SPYG vs. CONY
SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) and CONY (YieldMax COIN Option Income Strategy ETF) are both exchange-traded funds - SPYG is a S&P 500 fund tracking the S&P 500 Growth Index, while CONY is a Derivative Income fund actively managed by YieldMax. SPYG is passively managed, while CONY is actively managed. Over the past year, SPYG returned 29.17% vs -40.52% for CONY. A 0.54 correlation means they provide meaningful diversification when combined. SPYG charges 0.04%/yr vs 0.99%/yr for CONY.
Performance
SPYG vs. CONY - Performance Comparison
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Returns By Period
In the year-to-date period, SPYG achieves a 9.70% return, which is significantly higher than CONY's -26.18% return.
SPYG
- 1D
- 0.41%
- 1M
- -1.24%
- YTD
- 9.70%
- 6M
- 10.60%
- 1Y
- 29.17%
- 3Y*
- 25.85%
- 5Y*
- 14.92%
- 10Y*
- 17.91%
CONY
- 1D
- -0.24%
- 1M
- -15.05%
- YTD
- -26.18%
- 6M
- -35.63%
- 1Y
- -40.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYG vs. CONY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 9.70% | 22.09% | 35.99% | 6.54% |
CONY YieldMax COIN Option Income Strategy ETF | -26.18% | -26.34% | 23.62% | 76.18% |
Correlation
The correlation between SPYG and CONY is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2023 | 0.54 |
The correlation between SPYG and CONY has been stable across timeframes, ranging from 0.54 to 0.56 - a consistent structural relationship.
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Return for Risk
SPYG vs. CONY — Risk / Return Rank
SPYG
CONY
SPYG vs. CONY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) and YieldMax COIN Option Income Strategy ETF (CONY). 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.
| SPYG | CONY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.34 | ||
| Sortino ratioReturn per unit of downside risk | +3.07 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.90 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | -0.64 | +2.65 |
| Martin ratioReturn relative to average drawdown | 8.08 | -1.04 | +9.12 |
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Drawdowns
SPYG vs. CONY - Drawdown Comparison
The maximum SPYG drawdown since its inception was -67.63%, which is greater than CONY's maximum drawdown of -63.57%. Use the drawdown chart below to compare losses from any high point for SPYG and CONY.
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Drawdown Indicators
| SPYG | CONY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.63% | -63.57% | -4.06% |
Max Drawdown (1Y)Largest decline over 1 year | -13.76% | -63.39% | +49.63% |
Max Drawdown (3Y)Largest decline over 3 years | -22.14% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -32.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.67% | — | — |
Current DrawdownCurrent decline from peak | -4.65% | -58.18% | +53.53% |
Average DrawdownAverage peak-to-trough decline | -24.30% | -22.54% | -1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 38.91% | -35.49% |
Volatility
SPYG vs. CONY - Volatility Comparison
The current volatility for State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) is 6.33%, while YieldMax COIN Option Income Strategy ETF (CONY) has a volatility of 16.52%. This indicates that SPYG experiences smaller price fluctuations and is considered to be less risky than CONY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYG | CONY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.33% | 16.52% | -10.19% |
Volatility (6M)Calculated over the trailing 6-month period | 13.48% | 44.47% | -30.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.81% | 58.75% | -41.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.27% | 60.03% | -38.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.70% | 60.03% | -39.33% |
SPYG vs. CONY - Expense Ratio Comparison
SPYG has a 0.04% expense ratio, which is lower than CONY's 0.99% expense ratio.
Dividends
SPYG vs. CONY - Dividend Comparison
SPYG's dividend yield for the trailing twelve months is around 0.48%, less than CONY's 199.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CONY YieldMax COIN Option Income Strategy ETF | 199.22% | 192.07% | 155.66% | 16.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 0.48% | 0.52% | 0.60% | 1.15% | 1.03% | 0.62% | 0.90% | 1.37% | 1.51% | 1.41% | 1.55% | 1.57% |
Frequently Asked Questions
SPYG and CONY have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CONY has higher volatility (16.52%) compared to SPYG (6.33%). In terms of maximum drawdown, SPYG dropped -67.63% vs CONY's -63.57%.
On 1-year performance, SPYG leads with 29.17% vs -40.52% for CONY. On fees, SPYG is cheaper at 0.04% per year. On volatility, SPYG has been the lower-risk option at 6.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPYG has performed better with a 29.17% return vs -40.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYG is cheaper with a 0.04% expense ratio, compared with 0.99% for CONY.
CONY has the higher dividend yield at 199.22%, compared with 0.48% for SPYG.
SPYG is categorized as S&P 500, while CONY is Derivative Income. They also come from different issuers: State Street and YieldMax. Their fees differ too: 0.04% for SPYG and 0.99% for CONY.
SPYG currently has the higher Sharpe Ratio (1.65 vs -0.69), 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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