SPY — State Street SPDR S&P 500 ETF Trust

SPY Price Performance — Growth of $10,000

Value of a $10,000 investment in SPY over time, compared with QQQ. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

SPY Drawdown

The "underwater" chart: SPY's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The State Street SPDR S&P 500 ETF Trust is a US Large Cap Blend fund issued by State Street Investment Management with $809 billion in assets under management. It holds an ETFValuer grade of B+ and ranks 4th out of 19 peers in its category, placing it 18th among 458 tracked ETFs overall. The fund carries an expense ratio of 0.0945%, which sits above the category median of 0.06%. Its dividend yield of 0.98% is slightly below the category median of 1.00%. Holdings breakdown data is not available for this specific fund.

The fund’s price of $777.22 sits at 97.1% of its 52-week range, indicating it is near the top of its recent trading band. Short-term returns show a dip of 0.24% over the last day, while the one-year return of 16.97% slightly outpaces the category median of 16.70%. Longer-term performance is stronger, with a three-year return of 85.84% demonstrating sustained growth. The rating was upgraded from B to B+ on September 21, 2026. Historical price data is available for only 3.0 years, limiting the depth of long-term trend analysis.

With a beta of 1.00, the ETF moves in lockstep with the broader market. Annualized volatility is recorded at 13.01%, which is labeled as Low. The Sharpe ratio of 0.92 suggests reasonable risk-adjusted returns relative to the risk taken. The maximum drawdown of -18.76% indicates the largest peak-to-trough decline experienced during the available history. Liquidity is robust, with an average daily volume of 44,004,060 shares facilitating easy entry and exit.

AI-generated summary based on the data on this page.

Market Backdrop

10-Year Treasury Yield: 5.27% (as of 2026-10-06) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 15.01 (as of 2026-10-06) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

SPY Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 44.0M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $809B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: SPY is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

SPY Performance History

How SPY Compares to Other US Large Cap Blend ETFs