SPY vs URE
State Street SPDR S&P 500 ETF Trust vs ProShares Ultra Real Estate
Which is better, SPY or URE?
Large Cap Blend against Multi Alternative.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
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 | URE |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.95% |
| AUM | $804.7B | $55M |
| Dividend Yield | 0.98% | 2.09% |
| Holdings | 505 | 39 |
| YTD Return | +10.96%Best | +9.78% |
| 1Y Return | +15.52%Best | +2.72% |
| 3Y Return (annualized) | +20.73%Best | +8.35% |
| 5Y Return (annualized) | +12.53%Best | -6.95% |
| Volatility (annualized) | 15.5%Best | 42.0% |
| Max Drawdown | -56.5%Best | -97.3% |
| $10,000 over 5 years | $18,044Best | $6,976 |
| Fund Family | State Street Investment Management | ProShares |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Multi Alternative |
| Inception | Jan 22, 1993 | Jan 30, 2007 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Feb 1, 2007 to Sep 16, 2026 (19.6 years).
SPY vs URE 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 19.6 years both funds cover.
SPY vs URE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and ProShares Ultra Real Estate (URE) is an ETF from ProShares. Over the past year SPY returned +15.52% while URE returned +2.72%. Year to date, SPY is up 10.96% versus a gain of 9.78% for URE.
Over three years, SPY compounded at +20.73% per year against +8.35% for URE; over five years the annualized figures are +12.53% and -6.95% respectively. Across the full 20-year window we track, SPY has the edge at +9.19% annualized vs -4.71%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
URE has been the more volatile fund, with annualized monthly volatility of 42.0% compared with 15.5% 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 -97.3% for URE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while URE 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 0.98% against 2.09% for URE.
Holdings Overlap
At least 1.8% of SPY's money is in holdings URE also owns.
Stated as a floor: for URE, our book for it covers 83.7% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPY and URE share little of their money.
30 positions in common, counted across the 504 positions we hold weights for in SPY and 31 in URE, against full books of 505 and 39.
Top Shared Holdings
| Stock | Weight in SPY | Weight in URE | Difference |
|---|---|---|---|
| WELLWelltower, Inc. | 0.26% | 8.01% | 7.75% |
| PLDPrologis Inc | 0.20% | 6.36% | 6.16% |
| EQIXEquinix Inc. Real Estate Investment Trust | 0.15% | 4.96% | 4.81% |
| AMTAmerican Tower Corporation | 0.12% | 3.93% | 3.81% |
| DLRDigital Realty Trust Inc. | 0.10% | 3.45% | 3.35% |
| EQRVivmark Residential | 0.07% | 3.44% | 3.37% |
| SPGSimon Property Group Inc | 0.10% | 3.31% | 3.21% |
| PSAPublic Storage | 0.08% | 3.21% | 3.13% |
| VTRVentas Inc . | 0.07% | 3.21% | 3.14% |
| ORealty Income Corp. | 0.09% | 3.15% | 3.06% |
You are not choosing between two funds in isolation.
Whichever of SPY and URE 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 URE?
SPY has an expense ratio of 0.09% while URE charges 0.95%. SPY is the cheaper option, by $86 a year on a $10,000 investment.
Which performed better, SPY or URE?
Over the past year SPY returned +15.52% vs +2.72% for URE, so SPY leads on 1-year performance. Over the longest common window we track (20 years), SPY annualized +9.19% vs -4.71% for URE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or URE?
URE has been the more volatile fund at 42.0% annualized versus 15.5% for SPY. Worst drawdown: SPY -56.5% vs URE -97.3%.
Should I hold both SPY and URE?
SPY and URE have a monthly-return correlation of 0.77, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPY and URE?
At least 1.8% of SPY's money is in holdings URE also owns. Our book for URE is partial, so the real figure is this or higher. They hold 30 positions in common, counted across the 504 positions we hold weights for in SPY and 31 in URE.
Which pays a higher dividend, SPY or URE?
SPY yields 0.98% while URE yields 2.09%, so URE currently pays the higher dividend yield.
Is URE better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.