KYLD vs. SPY

Last updated Jul 14, 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. A 0.79 correlation means they provide meaningful diversification when combined. 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

In the year-to-date period, KYLD achieves a 16.05% return, which is significantly higher than SPY's 10.45% return.

KYLD

• 1D: -2.30%
• 1M: -0.42%
• 6M: 8.87%
• YTD: 16.05%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: -0.77%
• 1M: 1.26%
• 6M: 8.34%
• YTD: 10.45%
• 1Y: 21.46%
• 3Y*: 20.07%
• 5Y*: 12.94%
• 10Y*: 15.08%

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

KYLD vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025
KYLD Kurv High Income ETF	16.05%	-11.41%
SPY State Street SPDR S&P 500 ETF	10.45%	0.60%

Correlation

The correlation between KYLD and SPY is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 31, 2025	0.79

Return for Risk

KYLD vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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: 66
SPY Sharpe Ratio Rank: 66
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 61
SPY Martin Ratio Rank: 72

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.

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	—	1.71	—
Sortino ratio: Return per unit of downside risk	—	2.37	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	2.43	—
Martin ratio: Return relative to average drawdown	—	10.57	—

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	-5.97%	-1.12%	-4.85%
Average Drawdown Average peak-to-trough decline	-8.00%	-9.02%	+1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.03%	—

Volatility

Volatility by Period

	KYLD	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.26%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.01%	—
Volatility (1Y) Calculated over the trailing 1-year period	32.69%	12.60%	+20.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.69%	17.17%	+15.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.69%	17.93%	+14.76%

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 20.10%, more than SPY's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KYLD Kurv High Income ETF	20.10%	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	1.00%	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 0.79, 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 20.10%, compared with 1.00% 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.