SPY vs WGMI
State Street SPDR S&P 500 ETF Trust vs CoinShares Bitcoin Mining ETF
Quick Verdict
SPY has a lower expense ratio. WGMI delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | WGMI | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.75% | |
| AUM | $821.1B | $234M | |
| Dividend Yield | 1.01% | 0.00% | |
| Holdings | 505 | 26 | |
| YTD Return | +12.68% | +8.75% | |
| 1Y Return | +21.82% | +70.13% | |
| 3Y Return (annualized) | +21.98% | +61.29% | |
| 5Y Return (annualized) | +12.89% | - | |
| Volatility (annualized) | 15.3% | 93.2% | |
| Max Drawdown | -56.5% | -85.8% | |
| Fund Family | State Street Investment Management | Valkyrie Funds | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Feb 7, 2022 |
SPY vs WGMI Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and CoinShares Bitcoin Mining ETF (WGMI) is a ETF from Valkyrie Funds. Over the past year SPY returned +21.82% while WGMI returned +70.13%. Year to date, SPY is up 12.68% versus a gain of 8.75% for WGMI.
Over three years, SPY compounded at +21.98% per year against +61.29% for WGMI. Across the full 5-year window we track, WGMI has the edge at +12.42% annualized vs +8.81%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
WGMI has been the more volatile fund, with annualized monthly volatility of 93.2% compared with 15.3% 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 -85.8% for WGMI. 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while WGMI charges 0.75%. On a $10,000 position that is $9 vs $75 annually, a gap of $66 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.00% for WGMI.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, SPY or WGMI?
SPY has an expense ratio of 0.09% while WGMI charges 0.75%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, SPY or WGMI?
Over the past year SPY returned +21.82% vs +70.13% for WGMI, so WGMI leads on 1-year performance. Over the longest common window we track (5 years), SPY annualized +8.81% vs +12.42% for WGMI. Past performance does not guarantee future results.
Which is riskier, SPY or WGMI?
WGMI has been the more volatile fund at 93.2% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs WGMI -85.8%.
Should I hold both SPY and WGMI?
SPY and WGMI have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and WGMI?
SPY and WGMI share 2 common holdings with a 2.6% weight overlap. Combined, they hold 529 unique securities.
Which pays a higher dividend, SPY or WGMI?
SPY yields 1.01% while WGMI yields 0.00%, so SPY currently pays the higher dividend yield.
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