OUSA vs SPY
O Shares US Quality Dividend 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 | OUSA | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.48% | 0.09% | |
| AUM | $754M | $789.1B | |
| Dividend Yield | 1.47% | 1.01% | |
| Holdings | 101 | 505 | |
| YTD Return | +9.10% | +13.75% | |
| 1Y Return | +15.25% | +22.91% | |
| 3Y Return (annualized) | +13.91% | +21.67% | |
| 5Y Return (annualized) | +9.16% | +13.32% | |
| Volatility (annualized) | 13.2% | 15.3% | |
| Max Drawdown | -33.4% | -56.5% | |
| Fund Family | ALPS Advisors | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 14, 2015 | Jan 22, 1993 |
OUSA vs SPY Performance
O Shares US Quality Dividend ETF (OUSA) is a ETF from ALPS Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year OUSA returned +15.25% while SPY returned +22.91%. Year to date, OUSA is up 9.10% versus a gain of 13.75% for SPY.
Over three years, OUSA compounded at +13.91% per year against +21.67% for SPY; over five years the annualized figures are +9.16% and +13.32% respectively. Across the full 11-year window we track, OUSA has the edge at +9.48% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.2% for OUSA. 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 -33.4% for OUSA 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
OUSA charges 0.48% per year while SPY charges 0.09%. On a $10,000 position that is $48 vs $9 annually, a gap of $39 per year that compounds over a long holding period. On income, OUSA currently yields 1.47% against 1.01% for SPY.
Holdings Overlap
OUSA and SPY share 99 holdings out of 504 unique holdings combined, representing a 34.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, OUSA or SPY?
OUSA has an expense ratio of 0.48% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $39 per year of difference.
Which performed better, OUSA or SPY?
Over the past year OUSA returned +15.25% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (11 years), OUSA annualized +9.48% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, OUSA or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.2% for OUSA. Worst drawdown: OUSA -33.4% vs SPY -56.5%.
Should I hold both OUSA and SPY?
OUSA and SPY have a monthly-return correlation of 0.91, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between OUSA and SPY?
OUSA and SPY share 99 common holdings with a 34.9% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, OUSA or SPY?
OUSA yields 1.47% while SPY yields 1.01%, so OUSA currently pays the higher dividend yield.
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