SPRE vs. SPY

Last updated Jun 24, 2026

SPRE (SP Funds S&P Global REIT Sharia ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - SPRE is a REIT fund tracking the S&P Global All Equity REIT Shariah Capped Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, SPRE returned 2.01%/yr vs 13.05%/yr for SPY. A 0.58 correlation means they provide meaningful diversification when combined. SPRE charges 0.69%/yr vs 0.09%/yr for SPY.

Performance

SPRE vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SP Funds S&P Global REIT Sharia ETF (SPRE) 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, SPRE achieves a 10.84% return, which is significantly higher than SPY's 8.15% return.

SPRE

• 1D: 0.52%
• 1M: 1.22%
• YTD: 10.84%
• 6M: 10.47%
• 1Y: 12.65%
• 3Y*: 8.51%
• 5Y*: 2.01%
• 10Y*: —

SPY

• 1D: -1.45%
• 1M: -1.36%
• YTD: 8.15%
• 6M: 7.20%
• 1Y: 23.59%
• 3Y*: 20.68%
• 5Y*: 13.05%
• 10Y*: 15.53%

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

SPRE vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SPRE SP Funds S&P Global REIT Sharia ETF	10.84%	3.07%	2.11%	9.40%	-29.48%	44.78%	-0.17%
SPY State Street SPDR S&P 500 ETF	8.15%	17.72%	24.89%	26.18%	-18.18%	28.73%	0.65%

Correlation

The correlation between SPRE and SPY is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since Dec 30, 2020	0.58

Over the past year, the correlation between SPRE and SPY has dropped to 0.36 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

SPRE vs. SPY - Sectors Allocation Comparison

Sectors	SPRE	SPY
Real Estate	84.6%	1.8%
Basic Materials	5.2%	1.7%
Utilities	0.4%	2.1%
Consumer Cyclical	-	9.9%
Consumer Defensive	-	4.5%
Energy	-	3.1%
Healthcare	-	8.3%
Industrials	-	7.8%
Technology	-	39.0%
Financial Services	-0.0%	11.1%
Communication Services	-0.2%	10.6%

Return for Risk

SPRE vs. SPY — Risk / Return Rank

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

SPRE

SPRE Risk / Return Rank: 27
SPRE Sharpe Ratio Rank: 27
SPRE Sortino Ratio Rank: 25
SPRE Omega Ratio Rank: 25
SPRE Calmar Ratio Rank: 28
SPRE Martin Ratio Rank: 32

SPY

SPY Risk / Return Rank: 59
SPY Sharpe Ratio Rank: 58
SPY Sortino Ratio Rank: 56
SPY Omega Ratio Rank: 57
SPY Calmar Ratio Rank: 56
SPY Martin Ratio Rank: 67

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.

SPRE vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SP Funds S&P Global REIT Sharia ETF (SPRE) 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.

	SPRE	SPY	Difference
Sharpe ratio: Return per unit of total volatility	0.94	1.90	-0.96
Sortino ratio: Return per unit of downside risk	1.36	2.58	-1.23
Omega ratio: Gain probability vs. loss probability	1.17	1.34	-0.18
Calmar ratio: Return relative to maximum drawdown	1.32	2.67	-1.35
Martin ratio: Return relative to average drawdown	4.56	11.92	-7.36

SPRE vs. SPY - Sharpe Ratio Comparison

The current SPRE Sharpe Ratio is 0.94, which is lower than the SPY Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of SPRE 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.

Drawdowns

SPRE vs. SPY - Drawdown Comparison

The maximum SPRE drawdown since its inception was -38.34%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SPRE and SPY.

Drawdown Indicators

	SPRE	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-38.34%	-55.19%	+16.85%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	-8.88%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	-22.04%	-18.76%	-3.28%
Max Drawdown (5Y) Largest decline over 5 years	-38.34%	-24.50%	-13.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-10.02%	-3.17%	-6.85%
Average Drawdown Average peak-to-trough decline	-17.84%	-9.04%	-8.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	1.98%	+0.80%

Volatility

SPRE vs. SPY - Volatility Comparison

SP Funds S&P Global REIT Sharia ETF (SPRE) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 4.67% and 4.87%, 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

	SPRE	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	4.87%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	10.17%	9.85%	+0.32%
Volatility (1Y) Calculated over the trailing 1-year period	13.62%	12.50%	+1.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.78%	17.15%	+1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.39%	17.95%	+0.44%

SPRE vs. SPY - Expense Ratio Comparison

SPRE has a 0.69% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

SPRE vs. SPY - Dividend Comparison

SPRE's dividend yield for the trailing twelve months is around 3.76%, more than SPY's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPRE SP Funds S&P Global REIT Sharia ETF	3.76%	4.10%	4.13%	4.16%	4.17%	2.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.03%	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 SPRE and SPY in my portfolio?

SPRE and SPY have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPRE or SPY?

SPY has higher volatility (4.87%) compared to SPRE (4.67%). In terms of maximum drawdown, SPRE dropped -38.34% vs SPY's -55.19%.

Which ETF is better, SPRE or SPY?

On 5-year performance, SPY leads with 13.05% vs 2.01% for SPRE. On fees, SPY is cheaper at 0.09% per year. On volatility, SPRE has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPRE or SPY?

Over the 5-year period, SPY has performed better with a 13.05% return vs 2.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPRE or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.69% for SPRE.

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

SPRE has the higher dividend yield at 3.76%, compared with 1.03% for SPY.

What is the main difference between SPRE and SPY?

SPRE is categorized as REIT, while SPY is S&P 500. SPRE tracks S&P Global All Equity REIT Shariah Capped Index, while SPY tracks S&P 500 Index. They also come from different issuers: Toroso Investments and State Street. Their fees differ too: 0.69% for SPRE and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.90 vs 0.94), 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.