Data as of Oct 28, 2026.
SPY vs TSLY: Differences, Returns & Fees
Over the year to Oct 28, 2026, SPY returned +13.6% to TSLY's −7.7%, and SPY charges 0.09% to TSLY's 1.07%.
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Net assets on Oct 27, 2026: $814.8bn for SPDR S&P 500 ETF Trust and $685m for YieldMax TSLA Option Income Strategy ETF.
Pair scorecard
SPY costs 0.98 points a year less; their one-year returns differ by 21.3 points; SPY is far larger, $814.8bn against $685m.
| Measure | SPY | TSLY |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.6% | −7.7% |
| Price change, 1 year | rose 12.4% | fell 46.6% |
| Latest payout, annualized | 43.1% | |
| Return of capital, issuer estimate | 100% of the Oct 30, 2026 payment | |
| Against its benchmark | ||
| What it tracks | S&P 500 Index | Benchmark: Tesla (TSLA) |
| Against its benchmark, same days | ahead by 4.5 pts | |
| Cost and size | ||
| Expense ratio | 0.09% | 1.07% |
| Net assets, as of Oct 27, 2026 | $814.8bn | $685m |
| 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
Dec 2, 2022 to Oct 23, 2026 · 203 weekly returnsEach against its own benchmark: SPY against VOO, Sep 17, 2010 to Oct 23, 2026; TSLY against TSLA, Dec 2, 2022 to Oct 23, 2026.
SPY returned more: +96.7% to +30.2%. SPY swung less: 14.0% to 42.3%. SPY fell less at its worst: −16.9% to −42.6%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | SPY | TSLY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +96.7% | +30.2% | SPY | Price change plus distributions, reinvested. |
| Annualized | +18.9% | +7.0% | SPY | Total return as a yearly rate. |
| Price return | +86.8% | −90.1% | SPY | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 14.0% | 42.3% | SPY | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 9.2% | 30.5% | SPY | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −16.9% | −42.6% | SPY | Deepest fall from a high to the low after it. |
| Upside capture | 99.8% | 45.3% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 100.0% | 95.4% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.00 | 0.72 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 1.00 | 0.91 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.98 | 0.26 | SPY | Return above Treasury bills per unit of volatility. |
| Sortino | 1.50 | 0.37 | SPY | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.133 | 0.156 | Return above Treasury bills per unit of beta. | |
| Calmar | 1.12 | 0.16 | SPY | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | VOO | TSLA | The ETF each fund is measured against. | |
| Alpha | −0.1% a year | −8.4% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.51 | −1.30 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −0.3% to +0.1% | −21.2% to +4.4% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.15 | −0.79 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 0.4% | 20.2% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 203 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SPY and TSLY 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
SPY and TSLY 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.
SPY and TSLY do different jobs. What does each one do in a portfolio?
- What each follows. SPY follows S&P 500 Index and TSLY is measured against Tesla (TSLA).
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026 and Oct 28, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 SPY returned +13.6% and TSLY −7.7% with distributions reinvested, a gap of 21.3 points.
Data as of Oct 28, 2026.
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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%.
TSLY
Over the year to Oct 28, 2026, TSLY paid 39.0% of its starting value in cash distributions while its price fell 46.6%. With every distribution reinvested, the fund returned −7.7%. Tesla (TSLA) returned −12.2% over the same days, so a holder was ahead by 4.5 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 43.1%, paid weekly. YieldMax estimates that 100% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
Questions people ask
- Are SPY and TSLY in the same category?
- SPY is a stock ETF and TSLY is an option-income ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, SPY or TSLY?
- In the year to Oct 28, 2026, with distributions reinvested, SPY returned +13.6% and TSLY −7.7%.
- Which is cheaper, SPY or TSLY?
- SPY is cheaper, by 0.98 percentage points a year. That is about $98 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, SPY against TSLY, data as of Oct 28, 2026. https://etfiq.com/compare/any/spy-vs-tsly
ETFIQ. (Oct 28, 2026). SPY against TSLY. Retrieved from https://etfiq.com/compare/any/spy-vs-tsly
[SPY against TSLY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/spy-vs-tsly)
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