Skip to content
etf.net

Launched · SEC filings

Stratified LargeCap Index ETF

SSPYNYSE ArcaC

$98.73+0.17 (+0.17%)

As of Oct 13, 2026, 3:59 PM

C44/ 100

Rank 11 of 14 in S&P 500

C44/100Rank 11 of 14inS&P 500
Intraday session: up, 76 prints from 98.57 to 98.73. Range 98.28 to 98.89. Use the arrow keys to read each point.98.3098.4098.5098.9010 AM12 PM2 PM4 PM
Expense ratio
0.45%
Fund size
$129M
1Y total return
+18.0%
Yield · Last 12 months
1.22%
Holdings
504
Avg volume · 30D
0M sh
NAV per share
$98.42
52W range
low $83.66high $101.70
Launched
Filings
SEC EDGAR

The ETF.net SSPY Grade

C

Score 44 out of 100

Category
S&P 500⁠
Rank
11 of 14
Six-pillar profile for SSPY. Scores out of 100: Cost 1, Risk 62, Mission 77, Tradability 32, Holdings 87, Durability 40. Strongest: Holdings (87). Weakest: Cost (1). Leans toward Holdings.

Score 44 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F1 out of 100
    Rank 14 of 14

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A77 out of 100
    Rank 12 of 13

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B62 out of 100
    Rank 2 of 13

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D32 out of 100
    Rank 10 of 14

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A87 out of 100
    Rank 1 of 14

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C40 out of 100
    Rank 10 of 14

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 Oct 12, 2026
Asset class
Stocks
Holdings
504
Top-10 weight
9%
Largest holding
MSFT1.1%

Geography

  • United States96.36%
  • Ireland1.34%
  • Switzerland1.00%
  • Netherlands0.31%
  • Bermuda0.30%
  • Canada0.29%
  • United Kingdom0.27%
  • Singapore0.12%
The fund’s holdings, weight-ordered — page 1 of 34.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001MSFTMicrosoft Corp1.12%2,706$1M815
002SYFSynchrony Financial1.00%17,650$1M316
003COFCapital One Financial Corp1.00%6,439$1M353
004IBMIntl Business Machines Corp0.97%5,513$1M427
005TJXTjx Companies Inc0.86%7,982$1M422
006KRKroger Co0.82%17,199$1M317
007—Cash & Other0.82%1,056,436$1M47
008COSTCostco Wholesale Corp0.82%1,112$1M469
009WMTWalmart Inc.0.81%9,388$1M460
010ROSTRoss Stores Inc0.75%4,360$970K419
011SYYSysco Corp0.73%12,089$945K327
012HCAHca Healthcare Inc0.55%1,571$709K299
013KMIKinder Morgan Inc0.55%21,731$706K339
014YUMYum! Brands Inc0.54%4,761$689K310
015XOMExxonmobil Holdings Corp0.53%4,040$683K511

Showing 1–15 of 504 holdings

SSPY Performance

Launched Jan 2, 2019

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

Not enough history yet.
SSPY$11,798
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. SSPY $11,798. SPY $12,044. Use the arrow keys to read each point.$9,575$10,955$12,334Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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+13.5%
1 month−0.3%
3 months+0.6%
1 year+18.0%
3 yearsper year+17.5%
5 yearsper year+10.1%
10 yearsFund is under 10 years oldper 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+13.5%
2025+12.9%
2024+13.4%
2023+13.7%
2022−9.2%
2021+28.8%
2020+12.2%

SSPY in the news

Filtered to SSPY · S&P 500

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 Oct 12, 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.
12.0%
Annualised · 36 months to Sep 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.
0.94
vs 3-month T-bills · to Sep 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.

Other funds in S&P 500

See others