EPS vs. SPY

Last updated Jun 4, 2026

EPS (WisdomTree U.S. LargeCap Fund) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - EPS is a Large Cap Growth Equities fund tracking the WisdomTree U.S. Large Cap Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, EPS returned 14.89%/yr vs 15.49%/yr for SPY. Their correlation of 0.93 suggests significant overlap in exposure. EPS charges 0.08%/yr vs 0.09%/yr for SPY.

Performance

EPS vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. LargeCap Fund (EPS) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with EPS having a 11.42% return and SPY slightly lower at 10.91%. Both investments have delivered pretty close results over the past 10 years, with EPS having a 14.89% annualized return and SPY not far ahead at 15.49%.

EPS

• 1D: -0.81%
• 1M: 4.89%
• YTD: 11.42%
• 6M: 11.50%
• 1Y: 29.14%
• 3Y*: 22.06%
• 5Y*: 13.06%
• 10Y*: 14.89%

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)

EPS vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EPS WisdomTree U.S. LargeCap Fund	11.42%	17.40%	23.97%	22.81%	-15.82%	27.47%	12.02%	32.54%	-7.52%	22.73%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between EPS and SPY is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Feb 26, 2007	0.93

The correlation between EPS and SPY has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.

EPS vs. SPY - Sectors Allocation Comparison

Sectors	EPS	SPY
Technology	32.5%	35.9%
Financial Services	15.4%	11.8%
Communication Services	13.4%	11.3%
Consumer Cyclical	10.9%	10.3%
Healthcare	9.5%	8.4%
Industrials	5.4%	7.8%
Energy	4.4%	3.6%
Consumer Defensive	4.3%	4.8%
Utilities	2.1%	2.4%
Basic Materials	1.3%	1.8%
Real Estate	0.9%	1.9%

Return for Risk

EPS vs. SPY — Risk / Return Rank

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

EPS

EPS Risk / Return Rank: 77
EPS Sharpe Ratio Rank: 78
EPS Sortino Ratio Rank: 78
EPS Omega Ratio Rank: 77
EPS Calmar Ratio Rank: 69
EPS Martin Ratio Rank: 81

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.

EPS vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. LargeCap Fund (EPS) 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.

	EPS	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.58	2.38	+0.20
Sortino ratio: Return per unit of downside risk	3.54	3.24	+0.30
Omega ratio: Gain probability vs. loss probability	1.47	1.43	+0.03
Calmar ratio: Return relative to maximum drawdown	3.49	3.16	+0.33
Martin ratio: Return relative to average drawdown	16.29	14.72	+1.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EPS vs. SPY - Sharpe Ratio Comparison

The current EPS Sharpe Ratio is 2.58, which is comparable to the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of EPS 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

	EPS	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	2.38	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.82	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.87	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.59	-0.03

Drawdowns

EPS vs. SPY - Drawdown Comparison

The maximum EPS drawdown since its inception was -54.43%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for EPS and SPY.

Drawdown Indicators

	EPS	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-54.43%	-55.19%	+0.76%
Max Drawdown (1Y) Largest decline over 1 year	-8.39%	-8.88%	+0.49%
Max Drawdown (3Y) Largest decline over 3 years	-17.65%	-18.76%	+1.11%
Max Drawdown (5Y) Largest decline over 5 years	-23.55%	-24.50%	+0.95%
Max Drawdown (10Y) Largest decline over 10 years	-35.79%	-33.72%	-2.07%
Current Drawdown Current decline from peak	-0.81%	-0.70%	-0.11%
Average Drawdown Average peak-to-trough decline	-7.66%	-9.05%	+1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	1.91%	-0.12%

Volatility

EPS vs. SPY - Volatility Comparison

WisdomTree U.S. LargeCap Fund (EPS) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 2.79% and 2.84%, 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

	EPS	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	2.84%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	8.77%	8.90%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	11.34%	11.83%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.02%	17.05%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.65%	17.94%	-0.29%

EPS vs. SPY - Expense Ratio Comparison

EPS has a 0.08% expense ratio, which is lower than SPY's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EPS vs. SPY - Dividend Comparison

EPS's dividend yield for the trailing twelve months is around 1.14%, more than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPS WisdomTree U.S. LargeCap Fund	1.14%	1.26%	1.47%	1.73%	1.95%	1.51%	1.85%	1.70%	2.02%	1.59%	1.99%	2.15%
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 EPS and SPY in my portfolio?

With a correlation of 0.98, EPS 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, EPS or SPY?

SPY has higher volatility (2.84%) compared to EPS (2.79%). In terms of maximum drawdown, EPS dropped -54.43% vs SPY's -55.19%.

Which ETF is better, EPS or SPY?

On 10-year performance, SPY leads with 15.49% vs 14.89% for EPS. On fees, EPS is cheaper at 0.08% 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, EPS or SPY?

Over the 10-year period, SPY has performed better with a 15.49% return vs 14.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPS or SPY?

EPS is cheaper with a 0.08% expense ratio, compared with 0.09% for SPY.

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

EPS has the higher dividend yield at 1.14%, compared with 0.98% for SPY.

What is the main difference between EPS and SPY?

EPS is categorized as Large Cap Growth Equities, while SPY is S&P 500. EPS tracks WisdomTree U.S. Large Cap Index, while SPY tracks S&P 500 Index. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.08% for EPS and 0.09% for SPY.

Which has better risk-adjusted returns?

EPS currently has the higher Sharpe Ratio (2.58 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.