SPYM vs. CHAT

Last updated Jun 17, 2026

SPYM (State Street SPDR Portfolio S&P 500 ETF) and CHAT (Roundhill Generative AI & Technology ETF) are both exchange-traded funds - SPYM is a S&P 500 fund tracking the S&P 500 Index, while CHAT is a Technology Equities fund actively managed by Roundhill. SPYM is passively managed, while CHAT is actively managed. Over the past 3 years, SPYM returned 21.01%/yr vs 48.76%/yr for CHAT. Their correlation of 0.81 suggests significant overlap in exposure. SPYM charges 0.02%/yr vs 0.75%/yr for CHAT.

Performance

SPYM vs. CHAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio S&P 500 ETF (SPYM) and Roundhill Generative AI & Technology ETF (CHAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYM achieves a 10.39% return, which is significantly lower than CHAT's 62.28% return.

SPYM

• 1D: -0.56%
• 1M: 1.54%
• YTD: 10.39%
• 6M: 11.20%
• 1Y: 26.02%
• 3Y*: 21.01%
• 5Y*: 13.82%
• 10Y*: 15.66%

CHAT

• 1D: -2.91%
• 1M: 11.92%
• YTD: 62.28%
• 6M: 67.79%
• 1Y: 112.64%
• 3Y*: 48.76%
• 5Y*: —
• 10Y*: —

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

SPYM vs. CHAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPYM State Street SPDR Portfolio S&P 500 ETF	10.39%	17.79%	25.00%	15.83%
CHAT Roundhill Generative AI & Technology ETF	62.28%	49.85%	30.98%	21.04%

Correlation

The correlation between SPYM and CHAT is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (All Time) Calculated using the full available price history since May 18, 2023	0.81

The correlation between SPYM and CHAT has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

SPYM vs. CHAT - Sectors Allocation Comparison

Sectors	SPYM	CHAT
Technology	39.0%	76.9%
Financial Services	11.1%	0.0%
Communication Services	10.6%	16.7%
Consumer Cyclical	9.9%	5.6%
Healthcare	8.3%	-
Industrials	7.8%	0.9%
Consumer Defensive	4.5%	-
Energy	3.1%	-
Utilities	2.1%	-
Real Estate	1.8%	-
Basic Materials	1.7%	-

Return for Risk

SPYM vs. CHAT — Risk / Return Rank

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

SPYM

SPYM Risk / Return Rank: 67
SPYM Sharpe Ratio Rank: 68
SPYM Sortino Ratio Rank: 65
SPYM Omega Ratio Rank: 68
SPYM Calmar Ratio Rank: 60
SPYM Martin Ratio Rank: 73

CHAT

CHAT Risk / Return Rank: 90
CHAT Sharpe Ratio Rank: 94
CHAT Sortino Ratio Rank: 86
CHAT Omega Ratio Rank: 86
CHAT Calmar Ratio Rank: 94
CHAT Martin Ratio Rank: 90

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.

SPYM vs. CHAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 ETF (SPYM) and Roundhill Generative AI & Technology ETF (CHAT). 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.

	SPYM	CHAT	Difference
Sharpe ratio: Return per unit of total volatility	2.13	3.38	-1.25
Sortino ratio: Return per unit of downside risk	2.88	3.64	-0.76
Omega ratio: Gain probability vs. loss probability	1.39	1.50	-0.11
Calmar ratio: Return relative to maximum drawdown	2.94	6.96	-4.02
Martin ratio: Return relative to average drawdown	13.28	19.40	-6.12

SPYM vs. CHAT - Sharpe Ratio Comparison

The current SPYM Sharpe Ratio is 2.13, which is lower than the CHAT Sharpe Ratio of 3.38. The chart below compares the historical Sharpe Ratios of SPYM and CHAT, 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

SPYM vs. CHAT - Drawdown Comparison

The maximum SPYM drawdown since its inception was -54.46%, which is greater than CHAT's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for SPYM and CHAT.

Drawdown Indicators

	SPYM	CHAT	Difference
Max Drawdown Largest peak-to-trough decline	-54.46%	-31.34%	-23.12%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-16.28%	+7.38%
Max Drawdown (3Y) Largest decline over 3 years	-18.72%	-31.34%	+12.62%
Max Drawdown (5Y) Largest decline over 5 years	-24.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.87%	—	—
Current Drawdown Current decline from peak	-1.19%	-7.51%	+6.32%
Average Drawdown Average peak-to-trough decline	-7.14%	-5.39%	-1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	5.83%	-3.86%

Volatility

SPYM vs. CHAT - Volatility Comparison

The current volatility for State Street SPDR Portfolio S&P 500 ETF (SPYM) is 4.47%, while Roundhill Generative AI & Technology ETF (CHAT) has a volatility of 17.07%. This indicates that SPYM experiences smaller price fluctuations and is considered to be less risky than CHAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYM	CHAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	17.07%	-12.60%
Volatility (6M) Calculated over the trailing 6-month period	9.68%	28.29%	-18.61%
Volatility (1Y) Calculated over the trailing 1-year period	12.33%	33.68%	-21.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	30.83%	-13.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	30.83%	-12.79%

SPYM vs. CHAT - Expense Ratio Comparison

SPYM has a 0.02% expense ratio, which is lower than CHAT's 0.75% expense ratio.

Dividends

SPYM vs. CHAT - Dividend Comparison

SPYM's dividend yield for the trailing twelve months is around 1.28%, less than CHAT's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHAT Roundhill Generative AI & Technology ETF	1.76%	2.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPYM State Street SPDR Portfolio S&P 500 ETF	1.28%	1.13%	1.28%	1.44%	1.69%	1.25%	1.54%	1.79%	2.23%	1.75%	1.97%	1.98%

Frequently Asked Questions

Can I hold both SPYM and CHAT in my portfolio?

SPYM and CHAT have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYM or CHAT?

CHAT has higher volatility (17.07%) compared to SPYM (4.47%). In terms of maximum drawdown, SPYM dropped -54.46% vs CHAT's -31.34%.

Which ETF is better, SPYM or CHAT?

On 3-year performance, CHAT leads with 48.76% vs 21.01% for SPYM. On fees, SPYM is cheaper at 0.02% per year. On volatility, SPYM has been the lower-risk option at 4.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYM or CHAT?

Over the 3-year period, CHAT has performed better with a 48.76% return vs 21.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYM or CHAT?

SPYM is cheaper with a 0.02% expense ratio, compared with 0.75% for CHAT.

Which ETF pays a higher dividend yield, SPYM or CHAT?

CHAT has the higher dividend yield at 1.76%, compared with 1.28% for SPYM.

What is the main difference between SPYM and CHAT?

SPYM is categorized as S&P 500, while CHAT is Technology Equities. They also come from different issuers: State Street and Roundhill. Their fees differ too: 0.02% for SPYM and 0.75% for CHAT.

Which has better risk-adjusted returns?

CHAT currently has the higher Sharpe Ratio (3.38 vs 2.13), 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.