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Performance
Performance Chart
The chart shows the growth of an initial investment of £10,000 in IncomeShares S&P500 Options (0DTE) ETP GBP, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Different Benchmark Currency
SPYO.L is traded in GBp, while the ^GSPC benchmark is in USD. To make them comparable, the benchmark values have been converted to GBp using the latest available exchange rates.
Returns By Period
IncomeShares S&P500 Options (0DTE) ETP GBP (SPYO.L) has returned -9.00% so far this year and 4.90% over the past 12 months.
IncomeShares S&P500 Options (0DTE) ETP GBP
- 1D
- -0.66%
- 1M
- -5.48%
- YTD
- -9.00%
- 6M
- -4.95%
- 1Y
- 4.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.61%
- 1M
- -3.22%
- YTD
- -2.82%
- 6M
- -0.72%
- 1Y
- 13.66%
- 3Y*
- 14.01%
- 5Y*
- 11.18%
- 10Y*
- 12.98%
Monthly Returns
Based on dividend-adjusted daily data since Aug 28, 2024, SPYO.L's average daily return is 0.00%, while the average monthly return is +0.03%. At this rate, your investment would double in approximately 192.6 years.
Historically, 45% of months were positive and 55% were negative. The best month was Jul 2025 with a return of +11.4%, while the worst month was Mar 2025 at -7.1%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 4 months.
On a daily basis, SPYO.L closed higher 54% of trading days. The best single day was Jul 30, 2025 with a return of +4.0%, while the worst single day was Oct 1, 2024 at -5.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -1.66% | -2.09% | -5.48% | -9.00% | |||||||||
| 2025 | 3.11% | -2.10% | -7.07% | -5.46% | 5.30% | 1.75% | 11.40% | -5.05% | 3.01% | 5.09% | 0.14% | -0.76% | 8.13% |
| 2024 | 1.11% | -0.10% | -2.11% | 4.31% | -2.74% | 0.31% |
Benchmark Metrics
IncomeShares S&P500 Options (0DTE) ETP GBP has an annualized alpha of -4.36%, beta of 0.36, and R² of 0.19 versus S&P 500 Index. Calculated based on daily prices since August 29, 2024.
- This ETF participated in 141.66% of S&P 500 Index downside but only 70.49% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.36 may look defensive, but with R² of 0.19 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R² of 0.19 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -4.36%
- Beta
- 0.36
- R²
- 0.19
- Upside Capture
- 70.49%
- Downside Capture
- 141.66%
Expense Ratio
SPYO.L has an expense ratio of 0.45%, placing it in the medium range.
Return for Risk
Risk / Return Rank
SPYO.L ranks 19 for risk / return — in the bottom 19% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for IncomeShares S&P500 Options (0DTE) ETP GBP (SPYO.L) and compare them to a chosen benchmark (S&P 500 Index).
| SPYO.L | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.33 | 0.73 | -0.40 |
Sortino ratioReturn per unit of downside risk | 0.53 | 1.14 | -0.61 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.18 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 0.30 | 1.24 | -0.93 |
Martin ratioReturn relative to average drawdown | 0.76 | 4.87 | -4.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore SPYO.L risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
IncomeShares S&P500 Options (0DTE) ETP GBP provided a 72.19% dividend yield over the last twelve months, with an annual payout of £2.62 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | £2.62 | £3.46 | £0.20 |
Dividend yield | 72.19% | 84.42% | 2.75% |
Monthly Dividends
The table displays the monthly dividend distributions for IncomeShares S&P500 Options (0DTE) ETP GBP. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | £0.12 | £0.00 | £0.00 | £0.12 | |||||||||
| 2025 | £0.25 | £0.36 | £0.36 | £0.50 | £0.79 | £0.31 | £0.35 | £0.00 | £0.12 | £0.11 | £0.15 | £0.17 | £3.46 |
| 2024 | £0.20 | £0.00 | £0.20 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the IncomeShares S&P500 Options (0DTE) ETP GBP. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the IncomeShares S&P500 Options (0DTE) ETP GBP was 17.68%, occurring on Apr 22, 2025. Recovery took 69 trading sessions.
The current IncomeShares S&P500 Options (0DTE) ETP GBP drawdown is 10.20%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -17.68% | Feb 11, 2025 | 49 | Apr 22, 2025 | 69 | Jul 30, 2025 | 118 |
| -10.83% | Jan 12, 2026 | 55 | Mar 27, 2026 | — | — | — |
| -6.14% | Sep 3, 2024 | 21 | Oct 1, 2024 | 30 | Nov 12, 2024 | 51 |
| -5.37% | Aug 1, 2025 | 9 | Aug 13, 2025 | 50 | Oct 23, 2025 | 59 |
| -3.9% | Nov 27, 2024 | 17 | Dec 19, 2024 | 34 | Feb 10, 2025 | 51 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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