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USD=X vs. SPYD
Performance
Return for Risk
Drawdowns
Volatility

USD=X vs. SPYD

Last updated Jun 20, 2026

USD=X (USD Cash) is a currency, while SPYD (State Street SPDR Portfolio S&P 500 High Dividend ETF) is S&P 500 fund tracking the S&P 500 High Dividend Index. Over the past 10 years, USD=X returned 0.00%/yr vs 8.52%/yr for SPYD.

Performance

USD=X vs. SPYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USD Cash (USD=X) and State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

USD=X

1D
0.00%
1M
0.00%
YTD
0.00%
6M
0.00%
1Y
0.00%
3Y*
0.00%
5Y*
0.00%
10Y*
0.00%

SPYD

1D
-0.08%
1M
0.89%
YTD
10.94%
6M
11.30%
1Y
17.69%
3Y*
13.11%
5Y*
8.30%
10Y*
8.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USD=X vs. SPYD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USD=X
USD Cash		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPYD
State Street SPDR Portfolio S&P 500 High Dividend ETF		10.94%4.65%15.34%3.91%-1.17%32.73%-11.64%21.20%-4.89%12.67%

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USD Cash

State Street SPDR Portfolio S&P 500 High Dividend ETF

Often compared with USD=X:
USD=X vs. UUPUSD=X vs. EUR=XUSD=X vs. XRP-USDUSD=X vs. BTC-USDUSD=X vs. QQQUSD=X vs. TSLAUSD=X vs. USDX
Often compared with SPYD:
SPYD vs. SCHDSPYD vs. SPYSPYD vs. VYMSPYD vs. SPYISPYD vs. HDVSPYD vs. JEPISPYD vs. SPHD

Return for Risk

USD=X vs. SPYD — Risk / Return Rank

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

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

SPYD
SPYD Risk / Return Rank: 4646
Overall Rank
SPYD Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
SPYD Sortino Ratio Rank: 4747
Sortino Ratio Rank
SPYD Omega Ratio Rank: 4141
Omega Ratio Rank
SPYD Calmar Ratio Rank: 5353
Calmar Ratio Rank
SPYD Martin Ratio Rank: 4646
Martin Ratio Rank
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.

USD=X vs. SPYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) and State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD). 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.

USD=XSPYDDifference
Sharpe ratioReturn per unit of total volatility

—

1.50

—

Sortino ratioReturn per unit of downside risk

—

2.25

—

Omega ratioGain probability vs. loss probability

—

1.26

—

Calmar ratioReturn relative to maximum drawdown

—

2.52

—

Martin ratioReturn relative to average drawdown

—

7.28

—

USD=X vs. SPYD - Sharpe Ratio Comparison

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Drawdowns

USD=X vs. SPYD - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum SPYD drawdown of -46.42%. Use the drawdown chart below to compare losses from any high point for USD=X and SPYD.

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Drawdown Indicators

USD=XSPYDDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-46.42%

+46.42%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-7.05%

+7.05%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-16.13%

+16.13%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-22.25%

+22.25%

Max Drawdown (10Y)

Largest decline over 10 years

0.00%

-46.42%

+46.42%

Current Drawdown

Current decline from peak

0.00%

-3.30%

+3.30%

Average Drawdown

Average peak-to-trough decline

0.00%

-6.15%

+6.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

2.43%

-2.43%

Volatility

USD=X vs. SPYD - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) has a volatility of 3.57%. This indicates that USD=X experiences smaller price fluctuations and is considered to be less risky than SPYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USD=XSPYDDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.00%

3.57%

-3.57%

Volatility (6M)

Calculated over the trailing 6-month period

0.00%

8.03%

-8.03%

Volatility (1Y)

Calculated over the trailing 1-year period

0.00%

11.84%

-11.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.00%

16.10%

-16.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.00%

19.79%

-19.79%

Frequently Asked Questions

SPYD has higher volatility (3.57%) compared to USD=X (0.00%). In terms of maximum drawdown, USD=X dropped 0.00% vs SPYD's -46.42%.

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