DECO vs. SPY

Last updated Jun 4, 2026

DECO (State Street Galaxy Digital Asset Ecosystem ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - DECO is a Blockchain fund actively managed by State Street, while SPY is a S&P 500 fund tracking the S&P 500 Index. DECO is actively managed, while SPY is passively managed. Over the past year, DECO returned 167.73% vs 27.98% for SPY. A 0.69 correlation means they provide meaningful diversification when combined. DECO charges 0.65%/yr vs 0.09%/yr for SPY.

Performance

DECO vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Galaxy Digital Asset Ecosystem ETF (DECO) 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, DECO achieves a 79.56% return, which is significantly higher than SPY's 10.91% return.

DECO

• 1D: 0.01%
• 1M: 39.50%
• YTD: 79.56%
• 6M: 62.77%
• 1Y: 167.73%
• 3Y*: —
• 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)

DECO vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DECO State Street Galaxy Digital Asset Ecosystem ETF	79.56%	42.48%	29.54%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	7.48%

Correlation

The correlation between DECO and SPY is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (All Time) Calculated using the full available price history since Sep 11, 2024	0.69

The correlation between DECO and SPY has been stable across timeframes, ranging from 0.69 to 0.69 - a consistent structural relationship.

DECO vs. SPY - Sectors Allocation Comparison

Sectors	DECO	SPY
Technology	47.6%	35.9%
Financial Services	44.9%	11.8%
Industrials	5.2%	7.8%
Basic Materials	1.8%	1.8%
Communication Services	-	11.3%
Consumer Cyclical	-	10.3%
Consumer Defensive	-	4.8%
Energy	-	3.6%
Healthcare	-	8.4%
Real Estate	-	1.9%
Utilities	-	2.4%

Return for Risk

DECO vs. SPY — Risk / Return Rank

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

DECO

DECO Risk / Return Rank: 89
DECO Sharpe Ratio Rank: 95
DECO Sortino Ratio Rank: 87
DECO Omega Ratio Rank: 82
DECO Calmar Ratio Rank: 93
DECO Martin Ratio Rank: 87

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.

DECO vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Galaxy Digital Asset Ecosystem ETF (DECO) 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.

	DECO	SPY	Difference
Sharpe ratio: Return per unit of total volatility	3.80	2.38	+1.43
Sortino ratio: Return per unit of downside risk	3.94	3.24	+0.70
Omega ratio: Gain probability vs. loss probability	1.49	1.43	+0.06
Calmar ratio: Return relative to maximum drawdown	6.59	3.16	+3.43
Martin ratio: Return relative to average drawdown	18.43	14.72	+3.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DECO vs. SPY - Sharpe Ratio Comparison

The current DECO Sharpe Ratio is 3.80, which is higher than the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of DECO 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

	DECO	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.80	2.38	+1.43
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	1.96	0.59	+1.37

Drawdowns

DECO vs. SPY - Drawdown Comparison

The maximum DECO drawdown since its inception was -47.71%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for DECO and SPY.

Drawdown Indicators

	DECO	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-47.71%	-55.19%	+7.48%
Max Drawdown (1Y) Largest decline over 1 year	-25.60%	-8.88%	-16.72%
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	-0.33%	-0.70%	+0.37%
Average Drawdown Average peak-to-trough decline	-11.67%	-9.05%	-2.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.14%	1.91%	+7.23%

Volatility

DECO vs. SPY - Volatility Comparison

State Street Galaxy Digital Asset Ecosystem ETF (DECO) has a higher volatility of 11.53% compared to State Street SPDR S&P 500 ETF (SPY) at 2.84%. This indicates that DECO'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

	DECO	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.53%	2.84%	+8.69%
Volatility (6M) Calculated over the trailing 6-month period	33.83%	8.90%	+24.93%
Volatility (1Y) Calculated over the trailing 1-year period	44.46%	11.83%	+32.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.50%	17.05%	+34.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.50%	17.94%	+33.56%

DECO vs. SPY - Expense Ratio Comparison

DECO has a 0.65% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

DECO vs. SPY - Dividend Comparison

DECO's dividend yield for the trailing twelve months is around 0.64%, less than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DECO State Street Galaxy Digital Asset Ecosystem ETF	0.64%	1.16%	1.73%	0.00%	0.00%	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 DECO and SPY in my portfolio?

DECO and SPY have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DECO or SPY?

DECO has higher volatility (11.53%) compared to SPY (2.84%). In terms of maximum drawdown, DECO dropped -47.71% vs SPY's -55.19%.

Which ETF is better, DECO or SPY?

On 1-year performance, DECO leads with 167.73% vs 27.98% 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, DECO or SPY?

Over the 1-year period, DECO has performed better with a 167.73% return vs 27.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DECO or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.65% for DECO.

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

SPY has the higher dividend yield at 0.98%, compared with 0.64% for DECO.

What is the main difference between DECO and SPY?

DECO is categorized as Blockchain, while SPY is S&P 500. Their fees differ too: 0.65% for DECO and 0.09% for SPY.

Which has better risk-adjusted returns?

DECO currently has the higher Sharpe Ratio (3.80 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.