SPY vs XUSP
State Street SPDR S&P 500 ETF Trust vs Innovator Uncapped Accelerated US Equity ETF
Which is better, SPY or XUSP?
Large Cap Blend against Option Writing.
SPY has a lower expense ratio. XUSP led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.99.
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 | XUSP |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.79% |
| AUM | $804.7B | $52M |
| Dividend Yield | 0.98% | 0.00% |
| Holdings | 505 | 28 |
| YTD Return | +12.09% | +12.55%Best |
| 1Y Return | +16.29% | +16.39%Best |
| 3Y Return (annualized) | +21.20% | +23.81%Best |
| 5Y Return (annualized) | +13.37% | - |
| Volatility (annualized) | 14.2%Best | 17.8% |
| Max Drawdown | -18.8%Best | -22.6% |
| $10,000 over 4.1 years | $19,122 | $19,931Best |
| Fund Family | State Street Investment Management | Innovator ETFs Trust |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Option Writing |
| Inception | Jan 22, 1993 | Aug 10, 2022 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.1 years row, are measured over the window both funds cover: Aug 11, 2022 to Sep 18, 2026 (4.1 years).
SPY vs XUSP 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 4.1 years both funds cover.
SPY vs XUSP Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Innovator Uncapped Accelerated US Equity ETF (XUSP) is an ETF from Innovator ETFs Trust. Over the past year SPY returned +16.29% while XUSP returned +16.39%. Year to date, SPY is up 12.09% versus a gain of 12.55% for XUSP.
Over three years, SPY compounded at +21.20% per year against +23.81% for XUSP. Across the full 4-year window we track, XUSP has the edge at +18.32% annualized vs +17.13%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XUSP has been the more volatile fund, with annualized monthly volatility of 17.8% compared with 14.2% 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 -18.8% for SPY and -22.6% for XUSP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. 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 XUSP charges 0.79%. On a $10,000 position that is $9 vs $79 annually, a gap of $70 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.00% for XUSP.
You are not choosing between two funds in isolation.
Whichever of SPY and XUSP 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 XUSP?
SPY has an expense ratio of 0.09% while XUSP charges 0.79%. SPY is the cheaper option, by $70 a year on a $10,000 investment.
Which performed better, SPY or XUSP?
Over the past year SPY returned +16.29% vs +16.39% for XUSP, so XUSP leads on 1-year performance. Over the longest common window we track (4 years), SPY annualized +17.13% vs +18.32% for XUSP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or XUSP?
XUSP has been the more volatile fund at 17.8% annualized versus 14.2% for SPY. Worst drawdown: SPY -18.8% vs XUSP -22.6%.
Should I hold both SPY and XUSP?
SPY and XUSP have a monthly-return correlation of 0.99, 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.
Which pays a higher dividend, SPY or XUSP?
SPY yields 0.98% while XUSP yields 0.00%, so SPY currently pays the higher dividend yield.
Is XUSP better than SPY?
SPY has a lower expense ratio. XUSP led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.99. Which one suits a particular account depends on what it is for. This is information, not a recommendation.