SPY vs WGMI
State Street SPDR S&P 500 ETF Trust vs CoinShares Bitcoin Mining and Digital Power ETF
Which is better, SPY or WGMI?
Large Cap Blend against Multi Alternative.
SPY has a lower expense ratio. SPY led over the full window, WGMI over 1Y and 3Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 62.9%.
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 | WGMI |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.75% |
| AUM | $804.7B | $230M |
| Dividend Yield | 0.98% | 0.00% |
| Holdings | 505 | 28 |
| YTD Return | +12.47%Best | +11.91% |
| 1Y Return | +17.51% | +31.93%Best |
| 3Y Return (annualized) | +21.18% | +65.92%Best |
| 5Y Return (annualized) | +12.88% | - |
| Volatility (annualized) | 15.6%Best | 92.6% |
| Max Drawdown | -22.1%Best | -85.8% |
| $10,000 over 4.6 years | $18,036Best | $17,517 |
| Top 10 Weight | 38.0%Best | 62.9% |
| Fund Family | State Street Investment Management | Valkyrie Funds |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Multi Alternative |
| Inception | Jan 22, 1993 | Feb 7, 2022 |
Volatility and max drawdown, and the $10,000 over 4.6 years row, are measured over the window both funds cover: Feb 8, 2022 to Sep 11, 2026 (4.6 years).
SPY vs WGMI 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 4.6 years both funds cover.
SPY vs WGMI Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and CoinShares Bitcoin Mining and Digital Power ETF (WGMI) is an ETF from Valkyrie Funds. Over the past year SPY returned +17.51% while WGMI returned +31.93%. Year to date, SPY is up 12.47% versus a gain of 11.91% for WGMI.
Over three years, SPY compounded at +21.18% per year against +65.92% for WGMI.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
WGMI has been the more volatile fund, with annualized monthly volatility of 92.6% compared with 15.6% 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 -22.1% for SPY and -85.8% for WGMI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.66. They move together some of the time, and apart the rest.
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 0.98% against 0.00% for WGMI.
Holdings Overlap
7.8% of SPY's money is in holdings WGMI also owns. 3.4% of WGMI's money is in holdings SPY also owns.
SPY and WGMI share little of their money.
2 positions in common, counted across the 504 positions we hold weights for in SPY and 28 in WGMI, against full books of 505 and 28.
What only one of them owns
Our book lists 18 positions for WGMI that do not appear in our book for SPY (62.5% of the fund), and 492 for SPY that do not appear in WGMI (91.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of SPY and WGMI 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 WGMI?
SPY has an expense ratio of 0.09% while WGMI charges 0.75%. SPY is the cheaper option, by $66 a year on a $10,000 investment.
Which performed better, SPY or WGMI?
Over the past year SPY returned +17.51% vs +31.93% for WGMI, so WGMI leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or WGMI?
WGMI has been the more volatile fund at 92.6% annualized versus 15.6% for SPY. Worst drawdown: SPY -22.1% vs WGMI -85.8%.
Should I hold both SPY and WGMI?
SPY and WGMI have a monthly-return correlation of 0.66, 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 WGMI?
7.8% of SPY's money is in holdings WGMI also owns. 3.4% of WGMI's is in holdings SPY also owns. They hold 2 positions in common, counted across the 504 positions we hold weights for in SPY and 28 in WGMI.
Which pays a higher dividend, SPY or WGMI?
SPY yields 0.98% while WGMI yields 0.00%, so SPY currently pays the higher dividend yield.
Is WGMI better than SPY?
SPY has a lower expense ratio. SPY led over the full window, WGMI over 1Y and 3Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 62.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.