CRDT vs. SPY

Last updated Jun 25, 2026

CRDT (Simplify Opportunistic Income ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - CRDT is a Multisector Bonds fund actively managed by Simplify, while SPY is a S&P 500 fund tracking the S&P 500 Index. CRDT is actively managed, while SPY is passively managed. Over the past year, CRDT returned 0.28% vs 22.18% for SPY. At a 0.34 correlation, their price movements are largely independent. CRDT charges 0.50%/yr vs 0.09%/yr for SPY.

Performance

CRDT vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Opportunistic Income ETF (CRDT) 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, CRDT achieves a 1.84% return, which is significantly lower than SPY's 8.10% return.

CRDT

• 1D: 0.30%
• 1M: 1.24%
• YTD: 1.84%
• 6M: 2.13%
• 1Y: 0.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: -0.05%
• 1M: -1.41%
• YTD: 8.10%
• 6M: 6.77%
• 1Y: 22.18%
• 3Y*: 20.66%
• 5Y*: 12.96%
• 10Y*: 15.53%

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

CRDT vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CRDT Simplify Opportunistic Income ETF	1.84%	-0.67%	5.19%	5.20%
SPY State Street SPDR S&P 500 ETF	8.10%	17.72%	24.89%	11.01%

Correlation

The correlation between CRDT and SPY is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jun 27, 2023	0.34

The correlation between CRDT and SPY shifts across timeframes, from 0.34 (all time) to 0.45 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CRDT vs. SPY — Risk / Return Rank

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

CRDT

CRDT Risk / Return Rank: 9
CRDT Sharpe Ratio Rank: 9
CRDT Sortino Ratio Rank: 8
CRDT Omega Ratio Rank: 9
CRDT Calmar Ratio Rank: 9
CRDT Martin Ratio Rank: 9

SPY

SPY Risk / Return Rank: 60
SPY Sharpe Ratio Rank: 59
SPY Sortino Ratio Rank: 57
SPY Omega Ratio Rank: 59
SPY Calmar Ratio Rank: 57
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.

CRDT vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Opportunistic Income ETF (CRDT) 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.

	CRDT	SPY	Difference
Sharpe ratio: Return per unit of total volatility	0.03	1.79	-1.76
Sortino ratio: Return per unit of downside risk	0.10	2.45	-2.34
Omega ratio: Gain probability vs. loss probability	1.01	1.33	-0.31
Calmar ratio: Return relative to maximum drawdown	0.04	2.51	-2.47
Martin ratio: Return relative to average drawdown	0.11	11.15	-11.04

CRDT vs. SPY - Sharpe Ratio Comparison

The current CRDT Sharpe Ratio is 0.03, which is lower than the SPY Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of CRDT 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

CRDT vs. SPY - Drawdown Comparison

The maximum CRDT drawdown since its inception was -9.80%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CRDT and SPY.

Drawdown Indicators

	CRDT	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-9.80%	-55.19%	+45.39%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-8.88%	+1.70%
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	-3.35%	-3.22%	-0.13%
Average Drawdown Average peak-to-trough decline	-2.32%	-9.03%	+6.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	1.99%	+0.46%

Volatility

CRDT vs. SPY - Volatility Comparison

Simplify Opportunistic Income ETF (CRDT) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 4.65% and 4.85%, 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

	CRDT	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.65%	4.85%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	8.46%	9.81%	-1.35%
Volatility (1Y) Calculated over the trailing 1-year period	9.51%	12.47%	-2.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.31%	17.15%	-9.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.31%	17.95%	-10.64%

CRDT vs. SPY - Expense Ratio Comparison

CRDT has a 0.50% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

CRDT vs. SPY - Dividend Comparison

CRDT's dividend yield for the trailing twelve months is around 6.34%, more than SPY's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRDT Simplify Opportunistic Income ETF	6.34%	7.04%	7.29%	2.59%	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 CRDT and SPY in my portfolio?

CRDT 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, CRDT or SPY?

SPY has higher volatility (4.85%) compared to CRDT (4.65%). In terms of maximum drawdown, CRDT dropped -9.80% vs SPY's -55.19%.

Which ETF is better, CRDT or SPY?

On 1-year performance, SPY leads with 22.18% vs 0.28% for CRDT. On fees, SPY is cheaper at 0.09% per year. On volatility, CRDT has been the lower-risk option at 4.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CRDT or SPY?

Over the 1-year period, SPY has performed better with a 22.18% return vs 0.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CRDT or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.50% for CRDT.

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

CRDT has the higher dividend yield at 6.34%, compared with 1.03% for SPY.

What is the main difference between CRDT and SPY?

CRDT is categorized as Multisector Bonds, while SPY is S&P 500. They also come from different issuers: Simplify and State Street. Their fees differ too: 0.50% for CRDT and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.79 vs 0.03), 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.