OZEM vs SPY
Roundhill GLP-1 & Weight Loss ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. OZEM delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | OZEM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.59% | 0.09% | |
| AUM | $63M | $789.1B | |
| Dividend Yield | 0.21% | 1.01% | |
| Holdings | 28 | 505 | |
| YTD Return | -1.92% | +13.39% | |
| 1Y Return | +43.83% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 20.1% | 15.3% | |
| Max Drawdown | -28.6% | -56.5% | |
| Fund Family | Roundhill Investments | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 21, 2024 | Jan 22, 1993 |
OZEM vs SPY Performance
Roundhill GLP-1 & Weight Loss ETF (OZEM) is a ETF from Roundhill Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year OZEM returned +43.83% while SPY returned +22.52%. Year to date, OZEM is down 1.92% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
OZEM has been the more volatile fund, with annualized monthly volatility of 20.1% 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 -28.6% for OZEM 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 0.25. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
OZEM charges 0.59% per year while SPY charges 0.09%. On a $10,000 position that is $59 vs $9 annually, a gap of $50 per year that compounds over a long holding period. On income, OZEM currently yields 0.21% against 1.01% for SPY.
Holdings Overlap
OZEM and SPY share 4 holdings out of 524 unique holdings combined, representing a 2.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, OZEM or SPY?
OZEM has an expense ratio of 0.59% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $50 per year of difference.
Which performed better, OZEM or SPY?
Over the past year OZEM returned +43.83% vs +22.52% for SPY, so OZEM leads on 1-year performance. Over the longest common window we track (2 years), OZEM annualized +14.30% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, OZEM or SPY?
OZEM has been the more volatile fund at 20.1% annualized versus 15.3% for SPY. Worst drawdown: OZEM -28.6% vs SPY -56.5%.
Should I hold both OZEM and SPY?
OZEM and SPY have a monthly-return correlation of 0.25, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between OZEM and SPY?
OZEM and SPY share 4 common holdings with a 2.2% weight overlap. Combined, they hold 524 unique securities.
Which pays a higher dividend, OZEM or SPY?
OZEM yields 0.21% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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