WEAT vs. SPY
WEAT (Teucrium Wheat Fund) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - WEAT is a Agricultural Commodities fund tracking the Teucrium Wheat Index (TWEAT), while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, WEAT returned -5.19%/yr vs 15.08%/yr for SPY. At a 0.04 correlation, their price movements are largely independent. WEAT charges 1.91%/yr vs 0.09%/yr for SPY.
Performance
WEAT vs. SPY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, WEAT achieves a 18.48% return, which is significantly higher than SPY's 10.45% return. Over the past 10 years, WEAT has underperformed SPY with an annualized return of -5.19%, while SPY has yielded a comparatively higher 15.08% annualized return.
WEAT
- 1D
- -0.25%
- 1M
- 5.91%
- 6M
- 17.19%
- YTD
- 18.48%
- 1Y
- 5.16%
- 3Y*
- -10.32%
- 5Y*
- -6.22%
- 10Y*
- -5.19%
SPY
- 1D
- -0.77%
- 1M
- 1.26%
- 6M
- 8.34%
- YTD
- 10.45%
- 1Y
- 21.46%
- 3Y*
- 20.07%
- 5Y*
- 12.94%
- 10Y*
- 15.08%
WEAT vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WEAT Teucrium Wheat Fund | 18.48% | -17.14% | -19.26% | -25.19% | 7.98% | 19.39% | 5.81% | -1.35% | -1.17% | -12.79% |
SPY State Street SPDR S&P 500 ETF | 10.45% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Correlation
The correlation between WEAT and SPY is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2011 | 0.04 |
The correlation between WEAT and SPY shifts across timeframes, from -0.10 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
WEAT vs. SPY — Risk / Return Rank
WEAT
SPY
WEAT vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Teucrium Wheat Fund (WEAT) 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.
| WEAT | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.48 | ||
| Sortino ratioReturn per unit of downside risk | -1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.31 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.36 | 2.43 | -2.07 |
| Martin ratioReturn relative to average drawdown | 0.69 | 10.57 | -9.88 |
Loading charts...
Drawdowns
WEAT vs. SPY - Drawdown Comparison
The maximum WEAT drawdown since its inception was -84.32%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for WEAT and SPY.
Loading charts...
Drawdown Indicators
| WEAT | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.32% | -55.19% | -29.13% |
Max Drawdown (1Y)Largest decline over 1 year | -14.44% | -8.88% | -5.56% |
Max Drawdown (3Y)Largest decline over 3 years | -46.27% | -18.76% | -27.51% |
Max Drawdown (5Y)Largest decline over 5 years | -67.83% | -24.50% | -43.33% |
Max Drawdown (10Y)Largest decline over 10 years | -67.83% | -33.72% | -34.11% |
Current DrawdownCurrent decline from peak | -81.34% | -1.12% | -80.22% |
Average DrawdownAverage peak-to-trough decline | -63.24% | -9.02% | -54.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.46% | 2.03% | +5.43% |
Volatility
WEAT vs. SPY - Volatility Comparison
Teucrium Wheat Fund (WEAT) has a higher volatility of 6.36% compared to State Street SPDR S&P 500 ETF (SPY) at 4.26%. This indicates that WEAT'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.
Loading charts...
Volatility by Period
| WEAT | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 4.26% | +2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 18.75% | 10.01% | +8.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.89% | 12.60% | +9.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.29% | 17.17% | +13.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.78% | 17.93% | +8.85% |
WEAT vs. SPY - Expense Ratio Comparison
WEAT has a 1.91% expense ratio, which is higher than SPY's 0.09% expense ratio.
Dividends
WEAT vs. SPY - Dividend Comparison
WEAT has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPY State Street SPDR S&P 500 ETF | 1.00% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
WEAT Teucrium Wheat Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WEAT and SPY have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WEAT has higher volatility (6.36%) compared to SPY (4.26%). In terms of maximum drawdown, WEAT dropped -84.32% vs SPY's -55.19%.
On 10-year performance, SPY leads with 15.08% vs -5.19% for WEAT. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 4.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPY has performed better with a 15.08% return vs -5.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPY is cheaper with a 0.09% expense ratio, compared with 1.91% for WEAT.
SPY has the higher dividend yield at 1.00%, compared with 0.00% for WEAT.
WEAT is categorized as Agricultural Commodities, while SPY is S&P 500. WEAT tracks Teucrium Wheat Index (TWEAT), while SPY tracks S&P 500 Index. They also come from different issuers: Teucrium and State Street. Their fees differ too: 1.91% for WEAT and 0.09% for SPY.
SPY currently has the higher Sharpe Ratio (1.71 vs 0.24), 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.
Find the right allocation for WEAT and SPY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer