SPY vs UXI
State Street SPDR S&P 500 ETF Trust vs ProShares Ultra Industrials
Which is better, SPY or UXI?
Large Cap Blend against Multi Alternative.
SPY has a lower expense ratio. SPY led over 5Y, UXI over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.92.
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 | UXI |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.95% |
| AUM | $804.7B | $28M |
| Dividend Yield | 0.98% | 0.54% |
| Holdings | 505 | 87 |
| YTD Return | +11.52%Best | +10.67% |
| 1Y Return | +17.48% | +19.25%Best |
| 3Y Return (annualized) | +20.62% | +29.04%Best |
| 5Y Return (annualized) | +12.73%Best | +10.36% |
| Volatility (annualized) | 15.5%Best | 38.8% |
| Max Drawdown | -56.5%Best | -89.7% |
| $10,000 over 5 years | $18,205Best | $16,370 |
| 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 10, 2026 (19.6 years).
SPY vs UXI 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 UXI Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and ProShares Ultra Industrials (UXI) is an ETF from ProShares. Over the past year SPY returned +17.48% while UXI returned +19.25%. Year to date, SPY is up 11.52% versus a gain of 10.67% for UXI.
Over three years, SPY compounded at +20.62% per year against +29.04% for UXI; over five years the annualized figures are +12.73% and +10.36% respectively. Across the full 20-year window we track, UXI has the edge at +11.77% annualized vs +9.23%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UXI has been the more volatile fund, with annualized monthly volatility of 38.8% 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 -89.7% for UXI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 UXI 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 0.54% for UXI.
Holdings Overlap
At least 8.6% of SPY's money is in holdings UXI also owns.
Stated as a floor: for UXI, our book for it covers 61.8% 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 UXI share little of their money.
80 positions in common, counted across the 504 positions we hold weights for in SPY and 83 in UXI, against full books of 505 and 87.
Top Shared Holdings
| Stock | Weight in SPY | Weight in UXI | Difference |
|---|---|---|---|
| CATCaterpillar, Inc. | 0.61% | 4.23% | 3.62% |
| GEGeneral Electric Co. | 0.59% | 4.20% | 3.61% |
| RTXRaytheon Technologies Corp | 0.44% | 3.16% | 2.72% |
| GEVGE Vernova, LLC | 0.41% | 2.89% | 2.48% |
| BABoeing Co | 0.28% | 2.00% | 1.72% |
| UNPUnion Pacific Corp | 0.26% | 1.85% | 1.59% |
| ETNEaton Corp. Plc | 0.26% | 1.83% | 1.57% |
| DEDeere & Co. | 0.23% | 1.62% | 1.39% |
| UBERUber Technologies Inc | 0.22% | 1.46% | 1.24% |
| PHParker-Hannifin Corp. | 0.19% | 1.33% | 1.14% |
You are not choosing between two funds in isolation.
Whichever of SPY and UXI 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 UXI?
SPY has an expense ratio of 0.09% while UXI charges 0.95%. SPY is the cheaper option, by $86 a year on a $10,000 investment.
Which performed better, SPY or UXI?
Over the past year SPY returned +17.48% vs +19.25% for UXI, so UXI leads on 1-year performance. Over the longest common window we track (20 years), SPY annualized +9.23% vs +11.77% for UXI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or UXI?
UXI has been the more volatile fund at 38.8% annualized versus 15.5% for SPY. Worst drawdown: SPY -56.5% vs UXI -89.7%.
Should I hold both SPY and UXI?
SPY and UXI have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SPY and UXI?
At least 8.6% of SPY's money is in holdings UXI also owns. Our book for UXI is partial, so the real figure is this or higher. They hold 80 positions in common, counted across the 504 positions we hold weights for in SPY and 83 in UXI.
Which pays a higher dividend, SPY or UXI?
SPY yields 0.98% while UXI yields 0.54%, so SPY currently pays the higher dividend yield.
Is UXI better than SPY?
SPY has a lower expense ratio. SPY led over 5Y, UXI over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.92. Which one suits a particular account depends on what it is for. This is information, not a recommendation.