SPY vs WEEL
State Street SPDR S&P 500 ETF Trust vs Peerless Option Income Wheel ETF
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 | WEEL | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.99% | |
| AUM | $789.1B | $39M | |
| Dividend Yield | 1.01% | 12.48% | |
| Holdings | 505 | 38 | |
| YTD Return | +13.39% | +8.88% | |
| 1Y Return | +22.52% | +17.66% | |
| 3Y Return (annualized) | +21.36% | - | |
| 5Y Return (annualized) | +13.19% | - | |
| Volatility (annualized) | 15.3% | 7.5% | |
| Max Drawdown | -56.5% | -17.4% | |
| Fund Family | State Street Investment Management | Peerless ETFs | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | May 16, 2024 |
SPY vs WEEL Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Peerless Option Income Wheel ETF (WEEL) is a ETF from Peerless ETFs. Over the past year SPY returned +22.52% while WEEL returned +17.66%. Year to date, SPY is up 13.39% versus a gain of 8.88% for WEEL.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 7.5% for WEEL. 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 -17.4% for WEEL. 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while WEEL charges 0.99%. On a $10,000 position that is $9 vs $99 annually, a gap of $90 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 12.48% for WEEL.
Holdings Overlap
SPY and WEEL share 0 holdings out of 513 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 WEEL?
SPY has an expense ratio of 0.09% while WEEL charges 0.99%. SPY is the cheaper option. On a $10,000 investment, that is $90 per year of difference.
Which performed better, SPY or WEEL?
Over the past year SPY returned +22.52% vs +17.66% for WEEL, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +8.84% vs +13.52% for WEEL. Past performance does not guarantee future results.
Which is riskier, SPY or WEEL?
SPY has been the more volatile fund at 15.3% annualized versus 7.5% for WEEL. Worst drawdown: SPY -56.5% vs WEEL -17.4%.
Should I hold both SPY and WEEL?
SPY and WEEL have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and WEEL?
SPY and WEEL share 0 common holdings with a 0.0% weight overlap. Combined, they hold 513 unique securities.
Which pays a higher dividend, SPY or WEEL?
SPY yields 1.01% while WEEL yields 12.48%, so WEEL currently pays the higher dividend yield.
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