SPUC vs. SPY
Compare and contrast key facts about Simplify US Equity PLUS Upside Convexity ETF (SPUC) and State Street SPDR S&P 500 ETF (SPY).
SPUC and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPUC is an actively managed fund by Simplify. It was launched on Sep 3, 2020. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
SPUC vs. SPY - Performance Comparison
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SPUC vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPUC Simplify US Equity PLUS Upside Convexity ETF | -4.97% | 22.64% | 25.37% | 27.50% | -24.76% | 33.71% | 9.53% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 10.04% |
Returns By Period
In the year-to-date period, SPUC achieves a -4.97% return, which is significantly lower than SPY's -4.37% return.
SPUC
- 1D
- 3.01%
- 1M
- -4.96%
- YTD
- -4.97%
- 6M
- -5.58%
- 1Y
- 24.78%
- 3Y*
- 20.26%
- 5Y*
- 11.88%
- 10Y*
- —
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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SPUC vs. SPY - Expense Ratio Comparison
SPUC has a 0.29% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
SPUC vs. SPY — Risk / Return Rank
SPUC
SPY
SPUC vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Upside Convexity ETF (SPUC) 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.
| SPUC | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.94 | 0.93 | +0.01 |
Sortino ratioReturn per unit of downside risk | 1.47 | 1.45 | +0.01 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.22 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.60 | 1.53 | +0.08 |
Martin ratioReturn relative to average drawdown | 6.08 | 7.30 | -1.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPUC | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 0.93 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.69 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.56 | +0.08 |
Correlation
The correlation between SPUC and SPY is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SPUC vs. SPY - Dividend Comparison
SPUC's dividend yield for the trailing twelve months is around 8.17%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPUC Simplify US Equity PLUS Upside Convexity ETF | 8.17% | 7.70% | 0.94% | 1.33% | 1.53% | 2.00% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
SPUC vs. SPY - Drawdown Comparison
The maximum SPUC drawdown since its inception was -29.20%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SPUC and SPY.
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Drawdown Indicators
| SPUC | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.20% | -55.19% | +25.99% |
Max Drawdown (1Y)Largest decline over 1 year | -16.09% | -12.05% | -4.04% |
Max Drawdown (5Y)Largest decline over 5 years | -29.20% | -24.50% | -4.70% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -8.90% | -6.24% | -2.66% |
Average DrawdownAverage peak-to-trough decline | -8.70% | -9.09% | +0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.23% | 2.52% | +1.71% |
Volatility
SPUC vs. SPY - Volatility Comparison
Simplify US Equity PLUS Upside Convexity ETF (SPUC) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 5.57% and 5.31%, 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.
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Volatility by Period
| SPUC | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.57% | 5.31% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 13.44% | 9.47% | +3.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.53% | 19.05% | +7.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.05% | 17.06% | +4.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.71% | 17.92% | +3.79% |