SPY vs SPYQ
State Street SPDR S&P 500 ETF Trust vs Tradr 2X Long SPY Quarterly ETF
Quick Verdict
SPY has a lower expense ratio. SPYQ delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | SPYQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.95% | |
| AUM | $821.1B | $14M | |
| Dividend Yield | 1.01% | 0.15% | |
| Holdings | 505 | 9 | |
| YTD Return | +14.24% | +23.01% | |
| 1Y Return | +21.71% | +34.80% | |
| 3Y Return (annualized) | +22.10% | - | |
| 5Y Return (annualized) | +13.21% | - | |
| Volatility (annualized) | 15.3% | 26.2% | |
| Max Drawdown | -56.5% | -35.9% | |
| Fund Family | State Street Investment Management | Tradr ETFs | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Sep 30, 2024 |
SPY vs SPYQ Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Tradr 2X Long SPY Quarterly ETF (SPYQ) is a ETF from Tradr ETFs. Over the past year SPY returned +21.71% while SPYQ returned +34.80%. Year to date, SPY is up 14.24% versus a gain of 23.01% for SPYQ.
Risk: Volatility and Drawdowns
SPYQ has been the more volatile fund, with annualized monthly volatility of 26.2% 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 -56.5% for SPY and -35.9% for SPYQ. 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 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPY charges 0.09% per year while SPYQ charges 0.95%. On a $10,000 position that is $9 vs $95 annually, a gap of $86 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.15% for SPYQ.
Holdings Overlap
SPY and SPYQ share 0 holdings out of 505 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, SPY or SPYQ?
SPY has an expense ratio of 0.09% while SPYQ charges 0.95%. SPY is the cheaper option. On a $10,000 investment, that is $86 per year of difference.
Which performed better, SPY or SPYQ?
Over the past year SPY returned +21.71% vs +34.80% for SPYQ, so SPYQ leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +8.86% vs +29.85% for SPYQ. Past performance does not guarantee future results.
Which is riskier, SPY or SPYQ?
SPYQ has been the more volatile fund at 26.2% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs SPYQ -35.9%.
Should I hold both SPY and SPYQ?
SPY and SPYQ have a monthly-return correlation of 1.00, 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 SPY and SPYQ?
SPY and SPYQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, SPY or SPYQ?
SPY yields 1.01% while SPYQ yields 0.15%, so SPY currently pays the higher dividend yield.
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