ETHO vs. SPY

Last updated Jun 4, 2026

ETHO (Amplify Etho Climate Leadership U.S. ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - ETHO is a Mid Cap Blend Equities fund tracking the Etho Climate Leadership Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, ETHO returned 34.51% vs 27.98% for SPY. Their correlation of 0.83 suggests significant overlap in exposure. ETHO charges 0.45%/yr vs 0.09%/yr for SPY.

Performance

ETHO vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Etho Climate Leadership U.S. ETF (ETHO) 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, ETHO achieves a 17.28% return, which is significantly higher than SPY's 10.91% return.

ETHO

• 1D: -0.81%
• 1M: 4.96%
• YTD: 17.28%
• 6M: 16.47%
• 1Y: 34.51%
• 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)

ETHO vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETHO Amplify Etho Climate Leadership U.S. ETF	17.28%	10.23%	8.17%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	20.83%

Correlation

The correlation between ETHO and SPY is 0.82, 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	0.82
Correlation (All Time) Calculated using the full available price history since Jan 30, 2024	0.83

The correlation between ETHO and SPY has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.

ETHO vs. SPY - Sectors Allocation Comparison

Sectors	ETHO	SPY
Technology	26.3%	35.9%
Industrials	16.7%	7.8%
Financial Services	13.0%	11.8%
Healthcare	11.6%	8.4%
Consumer Cyclical	10.8%	10.3%
Real Estate	6.5%	1.9%
Consumer Defensive	4.7%	4.8%
Communication Services	4.5%	11.3%
Basic Materials	3.1%	1.8%
Utilities	2.5%	2.4%
Energy	0.4%	3.6%

Return for Risk

ETHO vs. SPY — Risk / Return Rank

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

ETHO

ETHO Risk / Return Rank: 64
ETHO Sharpe Ratio Rank: 58
ETHO Sortino Ratio Rank: 59
ETHO Omega Ratio Rank: 54
ETHO Calmar Ratio Rank: 75
ETHO Martin Ratio Rank: 76

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.

ETHO vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Etho Climate Leadership U.S. ETF (ETHO) 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.

	ETHO	SPY	Difference
Sharpe ratio Return per unit of total volatility	1.97	2.38	-0.41
Sortino ratio Return per unit of downside risk	2.79	3.24	-0.44
Omega ratio Gain probability vs. loss probability	1.34	1.43	-0.09
Calmar ratio Return relative to maximum drawdown	3.75	3.16	+0.59
Martin ratio Return relative to average drawdown	14.52	14.72	-0.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETHO vs. SPY - Sharpe Ratio Comparison

The current ETHO Sharpe Ratio is 1.97, which is comparable to the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of ETHO 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

	ETHO	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	2.38	-0.41
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	0.80	0.59	+0.21

Drawdowns

ETHO vs. SPY - Drawdown Comparison

The maximum ETHO drawdown since its inception was -25.50%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ETHO and SPY.

Drawdown Indicators

	ETHO	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-25.50%	-55.19%	+29.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.25%	-8.88%	-0.37%
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	-0.81%	-0.70%	-0.11%
Average Drawdown Average peak-to-trough decline	-4.50%	-9.05%	+4.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.38%	1.91%	+0.47%

Volatility

ETHO vs. SPY - Volatility Comparison

Amplify Etho Climate Leadership U.S. ETF (ETHO) has a higher volatility of 4.11% compared to State Street SPDR S&P 500 ETF (SPY) at 2.84%. This indicates that ETHO'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

	ETHO	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	2.84%	+1.27%
Volatility (6M) Calculated over the trailing 6-month period	12.77%	8.90%	+3.87%
Volatility (1Y) Calculated over the trailing 1-year period	17.64%	11.83%	+5.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.40%	17.05%	+2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.40%	17.94%	+1.46%

ETHO vs. SPY - Expense Ratio Comparison

ETHO has a 0.45% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

ETHO vs. SPY - Dividend Comparison

ETHO's dividend yield for the trailing twelve months is around 0.73%, less than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETHO Amplify Etho Climate Leadership U.S. ETF	0.73%	0.86%	0.69%	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 ETHO and SPY in my portfolio?

ETHO and SPY have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETHO or SPY?

ETHO has higher volatility (4.11%) compared to SPY (2.84%). In terms of maximum drawdown, ETHO dropped -25.50% vs SPY's -55.19%.

Which ETF is better, ETHO or SPY?

On 1-year performance, ETHO leads with 34.51% 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, ETHO or SPY?

Over the 1-year period, ETHO has performed better with a 34.51% return vs 27.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETHO or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.45% for ETHO.

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

SPY has the higher dividend yield at 0.98%, compared with 0.73% for ETHO.

What is the main difference between ETHO and SPY?

ETHO is categorized as Mid Cap Blend Equities, while SPY is S&P 500. ETHO tracks Etho Climate Leadership Index, while SPY tracks S&P 500 Index. They also come from different issuers: Amplify and State Street. Their fees differ too: 0.45% for ETHO and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.38 vs 1.97), 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.