BRNY vs. SPY

Last updated Jun 4, 2026

BRNY (Burney U.S. Factor Rotation ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - BRNY is a fund fund actively managed by Alpha Architect, while SPY is a S&P 500 fund tracking the S&P 500 Index. BRNY is actively managed, while SPY is passively managed. Over the past 3 years, BRNY returned 28.09%/yr vs 22.35%/yr for SPY. Their correlation of 0.90 suggests significant overlap in exposure. BRNY charges 0.79%/yr vs 0.09%/yr for SPY.

Performance

BRNY vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Burney U.S. Factor Rotation ETF (BRNY) 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, BRNY achieves a 13.50% return, which is significantly higher than SPY's 10.91% return.

BRNY

• 1D: -0.36%
• 1M: 5.73%
• YTD: 13.50%
• 6M: 15.49%
• 1Y: 32.72%
• 3Y*: 28.09%
• 5Y*: —
• 10Y*: —

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

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

BRNY vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BRNY Burney U.S. Factor Rotation ETF	13.50%	22.02%	28.84%	22.36%	8.91%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	24.89%	26.18%	7.43%

Correlation

The correlation between BRNY and SPY is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 17, 2022	0.90

The correlation between BRNY and SPY has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

BRNY vs. SPY - Sectors Allocation Comparison

Sectors	BRNY	SPY
Technology	30.6%	35.9%
Financial Services	16.6%	11.8%
Consumer Cyclical	10.7%	10.3%
Communication Services	10.3%	11.3%
Healthcare	10.0%	8.4%
Industrials	7.4%	7.8%
Utilities	5.2%	2.4%
Basic Materials	5.1%	1.8%
Energy	1.7%	3.6%
Consumer Defensive	1.4%	4.8%
Real Estate	1.0%	1.9%

Return for Risk

BRNY vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BRNY

BRNY Risk / Return Rank: 73
BRNY Sharpe Ratio Rank: 75
BRNY Sortino Ratio Rank: 74
BRNY Omega Ratio Rank: 72
BRNY Calmar Ratio Rank: 71
BRNY Martin Ratio Rank: 73

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BRNY vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Burney U.S. Factor Rotation ETF (BRNY) 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.

	BRNY	SPY	Difference
Sharpe ratio Return per unit of total volatility	2.44	2.38	+0.06
Sortino ratio Return per unit of downside risk	3.36	3.24	+0.12
Omega ratio Gain probability vs. loss probability	1.43	1.43	0.00
Calmar ratio Return relative to maximum drawdown	3.52	3.16	+0.36
Martin ratio Return relative to average drawdown	13.84	14.72	-0.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRNY vs. SPY - Sharpe Ratio Comparison

The current BRNY Sharpe Ratio is 2.44, which is comparable to the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of BRNY 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.

Sharpe Ratios by Period

	BRNY	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	2.38	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.82	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	0.59	+1.02

Drawdowns

BRNY vs. SPY - Drawdown Comparison

The maximum BRNY drawdown since its inception was -19.14%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BRNY and SPY.

Drawdown Indicators

	BRNY	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-19.14%	-55.19%	+36.05%
Max Drawdown (1Y) Largest decline over 1 year	-9.34%	-8.88%	-0.46%
Max Drawdown (3Y) Largest decline over 3 years	-19.14%	-18.76%	-0.38%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-0.58%	-0.70%	+0.12%
Average Drawdown Average peak-to-trough decline	-2.77%	-9.05%	+6.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	1.91%	+0.46%

Volatility

BRNY vs. SPY - Volatility Comparison

Burney U.S. Factor Rotation ETF (BRNY) has a higher volatility of 4.07% compared to State Street SPDR S&P 500 ETF (SPY) at 2.84%. This indicates that BRNY'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

	BRNY	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	2.84%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	10.25%	8.90%	+1.35%
Volatility (1Y) Calculated over the trailing 1-year period	13.48%	11.83%	+1.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	17.05%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	17.94%	-1.02%

BRNY vs. SPY - Expense Ratio Comparison

BRNY has a 0.79% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

BRNY vs. SPY - Dividend Comparison

BRNY's dividend yield for the trailing twelve months is around 0.33%, less than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRNY Burney U.S. Factor Rotation ETF	0.33%	0.30%	0.23%	0.68%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	0.98%	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 BRNY and SPY in my portfolio?

With a correlation of 0.91, BRNY and SPY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BRNY or SPY?

BRNY has higher volatility (4.07%) compared to SPY (2.84%). In terms of maximum drawdown, BRNY dropped -19.14% vs SPY's -55.19%.

Which ETF is better, BRNY or SPY?

On 3-year performance, BRNY leads with 28.09% vs 22.35% for SPY. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BRNY or SPY?

Over the 3-year period, BRNY has performed better with a 28.09% return vs 22.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BRNY or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.79% for BRNY.

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

SPY has the higher dividend yield at 0.98%, compared with 0.33% for BRNY.

What is the main difference between BRNY and SPY?

They also come from different issuers: Alpha Architect and State Street. Their fees differ too: 0.79% for BRNY and 0.09% for SPY.

Which has better risk-adjusted returns?

BRNY currently has the higher Sharpe Ratio (2.44 vs 2.38), 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.