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SSPY

GradeCNew York Stock Exchange Arca

Stratified LargeCap Index ETF

Major Indexes · Stratified · Inception 2019-01-02 · SEC filings

$97.75−0.45 (−0.46%)

As of Sep 23, 2026, 2:20 PM EDT

Intraday session: down, 58 prints from 98.20 to 97.75. Range 97.65 to 97.97. Use the arrow keys to read each point.$97.70$97.80$97.90$98.0010 AM12 PM2 PM4 PM
Expense ratio
0.45%
Fund size
$128M
1Y return
+15.5%
Yield · Last 12 months
1.22%
Holdings
503
Volume · 30D
0M sh
NAV per share
$98.16
52W range
low $83.66high $101.70

The ETF.net SSPY Grade

C

41/ 100

Rank 11 of 14 in S&P 500⁠

Confidence High

Six-pillar profile for SSPY. Scores out of 100: Cost 1, Risk 53, Mission 78, Tradability 23, Holdings 87, Durability 40. Strongest: Holdings (87). Weakest: Cost (1). Leans toward Holdings.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 41 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 1
    Category rank14/14 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 78
    Category rank13/13 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 53
    Category rank7/13 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 23
    Category rank12/14 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 87
    Category rank1/14 · top 7%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 40
    Category rank10/14 · mid-pack

Graded as of Sep 22, 2026

Our read on SSPY

ETF.net Research

CThe contrarian on the S&P 500 shelf. SSPY tracks Syntax's Stratified LargeCap Index instead of the standard cap-weighted benchmark its rivals follow, and has been running that alternative rulebook since the end of 2014.

Stated mandate

The Fund seeks to track, before expenses, the total return of companies included in the Syntax Stratified LargeCap Index.

Why people hold it

  1. 01Same US large-cap universe as the shelf giants (VOO, IVV, SPY), different rulebook: it follows the Syntax Stratified LargeCap Index rather than the plain cap-weighted benchmark.
  2. 02Plain-vanilla plumbing: a diversified US equity portfolio in a standard 1940 Act ETF wrapper, with no structural quirks flagged in our review.
  3. 03Launched at the end of 2014, so the strategy carries a decade-plus live record instead of a backtest.

Worth knowing

  1. 01The differentiation costs money: 0.45% a year, versus a 0.15% median for this peer group and 0.02% to 0.09% at the largest S&P 500 trackers.
  2. 02Thinly traded and small next to the giants on this shelf, which typically shows up as wider bid-ask spreads at the moment you trade.
  3. 03Income arrives on an annual or semiannual schedule, not quarterly.

SSPY Holdings

As of Sep 20, 2026, 9:03 AM
Asset class
Stocks
Holdings
503
Top-10 weight
9%
Largest holding
MSFT1.3%

Geography

  • United States96.75%
  • Ireland1.30%
  • Switzerland0.92%
  • United Kingdom0.30%
  • Bermuda0.30%
  • Canada0.25%
  • Netherlands0.17%
The fund’s holdings, weight-ordered — page 1 of 34.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001MSFTMICROSOFT CORP1.31%3,371$2M792
002COFCAPITAL ONE FINANCIAL CORP1.12%7,130$1M350
003—CASH & OTHER1.05%1,343,211$1M45
004SYFSYNCHRONY FINANCIAL1.04%17,954$1M318
005IBMINTL BUSINESS MACHINES CORP0.91%4,904$1M430
006MRNAMODERNA INC0.87%7,037$1M240
007METAMETA PLATFORMS INC0.82%1,549$1M683
008SYYSYSCO CORP0.77%12,474$987K324
009ROSTROSS STORES INC0.73%4,114$944K415
010KRKROGER CO0.72%15,265$927K318
011COSTCOSTCO WHOLESALE CORP0.70%1,006$899K465
012WMTWALMART INC.0.68%8,161$872K462
013UHSUNIVERSAL HEALTH SERVICES B0.63%4,498$813K227
014AAPLAPPLE INC0.59%2,262$762K707
015MPCMARATHON PETROLEUM CORP.0.58%1,776$749K391

Showing 1–15 of 504 holdings

SSPY Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

SSPY$11,546
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. SSPY $11,546. SPY $11,723. Use the arrow keys to read each point.$9,339$10,735$12,131Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SSPY. Periods over one year show the average yearly return.
PeriodSSPY
Year to date+13.0%
1 month−3.0%
3 months+2.5%
1 year+15.5%
3 years+16.6%per year
5 years+10.1%per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SSPY
YearReturn barSSPY
2026 YTD+13.0%
2025+12.9%
2024+13.4%
2023+13.7%
2022−9.2%
2021+28.8%
2020+12.2%

SSPY in the news

ETF.net Research hasn’t filed on SSPY yet — coverage lands here as it’s written.

SSPY Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
1.22%Last 12 months
Payout per share
$1.20Last 12 months
Last payment
$1.20 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2019–2026

One bar per payment. 8 payments from 2019 to 2026 YTD. Dec 23, 2019 $0.79; Dec 21, 2020 $0.91; Dec 20, 2021 $0.78; Dec 19, 2022 $1.08; Dec 18, 2023 $1.25; Sep 26, 2024 $2.36; Dec 30, 2024 $0.27; Dec 30, 2025 $1.20. Use the arrow keys to read each point.20192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$1.20
Dec 30, 2024Dec 31, 2024$0.27
Sep 26, 2024Sep 27, 2024$2.36
Dec 18, 2023Dec 21, 2023$1.25
Dec 19, 2022Dec 22, 2022$1.08
Dec 20, 2021Dec 23, 2021$0.78
Dec 21, 2020Dec 28, 2020$0.91
Dec 23, 2019Dec 30, 2019$0.79

SSPY Risk

How much the fund’s monthly returns vary, scaled to a year.
12.1%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.92
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−19.6%
Trough Sep 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.85
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

SSPY Cost

Expense ratio0.45%
  • The middle half of S&P 500 funds
  • Median 0.09%

Every other S&P 500 fund charges less.

SSPY costs $45.00 a year on $10,000. The median S&P 500 fund costs $9.00.