SPY vs SRTY
State Street SPDR S&P 500 ETF Trust vs ProShares UltraPro Short Russell2000
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 | SPY | SRTY | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.95% | |
| AUM | $789.1B | $80M | |
| Dividend Yield | 1.01% | 8.93% | |
| Holdings | 505 | 14 | |
| YTD Return | +13.75% | -46.70% | |
| 1Y Return | +22.91% | -64.78% | |
| 3Y Return (annualized) | +21.67% | -45.36% | |
| 5Y Return (annualized) | +13.32% | -33.25% | |
| Volatility (annualized) | 15.3% | 53.6% | |
| Max Drawdown | -56.5% | -100.0% | |
| Fund Family | State Street Investment Management | ProShares | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Feb 9, 2010 |
SPY vs SRTY Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and ProShares UltraPro Short Russell2000 (SRTY) is a ETF from ProShares. Over the past year SPY returned +22.91% while SRTY returned -64.78%. Year to date, SPY is up 13.75% versus a loss of 46.70% for SRTY.
Over three years, SPY compounded at +21.67% per year against -45.36% for SRTY; over five years the annualized figures are +13.32% and -33.25% respectively. Across the full 17-year window we track, SPY has the edge at +8.85% annualized vs -45.78%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SRTY has been the more volatile fund, with annualized monthly volatility of 53.6% 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 -100.0% for SRTY. 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 -0.85. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while SRTY 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 8.93% for SRTY.
Holdings Overlap
SPY and SRTY share 0 holdings out of 504 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 SRTY?
SPY has an expense ratio of 0.09% while SRTY 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 SRTY?
Over the past year SPY returned +22.91% vs -64.78% for SRTY, so SPY leads on 1-year performance. Over the longest common window we track (17 years), SPY annualized +8.85% vs -45.78% for SRTY. Past performance does not guarantee future results.
Which is riskier, SPY or SRTY?
SRTY has been the more volatile fund at 53.6% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs SRTY -100.0%.
Should I hold both SPY and SRTY?
SPY and SRTY have a monthly-return correlation of -0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and SRTY?
SPY and SRTY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, SPY or SRTY?
SPY yields 1.01% while SRTY yields 8.93%, so SRTY currently pays the higher dividend yield.
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