BNDD vs. SPY
Compare and contrast key facts about Quadratic Deflation ETF (BNDD) and State Street SPDR S&P 500 ETF (SPY).
BNDD and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BNDD is an actively managed fund by Quadratic. It was launched on Sep 16, 2021. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
BNDD vs. SPY - Performance Comparison
Loading graphics...
BNDD vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BNDD Quadratic Deflation ETF | 3.22% | -8.17% | -6.65% | 4.02% | -17.48% | 5.54% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 9.92% |
Returns By Period
In the year-to-date period, BNDD achieves a 3.22% return, which is significantly higher than SPY's -4.37% return.
BNDD
- 1D
- -0.66%
- 1M
- 0.24%
- YTD
- 3.22%
- 6M
- -0.19%
- 1Y
- -5.11%
- 3Y*
- -4.63%
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
BNDD vs. SPY - Expense Ratio Comparison
BNDD has a 1.04% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
BNDD vs. SPY — Risk / Return Rank
BNDD
SPY
BNDD vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Quadratic Deflation ETF (BNDD) 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.
| BNDD | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.41 | 0.93 | -1.34 |
Sortino ratioReturn per unit of downside risk | -0.48 | 1.45 | -1.93 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.22 | -0.28 |
Calmar ratioReturn relative to maximum drawdown | -0.37 | 1.53 | -1.90 |
Martin ratioReturn relative to average drawdown | -0.56 | 7.30 | -7.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| BNDD | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.41 | 0.93 | -1.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.69 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.35 | 0.56 | -0.92 |
Correlation
The correlation between BNDD and SPY is 0.03, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
BNDD vs. SPY - Dividend Comparison
BNDD's dividend yield for the trailing twelve months is around 3.64%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDD Quadratic Deflation ETF | 3.64% | 3.82% | 3.85% | 4.30% | 43.17% | 1.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
BNDD vs. SPY - Drawdown Comparison
The maximum BNDD drawdown since its inception was -30.87%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BNDD and SPY.
Loading graphics...
Drawdown Indicators
| BNDD | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.87% | -55.19% | +24.32% |
Max Drawdown (1Y)Largest decline over 1 year | -10.93% | -12.05% | +1.12% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -27.28% | -6.24% | -21.04% |
Average DrawdownAverage peak-to-trough decline | -19.03% | -9.09% | -9.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.26% | 2.52% | +4.74% |
Volatility
BNDD vs. SPY - Volatility Comparison
The current volatility for Quadratic Deflation ETF (BNDD) is 3.52%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that BNDD experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| BNDD | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.52% | 5.31% | -1.79% |
Volatility (6M)Calculated over the trailing 6-month period | 8.09% | 9.47% | -1.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.44% | 19.05% | -6.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.55% | 17.06% | -3.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.55% | 17.92% | -4.37% |