SPY vs SSG
State Street SPDR S&P 500 ETF Trust vs ProShares UltraShort Semiconductors
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 | SSG | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.95% | |
| AUM | $789.1B | $54M | |
| Dividend Yield | 1.01% | 10.85% | |
| Holdings | 505 | 11 | |
| YTD Return | +14.47% | -61.30% | |
| 1Y Return | +21.96% | -71.73% | |
| 3Y Return (annualized) | +21.70% | -74.25% | |
| 5Y Return (annualized) | +13.30% | -66.62% | |
| Volatility (annualized) | 15.3% | 97.9% | |
| Max Drawdown | -56.5% | -100.0% | |
| Fund Family | State Street Investment Management | ProShares | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Jan 30, 2007 |
SPY vs SSG Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and ProShares UltraShort Semiconductors (SSG) is a ETF from ProShares. Over the past year SPY returned +21.96% while SSG returned -71.73%. Year to date, SPY is up 14.47% versus a loss of 61.30% for SSG.
Over three years, SPY compounded at +21.70% per year against -74.25% for SSG; over five years the annualized figures are +13.30% and -66.62% respectively. Across the full 20-year window we track, SPY has the edge at +8.87% annualized vs -46.03%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SSG has been the more volatile fund, with annualized monthly volatility of 97.9% 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 SSG. 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 -0.35. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while SSG 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 10.85% for SSG.
Holdings Overlap
SPY and SSG 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 SSG?
SPY has an expense ratio of 0.09% while SSG 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 SSG?
Over the past year SPY returned +21.96% vs -71.73% for SSG, so SPY leads on 1-year performance. Over the longest common window we track (20 years), SPY annualized +8.87% vs -46.03% for SSG. Past performance does not guarantee future results.
Which is riskier, SPY or SSG?
SSG has been the more volatile fund at 97.9% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs SSG -100.0%.
Should I hold both SPY and SSG?
SPY and SSG have a monthly-return correlation of -0.35, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and SSG?
SPY and SSG share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, SPY or SSG?
SPY yields 1.01% while SSG yields 10.85%, so SSG currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.