SPY vs UGE
State Street SPDR S&P 500 ETF Trust vs ProShares Ultra Consumer Staples
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | UGE | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.95% | |
| AUM | $821.1B | $10M | |
| Dividend Yield | 1.01% | 2.09% | |
| Holdings | 505 | 39 | |
| YTD Return | +13.21% | +17.29% | |
| 1Y Return | +19.87% | +10.31% | |
| 3Y Return (annualized) | +21.16% | +7.71% | |
| 5Y Return (annualized) | +12.74% | -2.70% | |
| Volatility (annualized) | 15.3% | 29.3% | |
| Max Drawdown | -56.5% | -72.2% | |
| Fund Family | State Street Investment Management | ProShares | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Jan 30, 2007 |
SPY vs UGE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and ProShares Ultra Consumer Staples (UGE) is a ETF from ProShares. Over the past year SPY returned +19.87% while UGE returned +10.31%. Year to date, SPY is up 13.21% versus a gain of 17.29% for UGE.
Over three years, SPY compounded at +21.16% per year against +7.71% for UGE; over five years the annualized figures are +12.74% and -2.70% respectively. Across the full 20-year window we track, UGE has the edge at +10.42% annualized vs +8.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UGE has been the more volatile fund, with annualized monthly volatility of 29.3% 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 -72.2% for UGE. 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while UGE 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 2.09% for UGE.
Holdings Overlap
SPY and UGE share 33 holdings out of 505 unique holdings combined, representing a 4.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or UGE?
SPY has an expense ratio of 0.09% while UGE 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 UGE?
Over the past year SPY returned +19.87% vs +10.31% for UGE, so SPY leads on 1-year performance. Over the longest common window we track (20 years), SPY annualized +8.82% vs +10.42% for UGE. Past performance does not guarantee future results.
Which is riskier, SPY or UGE?
UGE has been the more volatile fund at 29.3% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs UGE -72.2%.
Should I hold both SPY and UGE?
SPY and UGE have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and UGE?
SPY and UGE share 33 common holdings with a 4.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, SPY or UGE?
SPY yields 1.01% while UGE yields 2.09%, so UGE currently pays the higher dividend yield.
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