SPYY.L vs. RUB=X

Last updated Jul 16, 2026

SPYY.L (IncomeShares S&P500 Options (0DTE) ETP) is Derivative Income fund actively managed by Leverage Shares, while RUB=X (USD/RUB) is a currency. Over the past year, SPYY.L returned 9.11% vs -0.31% for RUB=X. At a correlation of -0.01, they often move in opposite directions.

Performance

SPYY.L vs. RUB=X - Performance Comparison

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

Different Trading Currencies

SPYY.L is traded in USD, while RUB=X is traded in RUB. To make them comparable, the RUB=X values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPYY.L achieves a -4.08% return, which is significantly lower than RUB=X's -0.42% return.

SPYY.L

• 1D: 0.00%
• 1M: -0.04%
• 6M: -4.35%
• YTD: -4.08%
• 1Y: 9.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RUB=X

• 1D: -0.30%
• 1M: -0.32%
• 6M: -0.30%
• YTD: -0.42%
• 1Y: -0.31%
• 3Y*: -0.08%
• 5Y*: -0.06%
• 10Y*: 0.02%

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

SPYY.L vs. RUB=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPYY.L IncomeShares S&P500 Options (0DTE) ETP	-4.08%	19.98%	-5.55%
RUB=X USD/RUB	-0.42%	0.26%	-0.10%

Correlation

The correlation between SPYY.L and RUB=X is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Sep 2, 2024	-0.01

Return for Risk

SPYY.L vs. RUB=X — 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: 22
SPYY.L Sharpe Ratio Rank: 24
SPYY.L Sortino Ratio Rank: 22
SPYY.L Omega Ratio Rank: 26
SPYY.L Calmar Ratio Rank: 18
SPYY.L Martin Ratio Rank: 19

RUB=X

RUB=X Risk / Return Rank: 44
RUB=X Sharpe Ratio Rank: 43
RUB=X Sortino Ratio Rank: 45
RUB=X Omega Ratio Rank: 45
RUB=X Calmar Ratio Rank: 43
RUB=X Martin Ratio Rank: 43

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. RUB=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IncomeShares S&P500 Options (0DTE) ETP (SPYY.L) and USD/RUB (RUB=X). 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	RUB=X	Difference
Sharpe ratio: Return per unit of total volatility	0.73	-0.03	+0.76
Sortino ratio: Return per unit of downside risk	1.04	0.02	+1.01
Omega ratio: Gain probability vs. loss probability	1.15	1.00	+0.15
Calmar ratio: Return relative to maximum drawdown	0.61	-0.06	+0.67
Martin ratio: Return relative to average drawdown	1.78	-0.13	+1.92

SPYY.L vs. RUB=X - Sharpe Ratio Comparison

The current SPYY.L Sharpe Ratio is 0.73, which is higher than the RUB=X Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of SPYY.L and RUB=X, 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

SPYY.L vs. RUB=X - Drawdown Comparison

The maximum SPYY.L drawdown since its inception was -17.71%, smaller than the maximum RUB=X drawdown of -41.64%. Use the drawdown chart below to compare losses from any high point for SPYY.L and RUB=X.

Drawdown Indicators

	SPYY.L	RUB=X	Difference
Max Drawdown Largest peak-to-trough decline	-17.71%	-41.64%	+23.93%
Max Drawdown (1Y) Largest decline over 1 year	-14.91%	-3.85%	-11.06%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-41.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.64%	—
Current Drawdown Current decline from peak	-5.13%	-39.19%	+34.06%
Average Drawdown Average peak-to-trough decline	-4.69%	-11.18%	+6.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.10%	1.35%	+3.75%

Volatility

SPYY.L vs. RUB=X - Volatility Comparison

IncomeShares S&P500 Options (0DTE) ETP (SPYY.L) has a higher volatility of 2.55% compared to USD/RUB (RUB=X) at 1.02%. This indicates that SPYY.L's price experiences larger fluctuations and is considered to be riskier than RUB=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYY.L	RUB=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	1.02%	+1.53%
Volatility (6M) Calculated over the trailing 6-month period	10.16%	4.88%	+5.28%
Volatility (1Y) Calculated over the trailing 1-year period	12.40%	8.94%	+3.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.96%	35.61%	-21.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.96%	25.60%	-11.64%

Frequently Asked Questions

Can I hold both SPYY.L and RUB=X in my portfolio?

SPYY.L and RUB=X have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.