SPIN vs. FTQI

Last updated Jul 17, 2026

SPIN (State Street US Equity Premium Income ETF) and FTQI (First Trust Nasdaq BuyWrite Income ETF) are both exchange-traded funds - SPIN is a Derivative Income fund actively managed by State Street, while FTQI is a Nasdaq-100 fund tracking the NASDAQ-100 Index. SPIN is actively managed, while FTQI is passively managed. Over the past year, SPIN returned 15.31% vs 26.34% for FTQI. Their correlation of 0.87 suggests significant overlap in exposure. SPIN charges 0.25%/yr vs 0.75%/yr for FTQI.

Performance

SPIN vs. FTQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street US Equity Premium Income ETF (SPIN) and First Trust Nasdaq BuyWrite Income ETF (FTQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPIN achieves a 3.79% return, which is significantly lower than FTQI's 12.76% return.

SPIN

• 1D: -0.35%
• 1M: 1.37%
• 6M: 2.39%
• YTD: 3.79%
• 1Y: 15.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FTQI

• 1D: -0.72%
• 1M: 1.28%
• 6M: 11.68%
• YTD: 12.76%
• 1Y: 26.34%
• 3Y*: 16.62%
• 5Y*: 12.26%
• 10Y*: 7.85%

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

SPIN vs. FTQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPIN State Street US Equity Premium Income ETF	3.79%	14.14%	6.47%
FTQI First Trust Nasdaq BuyWrite Income ETF	12.76%	12.68%	8.80%

Correlation

The correlation between SPIN and FTQI is 0.86, 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	0.86
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.87

The correlation between SPIN and FTQI has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.

SPIN vs. FTQI - Sectors Allocation Comparison

Sectors	SPIN	FTQI
Technology	39.6%	49.4%
Communication Services	11.9%	11.8%
Financial Services	11.3%	5.5%
Consumer Cyclical	8.6%	10.5%
Healthcare	8.3%	6.0%
Industrials	8.1%	4.1%
Consumer Defensive	3.6%	6.2%
Energy	2.7%	2.3%
Basic Materials	2.3%	1.4%
Utilities	2.2%	1.5%
Real Estate	1.5%	1.3%

Return for Risk

SPIN vs. FTQI — Risk / Return Rank

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

SPIN

SPIN Risk / Return Rank: 46
SPIN Sharpe Ratio Rank: 48
SPIN Sortino Ratio Rank: 46
SPIN Omega Ratio Rank: 49
SPIN Calmar Ratio Rank: 37
SPIN Martin Ratio Rank: 48

FTQI

FTQI Risk / Return Rank: 91
FTQI Sharpe Ratio Rank: 90
FTQI Sortino Ratio Rank: 89
FTQI Omega Ratio Rank: 90
FTQI Calmar Ratio Rank: 89
FTQI Martin Ratio Rank: 94

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.

SPIN vs. FTQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street US Equity Premium Income ETF (SPIN) and First Trust Nasdaq BuyWrite Income ETF (FTQI). 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.

	SPIN	FTQI	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.43	-1.07
Sortino ratio: Return per unit of downside risk	1.90	3.37	-1.47
Omega ratio: Gain probability vs. loss probability	1.25	1.45	-0.20
Calmar ratio: Return relative to maximum drawdown	1.57	4.24	-2.67
Martin ratio: Return relative to average drawdown	6.33	20.07	-13.74

SPIN vs. FTQI - Sharpe Ratio Comparison

The current SPIN Sharpe Ratio is 1.37, which is lower than the FTQI Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of SPIN and FTQI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPIN vs. FTQI - Drawdown Comparison

The maximum SPIN drawdown since its inception was -16.85%, smaller than the maximum FTQI drawdown of -19.42%. Use the drawdown chart below to compare losses from any high point for SPIN and FTQI.

Drawdown Indicators

	SPIN	FTQI	Difference
Max Drawdown Largest peak-to-trough decline	-16.85%	-19.42%	+2.57%
Max Drawdown (1Y) Largest decline over 1 year	-9.81%	-6.24%	-3.57%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.42%	—
Current Drawdown Current decline from peak	-0.35%	-0.85%	+0.50%
Average Drawdown Average peak-to-trough decline	-2.23%	-3.73%	+1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	1.32%	+1.10%

Volatility

SPIN vs. FTQI - Volatility Comparison

State Street US Equity Premium Income ETF (SPIN) and First Trust Nasdaq BuyWrite Income ETF (FTQI) have volatilities of 2.94% and 2.92%, 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

	SPIN	FTQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	2.92%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	8.80%	8.83%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	11.26%	10.87%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.25%	14.82%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.25%	12.98%	+1.27%

SPIN vs. FTQI - Expense Ratio Comparison

SPIN has a 0.25% expense ratio, which is lower than FTQI's 0.75% expense ratio.

Dividends

SPIN vs. FTQI - Dividend Comparison

SPIN's dividend yield for the trailing twelve months is around 5.12%, less than FTQI's 10.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTQI First Trust Nasdaq BuyWrite Income ETF	10.92%	11.46%	11.66%	11.49%	9.85%	3.05%	3.27%	2.95%	3.27%	2.74%	3.02%	3.54%
SPIN State Street US Equity Premium Income ETF	5.12%	8.20%	2.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPIN and FTQI in my portfolio?

SPIN and FTQI have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPIN or FTQI?

SPIN has higher volatility (2.94%) compared to FTQI (2.92%). In terms of maximum drawdown, SPIN dropped -16.85% vs FTQI's -19.42%.

Which ETF is better, SPIN or FTQI?

On 1-year performance, FTQI leads with 26.34% vs 15.31% for SPIN. On fees, SPIN is cheaper at 0.25% 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, SPIN or FTQI?

Over the 1-year period, FTQI has performed better with a 26.34% return vs 15.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPIN or FTQI?

SPIN is cheaper with a 0.25% expense ratio, compared with 0.75% for FTQI.

Which ETF pays a higher dividend yield, SPIN or FTQI?

FTQI has the higher dividend yield at 10.92%, compared with 5.12% for SPIN.

What is the main difference between SPIN and FTQI?

SPIN is categorized as Derivative Income, while FTQI is Nasdaq-100. They also come from different issuers: State Street and First Trust. Their fees differ too: 0.25% for SPIN and 0.75% for FTQI.

Which has better risk-adjusted returns?

FTQI currently has the higher Sharpe Ratio (2.43 vs 1.37), 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.