State Street SPDR S&P 500 ETF (SPY) belongs to the S&P 500 category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with SPY. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to SPY
SPY charges 0.09% annually. There are 15 ETFs in the S&P 500 category with lower expense ratios, going as low as 0.02%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| State Street SPDR Portfolio S&P 500 ETF | 0.02% | 148.87B | Nov 2005 | SPY vs SPYM | |
| iShares Core S&P 500 ETF | 0.03% | 837.93B | May 2000 | SPY vs IVV | |
| Vanguard S&P 500 ETF | 0.03% | 1.70T | Sep 2010 | SPY vs VOO | |
| SPDR Portfolio S&P 500 Value ETF | 0.04% | 35.07B | Sep 2000 | SPY vs SPYV | |
| State Street SPDR Portfolio S&P 500 Growth ETF | 0.04% | 52.13B | Sep 2000 | SPY vs SPYG |
Best Risk-Adjusted Alternatives to SPY
SPY has a PortfoliosLab risk / return rank of 60. There are 48 ETFs in the S&P 500 category with higher risk-adjusted ranks, going as high as 98.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 19.60M | Apr 2025 | SPY vs CPSP | |
| PGIM S&P 500 Max Buffer ETF - May | 97 | — | Apr 2025 | SPY vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | 96 | 56.30M | May 2024 | SPY vs CPSM | |
| PGIM S&P 500 Max Buffer ETF - February | 95 | — | Jan 2025 | SPY vs PMFB | |
| Calamos S&P 500 Structured Alt Protection ETF - Se... | 94 | 32.00M | Sep 2024 | SPY vs CPST |
Top Performing SPY Alternatives (YTD)
SPY is at 8.10% YTD. There are 46 ETFs in the S&P 500 category with higher YTD returns, going as high as 85.77%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Direxion Daily S&P 500 High Beta Bull 3X Shares | 85.77% | 98.97M | Nov 2019 | SPY vs HIBL | |
| Invesco S&P 500 Equal Weight Technology ETF | 37.10% | 6.46B | Jan 2006 | SPY vs RSPT | |
| Invesco S&P 500 Pure Growth ETF | 30.55% | 2.27B | Mar 2006 | SPY vs RPG | |
| Invesco S&P 500® High Beta ETF | 29.51% | 1.08B | May 2011 | SPY vs SPHB | |
| Invesco S&P 500 Momentum ETF | 29.45% | 21.99B | Oct 2015 | SPY vs SPMO |
Lowest Volatility Alternatives to SPY
SPY has 12.47% 1-year volatility. There are 64 ETFs in the S&P 500 category with lower 1-year volatility, going as low as 1.29%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - May | 1.29% | — | Apr 2025 | SPY vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.35% | 19.60M | Apr 2025 | SPY vs CPSP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | 1.65% | 56.30M | May 2024 | SPY vs CPSM | |
| Calamos S&P 500 Structured Alt Protection ETF - Ju... | 1.89% | 22.10M | Jun 2025 | SPY vs CPSU | |
| PGIM S&P 500 Max Buffer ETF - June | 1.92% | — | May 2025 | SPY vs PMJN |
Lowest Drawdown Alternatives to SPY
SPY has a 1-year max drawdown of -8.88%. There are 53 ETFs in the S&P 500 category with shallower 1-year drawdowns, going as shallow as -0.37%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 19.60M | Apr 2025 | SPY vs CPSP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.30M | May 2024 | SPY vs CPSM | |
| PGIM S&P 500 Max Buffer ETF - May | -0.60% | — | Apr 2025 | SPY vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ju... | -1.03% | 22.10M | Jun 2025 | SPY vs CPSU | |
| PGIM S&P 500 Max Buffer ETF - June | -1.15% | — | May 2025 | SPY vs PMJN |
Other ETFs from State Street
The 10 most viewed State Street ETFs shown here include GLD, XLK, SPYD and span 12 categories. AUM among these funds goes as high as $139B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| SPDR Gold Shares | Gold, Precious Metals | 21 | -7.67% | 138.96B | Nov 2004 | SPY vs GLD | |
| State Street Technology Select Sector SPDR ETF | Technology Equities | 66 | 27.45% | 130.33B | Dec 1998 | SPY vs XLK | |
| State Street SPDR Portfolio S&P 500 High Dividend ... | S&P 500, Dividend | 50 | 12.86% | 7.30B | Oct 2015 | SPY vs SPYD | |
| State Street Energy Select Sector SPDR ETF | Energy Equities | 44 | 21.47% | 36.84B | Dec 1998 | SPY vs XLE | |
| SPDR Gold MiniShares Trust | Gold, Precious Metals | 21 | -7.59% | 28.75B | Jun 2018 | SPY vs GLDM | |
| State Street Utilities Select Sector SPDR ETF | Utilities Equities | 29 | 8.11% | 22.62B | Dec 1998 | SPY vs XLU | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | Government Bonds, Ultrashort Bond | 100 | 1.69% | 46.54B | May 2007 | SPY vs BIL | |
| State Street Financial Select Sector SPDR ETF | Financials Equities | 14 | -1.07% | 51.89B | Dec 1998 | SPY vs XLF | |
| State Street Health Care Select Sector SPDR ETF | Health & Biotech Equities | 33 | -0.09% | 38.47B | Dec 1998 | SPY vs XLV | |
| State Street SPDR Dow Jones Industrial Average ETF... | Large Cap Blend Equities | 57 | 8.70% | 45.15B | Jan 1998 | SPY vs DIA |
Often Compared With SPY
Investors most often compare SPY with QQQ, BRK-B, RSP. These 20 comparison targets span 13 categories, based on PortfoliosLab usage data.
Compare SPY with Any Fund or Stock
Compare SPY with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair SPY with funds that move differently
State Street SPDR S&P 500 ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SPY.
Explore SPY Diversifiers