Data as of Oct 28, 2026.
NVDY vs SPY: Differences, Returns & Fees
Over the year to Oct 28, 2026, NVDY returned +10.5% to SPY's +13.6%, and SPY charges 0.09% to NVDY's 1.09%.
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Net assets on Oct 27, 2026: $1.3bn for YieldMax NVDA Option Income Strategy ETF and $814.8bn for SPDR S&P 500 ETF Trust.
Pair scorecard
SPY costs 1.00 points a year less; their one-year returns differ by 3.1 points; SPY is far larger, $814.8bn against $1.3bn.
| Measure | NVDY | SPY |
|---|---|---|
| Return | ||
| Total return, 1 year | +10.5% | +13.6% |
| Price change, 1 year | fell 29.9% | rose 12.4% |
| Latest payout, annualized | 25.2% | |
| Benchmark | ||
| What it tracks | Benchmark: NVIDIA (NVDA) | S&P 500 Index |
| Cost and size | ||
| Expense ratio | 1.09% | 0.09% |
| Net assets, as of Oct 27, 2026 | $1.3bn | $814.8bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 38.1% | |
Holdings in common uses holdings dated Oct 27, 2026 and Oct 28, 2026. Method
Risk and return
May 19, 2023 to Oct 23, 2026 · 179 weekly returnsEach against its own benchmark: NVDY against NVDA, May 19, 2023 to Oct 23, 2026; SPY against VOO, Sep 17, 2010 to Oct 23, 2026.
NVDY returned more: +313.3% to +89.6%. SPY swung less: 14.0% to 33.3%. SPY fell less at its worst: −16.9% to −32.3%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | NVDY | SPY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +313.3% | +89.6% | NVDY | Price change plus distributions, reinvested. |
| Annualized | +51.0% | +20.4% | NVDY | Total return as a yearly rate. |
| Price return | −45.7% | +81.5% | SPY | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 33.3% | 14.0% | SPY | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 21.8% | 9.0% | SPY | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −32.3% | −16.9% | SPY | Deepest fall from a high to the low after it. |
| Upside capture | 50.3% | 99.8% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 92.4% | 100.0% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.70 | 1.00 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.89 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 1.27 | 1.07 | NVDY | Return above Treasury bills per unit of volatility. |
| Sortino | 1.94 | 1.67 | NVDY | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.606 | 0.133 | Return above Treasury bills per unit of beta. | |
| Calmar | 1.58 | 1.21 | NVDY | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | NVDA | VOO | The ETF each fund is measured against. | |
| Alpha | −0.4% a year | −0.1% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.06 | −0.51 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −12.4% to +11.7% | −0.3% to +0.1% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −1.07 | −0.15 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 17.5% | 0.4% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 179 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, NVDY and SPY hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026 and Oct 28, 2026.
half
0% in common
Only in one fund ↓
Side by side
NVDY and SPY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price.
NVDY and SPY do different jobs. What does each one do in a portfolio?
- What each follows. NVDY is measured against NVIDIA (NVDA) and SPY follows S&P 500 Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 28, 2026 and Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 NVDY returned +10.5% and SPY +13.6% with distributions reinvested, a gap of 3.1 points.
Data as of Oct 28, 2026.
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NVDY
Over the year to Oct 28, 2026, NVDY paid 37.1% of its starting value in cash distributions while its price fell 29.9%. With every distribution reinvested, the fund returned +10.5%. NVIDIA (NVDA) returned +7.4% over the same days, so a holder was ahead by 3.1 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 25.2%, paid weekly.
SPY
SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.
Questions people ask
- Are NVDY and SPY in the same category?
- NVDY is an option-income ETF and SPY is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, NVDY or SPY?
- In the year to Oct 28, 2026, with distributions reinvested, NVDY returned +10.5% and SPY +13.6%.
- Which is cheaper, NVDY or SPY?
- SPY is cheaper, by 1.00 percentage points a year. That is about $100 on $10,000 held for a year. Fees come from each fund's prospectus.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, NVDY against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/nvdy-vs-spy
ETFIQ. (Oct 28, 2026). NVDY against SPY. Retrieved from https://etfiq.com/compare/any/nvdy-vs-spy
[NVDY against SPY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/nvdy-vs-spy)
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