SPY vs UMAR
State Street SPDR S&P 500 ETF Trust vs Innovator US Equity Ultra Buffer ETF - March
Which is better, SPY or UMAR?
Large Cap Blend against Option Writing.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SPY | UMAR |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.79% |
| AUM | $804.7B | $144M |
| Dividend Yield | 0.98% | 0.00% |
| Holdings | 505 | 16 |
| YTD Return | +12.22%Best | +7.79% |
| 1Y Return | +16.97%Best | +10.89% |
| 3Y Return (annualized) | +21.16%Best | +12.43% |
| 5Y Return (annualized) | +13.00%Best | +8.00% |
| Volatility (annualized) | 15.8% | 6.0%Best |
| Max Drawdown | -28.7% | -11.1%Best |
| $10,000 over 5 years | $18,424Best | $14,693 |
| Fund Family | State Street Investment Management | Innovator ETFs Trust |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Option Writing |
| Inception | Jan 22, 1993 | Feb 28, 2020 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Mar 2, 2020 to Sep 17, 2026 (6.5 years).
SPY vs UMAR growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 6.5 years both funds cover.
SPY vs UMAR Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Innovator US Equity Ultra Buffer ETF - March (UMAR) is an ETF from Innovator ETFs Trust. Over the past year SPY returned +16.97% while UMAR returned +10.89%. Year to date, SPY is up 12.22% versus a gain of 7.79% for UMAR.
Over three years, SPY compounded at +21.16% per year against +12.43% for UMAR; over five years the annualized figures are +13.00% and +8.00% respectively. Across the full 7-year window we track, SPY has the edge at +16.11% annualized vs +7.77%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.8% compared with 6.0% for UMAR. 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 -28.7% for SPY and -11.1% for UMAR. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPY charges 0.09% per year while UMAR charges 0.79%. On a $10,000 position that is $9 vs $79 annually, a gap of $70 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.00% for UMAR.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 1 in UMAR, totalling 99.9% and 103.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 504 positions we hold weights for in SPY and 1 in UMAR, against full books of 505 and 16.
You are not choosing between two funds in isolation.
Whichever of SPY and UMAR you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or UMAR?
SPY has an expense ratio of 0.09% while UMAR charges 0.79%. SPY is the cheaper option, by $70 a year on a $10,000 investment.
Which performed better, SPY or UMAR?
Over the past year SPY returned +16.97% vs +10.89% for UMAR, so SPY leads on 1-year performance. Over the longest common window we track (7 years), SPY annualized +16.11% vs +7.77% for UMAR. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or UMAR?
SPY has been the more volatile fund at 15.8% annualized versus 6.0% for UMAR. Worst drawdown: SPY -28.7% vs UMAR -11.1%.
Should I hold both SPY and UMAR?
SPY and UMAR have a monthly-return correlation of 0.91, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, SPY or UMAR?
SPY yields 0.98% while UMAR yields 0.00%, so SPY currently pays the higher dividend yield.
Is UMAR better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. Which one suits a particular account depends on what it is for. This is information, not a recommendation.