SPYY.L vs. AVGI.L

Last updated Jun 26, 2026

SPYY.L (IncomeShares S&P500 Options (0DTE) ETP) and AVGI.L (IncomeShares Broadcom (AVGO) Options ETP) are both Derivative Income funds from Leverage Shares. Both are actively managed. At a 0.43 correlation, their price movements are largely independent. SPYY.L charges 0.45%/yr vs 0.55%/yr for AVGI.L.

Performance

SPYY.L vs. AVGI.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IncomeShares S&P500 Options (0DTE) ETP (SPYY.L) and IncomeShares Broadcom (AVGO) Options ETP (AVGI.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYY.L achieves a -5.84% return, which is significantly lower than AVGI.L's 9.83% return.

SPYY.L

• 1D: 0.00%
• 1M: -2.05%
• YTD: -5.84%
• 6M: -5.76%
• 1Y: 9.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVGI.L

• 1D: 0.00%
• 1M: -7.75%
• YTD: 9.83%
• 6M: 10.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPYY.L vs. AVGI.L - Yearly Performance Comparison

	2026 (YTD)	2025
SPYY.L IncomeShares S&P500 Options (0DTE) ETP	-5.84%	14.94%
AVGI.L IncomeShares Broadcom (AVGO) Options ETP	9.83%	11,438.21%

Correlation

The correlation between SPYY.L and AVGI.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 7, 2025	0.43

Return for Risk

SPYY.L vs. AVGI.L — Risk / Return Rank

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

SPYY.L

SPYY.L Risk / Return Rank: 21
SPYY.L Sharpe Ratio Rank: 24
SPYY.L Sortino Ratio Rank: 21
SPYY.L Omega Ratio Rank: 26
SPYY.L Calmar Ratio Rank: 17
SPYY.L Martin Ratio Rank: 19

AVGI.L

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SPYY.L vs. AVGI.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IncomeShares S&P500 Options (0DTE) ETP (SPYY.L) and IncomeShares Broadcom (AVGO) Options ETP (AVGI.L). 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.

	SPYY.L	AVGI.L	Difference
Sharpe ratio: Return per unit of total volatility	0.79	—	—
Sortino ratio: Return per unit of downside risk	1.11	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	0.65	—	—
Martin ratio: Return relative to average drawdown	1.98	—	—

Drawdowns

SPYY.L vs. AVGI.L - Drawdown Comparison

The maximum SPYY.L drawdown since its inception was -17.71%, smaller than the maximum AVGI.L drawdown of -43.06%. Use the drawdown chart below to compare losses from any high point for SPYY.L and AVGI.L.

Drawdown Indicators

	SPYY.L	AVGI.L	Difference
Max Drawdown Largest peak-to-trough decline	-17.71%	-43.06%	+25.35%
Max Drawdown (1Y) Largest decline over 1 year	-14.91%	—	—
Current Drawdown Current decline from peak	-6.87%	-28.20%	+21.33%
Average Drawdown Average peak-to-trough decline	-4.66%	-22.16%	+17.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.92%	—	—

Volatility

Volatility by Period

	SPYY.L	AVGI.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.33%	10,070.47%	-10,058.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.11%	10,070.47%	-10,056.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.11%	10,070.47%	-10,056.36%

SPYY.L vs. AVGI.L - Expense Ratio Comparison

SPYY.L has a 0.45% expense ratio, which is lower than AVGI.L's 0.55% expense ratio.

Dividends

SPYY.L vs. AVGI.L - Dividend Comparison

SPYY.L's dividend yield for the trailing twelve months is around 39.46%, less than AVGI.L's 48.40% yield.

Position	TTM	2025	2024
AVGI.L IncomeShares Broadcom (AVGO) Options ETP	48.40%	10.33%	0.00%
SPYY.L IncomeShares S&P500 Options (0DTE) ETP	39.46%	85.69%	2.84%

Frequently Asked Questions

Can I hold both SPYY.L and AVGI.L in my portfolio?

SPYY.L and AVGI.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPYY.L or AVGI.L?

On fees, SPYY.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPYY.L or AVGI.L?

SPYY.L is cheaper with a 0.45% expense ratio, compared with 0.55% for AVGI.L.

What is the main difference between SPYY.L and AVGI.L?

Their fees differ too: 0.45% for SPYY.L and 0.55% for AVGI.L.