SPY vs UMMA
State Street SPDR S&P 500 ETF Trust vs Wahed Dow Jones Islamic World ETF
Quick Verdict
SPY has a lower expense ratio. UMMA delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | UMMA | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.65% | |
| AUM | $821.1B | $303M | |
| Dividend Yield | 1.01% | 0.98% | |
| Holdings | 505 | 95 | |
| YTD Return | +12.22% | +24.66% | |
| 1Y Return | +20.83% | +44.14% | |
| 3Y Return (annualized) | +21.70% | +22.92% | |
| 5Y Return (annualized) | +12.98% | - | |
| Volatility (annualized) | 15.3% | 20.8% | |
| Max Drawdown | -56.5% | -34.2% | |
| Fund Family | State Street Investment Management | Wahed Invest | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jan 6, 2022 |
SPY vs UMMA Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Wahed Dow Jones Islamic World ETF (UMMA) is a ETF from Wahed Invest. Over the past year SPY returned +20.83% while UMMA returned +44.14%. Year to date, SPY is up 12.22% versus a gain of 24.66% for UMMA.
Over three years, SPY compounded at +21.70% per year against +22.92% for UMMA. Across the full 5-year window we track, UMMA has the edge at +10.31% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UMMA has been the more volatile fund, with annualized monthly volatility of 20.8% 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 -34.2% for UMMA. 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while UMMA charges 0.65%. On a $10,000 position that is $9 vs $65 annually, a gap of $56 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.98% for UMMA.
Holdings Overlap
SPY and UMMA share 0 holdings out of 594 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 UMMA?
SPY has an expense ratio of 0.09% while UMMA charges 0.65%. SPY is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, SPY or UMMA?
Over the past year SPY returned +20.83% vs +44.14% for UMMA, so UMMA leads on 1-year performance. Over the longest common window we track (5 years), SPY annualized +8.79% vs +10.31% for UMMA. Past performance does not guarantee future results.
Which is riskier, SPY or UMMA?
UMMA has been the more volatile fund at 20.8% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs UMMA -34.2%.
Should I hold both SPY and UMMA?
SPY and UMMA have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and UMMA?
SPY and UMMA share 0 common holdings with a 0.0% weight overlap. Combined, they hold 594 unique securities.
Which pays a higher dividend, SPY or UMMA?
SPY yields 1.01% while UMMA yields 0.98%, so SPY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.