SPY vs ULTY
State Street SPDR S&P 500 ETF Trust vs YieldMax Ultra Option Income Strategy ETF
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 | ULTY | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 1.30% | |
| AUM | $821.1B | $760M | |
| Dividend Yield | 1.01% | 67.28% | |
| Holdings | 505 | 103 | |
| YTD Return | +13.47% | +6.72% | |
| 1Y Return | +20.57% | -6.35% | |
| 3Y Return (annualized) | +21.83% | - | |
| 5Y Return (annualized) | +12.88% | - | |
| Volatility (annualized) | 15.3% | 22.9% | |
| Max Drawdown | -56.5% | -26.9% | |
| Fund Family | State Street Investment Management | YieldMax ETF | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Feb 28, 2024 |
SPY vs ULTY Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and YieldMax Ultra Option Income Strategy ETF (ULTY) is a ETF from YieldMax ETF. Over the past year SPY returned +20.57% while ULTY returned -6.35%. Year to date, SPY is up 13.47% versus a gain of 6.72% for ULTY.
Risk: Volatility and Drawdowns
ULTY has been the more volatile fund, with annualized monthly volatility of 22.9% 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 -26.9% for ULTY. 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while ULTY charges 1.30%. On a $10,000 position that is $9 vs $130 annually, a gap of $121 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 67.28% for ULTY.
Holdings Overlap
SPY and ULTY share 14 holdings out of 516 unique holdings combined, representing a 11.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or ULTY?
SPY has an expense ratio of 0.09% while ULTY charges 1.30%. SPY is the cheaper option. On a $10,000 investment, that is $121 per year of difference.
Which performed better, SPY or ULTY?
Over the past year SPY returned +20.57% vs -6.35% for ULTY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), SPY annualized +8.83% vs +2.75% for ULTY. Past performance does not guarantee future results.
Which is riskier, SPY or ULTY?
ULTY has been the more volatile fund at 22.9% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs ULTY -26.9%.
Should I hold both SPY and ULTY?
SPY and ULTY have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and ULTY?
SPY and ULTY share 14 common holdings with a 11.7% weight overlap. Combined, they hold 516 unique securities.
Which pays a higher dividend, SPY or ULTY?
SPY yields 1.01% while ULTY yields 67.28%, so ULTY currently pays the higher dividend yield.
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