SPY vs UBRL
State Street SPDR S&P 500 ETF Trust vs GraniteShares 2x Long UBER Daily ETF
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 | UBRL | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 1.15% | |
| AUM | $789.1B | $20M | |
| Dividend Yield | 1.01% | 14.80% | |
| Holdings | 505 | 2 | |
| YTD Return | +13.68% | -27.56% | |
| 1Y Return | +21.53% | -44.87% | |
| 3Y Return (annualized) | +21.44% | - | |
| 5Y Return (annualized) | +13.18% | - | |
| Volatility (annualized) | 15.3% | 50.8% | |
| Max Drawdown | -56.5% | -62.8% | |
| Fund Family | State Street Investment Management | GraniteShares | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Sep 3, 2024 |
SPY vs UBRL Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and GraniteShares 2x Long UBER Daily ETF (UBRL) is a ETF from GraniteShares. Over the past year SPY returned +21.53% while UBRL returned -44.87%. Year to date, SPY is up 13.68% versus a loss of 27.56% for UBRL.
Risk: Volatility and Drawdowns
UBRL has been the more volatile fund, with annualized monthly volatility of 50.8% 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 -62.8% for UBRL. 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 UBRL charges 1.15%. On a $10,000 position that is $9 vs $115 annually, a gap of $106 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 14.80% for UBRL.
Holdings Overlap
SPY and UBRL share 1 holdings out of 503 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPY | Weight in UBRL | Difference |
|---|---|---|---|
| UBER | 0.23% | 66.66% | 66.43% |
Frequently Asked Questions
Which is cheaper, SPY or UBRL?
SPY has an expense ratio of 0.09% while UBRL charges 1.15%. SPY is the cheaper option. On a $10,000 investment, that is $106 per year of difference.
Which performed better, SPY or UBRL?
Over the past year SPY returned +21.53% vs -44.87% for UBRL, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +8.85% vs -16.48% for UBRL. Past performance does not guarantee future results.
Which is riskier, SPY or UBRL?
UBRL has been the more volatile fund at 50.8% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs UBRL -62.8%.
Should I hold both SPY and UBRL?
SPY and UBRL 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 UBRL?
SPY and UBRL share 1 common holdings with a 0.2% weight overlap. Combined, they hold 503 unique securities.
Which pays a higher dividend, SPY or UBRL?
SPY yields 1.01% while UBRL yields 14.80%, so UBRL currently pays the higher dividend yield.
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