Data as of Oct 28, 2026.
SPIN vs SPY: Differences, Returns & Fees
Over the year to Oct 28, 2026, SPIN returned +8.6% to SPY's +13.6%, and SPY charges 0.09% to SPIN's 0.25%.
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Net assets on Oct 27, 2026: $46m for State Street US Equity Premium Income ETF and $814.8bn for SPDR S&P 500 ETF Trust.
Pair scorecard
SPY costs 0.16 points a year less; their one-year returns differ by 5.0 points; SPY is far larger, $814.8bn against $46m.
| Measure | SPIN | SPY |
|---|---|---|
| Return | ||
| Total return, 1 year | +8.6% | +13.6% |
| Price change, 1 year | rose 3.3% | rose 12.4% |
| Latest payout, annualized | 2.6% | |
| Return of capital, issuer estimate | 70% of the Oct 5, 2026 payment | |
| Benchmark | ||
| What it tracks | Benchmark: S&P 500, measured through SPY | S&P 500 Index |
| Cost and size | ||
| Expense ratio | 0.25% | 0.09% |
| Net assets, as of Oct 27, 2026 | $46m | $814.8bn |
| Holdings | ||
| Holdings in common | 58% | |
| 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. Method
Risk and return
Sep 13, 2024 to Oct 23, 2026 · 110 weekly returnsEach against its own benchmark: SPIN against SPY, Sep 13, 2024 to Oct 23, 2026; SPY against VOO, Sep 17, 2010 to Oct 23, 2026.
SPY returned more: +38.8% to +25.6%. SPIN swung less: 12.2% to 14.7%. SPIN fell slightly less at its worst: −15.3% to −16.9%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | SPIN | SPY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +25.6% | +38.8% | SPY | Price change plus distributions, reinvested. |
| Annualized | +11.4% | +16.7% | SPY | Total return as a yearly rate. |
| Price return | +7.9% | +35.2% | SPY | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 12.2% | 14.7% | SPIN | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 8.4% | 9.6% | SPIN | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −15.3% | −16.9% | SPIN (slight) | Deepest fall from a high to the low after it. |
| Upside capture | 70.8% | 99.8% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 87.5% | 100.0% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.78 | 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 | 0.61 | 0.85 | SPY | Return above Treasury bills per unit of volatility. |
| Sortino | 0.88 | 1.30 | SPY | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.095 | 0.133 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.74 | 0.99 | SPY | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | SPY | VOO | The ETF each fund is measured against. | |
| Alpha | −2.3% a year | −0.1% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.85 | −0.51 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −7.8% to +3.1% | −0.3% to +0.1% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.99 | −0.15 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 5.1% | 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, 110 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SPIN and SPY hold 58% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
58% in common
Only in one fund ↓
Side by side
SPIN 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.
SPIN and SPY do different jobs. What does each one do in a portfolio?
- What each follows. SPIN is measured against S&P 500 through SPY and SPY follows S&P 500 Index.
- One-year total return. Over 1 year to Oct 28, 2026 SPIN returned +8.6% and SPY +13.6% with distributions reinvested, a gap of 5.0 points.
- Cost. SPIN charges 0.25% of assets a year and SPY 0.09%, a gap of 0.16 points.
Data as of Oct 28, 2026.
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SPIN
Over the year to Oct 28, 2026, SPIN paid 4.9% of its starting value in cash distributions while its price rose 3.3%. With every distribution reinvested, the fund returned +8.6%. S&P 500 (SPY) returned +13.6% over the same days, so a holder was behind by 5.0 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 2.6%, paid monthly. State Street estimates that 70% of the distribution paid Oct 5, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
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 SPIN and SPY in the same category?
- SPIN 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, SPIN or SPY?
- In the year to Oct 28, 2026, with distributions reinvested, SPIN returned +8.6% and SPY +13.6%.
- Which is cheaper, SPIN or SPY?
- SPY is cheaper, by 0.16 percentage points a year. That is about $16 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.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, SPIN against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/spin-vs-spy
ETFIQ. (Oct 28, 2026). SPIN against SPY. Retrieved from https://etfiq.com/compare/any/spin-vs-spy
[SPIN against SPY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/spin-vs-spy)
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