OOQB vs SPY
One+One Nasdaq-100 and Bitcoin 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 503 holdings.
Side-by-Side Comparison
| Metric | OOQB | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.09% | |
| AUM | $696,442.48 | $789.1B | |
| Dividend Yield | 13.88% | 1.01% | |
| Holdings | 4 | 505 | |
| YTD Return | -20.22% | +14.47% | |
| 1Y Return | +9.78% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 43.8% | 15.3% | |
| Max Drawdown | -53.4% | -56.5% | |
| Fund Family | Volatility Shares, LLC | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Feb 19, 2025 | Jan 22, 1993 |
OOQB vs SPY Performance
One+One Nasdaq-100 and Bitcoin ETF (OOQB) is a ETF from Volatility Shares, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year OOQB returned +9.78% while SPY returned +21.96%. Year to date, OOQB is down 20.22% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
OOQB has been the more volatile fund, with annualized monthly volatility of 43.8% 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 -53.4% for OOQB 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 0.62. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
OOQB charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, OOQB currently yields 13.88% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, OOQB or SPY?
OOQB has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, OOQB or SPY?
Over the past year OOQB returned +9.78% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), OOQB annualized -26.16% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, OOQB or SPY?
OOQB has been the more volatile fund at 43.8% annualized versus 15.3% for SPY. Worst drawdown: OOQB -53.4% vs SPY -56.5%.
Should I hold both OOQB and SPY?
OOQB and SPY have a monthly-return correlation of 0.62, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, OOQB or SPY?
OOQB yields 13.88% while SPY yields 1.01%, so OOQB currently pays the higher dividend yield.
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