SPY vs UOCT
State Street SPDR S&P 500 ETF Trust vs Innovator US Equity Ultra Buffer ETF - October
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 | UOCT | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.79% | |
| AUM | $789.1B | $179M | |
| Dividend Yield | 1.01% | 0.00% | |
| Holdings | 505 | 6 | |
| YTD Return | +13.39% | +7.05% | |
| 1Y Return | +22.52% | +11.46% | |
| 3Y Return (annualized) | +21.36% | +11.59% | |
| 5Y Return (annualized) | +13.19% | +8.52% | |
| Volatility (annualized) | 15.3% | 6.7% | |
| Max Drawdown | -56.5% | -13.7% | |
| Fund Family | State Street Investment Management | Innovator ETFs Trust | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Sep 28, 2018 |
SPY vs UOCT Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Innovator US Equity Ultra Buffer ETF - October (UOCT) is a ETF from Innovator ETFs Trust. Over the past year SPY returned +22.52% while UOCT returned +11.46%. Year to date, SPY is up 13.39% versus a gain of 7.05% for UOCT.
Over three years, SPY compounded at +21.36% per year against +11.59% for UOCT; over five years the annualized figures are +13.19% and +8.52% respectively. Across the full 8-year window we track, SPY has the edge at +8.84% annualized vs +7.32%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 6.7% for UOCT. 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 -13.7% for UOCT. 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 0.92. 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 UOCT 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 1.01% against 0.00% for UOCT.
Frequently Asked Questions
Which is cheaper, SPY or UOCT?
SPY has an expense ratio of 0.09% while UOCT charges 0.79%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, SPY or UOCT?
Over the past year SPY returned +22.52% vs +11.46% for UOCT, so SPY leads on 1-year performance. Over the longest common window we track (8 years), SPY annualized +8.84% vs +7.32% for UOCT. Past performance does not guarantee future results.
Which is riskier, SPY or UOCT?
SPY has been the more volatile fund at 15.3% annualized versus 6.7% for UOCT. Worst drawdown: SPY -56.5% vs UOCT -13.7%.
Should I hold both SPY and UOCT?
SPY and UOCT have a monthly-return correlation of 0.92, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
Which pays a higher dividend, SPY or UOCT?
SPY yields 1.01% while UOCT yields 0.00%, so SPY currently pays the higher dividend yield.
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