SPY vs YBTC
State Street SPDR S&P 500 ETF Trust vs Roundhill Bitcoin Covered Call Strategy ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | YBTC | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.95% | |
| AUM | $821.1B | $138M | |
| Dividend Yield | 1.01% | 81.65% | |
| Holdings | 505 | 6 | |
| YTD Return | +12.68% | -31.90% | |
| 1Y Return | +21.82% | -46.13% | |
| 3Y Return (annualized) | +21.98% | - | |
| 5Y Return (annualized) | +12.89% | - | |
| Volatility (annualized) | 15.3% | 36.3% | |
| Max Drawdown | -56.5% | -52.5% | |
| Fund Family | State Street Investment Management | Roundhill Investments | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Jan 18, 2024 |
SPY vs YBTC Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Roundhill Bitcoin Covered Call Strategy ETF (YBTC) is a ETF from Roundhill Investments. Over the past year SPY returned +21.82% while YBTC returned -46.13%. Year to date, SPY is up 12.68% versus a loss of 31.90% for YBTC.
Risk: Volatility and Drawdowns
YBTC has been the more volatile fund, with annualized monthly volatility of 36.3% 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 -52.5% for YBTC. 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 0.36. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while YBTC 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 1.01% against 81.65% for YBTC.
Frequently Asked Questions
Which is cheaper, SPY or YBTC?
SPY has an expense ratio of 0.09% while YBTC charges 0.95%. SPY is the cheaper option. On a $10,000 investment, that is $86 per year of difference.
Which performed better, SPY or YBTC?
Over the past year SPY returned +21.82% vs -46.13% for YBTC, so SPY leads on 1-year performance. Over the longest common window we track (3 years), SPY annualized +8.81% vs +2.93% for YBTC. Past performance does not guarantee future results.
Which is riskier, SPY or YBTC?
YBTC has been the more volatile fund at 36.3% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs YBTC -52.5%.
Should I hold both SPY and YBTC?
SPY and YBTC have a monthly-return correlation of 0.36, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, SPY or YBTC?
SPY yields 1.01% while YBTC yields 81.65%, so YBTC currently pays the higher dividend yield.
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