SPY vs USDU
State Street SPDR S&P 500 ETF Trust vs WisdomTree Bloomberg US Dollar Bullish Fund
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 | USDU | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.51% | |
| AUM | $789.1B | $464M | |
| Dividend Yield | 1.01% | 3.70% | |
| Holdings | 505 | 2 | |
| YTD Return | +13.39% | +2.36% | |
| 1Y Return | +22.52% | +4.28% | |
| 3Y Return (annualized) | +21.36% | +4.49% | |
| 5Y Return (annualized) | +13.19% | +5.14% | |
| Volatility (annualized) | 15.3% | 6.2% | |
| Max Drawdown | -56.5% | -14.5% | |
| Fund Family | State Street Investment Management | WisdomTree Investments | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Dec 18, 2013 |
SPY vs USDU Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and WisdomTree Bloomberg US Dollar Bullish Fund (USDU) is a ETF from WisdomTree Investments. Over the past year SPY returned +22.52% while USDU returned +4.28%. Year to date, SPY is up 13.39% versus a gain of 2.36% for USDU.
Over three years, SPY compounded at +21.36% per year against +4.49% for USDU; over five years the annualized figures are +13.19% and +5.14% respectively. Across the full 13-year window we track, SPY has the edge at +8.84% annualized vs +3.19%. 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 6.2% for USDU. 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 -14.5% for USDU. 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 -0.42. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while USDU charges 0.51%. On a $10,000 position that is $9 vs $51 annually, a gap of $42 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 3.70% for USDU.
Holdings Overlap
SPY and USDU share 0 holdings out of 504 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 USDU?
SPY has an expense ratio of 0.09% while USDU charges 0.51%. SPY is the cheaper option. On a $10,000 investment, that is $42 per year of difference.
Which performed better, SPY or USDU?
Over the past year SPY returned +22.52% vs +4.28% for USDU, so SPY leads on 1-year performance. Over the longest common window we track (13 years), SPY annualized +8.84% vs +3.19% for USDU. Past performance does not guarantee future results.
Which is riskier, SPY or USDU?
SPY has been the more volatile fund at 15.3% annualized versus 6.2% for USDU. Worst drawdown: SPY -56.5% vs USDU -14.5%.
Should I hold both SPY and USDU?
SPY and USDU have a monthly-return correlation of -0.42, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and USDU?
SPY and USDU share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, SPY or USDU?
SPY yields 1.01% while USDU yields 3.70%, so USDU currently pays the higher dividend yield.
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