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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, 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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Returns By Period
IncomeShares S&P500 Options (0DTE) ETP (SPYY.L) has returned -10.77% so far this year and 7.12% over the past 12 months.
IncomeShares S&P500 Options (0DTE) ETP
- 1D
- -0.85%
- 1M
- -7.50%
- YTD
- -10.77%
- 6M
- -6.81%
- 1Y
- 7.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Aug 28, 2024, SPYY.L's average daily return is 0.00%, while the average monthly return is +0.01%. At this rate, your investment would double in approximately 577.7 years.
Historically, 60% of months were positive and 40% were negative. The best month was Jul 2025 with a return of +7.5%, while the worst month was Mar 2026 at -7.5%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 3 months.
On a daily basis, SPYY.L closed higher 57% of trading days. The best single day was Apr 8, 2025 with a return of +4.1%, while the worst single day was Oct 1, 2024 at -6.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.43% | -3.95% | -7.50% | -10.77% | |||||||||
| 2025 | 2.14% | -0.87% | -4.56% | -2.43% | 6.03% | 3.85% | 7.45% | -2.61% | 2.24% | 2.40% | 1.06% | 0.93% | 16.00% |
| 2024 | 0.65% | 1.89% | -5.99% | 2.97% | -4.00% | -4.69% |
Benchmark Metrics
IncomeShares S&P500 Options (0DTE) ETP has an annualized alpha of -4.36%, beta of 0.34, and R² of 0.16 versus S&P 500 Index. Calculated based on daily prices since August 29, 2024.
- This ETF participated in 146.05% of S&P 500 Index downside but only 67.10% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.34 may look defensive, but with R² of 0.16 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 0.16 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
- 0.34
- R²
- 0.16
- Upside Capture
- 67.10%
- Downside Capture
- 146.05%
Expense Ratio
SPYY.L has an expense ratio of 0.45%, placing it in the medium range.
Return for Risk
Risk / Return Rank
SPYY.L ranks 24 for risk / return — below 24% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for IncomeShares S&P500 Options (0DTE) ETP (SPYY.L) and compare them to a chosen benchmark (S&P 500 Index).
| SPYY.L | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.49 | 0.90 | -0.41 |
Sortino ratioReturn per unit of downside risk | 0.70 | 1.39 | -0.68 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.21 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 0.46 | 1.40 | -0.94 |
Martin ratioReturn relative to average drawdown | 1.43 | 6.61 | -5.18 |
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 SPYY.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 provided a 72.85% dividend yield over the last twelve months, with an annual payout of $3.48 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $3.48 | $4.53 | $0.26 |
Dividend yield | 72.85% | 82.07% | 2.84% |
Monthly Dividends
The table displays the monthly dividend distributions for IncomeShares S&P500 Options (0DTE) ETP. 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 | $0.16 | $0.00 | $0.00 | $0.16 | |||||||||
| 2025 | $0.31 | $0.44 | $0.46 | $0.65 | $1.05 | $0.42 | $0.47 | $0.00 | $0.16 | $0.15 | $0.19 | $0.23 | $4.53 |
| 2024 | $0.26 | $0.00 | $0.26 |
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. 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 was 17.71%, occurring on Apr 7, 2025. Recovery took 76 trading sessions.
The current IncomeShares S&P500 Options (0DTE) ETP drawdown is 11.75%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -17.71% | Oct 1, 2024 | 132 | Apr 7, 2025 | 76 | Jul 28, 2025 | 208 |
| -11.78% | Jan 12, 2026 | 55 | Mar 27, 2026 | — | — | — |
| -4.83% | Aug 1, 2025 | 1 | Aug 1, 2025 | 43 | Oct 2, 2025 | 44 |
| -2.75% | Oct 29, 2025 | 15 | Nov 18, 2025 | 6 | Nov 26, 2025 | 21 |
| -2.41% | Sep 3, 2024 | 4 | Sep 6, 2024 | 8 | Sep 18, 2024 | 12 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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