SLTY vs SPY
YieldMax Ultra Short Option Income Strategy 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 | SLTY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.25% | 0.09% | |
| AUM | $18M | $789.1B | |
| Dividend Yield | 73.59% | 1.01% | |
| Holdings | 113 | 505 | |
| YTD Return | -7.64% | +13.39% | |
| 1Y Return | -20.76% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 16.3% | 15.3% | |
| Max Drawdown | -20.9% | -56.5% | |
| Fund Family | YieldMax ETF | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Aug 20, 2025 | Jan 22, 1993 |
SLTY vs SPY Performance
YieldMax Ultra Short Option Income Strategy ETF (SLTY) is a ETF from YieldMax ETF and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SLTY returned -20.76% while SPY returned +22.52%. Year to date, SLTY is down 7.64% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
SLTY has been the more volatile fund, with annualized monthly volatility of 16.3% 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 -20.9% for SLTY 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 -0.72. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SLTY charges 1.25% per year while SPY charges 0.09%. On a $10,000 position that is $125 vs $9 annually, a gap of $116 per year that compounds over a long holding period. On income, SLTY currently yields 73.59% against 1.01% for SPY.
Holdings Overlap
SLTY and SPY share 15 holdings out of 516 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SLTY or SPY?
SLTY has an expense ratio of 1.25% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $116 per year of difference.
Which performed better, SLTY or SPY?
Over the past year SLTY returned -20.76% vs +22.52% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results.
Which is riskier, SLTY or SPY?
SLTY has been the more volatile fund at 16.3% annualized versus 15.3% for SPY. Worst drawdown: SLTY -20.9% vs SPY -56.5%.
Should I hold both SLTY and SPY?
SLTY and SPY have a monthly-return correlation of -0.72, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SLTY and SPY?
SLTY and SPY share 15 common holdings with a 0.0% weight overlap. Combined, they hold 516 unique securities.
Which pays a higher dividend, SLTY or SPY?
SLTY yields 73.59% while SPY yields 1.01%, so SLTY currently pays the higher dividend yield.
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