BETZ vs. SPY

Last updated Aug 2, 2026

BETZ (Roundhill Sports Betting & iGaming ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - BETZ is a Consumer Discretionary Equities fund tracking the Roundhill Sports Betting & iGaming Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, BETZ returned -5.84%/yr vs 12.76%/yr for SPY. Their 0.66 correlation means they have sometimes moved together and sometimes differently. BETZ charges 0.75%/yr vs 0.09%/yr for SPY.

Performance

BETZ vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Sports Betting & iGaming ETF (BETZ) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BETZ achieves a -8.87% return, which is significantly lower than SPY's 10.13% return.

BETZ

• 1D: -0.58%
• 1M: 0.36%
• 6M: 2.90%
• YTD: -8.87%
• 1Y: -16.95%
• 3Y*: 3.15%
• 5Y*: -5.84%
• 10Y*: —
• ALL TIME*: 4.39%

SPY

• 1D: 0.72%
• 1M: 0.30%
• 6M: 8.53%
• YTD: 10.13%
• 1Y: 21.49%
• 3Y*: 19.32%
• 5Y*: 12.76%
• 10Y*: 15.07%
• ALL TIME*: 10.79%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BETZ Roundhill Sports Betting & iGaming ETF	$205.48K	$310.34K	$782.30K
SPY State Street SPDR S&P 500 ETF	$37.27B	$35.99B	$39.23B

BETZ vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BETZ Roundhill Sports Betting & iGaming ETF	-8.87%	15.75%	10.22%	21.17%	-42.02%	-3.91%	65.99%
SPY State Street SPDR S&P 500 ETF	10.13%	17.72%	24.89%	26.18%	-18.18%	28.73%	21.29%

Correlation

The correlation between BETZ and SPY is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.45
Correlation (3Y) Balances recent behavior with more history.	0.59
Correlation (5Y) Shows whether the relationship held over a longer period.	0.66
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020	0.66

Over the past year, the correlation between BETZ and SPY has dropped to 0.45 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

BETZ vs. SPY - Sectors Allocation Comparison

Sectors	BETZ	SPY
Consumer Cyclical	77.1%	8.9%
Technology	8.6%	36.9%
Communication Services	3.9%	9.7%
Industrials	2.8%	7.6%
Financial Services	0.0%	12.5%
Basic Materials	-	1.9%
Consumer Defensive	-	4.8%
Energy	-	3.4%
Healthcare	-	9.4%
Real Estate	-	2.0%
Utilities	-	2.6%

Return for Risk

BETZ vs. SPY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BETZ

BETZ Risk / Return Rank: 4
BETZ Sharpe Ratio Rank: 3
BETZ Sortino Ratio Rank: 3
BETZ Omega Ratio Rank: 3
BETZ Calmar Ratio Rank: 4
BETZ Martin Ratio Rank: 5

SPY

SPY Risk / Return Rank: 67
SPY Sharpe Ratio Rank: 67
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 64
SPY Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BETZ vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Sports Betting & iGaming ETF (BETZ) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BETZ	SPY	Difference
Sharpe ratio: Return per unit of total volatility	-0.83	1.52	-2.35
Sortino ratio: Return per unit of downside risk	-1.09	2.11	-3.20
Omega ratio: Gain probability vs. loss probability	0.88	1.27	-0.39
Calmar ratio: Return relative to maximum drawdown	-0.60	2.20	-2.81
Martin ratio: Return relative to average drawdown	-0.93	9.40	-10.33

BETZ vs. SPY - Sharpe Ratio Comparison

The current BETZ Sharpe Ratio is -0.83, which is lower than the SPY Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of BETZ and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BETZ vs. SPY - Drawdown Comparison

The maximum BETZ drawdown since its inception was -60.82%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BETZ and SPY.

Drawdown Indicators

	BETZ	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-60.82%	-55.19%	-5.63%
Max Drawdown (1Y) Largest decline over 1 year	-29.20%	-8.88%	-20.32%
Max Drawdown (3Y) Largest decline over 3 years	-29.20%	-18.76%	-10.44%
Max Drawdown (5Y) Largest decline over 5 years	-59.79%	-24.50%	-35.29%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-38.35%	-1.40%	-36.95%
Average Drawdown Average peak-to-trough decline	-33.89%	-9.01%	-24.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.92%	2.08%	+16.84%

Volatility

BETZ vs. SPY - Volatility Comparison

Roundhill Sports Betting & iGaming ETF (BETZ) has a higher volatility of 5.96% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that BETZ's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BETZ	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.96%	3.58%	+2.38%
Volatility (6M) Calculated over the trailing 6-month period	17.04%	10.14%	+6.90%
Volatility (1Y) Calculated over the trailing 1-year period	21.17%	12.89%	+8.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.97%	17.18%	+9.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.85%	17.95%	+9.90%

BETZ vs. SPY - Expense Ratio Comparison

BETZ has a 0.75% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

BETZ vs. SPY - Dividend Comparison

BETZ's dividend yield for the trailing twelve months is around 5.02%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BETZ Roundhill Sports Betting & iGaming ETF	5.02%	4.57%	0.86%	0.00%	0.66%	0.00%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.01%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both BETZ and SPY in my portfolio?

BETZ and SPY have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BETZ or SPY?

BETZ has higher volatility (5.96%) compared to SPY (3.58%). In terms of maximum drawdown, BETZ dropped -60.82% vs SPY's -55.19%.

Which ETF is better, BETZ or SPY?

On 5-year performance, SPY leads with 12.76% vs -5.84% for BETZ. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BETZ or SPY?

Over the 5-year period, SPY has performed better with a 12.76% return vs -5.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BETZ or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.75% for BETZ.

Which ETF pays a higher dividend yield, BETZ or SPY?

BETZ has the higher dividend yield at 5.02%, compared with 1.01% for SPY.

What is the main difference between BETZ and SPY?

BETZ is categorized as Consumer Discretionary Equities, while SPY is S&P 500. BETZ tracks Roundhill Sports Betting & iGaming Index, while SPY tracks S&P 500 Index. They also come from different issuers: Roundhill and State Street. Their fees differ too: 0.75% for BETZ and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.52 vs -0.83), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.