SPYA vs. TRIO

Last updated Jun 24, 2026

SPYA (Twin Oak Endure ETF) and TRIO (MC Trio Equity Buffered ETF) are both Equity Hedged funds. Both are actively managed. Over the past year, SPYA returned 16.21% vs 13.43% for TRIO. Their correlation of 0.89 suggests significant overlap in exposure. SPYA charges 0.49%/yr vs 0.70%/yr for TRIO.

Performance

SPYA vs. TRIO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Twin Oak Endure ETF (SPYA) and MC Trio Equity Buffered ETF (TRIO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYA achieves a 5.36% return, which is significantly higher than TRIO's 5.09% return.

SPYA

• 1D: -1.22%
• 1M: -1.58%
• YTD: 5.36%
• 6M: 4.44%
• 1Y: 16.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TRIO

• 1D: -0.68%
• 1M: 0.04%
• YTD: 5.09%
• 6M: 4.67%
• 1Y: 13.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPYA vs. TRIO - Yearly Performance Comparison

	2026 (YTD)	2025
SPYA Twin Oak Endure ETF	5.36%	12.65%
TRIO MC Trio Equity Buffered ETF	5.09%	9.17%

Correlation

The correlation between SPYA and TRIO is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Jun 3, 2025	0.89

The correlation between SPYA and TRIO has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

Return for Risk

SPYA vs. TRIO — Risk / Return Rank

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

SPYA

SPYA Risk / Return Rank: 41
SPYA Sharpe Ratio Rank: 43
SPYA Sortino Ratio Rank: 41
SPYA Omega Ratio Rank: 41
SPYA Calmar Ratio Rank: 37
SPYA Martin Ratio Rank: 44

TRIO

TRIO Risk / Return Rank: 77
TRIO Sharpe Ratio Rank: 76
TRIO Sortino Ratio Rank: 79
TRIO Omega Ratio Rank: 80
TRIO Calmar Ratio Rank: 67
TRIO Martin Ratio Rank: 82

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.

SPYA vs. TRIO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Twin Oak Endure ETF (SPYA) and MC Trio Equity Buffered ETF (TRIO). 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.

	SPYA	TRIO	Difference
Sharpe ratio: Return per unit of total volatility	1.38	2.17	-0.79
Sortino ratio: Return per unit of downside risk	1.93	3.17	-1.23
Omega ratio: Gain probability vs. loss probability	1.24	1.43	-0.18
Calmar ratio: Return relative to maximum drawdown	1.71	3.02	-1.31
Martin ratio: Return relative to average drawdown	6.57	15.06	-8.49

SPYA vs. TRIO - Sharpe Ratio Comparison

The current SPYA Sharpe Ratio is 1.38, which is lower than the TRIO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of SPYA and TRIO, 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

SPYA vs. TRIO - Drawdown Comparison

The maximum SPYA drawdown since its inception was -9.51%, roughly equal to the maximum TRIO drawdown of -9.88%. Use the drawdown chart below to compare losses from any high point for SPYA and TRIO.

Drawdown Indicators

	SPYA	TRIO	Difference
Max Drawdown Largest peak-to-trough decline	-9.51%	-9.88%	+0.37%
Max Drawdown (1Y) Largest decline over 1 year	-9.51%	-4.47%	-5.04%
Current Drawdown Current decline from peak	-3.13%	-0.78%	-2.35%
Average Drawdown Average peak-to-trough decline	-1.48%	-0.78%	-0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.47%	0.89%	+1.58%

Volatility

SPYA vs. TRIO - Volatility Comparison

Twin Oak Endure ETF (SPYA) has a higher volatility of 4.49% compared to MC Trio Equity Buffered ETF (TRIO) at 1.77%. This indicates that SPYA's price experiences larger fluctuations and is considered to be riskier than TRIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYA	TRIO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	1.77%	+2.72%
Volatility (6M) Calculated over the trailing 6-month period	9.29%	5.00%	+4.29%
Volatility (1Y) Calculated over the trailing 1-year period	11.82%	6.24%	+5.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.64%	10.58%	+1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.64%	10.58%	+1.06%

SPYA vs. TRIO - Expense Ratio Comparison

SPYA has a 0.49% expense ratio, which is lower than TRIO's 0.70% expense ratio.

Dividends

SPYA vs. TRIO - Dividend Comparison

SPYA's dividend yield for the trailing twelve months is around 0.36%, less than TRIO's 8.57% yield.

Position	TTM	2025
SPYA Twin Oak Endure ETF	0.36%	0.37%
TRIO MC Trio Equity Buffered ETF	8.57%	9.01%

Frequently Asked Questions

Can I hold both SPYA and TRIO in my portfolio?

With a correlation of 0.91, SPYA and TRIO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SPYA or TRIO?

SPYA has higher volatility (4.49%) compared to TRIO (1.77%). In terms of maximum drawdown, SPYA dropped -9.51% vs TRIO's -9.88%.

Which ETF is better, SPYA or TRIO?

On 1-year performance, SPYA leads with 16.21% vs 13.43% for TRIO. On fees, SPYA is cheaper at 0.49% per year. On volatility, TRIO has been the lower-risk option at 1.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYA or TRIO?

Over the 1-year period, SPYA has performed better with a 16.21% return vs 13.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYA or TRIO?

SPYA is cheaper with a 0.49% expense ratio, compared with 0.70% for TRIO.

Which ETF pays a higher dividend yield, SPYA or TRIO?

TRIO has the higher dividend yield at 8.57%, compared with 0.36% for SPYA.

What is the main difference between SPYA and TRIO?

They also come from different issuers: Twin Oak and ETF Architect. Their fees differ too: 0.49% for SPYA and 0.70% for TRIO.

Which has better risk-adjusted returns?

TRIO currently has the higher Sharpe Ratio (2.17 vs 1.38), 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.