NFLP vs. SPY
NFLP (Kurv Yield Premium Strategy Netflix ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - NFLP is a Derivative Income fund actively managed by Kurv, while SPY is a S&P 500 fund tracking the S&P 500 Index. NFLP is actively managed, while SPY is passively managed. Over the past year, NFLP returned -42.59% vs 21.49% for SPY. Their 0.36 correlation means their historical movements had little consistent relationship. NFLP charges 0.99%/yr vs 0.09%/yr for SPY.
Performance
NFLP vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, NFLP achieves a -30.47% return, which is significantly lower than SPY's 10.13% return.
NFLP
- 1D
- -2.01%
- 1M
- -9.19%
- 6M
- -20.88%
- YTD
- -30.47%
- 1Y
- -42.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.67%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $81.23K | $78.18K | $82.65K | |
| $37.27B | $35.99B | $39.23B |
NFLP vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NFLP Kurv Yield Premium Strategy Netflix ETF | -30.47% | -1.54% | 53.24% | 13.91% |
SPY State Street SPDR S&P 500 ETF | 10.13% | 17.72% | 24.89% | 15.68% |
Correlation
The correlation between NFLP and SPY is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023 | 0.36 |
Over the past year, the correlation between NFLP and SPY has dropped to 0.09 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.
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Return for Risk
NFLP vs. SPY — Risk / Return Rank
NFLP
SPY
NFLP vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Netflix ETF (NFLP) 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.
| NFLP | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.72 | ||
| Sortino ratioReturn per unit of downside risk | -3.93 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.27 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 2.20 | -3.05 |
| Martin ratioReturn relative to average drawdown | -1.54 | 9.40 | -10.94 |
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Drawdowns
NFLP vs. SPY - Drawdown Comparison
The maximum NFLP drawdown since its inception was -53.43%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for NFLP and SPY.
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Drawdown Indicators
| NFLP | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.43% | -55.19% | +1.76% |
Max Drawdown (1Y)Largest decline over 1 year | -50.83% | -8.88% | -41.95% |
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 DrawdownCurrent decline from peak | -50.38% | -1.40% | -48.98% |
Average DrawdownAverage peak-to-trough decline | -11.91% | -9.01% | -2.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.71% | 2.08% | +25.63% |
Volatility
NFLP vs. SPY - Volatility Comparison
Kurv Yield Premium Strategy Netflix ETF (NFLP) has a higher volatility of 12.10% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that NFLP'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.
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Volatility by Period
| NFLP | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.10% | 3.58% | +8.52% |
Volatility (6M)Calculated over the trailing 6-month period | 30.22% | 10.14% | +20.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.81% | 12.89% | +22.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.69% | 17.18% | +12.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.69% | 17.95% | +11.74% |
NFLP vs. SPY - Expense Ratio Comparison
NFLP has a 0.99% expense ratio, which is higher than SPY's 0.09% expense ratio.
Dividends
NFLP vs. SPY - Dividend Comparison
NFLP's dividend yield for the trailing twelve months is around 28.28%, more than SPY's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NFLP Kurv Yield Premium Strategy Netflix ETF | 28.28% | 26.56% | 19.87% | 3.21% | 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
NFLP and SPY have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFLP has higher volatility (12.10%) compared to SPY (3.58%). In terms of maximum drawdown, NFLP dropped -53.43% vs SPY's -55.19%.
On 1-year performance, SPY leads with 21.49% vs -42.59% for NFLP. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPY has performed better with a 21.49% return vs -42.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPY is cheaper with a 0.09% expense ratio, compared with 0.99% for NFLP.
NFLP has the higher dividend yield at 28.28%, compared with 1.01% for SPY.
NFLP 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: 0.99% for NFLP and 0.09% for SPY.
SPY currently has the higher Sharpe Ratio (1.52 vs -1.20), 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.
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