SPY vs UDOW
SPY vs UDOW
State Street SPDR S&P 500 ETF Trust vs ProShares UltraPro Dow30
Quick Verdict
SPY has a lower expense ratio. UDOW delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | UDOW | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.95% | |
| AUM | $789.1B | $827M | |
| Dividend Yield | 1.01% | 1.10% | |
| Holdings | 505 | 42 | |
| YTD Return | +13.28% | +32.34% | |
| 1Y Return | +23.94% | +68.15% | |
| 3Y Return (annualized) | +21.07% | +35.51% | |
| 5Y Return (annualized) | +13.27% | +16.45% | |
| Volatility (annualized) | 15.3% | 43.9% | |
| Max Drawdown | -56.5% | -80.3% | |
| Fund Family | State Street Investment Management | ProShares | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Feb 9, 2010 |
SPY vs UDOW Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and ProShares UltraPro Dow30 (UDOW) is a ETF from ProShares. Over the past year SPY returned +23.94% while UDOW returned +68.15%. Year to date, SPY is up 13.28% versus a gain of 32.34% for UDOW.
Over three years, SPY compounded at +21.07% per year against +35.51% for UDOW; over five years the annualized figures are +13.27% and +16.45% respectively. Across the full 17-year window we track, UDOW has the edge at +26.71% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UDOW has been the more volatile fund, with annualized monthly volatility of 43.9% 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 -80.3% for UDOW. 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 0.94. 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 UDOW 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 1.10% for UDOW.
Holdings Overlap
SPY and UDOW share 29 holdings out of 505 unique holdings combined, representing a 19.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPY | Weight in UDOW | Difference |
|---|---|---|---|
| AAPL | 7.09% | 1.80% | 5.29% |
| NVDA | 7.31% | 1.12% | 6.19% |
| MSFT | 4.43% | 2.22% | 2.21% |
| GS | Pro | Pro | Pro |
| CAT | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AMZN | Pro | Pro | Pro |
| JPM | Pro | Pro | Pro |
| UNH | Pro | Pro | Pro |
| V | Pro | Pro | Pro |
See all 10 holdings SPY shares with UDOW Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, SPY or UDOW?
SPY has an expense ratio of 0.09% while UDOW 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 UDOW?
Over the past year SPY returned +23.94% vs +68.15% for UDOW, so UDOW leads on 1-year performance. Over the longest common window we track (17 years), SPY annualized +8.84% vs +26.71% for UDOW. Past performance does not guarantee future results.
Which is riskier, SPY or UDOW?
UDOW has been the more volatile fund at 43.9% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs UDOW -80.3%.
Should I hold both SPY and UDOW?
SPY and UDOW have a monthly-return correlation of 0.94, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SPY and UDOW?
SPY and UDOW share 29 common holdings with a 19.6% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, SPY or UDOW?
SPY yields 1.01% while UDOW yields 1.10%, so UDOW currently pays the higher dividend yield.
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