SSPY vs. ITOT

Last updated Jun 26, 2026

SSPY (Stratified LargeCap Index ETF) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both Large Cap Blend Equities funds - SSPY tracks the Syntax Stratified LargeCap Index while ITOT tracks the S&P Total Market Index. Both are passively managed. Over the past year, SSPY returned 20.87% vs 22.95% for ITOT. Their correlation of 0.81 suggests significant overlap in exposure. SSPY charges 0.45%/yr vs 0.03%/yr for ITOT.

Performance

SSPY vs. ITOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Stratified LargeCap Index ETF (SSPY) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSPY achieves a 11.26% return, which is significantly higher than ITOT's 8.95% return.

SSPY

• 1D: 0.38%
• 1M: 1.40%
• YTD: 11.26%
• 6M: 10.13%
• 1Y: 20.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ITOT

• 1D: 0.08%
• 1M: -1.51%
• YTD: 8.95%
• 6M: 7.49%
• 1Y: 22.95%
• 3Y*: 20.80%
• 5Y*: 11.85%
• 10Y*: 15.35%

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

SSPY vs. ITOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SSPY Stratified LargeCap Index ETF	11.26%	12.88%	-0.90%
ITOT iShares Core S&P Total U.S. Stock Market ETF	8.95%	17.00%	3.13%

Correlation

The correlation between SSPY and ITOT is 0.75, 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	0.75
Correlation (All Time) Calculated using the full available price history since Sep 30, 2024	0.81

The correlation between SSPY and ITOT has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.

SSPY vs. ITOT - Sectors Allocation Comparison

Sectors	SSPY	ITOT
Technology	20.2%	37.2%
Consumer Cyclical	12.8%	9.8%
Healthcare	11.9%	8.8%
Consumer Defensive	11.7%	4.3%
Industrials	10.2%	9.1%
Financial Services	10.0%	11.4%
Communication Services	6.0%	9.8%
Energy	5.8%	3.3%
Utilities	5.6%	2.1%
Real Estate	3.4%	2.3%
Basic Materials	2.5%	2.0%

Return for Risk

SSPY vs. ITOT — Risk / Return Rank

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

SSPY

SSPY Risk / Return Rank: 68
SSPY Sharpe Ratio Rank: 69
SSPY Sortino Ratio Rank: 73
SSPY Omega Ratio Rank: 66
SSPY Calmar Ratio Rank: 66
SSPY Martin Ratio Rank: 68

ITOT

ITOT Risk / Return Rank: 64
ITOT Sharpe Ratio Rank: 63
ITOT Sortino Ratio Rank: 61
ITOT Omega Ratio Rank: 62
ITOT Calmar Ratio Rank: 61
ITOT Martin Ratio Rank: 71

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.

SSPY vs. ITOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Stratified LargeCap Index ETF (SSPY) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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.

	SSPY	ITOT	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.81	+0.15
Sortino ratio: Return per unit of downside risk	2.84	2.47	+0.38
Omega ratio: Gain probability vs. loss probability	1.35	1.32	+0.02
Calmar ratio: Return relative to maximum drawdown	2.86	2.59	+0.27
Martin ratio: Return relative to average drawdown	10.94	11.40	-0.46

SSPY vs. ITOT - Sharpe Ratio Comparison

The current SSPY Sharpe Ratio is 1.95, which is comparable to the ITOT Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of SSPY and ITOT, 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

SSPY vs. ITOT - Drawdown Comparison

The maximum SSPY drawdown since its inception was -16.16%, smaller than the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for SSPY and ITOT.

Drawdown Indicators

	SSPY	ITOT	Difference
Max Drawdown Largest peak-to-trough decline	-16.16%	-55.20%	+39.04%
Max Drawdown (1Y) Largest decline over 1 year	-7.32%	-8.90%	+1.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.44%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.00%	—
Current Drawdown Current decline from peak	-0.49%	-2.78%	+2.29%
Average Drawdown Average peak-to-trough decline	-2.26%	-6.96%	+4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	2.02%	-0.11%

Volatility

SSPY vs. ITOT - Volatility Comparison

The current volatility for Stratified LargeCap Index ETF (SSPY) is 3.07%, while iShares Core S&P Total U.S. Stock Market ETF (ITOT) has a volatility of 4.87%. This indicates that SSPY experiences smaller price fluctuations and is considered to be less risky than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSPY	ITOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.07%	4.87%	-1.80%
Volatility (6M) Calculated over the trailing 6-month period	7.91%	10.00%	-2.09%
Volatility (1Y) Calculated over the trailing 1-year period	10.76%	12.77%	-2.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.46%	17.46%	-3.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.46%	18.27%	-3.81%

SSPY vs. ITOT - Expense Ratio Comparison

SSPY has a 0.45% expense ratio, which is higher than ITOT's 0.03% expense ratio.

Dividends

SSPY vs. ITOT - Dividend Comparison

SSPY's dividend yield for the trailing twelve months is around 1.24%, more than ITOT's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITOT iShares Core S&P Total U.S. Stock Market ETF	1.02%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%
SSPY Stratified LargeCap Index ETF	1.24%	1.38%	0.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SSPY and ITOT in my portfolio?

SSPY and ITOT have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSPY or ITOT?

ITOT has higher volatility (4.87%) compared to SSPY (3.07%). In terms of maximum drawdown, SSPY dropped -16.16% vs ITOT's -55.20%.

Which ETF is better, SSPY or ITOT?

On 1-year performance, ITOT leads with 22.95% vs 20.87% for SSPY. On fees, ITOT is cheaper at 0.03% per year. On volatility, SSPY has been the lower-risk option at 3.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SSPY or ITOT?

Over the 1-year period, ITOT has performed better with a 22.95% return vs 20.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SSPY or ITOT?

ITOT is cheaper with a 0.03% expense ratio, compared with 0.45% for SSPY.

Which ETF pays a higher dividend yield, SSPY or ITOT?

SSPY has the higher dividend yield at 1.24%, compared with 1.02% for ITOT.

What is the main difference between SSPY and ITOT?

SSPY tracks Syntax Stratified LargeCap Index, while ITOT tracks S&P Total Market Index. They also come from different issuers: Exchange Traded Concepts and iShares. Their fees differ too: 0.45% for SSPY and 0.03% for ITOT.

Which has better risk-adjusted returns?

SSPY currently has the higher Sharpe Ratio (1.95 vs 1.80), 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.