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Launched · SEC filings

Stratified LargeCap Index ETF

SSPYNYSE ArcaStratifiedC

$101.67+0.55 (+0.54%)

As of Nov 2, 2026, 3:59 PM ET

C43/ 100

Rank 13 of 14 in S&P 500

C43/100Rank 13 of 14inS&P 500
Intraday session: up, 79 prints from 101.12 to 101.67. Range 101.60 to 102.14. Use the arrow keys to read each point.101.40101.80102.0010 AM12 PM2 PM4 PM
Expense ratio
0.45%
Fund size
$133M
1Y total return
+19.1%
Yield · Last 12 months
1.19%
Holdings
504
Avg volume · 30D
1.57K sh
52W range
low $83.66high $101.74
Launched
Filings
SEC EDGAR

The ETF.net SSPY Grade

C

Score 43 out of 100

Category
S&P 500⁠
Rank
13 of 14
Six-pillar profile for SSPY. Scores out of 100: Cost 1, Risk 69, Mission 74, Tradability 24, Holdings 87, Durability 40. Strongest: Holdings (87). Weakest: Cost (1). Leans toward Holdings.

Score 43 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.
    A74 out of 100
    Rank 12 of 13

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B69 out of 100
    Rank 2 of 14

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F24 out of 100
    Rank 12 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

In short

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

  • Same 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.
  • Plain-vanilla plumbing: a diversified US equity portfolio in a standard 1940 Act ETF wrapper, with no structural quirks flagged in our review.
  • Launched at the end of 2014, so the strategy carries a decade-plus live record instead of a backtest.

Worth knowing

  • The 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.
  • Thinly traded and small next to the giants on this shelf, which typically shows up as wider bid-ask spreads at the moment you trade.
  • Income arrives on an annual or semiannual schedule, not quarterly.

SSPY Holdings

Holdings pillarA87 out of 100Rank 1 of 14 in S&P 500
Asset class
Stocks
Holdings
504
Top-10 weight
9%
Largest holding
MSFT1.1%

Geography

  • United States98.97%
  • Switzerland0.49%
  • Mexico0.18%
  • China0.16%
  • United Kingdom0.14%
  • Ireland0.06%
The fund’s holdings, weight-ordered — page 1 of 34.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1MSFTMicrosoft Corp1.08%2,706$1.43M819
2IBMIntl Business Machines Corp1.07%5,513$1.42M437
3SYFSynchrony Financial1.02%17,650$1.36M317
4COFCapital One Financial Corp1.01%6,439$1.34M360
5WMTWalmart Inc.0.86%9,388$1.14M469
6KRKroger Co0.85%17,199$1.13M322
7TJXTjx Companies Inc0.85%7,982$1.13M428
8COSTCostco Wholesale Corp0.83%1,112$1.11M480
9No dataCash & Other0.83%1,100,210$1.1M48
10ROSTRoss Stores Inc0.76%4,360$1.01M422
11SYYSysco Corp0.75%12,089$998K335
12HCAHca Healthcare Inc0.56%1,571$751K303
13XOMExxonmobil Holdings Corp0.56%4,040$740K525
14KMIKinder Morgan Inc0.55%21,731$738K338
15YUMYum! Brands Inc0.55%4,761$736K317

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$11,914
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. SSPY $11,914. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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+16.4%
1 month+5.2%
3 months+2.8%
1 year+19.1%
3 yearsper year+19.6%
5 yearsper year+9.9%
10 yearsFund is under 10 years oldper yearNo data

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+16.4%
2025+12.9%
2024+13.4%
2023+13.7%
2022−9.2%
2021+28.8%
2020+12.2%

SSPY in the news

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 30, 2026.
1.19%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

$10,000 in SSPY 5 years ago paid $980 in dividends.

SSPY Risk

Risk pillarB69 out of 100Rank 2 of 14 in S&P 500
How much the fund’s monthly returns vary, scaled to a year.
11.8%
Annualised · 36 months to Oct 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.
1.21
vs 3-month T-bills · to Oct 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.

FMP measures it over up to five years of monthly returns.

SSPY Cost

Compare SSPY and SPYM

Overpaying vs SPYM, cheapest in S&P 500

$8,615

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SSPY 0.45%

    $9,041

  • SPYM 0.02% Cheapest

    $426

$10,000
30 years

Cost over time

  • SSPY 0.45%
  • SPYM 0.02%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530SSPY $9,041SPYM $426

Year by year

YearSSPYSPYMOverpaying
10$812$37$775
20$3,128$144$2,984
30$9,041$426$8,615

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