OGSP vs SPY
OGSP vs SPY
Obra High Grade Structured Products ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | OGSP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.64% | 0.09% | |
| AUM | $29M | $789.1B | |
| Dividend Yield | 6.32% | 1.01% | |
| Holdings | 106 | 505 | |
| YTD Return | +2.67% | +13.79% | |
| 1Y Return | +5.15% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 0.9% | 15.3% | |
| Max Drawdown | -0.8% | -56.5% | |
| Fund Family | Obra Fund Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 9, 2024 | Jan 22, 1993 |
OGSP vs SPY Performance
Obra High Grade Structured Products ETF (OGSP) is a ETF from Obra Fund Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year OGSP returned +5.15% while SPY returned +23.66%. Year to date, OGSP is up 2.67% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 0.9% for OGSP. 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 -0.8% for OGSP and -56.5% for SPY. 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 0.45. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
OGSP charges 0.64% per year while SPY charges 0.09%. On a $10,000 position that is $64 vs $9 annually, a gap of $55 per year that compounds over a long holding period. On income, OGSP currently yields 6.32% against 1.01% for SPY.
Holdings Overlap
OGSP and SPY share 0 holdings out of 507 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, OGSP or SPY?
OGSP has an expense ratio of 0.64% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $55 per year of difference.
Which performed better, OGSP or SPY?
Over the past year OGSP returned +5.15% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), OGSP annualized +5.76% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, OGSP or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 0.9% for OGSP. Worst drawdown: OGSP -0.8% vs SPY -56.5%.
Should I hold both OGSP and SPY?
OGSP and SPY have a monthly-return correlation of 0.45, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between OGSP and SPY?
OGSP and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, OGSP or SPY?
OGSP yields 6.32% while SPY yields 1.01%, so OGSP currently pays the higher dividend yield.
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