KYLD vs. SPY

Last updated Aug 1, 2026

KYLD (Kurv High Income ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - KYLD is a Derivative Income fund actively managed by Kurv, while SPY is a S&P 500 fund tracking the S&P 500 Index. KYLD is actively managed, while SPY is passively managed. Their 0.77 correlation means they have sometimes moved together and sometimes differently. KYLD charges 1.00%/yr vs 0.09%/yr for SPY.

Performance

KYLD vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kurv High Income ETF (KYLD) 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 KYLD having a 10.14% return and SPY slightly lower at 10.13%.

KYLD

• 1D: -1.70%
• 1M: -7.82%
• 6M: 11.05%
• YTD: 10.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

SPY

• 1D: 0.72%
• 1M: 0.30%
• 6M: 8.53%
• YTD: 10.13%
• 1Y: 21.49%
• 3Y*: 19.32%
• 5Y*: 12.76%
• 10Y*: 15.07%
• ALL TIME*: 10.79%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KYLD Kurv High Income ETF	$1.07M	$1.06M	$870.61K
SPY State Street SPDR S&P 500 ETF	$37.27B	$35.99B	$39.23B

KYLD vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025
KYLD Kurv High Income ETF	10.14%	-11.41%
SPY State Street SPDR S&P 500 ETF	10.13%	0.60%

Correlation

The correlation between KYLD and SPY is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 31, 2025	0.77

Return for Risk

KYLD vs. SPY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KYLD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPY

SPY Risk / Return Rank: 67
SPY Sharpe Ratio Rank: 67
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 64
SPY Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KYLD vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kurv High Income ETF (KYLD) 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.

	KYLD	SPY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.52	—
Sortino ratio: Return per unit of downside risk	—	2.11	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	2.20	—
Martin ratio: Return relative to average drawdown	—	9.40	—

Drawdowns

KYLD vs. SPY - Drawdown Comparison

The maximum KYLD drawdown since its inception was -21.14%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for KYLD and SPY.

Drawdown Indicators

	KYLD	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-21.14%	-55.19%	+34.05%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.88%	—
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	-10.76%	-1.40%	-9.36%
Average Drawdown Average peak-to-trough decline	-8.03%	-9.01%	+0.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.08%	—

Volatility

Volatility by Period

	KYLD	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.58%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	32.81%	12.89%	+19.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.81%	17.18%	+15.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.81%	17.95%	+14.86%

KYLD vs. SPY - Expense Ratio Comparison

KYLD has a 1.00% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

KYLD vs. SPY - Dividend Comparison

KYLD's dividend yield for the trailing twelve months is around 22.96%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KYLD Kurv High Income ETF	22.96%	6.14%	0.00%	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	1.01%	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 KYLD and SPY in my portfolio?

KYLD and SPY have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KYLD or SPY?

On fees, SPY is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KYLD or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 1.00% for KYLD.

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

KYLD has the higher dividend yield at 22.96%, compared with 1.01% for SPY.

What is the main difference between KYLD and SPY?

KYLD is categorized as Derivative Income, while SPY is S&P 500. They also come from different issuers: Kurv and State Street. Their fees differ too: 1.00% for KYLD and 0.09% for SPY.