UTRN vs. SPY

Last updated Apr 1, 2026

Compare and contrast key facts about Vesper U.S. Large Cap Short-Term Reversal Strategy ETF (UTRN) and State Street SPDR S&P 500 ETF (SPY).

UTRN and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UTRN is a passively managed fund by Exchange Traded Concepts that tracks the performance of the Vesper US Large Cap Short-Term Reversal Index. It was launched on Sep 21, 2018. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both UTRN and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

UTRN vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vesper U.S. Large Cap Short-Term Reversal Strategy ETF (UTRN) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

UTRN vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF	0.00%	-3.65%	28.82%	0.72%	-20.36%	30.54%	19.21%	31.81%	-14.57%
SPY State Street SPDR S&P 500 ETF	-4.37%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-13.91%

Returns By Period

UTRN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: 2.91%
• 1M: -4.94%
• YTD: -4.37%
• 6M: -1.82%
• 1Y: 17.59%
• 3Y*: 18.19%
• 5Y*: 11.69%
• 10Y*: 13.98%

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

UTRN vs. SPY - Expense Ratio Comparison

UTRN has a 0.75% expense ratio, which is higher than SPY's 0.09% expense ratio.

UTRN

Vesper U.S. Large Cap Short-Term Reversal Strategy ETF

SPY

State Street SPDR S&P 500 ETF

Return for Risk

UTRN vs. SPY — Risk / Return Rank

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

SPY

SPY Risk / Return Rank: 64
SPY Sharpe Ratio Rank: 56
SPY Sortino Ratio Rank: 60
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 65
SPY Martin Ratio Rank: 75

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.

UTRN vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vesper U.S. Large Cap Short-Term Reversal Strategy ETF (UTRN) 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.

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

Sharpe Ratios by Period

	UTRN	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.93	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.56	—

Correlation

The correlation between UTRN and SPY is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

UTRN vs. SPY - Dividend Comparison

UTRN has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.14%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF	0.00%	0.00%	1.06%	2.75%	1.09%	24.51%	9.09%	3.77%	0.71%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.14%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Drawdowns

Drawdown Indicators

	UTRN	SPY	Difference
Max Drawdown Largest peak-to-trough decline	—	-55.19%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-12.05%	—
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	—	-6.24%	—
Average Drawdown Average peak-to-trough decline	—	-9.09%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.52%	—

Volatility

Volatility by Period

	UTRN	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	19.05%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.06%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	17.92%	—