SOLT vs SPY
2x Solana 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 | SOLT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.85% | 0.09% | |
| AUM | $122M | $789.1B | |
| Dividend Yield | 5.79% | 1.01% | |
| Holdings | 2 | 505 | |
| YTD Return | -76.12% | +14.47% | |
| 1Y Return | -93.05% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 80.2% | 15.3% | |
| Max Drawdown | -96.3% | -56.5% | |
| Fund Family | Volatility Shares, LLC | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Mar 20, 2025 | Jan 22, 1993 |
SOLT vs SPY Performance
2x Solana ETF (SOLT) 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 SOLT returned -93.05% while SPY returned +21.96%. Year to date, SOLT is down 76.12% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
SOLT has been the more volatile fund, with annualized monthly volatility of 80.2% 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 -96.3% for SOLT 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 0.30. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SOLT charges 1.85% per year while SPY charges 0.09%. On a $10,000 position that is $185 vs $9 annually, a gap of $176 per year that compounds over a long holding period. On income, SOLT currently yields 5.79% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, SOLT or SPY?
SOLT has an expense ratio of 1.85% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $176 per year of difference.
Which performed better, SOLT or SPY?
Over the past year SOLT returned -93.05% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), SOLT annualized -77.63% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, SOLT or SPY?
SOLT has been the more volatile fund at 80.2% annualized versus 15.3% for SPY. Worst drawdown: SOLT -96.3% vs SPY -56.5%.
Should I hold both SOLT and SPY?
SOLT and SPY have a monthly-return correlation of 0.30, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, SOLT or SPY?
SOLT yields 5.79% while SPY yields 1.01%, so SOLT currently pays the higher dividend yield.
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