SUPL vs. SPY

Last updated Aug 2, 2026

SUPL (ProShares Supply Chain Logistics ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - SUPL is a Industrials Equities fund tracking the FactSet Supply Chain Logistics Index - Benchmark TR Net, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 3 years, SUPL returned 8.11%/yr vs 19.32%/yr for SPY. Their 0.69 correlation means they have sometimes moved together and sometimes differently. SUPL charges 0.58%/yr vs 0.09%/yr for SPY.

Performance

SUPL vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Supply Chain Logistics ETF (SUPL) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SUPL achieves a 17.34% return, which is significantly higher than SPY's 10.13% return.

SUPL

• 1D: 0.03%
• 1M: -0.11%
• 6M: 12.59%
• YTD: 17.34%
• 1Y: 28.91%
• 3Y*: 8.11%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.69%

SPY

• 1D: 0.72%
• 1M: 0.30%
• 6M: 8.53%
• YTD: 10.13%
• 1Y: 21.49%
• 3Y*: 19.32%
• 5Y*: 12.76%
• 10Y*: 15.07%
• ALL TIME*: 10.79%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SPY State Street SPDR S&P 500 ETF	$37.27B	$35.99B	$39.23B
SUPL ProShares Supply Chain Logistics ETF	$76.25K	$64.52K	$42.91K

SUPL vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SUPL ProShares Supply Chain Logistics ETF	17.34%	9.25%	-2.44%	23.69%	-11.01%
SPY State Street SPDR S&P 500 ETF	10.13%	17.72%	24.89%	26.18%	-13.23%

Correlation

The correlation between SUPL and SPY is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.51
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (All Time) Calculated using the full available price history since Apr 7, 2022	0.69

The correlation between SUPL and SPY shifts across timeframes, from 0.51 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.

SUPL vs. SPY - Sectors Allocation Comparison

Sectors	SUPL	SPY
Industrials	57.1%	7.6%
Energy	4.9%	3.4%
Healthcare	4.3%	9.4%
Utilities	3.2%	2.6%
Technology	1.9%	36.9%
Basic Materials	-	1.9%
Communication Services	-	9.7%
Consumer Cyclical	-	8.9%
Consumer Defensive	-	4.8%
Financial Services	-	12.5%
Real Estate	-	2.0%

Return for Risk

SUPL vs. SPY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SUPL

SUPL Risk / Return Rank: 73
SUPL Sharpe Ratio Rank: 72
SUPL Sortino Ratio Rank: 70
SUPL Omega Ratio Rank: 72
SUPL Calmar Ratio Rank: 78
SUPL Martin Ratio Rank: 72

SPY

SPY Risk / Return Rank: 67
SPY Sharpe Ratio Rank: 67
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 64
SPY Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SUPL vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Supply Chain Logistics ETF (SUPL) and State Street SPDR S&P 500 ETF (SPY). 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.

	SUPL	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.52	+0.15
Sortino ratio: Return per unit of downside risk	2.29	2.11	+0.18
Omega ratio: Gain probability vs. loss probability	1.30	1.27	+0.03
Calmar ratio: Return relative to maximum drawdown	2.83	2.20	+0.62
Martin ratio: Return relative to average drawdown	9.01	9.40	-0.39

SUPL vs. SPY - Sharpe Ratio Comparison

The current SUPL Sharpe Ratio is 1.67, which is comparable to the SPY Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of SUPL and SPY, 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

SUPL vs. SPY - Drawdown Comparison

The maximum SUPL drawdown since its inception was -24.42%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SUPL and SPY.

Drawdown Indicators

	SUPL	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-24.42%	-55.19%	+30.77%
Max Drawdown (1Y) Largest decline over 1 year	-9.76%	-8.88%	-0.88%
Max Drawdown (3Y) Largest decline over 3 years	-21.71%	-18.76%	-2.95%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-4.49%	-1.40%	-3.09%
Average Drawdown Average peak-to-trough decline	-5.82%	-9.01%	+3.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	2.08%	+0.98%

Volatility

SUPL vs. SPY - Volatility Comparison

ProShares Supply Chain Logistics ETF (SUPL) has a higher volatility of 4.09% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that SUPL's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SUPL	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.09%	3.58%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	13.31%	10.14%	+3.17%
Volatility (1Y) Calculated over the trailing 1-year period	16.56%	12.89%	+3.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.89%	17.18%	+1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.89%	17.95%	+0.94%

SUPL vs. SPY - Expense Ratio Comparison

SUPL has a 0.58% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

SUPL vs. SPY - Dividend Comparison

SUPL's dividend yield for the trailing twelve months is around 2.51%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPY State Street SPDR S&P 500 ETF	1.01%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%
SUPL ProShares Supply Chain Logistics ETF	2.51%	3.03%	4.78%	4.71%	3.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SUPL and SPY in my portfolio?

SUPL and SPY have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SUPL or SPY?

SUPL has higher volatility (4.09%) compared to SPY (3.58%). In terms of maximum drawdown, SUPL dropped -24.42% vs SPY's -55.19%.

Which ETF is better, SUPL or SPY?

On 3-year performance, SPY leads with 19.32% vs 8.11% for SUPL. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SUPL or SPY?

Over the 3-year period, SPY has performed better with a 19.32% return vs 8.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SUPL or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.58% for SUPL.

Which ETF pays a higher dividend yield, SUPL or SPY?

SUPL has the higher dividend yield at 2.51%, compared with 1.01% for SPY.

What is the main difference between SUPL and SPY?

SUPL is categorized as Industrials Equities, while SPY is S&P 500. SUPL tracks FactSet Supply Chain Logistics Index - Benchmark TR Net, while SPY tracks S&P 500 Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.58% for SUPL and 0.09% for SPY.

Which has better risk-adjusted returns?

SUPL currently has the higher Sharpe Ratio (1.67 vs 1.52), 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.