BWTG vs. SPY

Last updated Jun 24, 2026

BWTG (Brendan Wood TopGun ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - BWTG is a Large Cap Blend Equities fund actively managed by Brendan Wood, while SPY is a S&P 500 fund tracking the S&P 500 Index. BWTG is actively managed, while SPY is passively managed. Over the past year, BWTG returned 18.91% vs 23.59% for SPY. Their correlation of 0.88 suggests significant overlap in exposure. BWTG charges 0.95%/yr vs 0.09%/yr for SPY.

Performance

BWTG vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brendan Wood TopGun ETF (BWTG) 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, BWTG achieves a 6.52% return, which is significantly lower than SPY's 8.15% return.

BWTG

• 1D: -1.64%
• 1M: 2.54%
• YTD: 6.52%
• 6M: 6.20%
• 1Y: 18.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: -1.45%
• 1M: -1.36%
• YTD: 8.15%
• 6M: 7.20%
• 1Y: 23.59%
• 3Y*: 20.68%
• 5Y*: 13.05%
• 10Y*: 15.53%

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

BWTG vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BWTG Brendan Wood TopGun ETF	6.52%	16.45%	20.68%	11.17%
SPY State Street SPDR S&P 500 ETF	8.15%	17.72%	24.89%	9.15%

Correlation

The correlation between BWTG and SPY is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Nov 9, 2023	0.88

The correlation between BWTG and SPY has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.

BWTG vs. SPY - Sectors Allocation Comparison

Sectors	BWTG	SPY
Technology	27.3%	39.0%
Financial Services	22.7%	11.1%
Industrials	15.0%	7.8%
Real Estate	11.8%	1.8%
Healthcare	7.1%	8.3%
Communication Services	4.2%	10.6%
Consumer Defensive	4.2%	4.5%
Consumer Cyclical	3.9%	9.9%
Utilities	3.4%	2.1%
Basic Materials	-	1.7%
Energy	-	3.1%

Return for Risk

BWTG vs. SPY — Risk / Return Rank

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

BWTG

BWTG Risk / Return Rank: 48
BWTG Sharpe Ratio Rank: 49
BWTG Sortino Ratio Rank: 48
BWTG Omega Ratio Rank: 47
BWTG Calmar Ratio Rank: 42
BWTG Martin Ratio Rank: 53

SPY

SPY Risk / Return Rank: 59
SPY Sharpe Ratio Rank: 58
SPY Sortino Ratio Rank: 56
SPY Omega Ratio Rank: 57
SPY Calmar Ratio Rank: 56
SPY Martin Ratio Rank: 67

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.

BWTG vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brendan Wood TopGun ETF (BWTG) 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.

	BWTG	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.55	1.90	-0.35
Sortino ratio: Return per unit of downside risk	2.20	2.58	-0.38
Omega ratio: Gain probability vs. loss probability	1.28	1.34	-0.07
Calmar ratio: Return relative to maximum drawdown	1.91	2.67	-0.75
Martin ratio: Return relative to average drawdown	8.49	11.92	-3.43

BWTG vs. SPY - Sharpe Ratio Comparison

The current BWTG Sharpe Ratio is 1.55, which is comparable to the SPY Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of BWTG 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

BWTG vs. SPY - Drawdown Comparison

The maximum BWTG drawdown since its inception was -13.18%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BWTG and SPY.

Drawdown Indicators

	BWTG	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-13.18%	-55.19%	+42.01%
Max Drawdown (1Y) Largest decline over 1 year	-9.93%	-8.88%	-1.05%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.76%	—
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	-1.64%	-3.17%	+1.53%
Average Drawdown Average peak-to-trough decline	-1.75%	-9.04%	+7.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	1.98%	+0.25%

Volatility

BWTG vs. SPY - Volatility Comparison

Brendan Wood TopGun ETF (BWTG) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 4.85% and 4.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BWTG	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	4.87%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	10.13%	9.85%	+0.28%
Volatility (1Y) Calculated over the trailing 1-year period	12.26%	12.50%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.11%	17.15%	-3.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.11%	17.95%	-3.84%

BWTG vs. SPY - Expense Ratio Comparison

BWTG has a 0.95% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

BWTG vs. SPY - Dividend Comparison

BWTG's dividend yield for the trailing twelve months is around 0.33%, less than SPY's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BWTG Brendan Wood TopGun ETF	0.33%	0.35%	0.25%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.03%	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 BWTG and SPY in my portfolio?

BWTG and SPY have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BWTG or SPY?

SPY has higher volatility (4.87%) compared to BWTG (4.85%). In terms of maximum drawdown, BWTG dropped -13.18% vs SPY's -55.19%.

Which ETF is better, BWTG or SPY?

On 1-year performance, SPY leads with 23.59% vs 18.91% for BWTG. On fees, SPY is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BWTG or SPY?

Over the 1-year period, SPY has performed better with a 23.59% return vs 18.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BWTG or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.95% for BWTG.

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

SPY has the higher dividend yield at 1.03%, compared with 0.33% for BWTG.

What is the main difference between BWTG and SPY?

BWTG is categorized as Large Cap Blend Equities, while SPY is S&P 500. They also come from different issuers: Brendan Wood and State Street. Their fees differ too: 0.95% for BWTG and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.90 vs 1.55), 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.