SPY vs USOI
State Street SPDR S&P 500 ETF Trust vs ETRACS Crude Oil Shares Covered Call ETN
Which is better, SPY or USOI?
Large Cap Blend against Energy.
SPY has a lower expense ratio. SPY led over 3Y and the full window, USOI over 1Y and 5Y.
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 | USOI |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.85% |
| AUM | $823.2B | $245M |
| Dividend Yield | 0.99% | 48.53% |
| Holdings | 1,515 | - |
| YTD Return | +13.53% | +51.07%Best |
| 1Y Return | +17.47% | +53.83%Best |
| 3Y Return (annualized) | +22.36%Best | +11.97% |
| 5Y Return (annualized) | +13.21% | +13.56%Best |
| Volatility (annualized) | 15.7%Best | 30.4% |
| Max Drawdown | -34.1%Best | -87.2% |
| $10,000 over 5 years | $18,596 | $18,885Best |
| Fund Family | State Street Investment Management | UBS AG |
| Category | Equity | Commodity |
| Style | Large Cap Blend | Energy |
| Inception | Jan 22, 1993 | Apr 25, 2017 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Apr 26, 2017 to Oct 14, 2026 (9.5 years).
SPY vs USOI 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 9.5 years both funds cover.
SPY vs USOI Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and ETRACS Crude Oil Shares Covered Call ETN (USOI) is an ETF from UBS AG. Over the past year SPY returned +17.47% while USOI returned +53.83%. Year to date, SPY is up 13.53% versus a gain of 51.07% for USOI.
Over three years, SPY compounded at +22.36% per year against +11.97% for USOI; over five years the annualized figures are +13.21% and +13.56% respectively. Across the full 10-year window we track, SPY has the edge at +14.10% annualized vs -6.50%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
USOI has been the more volatile fund, with annualized monthly volatility of 30.4% compared with 15.7% 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 -34.1% for SPY and -87.2% for USOI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.34. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while USOI charges 0.85%. On a $10,000 position that is $9 vs $85 annually, a gap of $76 per year that compounds over a long holding period. On income, SPY currently yields 0.99% against 48.53% for USOI.
You are not choosing between two funds in isolation.
Whichever of SPY and USOI 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 USOI?
SPY has an expense ratio of 0.09% while USOI charges 0.85%. SPY is the cheaper option, by $76 a year on a $10,000 investment.
Which performed better, SPY or USOI?
Over the past year SPY returned +17.47% vs +53.83% for USOI, so USOI leads on 1-year performance. Over the longest common window we track (10 years), SPY annualized +14.10% vs -6.50% for USOI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or USOI?
USOI has been the more volatile fund at 30.4% annualized versus 15.7% for SPY. Worst drawdown: SPY -34.1% vs USOI -87.2%.
Should I hold both SPY and USOI?
SPY and USOI have a monthly-return correlation of 0.34, 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 USOI?
SPY yields 0.99% while USOI yields 48.53%, so USOI currently pays the higher dividend yield.
Is USOI better than SPY?
SPY has a lower expense ratio. SPY led over 3Y and the full window, USOI over 1Y and 5Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.