SPY vs UPLT

Quick Verdict

SPY has a lower expense ratio. SPY offers more diversification with 503 holdings.

Lower Fees: SPYHigher Returns: TiedMore Diversified: SPY

Side-by-Side Comparison

MetricSPYUPLTWinner
Expense Ratio0.09%0.95%
AUM$789.1B$2M
Dividend Yield1.01%0.30%
Holdings5054
YTD Return+13.39%-36.64%
1Y Return+22.52%-
3Y Return (annualized)+21.36%-
5Y Return (annualized)+13.19%-
Volatility (annualized)15.3%-
Max Drawdown-56.5%-50.0%
Fund FamilyState Street Investment ManagementProShares
CategoryEquityAlternative
InceptionJan 22, 1993Apr 20, 2026

SPY vs UPLT Performance

State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and ProShares Ultra Platinum K-1 Free ETF (UPLT) is a ETF from ProShares. Year to date, SPY is up 13.39% versus a loss of 36.64% for UPLT.

Risk: Volatility and Drawdowns

The deepest peak-to-trough decline in our data was -56.5% for SPY and -50.0% for UPLT. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.

Fees and Cost Over Time

SPY charges 0.09% per year while UPLT 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 0.30% for UPLT.

Frequently Asked Questions

Which is cheaper, SPY or UPLT?

SPY has an expense ratio of 0.09% while UPLT charges 0.95%. SPY is the cheaper option. On a $10,000 investment, that is $86 per year of difference.

Which pays a higher dividend, SPY or UPLT?

SPY yields 1.01% while UPLT yields 0.30%, so SPY currently pays the higher dividend yield.

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