SPY vs SURI
State Street SPDR S&P 500 ETF Trust vs Simplify Propel Opportunities ETF
Quick Verdict
SPY has a lower expense ratio. SURI delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | SURI | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 2.57% | |
| AUM | $789.1B | $77M | |
| Dividend Yield | 1.01% | 15.48% | |
| Holdings | 505 | 49 | |
| YTD Return | +13.68% | +20.77% | |
| 1Y Return | +21.53% | +44.92% | |
| 3Y Return (annualized) | +21.44% | +12.14% | |
| 5Y Return (annualized) | +13.18% | - | |
| Volatility (annualized) | 15.3% | 29.2% | |
| Max Drawdown | -56.5% | -47.8% | |
| Fund Family | State Street Investment Management | Simplify Exchange Traded Funds | |
| Category | Equity | Allocation/Balanced | |
| Inception | Jan 22, 1993 | Feb 7, 2023 |
SPY vs SURI Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Simplify Propel Opportunities ETF (SURI) is a ETF from Simplify Exchange Traded Funds. Over the past year SPY returned +21.53% while SURI returned +44.92%. Year to date, SPY is up 13.68% versus a gain of 20.77% for SURI.
Over three years, SPY compounded at +21.44% per year against +12.14% for SURI. Across the full 4-year window we track, SPY has the edge at +8.85% annualized vs +8.10%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SURI has been the more volatile fund, with annualized monthly volatility of 29.2% 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 -47.8% for SURI. 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 0.45. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while SURI charges 2.57%. On a $10,000 position that is $9 vs $257 annually, a gap of $248 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 15.48% for SURI.
Holdings Overlap
SPY and SURI share 0 holdings out of 529 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 SURI?
SPY has an expense ratio of 0.09% while SURI charges 2.57%. SPY is the cheaper option. On a $10,000 investment, that is $248 per year of difference.
Which performed better, SPY or SURI?
Over the past year SPY returned +21.53% vs +44.92% for SURI, so SURI leads on 1-year performance. Over the longest common window we track (4 years), SPY annualized +8.85% vs +8.10% for SURI. Past performance does not guarantee future results.
Which is riskier, SPY or SURI?
SURI has been the more volatile fund at 29.2% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs SURI -47.8%.
Should I hold both SPY and SURI?
SPY and SURI have a monthly-return correlation of 0.45, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and SURI?
SPY and SURI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 529 unique securities.
Which pays a higher dividend, SPY or SURI?
SPY yields 1.01% while SURI yields 15.48%, so SURI currently pays the higher dividend yield.
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