A head-to-head comparison of YieldMax S&P 500 0DTE Covered Call Strategy ETF and SPDR S&P 500 ETF Trust covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
YieldMax specializes in options-based and income-focused ETFs, leveraging covered call and short option strategies to generate high distribution yields for investors seeking regular income. The firm operates a diverse lineup of 61 ETFs organized across nine fund families, including prominent strategies like 0DTE (zero days-to-expiration) options, covered calls, and target distribution approaches, alongside more traditional performance and portfolio-based offerings. YieldMax's holdings span major technology and financial names—including tickers like AMZY, APLY, BRKC, and FBY—and the firm targets both individual investors and those seeking enhanced yield through systematic options strategies.
See our curated list of related YouTube videos on SDTY.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
State Street is one of the largest ETF providers globally and is known for its SPDR family of funds, which pioneered the modern ETF industry. The company's 17-fund lineup spans multiple strategies including broad market exposure (SPLG), dividend-focused income products (SPYD, SPYM), sector-specific funds (the Select Sector SPDR series), and specialized strategies like covered call income (Premium Income series) and portfolio construction tools (SPDR Portfolio). Notable for its extensive Select Sector SPDR offerings that track individual S&P 500 sectors and its focus on both traditional index investing and income-generating strategies, State Street serves investors across a wide range of investment objectives from core holdings to tactical income plays.
See our curated list of related YouTube videos on SPY.
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
SDTY (YieldMax S&P 500 0DTE Covered Call Strategy ETF) and SPY (SPDR S&P 500 ETF Trust) are both dividend ETFs, but they take different approaches.
SDTY offers the higher yield at 25.56% vs 0.98% for SPY. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SPY is cheaper with an expense ratio of 0.09% compared to 1.08%.
SPY is the larger fund by assets ($735.1B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, SDTY would generate roughly $213.00/month, while SPY would produce $8.17/month, at current distribution rates.
SDTY yield25.56%
SPY yield0.98%
Monthly diff on $10K$204.83
Cost & efficiency
Over 10 years on $10,000, SDTY would cost approximately $1,080 in fees vs $90 for SPY (simplified, not compounded). The $990.00 difference may be offset by yield or performance.
SDTY ER1.08%
SPY ER0.09%
Strategy & risk
SDTY tracks S&P 500 Index with a covered call approach, while SPY tracks S&P 500 Index using a large cap strategy.
SDTY beta—
SPY beta1.0
Fund details
SDTY is managed by YieldMax (launched 08/30/2024) with $22M in assets. SPY is managed by State Street (launched 01/22/1993) with $735.1B in assets.
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Frequently asked questions
Is SDTY or SPY better for dividend income?
It depends on your goals. SDTY currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between SDTY and SPY?
SDTY (YieldMax S&P 500 0DTE Covered Call Strategy ETF) tracks S&P 500 Index with a covered call strategy, while SPY (SPDR S&P 500 ETF Trust) tracks S&P 500 Index with a large cap approach. They are issued by YieldMax and State Street respectively.
Can I hold both SDTY and SPY?
Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has lower fees, SDTY or SPY?
SDTY has an expense ratio of 1.08% while SPY charges 0.09%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in SDTY vs SPY generate?
At current rates, $10,000 in SDTY would generate roughly $213.00 per month ($2,556.00 annually). The same in SPY would produce about $8.17 per month ($98.00 annually).
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