SPY vs UNHG
State Street SPDR S&P 500 ETF Trust vs Leverage Shares 2X Long UNH Daily ETF
Which is better, SPY or UNHG?
Large Cap Blend against Trading-Leveraged Equity.
SPY has a lower expense ratio. SPY led over 1Y, UNHG over the full window.
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 | UNHG |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.77% |
| AUM | $823.2B | $63M |
| Dividend Yield | 0.99% | 11.09% |
| Holdings | 1,515 | 12 |
| YTD Return | +13.53%Best | +13.34% |
| 1Y Return | +17.47%Best | -3.91% |
| 3Y Return (annualized) | +22.36% | - |
| 5Y Return (annualized) | +13.21% | - |
| Volatility (annualized) | 11.9%Best | 97.7% |
| Max Drawdown | -8.9%Best | -57.0% |
| $10,000 over 1.2 years | $12,341 | $14,167Best |
| Fund Family | State Street Investment Management | Leverage Shares |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Trading-Leveraged Equity |
| Inception | Jan 22, 1993 | Jul 22, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jul 22, 2025 to Oct 14, 2026 (1.2 years).
SPY vs UNHG 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 1.2 years both funds cover.
SPY vs UNHG Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Leverage Shares 2X Long UNH Daily ETF (UNHG) is an ETF from Leverage Shares. Over the past year SPY returned +17.47% while UNHG returned -3.91%. Year to date, SPY is up 13.53% versus a gain of 13.34% for UNHG.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UNHG has been the more volatile fund, with annualized monthly volatility of 97.7% compared with 11.9% 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 -8.9% for SPY and -57.0% for UNHG. 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 UNHG charges 0.77%. On a $10,000 position that is $9 vs $77 annually, a gap of $68 per year that compounds over a long holding period. On income, SPY currently yields 0.99% against 11.09% for UNHG.
You are not choosing between two funds in isolation.
Whichever of SPY and UNHG 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 UNHG?
SPY has an expense ratio of 0.09% while UNHG charges 0.77%. SPY is the cheaper option, by $68 a year on a $10,000 investment.
Which performed better, SPY or UNHG?
Over the past year SPY returned +17.47% vs -3.91% for UNHG, so SPY leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +19.16% vs +33.68% for UNHG. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or UNHG?
UNHG has been the more volatile fund at 97.7% annualized versus 11.9% for SPY. Worst drawdown: SPY -8.9% vs UNHG -57.0%.
Should I hold both SPY and UNHG?
SPY and UNHG 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.
Which pays a higher dividend, SPY or UNHG?
SPY yields 0.99% while UNHG yields 11.09%, so UNHG currently pays the higher dividend yield.
Is UNHG better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, UNHG over the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.