Data as of Nov 4, 2026.
QBUL vs SPY: Differences, Returns & Fees
Over the year to Nov 4, 2026, QBUL returned +0.4% to SPY's +14.8%, and SPY charges 0.09% to QBUL's 0.79%.
askIQ about this page
askIQ about QBUL and SPY
Net assets: $28m on Jul 31, 2026 for TrueShares Quarterly Bull Hedge ETF, and $804.8bn on Nov 3, 2026 for SPDR S&P 500 ETF Trust.
Pair scorecard
SPY costs 0.70 points a year less; their one-year returns differ by 14.4 points.
| Measure | QBUL | SPY |
|---|---|---|
| Return | ||
| Total return, 1 year | +0.4% | +14.8% |
| Total return, 52 weeks | +0.3% | |
| Against its benchmark | ||
| What it tracks | not published | S&P 500 Index |
| Treasury bills, 52 weeks | +3.7% | |
| Against cash | 3.3 points behind | |
| Cost and size | ||
| Expense ratio | 0.79% | 0.09% |
| Net assets, QBUL as of Jul 31, 2026 and SPY as of Nov 3, 2026 | $28m | $804.8bn |
| Holdings | ||
| Holdings in common | not published | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 37.3% | |
| Risk | ||
| Correlation with the S&P 500’s weekly returns | +0.85 | |
| Beta to the S&P 500 | +0.20: about 0.20% for each 1% | |
| Its average week when the S&P 500 fell | fell 0.26% | |
| Down-week capture | 23.9% | |
| Weeks the S&P 500 fell | 26 of 52, by 1.07% on average | |
Side by side
QBUL and SPY on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.
QBUL
QBUL is a hedged equity fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.85 with the S&P 500’s and a beta of +0.20, so for each 1% the index moved it moved about 0.20% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks QBUL fell 0.26% on average, a down-week capture of 23.9%. Over the same 52 weeks QBUL returned +0.3% and a Treasury bill fund +3.7%, so it finished 3.3 percentage points behind cash.
SPY
SPY tracks the S&P 500. Over the year to Nov 4, 2026 it returned +14.8% with distributions reinvested, against +14.8% 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 Nov 3, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 37.3%.
Questions people ask
- Are QBUL and SPY in the same category?
- QBUL is an alternatives 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, QBUL or SPY?
- In the year to Nov 4, 2026, with distributions reinvested, QBUL returned +0.4% and SPY +14.8%.
- Which is cheaper, QBUL or SPY?
- SPY is cheaper, by 0.70 percentage points a year. That is about $70 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
Cite this pageCitation, APA and Markdown
ETFIQ, QBUL against SPY, data as of Nov 4, 2026. https://etfiq.com/compare/any/qbul-vs-spy
ETFIQ. (Nov 4, 2026). QBUL against SPY. Retrieved from https://etfiq.com/compare/any/qbul-vs-spy
[QBUL against SPY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/any/qbul-vs-spy)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.