SPY vs URSP
SPY vs URSP
State Street SPDR S&P 500 ETF Trust vs ProShares Ultra S&P 500 Equal Weight
Quick Verdict
SPY has a lower expense ratio. URSP delivered stronger 1-year returns.
Side-by-Side Comparison
| Metric | SPY | URSP | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.95% | |
| AUM | $789.1B | $38M | |
| Dividend Yield | 1.01% | 0.93% | |
| Holdings | 505 | 507 | |
| YTD Return | +9.93% | +21.26% | |
| 1Y Return | +19.50% | +24.69% | |
| 3Y Return (annualized) | +19.33% | - | |
| 5Y Return (annualized) | +12.82% | - | |
| Volatility (annualized) | 15.3% | - | |
| Max Drawdown | -56.5% | -15.7% | |
| Fund Family | State Street Investment Management | ProShares | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Aug 25, 2025 |
SPY vs URSP Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and ProShares Ultra S&P 500 Equal Weight (URSP) is a ETF from ProShares. Over the past year SPY returned +19.50% while URSP returned +24.69%. Year to date, SPY is up 9.93% versus a gain of 21.26% for URSP.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -56.5% for SPY and -15.7% for URSP. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
SPY charges 0.09% per year while URSP 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 0.93% for URSP.
Holdings Overlap
SPY and URSP share 492 holdings out of 514 unique holdings combined, representing a 24.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPY | Weight in URSP | Difference |
|---|---|---|---|
| NVDA | 7.31% | 0.06% | 7.25% |
| AAPL | 7.09% | 0.07% | 7.02% |
| MSFT | 4.43% | 0.06% | 4.37% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
See all 10 holdings SPY shares with URSP 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 URSP?
SPY has an expense ratio of 0.09% while URSP 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 URSP?
Over the past year SPY returned +19.50% vs +24.69% for URSP, so URSP leads on 1-year performance. Past performance does not guarantee future results.
What is the holdings overlap between SPY and URSP?
SPY and URSP share 492 common holdings with a 24.1% weight overlap. Combined, they hold 514 unique securities.
Which pays a higher dividend, SPY or URSP?
SPY yields 1.01% while URSP yields 0.93%, so SPY currently pays the higher dividend yield.
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