WBIL vs. SPY

Last updated Aug 4, 2026

WBIL (WBI BullBear Quality 3000 ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - WBIL is a Quality Factor fund actively managed by WBI, while SPY is a S&P 500 fund tracking the S&P 500 Index. WBIL is actively managed, while SPY is passively managed. Over the past 10 years, WBIL returned 6.84%/yr vs 15.09%/yr for SPY. Their 0.76 correlation means they have sometimes moved together and sometimes differently. WBIL charges 1.23%/yr vs 0.09%/yr for SPY.

Performance

WBIL vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WBI BullBear Quality 3000 ETF (WBIL) 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, WBIL achieves a 14.91% return, which is significantly higher than SPY's 11.70% return. Over the past 10 years, WBIL has underperformed SPY with an annualized return of 6.84%, while SPY has yielded a comparatively higher 15.09% annualized return.

WBIL

• 1D: 0.70%
• 1M: 1.10%
• 6M: 11.42%
• YTD: 14.91%
• 1Y: 24.01%
• 3Y*: 10.69%
• 5Y*: 5.45%
• 10Y*: 6.84%
• ALL TIME*: 4.59%

SPY

• 1D: 1.42%
• 1M: 1.73%
• 6M: 9.53%
• YTD: 11.70%
• 1Y: 23.22%
• 3Y*: 20.74%
• 5Y*: 13.05%
• 10Y*: 15.09%
• ALL TIME*: 10.83%

*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	$38.19B	$36.17B	$39.59B
WBIL WBI BullBear Quality 3000 ETF	$949.45K	$468.49K	$212.83K

WBIL vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WBIL WBI BullBear Quality 3000 ETF	14.91%	-0.47%	13.29%	11.79%	-9.60%	18.67%	-2.19%	11.65%	-9.67%	19.31%
SPY State Street SPDR S&P 500 ETF	11.70%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between WBIL and SPY is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.82
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (10Y) Provides a long-term view across more market conditions.	0.77
Correlation (All Time) Calculated using the full available price history since Aug 27, 2014	0.76

The correlation between WBIL and SPY has been stable across timeframes, ranging from 0.76 to 0.83 - a consistent structural relationship.

WBIL vs. SPY - Sectors Allocation Comparison

Sectors	WBIL	SPY
Technology	33.0%	36.9%
Industrials	22.2%	7.6%
Consumer Cyclical	11.4%	8.9%
Financial Services	10.3%	12.5%
Healthcare	8.7%	9.4%
Consumer Defensive	5.4%	4.8%
Communication Services	5.2%	9.7%
Real Estate	2.8%	2.0%
Energy	2.1%	3.4%
Basic Materials	1.8%	1.9%
Utilities	1.3%	2.6%

Return for Risk

WBIL vs. SPY — Risk / Return Rank

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

WBIL

WBIL Risk / Return Rank: 63
WBIL Sharpe Ratio Rank: 61
WBIL Sortino Ratio Rank: 60
WBIL Omega Ratio Rank: 58
WBIL Calmar Ratio Rank: 65
WBIL Martin Ratio Rank: 70

SPY

SPY Risk / Return Rank: 78
SPY Sharpe Ratio Rank: 78
SPY Sortino Ratio Rank: 77
SPY Omega Ratio Rank: 77
SPY Calmar Ratio Rank: 74
SPY Martin Ratio Rank: 83

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.

WBIL vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WBI BullBear Quality 3000 ETF (WBIL) 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.

	WBIL	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.55	1.82	-0.26
Sortino ratio: Return per unit of downside risk	2.20	2.50	-0.31
Omega ratio: Gain probability vs. loss probability	1.27	1.32	-0.05
Calmar ratio: Return relative to maximum drawdown	2.45	2.62	-0.18
Martin ratio: Return relative to average drawdown	9.32	11.20	-1.88

WBIL vs. SPY - Sharpe Ratio Comparison

The current WBIL Sharpe Ratio is 1.55, which is comparable to the SPY Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of WBIL 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

WBIL vs. SPY - Drawdown Comparison

The maximum WBIL drawdown since its inception was -25.30%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for WBIL and SPY.

Drawdown Indicators

	WBIL	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-25.30%	-55.19%	+29.89%
Max Drawdown (1Y) Largest decline over 1 year	-9.85%	-8.88%	-0.97%
Max Drawdown (3Y) Largest decline over 3 years	-25.30%	-18.76%	-6.54%
Max Drawdown (5Y) Largest decline over 5 years	-25.30%	-24.50%	-0.80%
Max Drawdown (10Y) Largest decline over 10 years	-25.30%	-33.72%	+8.42%
Current Drawdown Current decline from peak	-2.08%	0.00%	-2.08%
Average Drawdown Average peak-to-trough decline	-6.93%	-9.01%	+2.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	2.08%	+0.50%

Volatility

WBIL vs. SPY - Volatility Comparison

The current volatility for WBI BullBear Quality 3000 ETF (WBIL) is 3.34%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 3.84%. This indicates that WBIL experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WBIL	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	3.84%	-0.50%
Volatility (6M) Calculated over the trailing 6-month period	12.21%	10.23%	+1.98%
Volatility (1Y) Calculated over the trailing 1-year period	15.56%	12.87%	+2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.89%	17.19%	-3.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.83%	17.96%	-5.13%

WBIL vs. SPY - Expense Ratio Comparison

WBIL has a 1.23% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

WBIL vs. SPY - Dividend Comparison

WBIL's dividend yield for the trailing twelve months is around 0.04%, less than SPY's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPY State Street SPDR S&P 500 ETF	0.99%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%
WBIL WBI BullBear Quality 3000 ETF	0.04%	0.05%	0.07%	0.29%	1.03%	2.02%	0.19%	0.73%	0.75%	0.83%	0.58%	0.20%

Frequently Asked Questions

Can I hold both WBIL and SPY in my portfolio?

WBIL and SPY have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WBIL or SPY?

SPY has higher volatility (3.84%) compared to WBIL (3.34%). In terms of maximum drawdown, WBIL dropped -25.30% vs SPY's -55.19%.

Which ETF is better, WBIL or SPY?

On 10-year performance, SPY leads with 15.09% vs 6.84% for WBIL. On fees, SPY is cheaper at 0.09% per year. On volatility, WBIL has been the lower-risk option at 3.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WBIL or SPY?

Over the 10-year period, SPY has performed better with a 15.09% return vs 6.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WBIL or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 1.23% for WBIL.

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

SPY has the higher dividend yield at 0.99%, compared with 0.04% for WBIL.

What is the main difference between WBIL and SPY?

WBIL is categorized as Quality Factor, while SPY is S&P 500. They also come from different issuers: WBI and State Street. Their fees differ too: 1.23% for WBIL and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.82 vs 1.55), 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.