edge at +17.15% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
LOUP has been the more volatile fund, with annualized monthly volatility of 31.2% 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 -58.7% for LOUP 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
LOUP charges 0.70% per year while SPY charges 0.09%. On a $10,000 position that is $70 vs $9 annually, a gap of $61 per year that compounds over a long holding period. On income, LOUP currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
LOUP and SPY share 11 holdings out of 523 unique holdings combined, representing a 2.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, LOUP or SPY?
LOUP has an expense ratio of 0.70% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $61 per year of difference.
Which performed better, LOUP or SPY?
Over the past year LOUP returned +45.05% vs +20.83% for SPY, so LOUP leads on 1-year performance. Over the longest common window we track (8 years), LOUP annualized +17.15% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, LOUP or SPY?
LOUP has been the more volatile fund at 31.2% annualized versus 15.3% for SPY. Worst drawdown: LOUP -58.7% vs SPY -56.5%.
Should I hold both LOUP and SPY?
LOUP and SPY have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between LOUP and SPY?
LOUP and SPY share 11 common holdings with a 2.1% weight overlap. Combined, they hold 523 unique securities.
Which pays a higher dividend, LOUP or SPY?
LOUP yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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