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SPYY
-0.36 · -6.37%
£5.31 · LSE
IncomeShares S&P500 Options (0DTE) ETP | Other Equity
Leverage Shares PLC · Ireland
AUM:$3.1M
#– of – in Other Equity ETFs
ℹ️
Reward Rating
38
Weak
3.10% 1Y return
ℹ️
Risk Rating
68
Elevated
Risk Assessment
ℹ️

Educational tool only – Scores are based on historical data, holdings and expense metrics for informational purposes. This is not financial advice or a recommendation to buy or sell any security. Always conduct your own research or consult a qualified financial adviser.

Market Performance

SPYY returned +3.1% over the past year, broadly in line with flat market conditions.

Cost Efficiency

Ongoing charge of 0.45% — moderate cost. Consider how fees compound over long holding periods.

What is SPYY?

IncomeShares S&P500 Options (0DTE) ETP tracks its benchmark index, providing diversified exposure across 1 holdings. Its ongoing charge is 0.45%.

Performance Highlights

Investment Breakdown

Modest 1-Year Return
SPYY returned 3.1% over the past year.
Moderate Cost
Ongoing charge of 0.45%. Consider how fees compound over a long holding period.
Broadly Diversified
Top 10 holdings represent just 28.6% of the ETF — exposure spread across many positions.

Openbook Analysis

Performance: Weak (38)

The scoring profile reflects subdued historical performance over the measured period. The ongoing charge of 0.45% should be considered against long-term return expectations. Risk indicators are elevated — volatility warrants consideration (historical).

For informational and educational purposes only. Not financial advice. Past performance is not indicative of future results.

ETF Information
AUM$3.1M
Ongoing Charge0.45%
Dividend Yield84.07%
Holdings1
Inception DateAug 2024
DomicileIreland
DistributionAnnually
Index–
ProviderLeverage Shares PLC
Beta–
CategoryOther Equity
CurrencyUSD
Portfolio Impact

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Example preview
6168
+7 points · better diversified
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Uses ISF.L (iShares FTSE 100 ETF)
Indicators

Performance Metrics

Historical returns

6M
-12.5%
1Y
-14.9%
3Y
-19.6%
5Y
-19.6%
OpenBook InsightIf you had invested £10,000 in SPYY 5 years ago, it would have fallen to £8,037 — a loss of £1,963.

Annual Returns

Calendar year performance

SPYY delivered positive returns in 0 of the last 3 calendar years.
YearSPYY
2026 YTD-6.8%
2025-6.4%
2024-5.2%
CAGR 2yr-5.8%
0/3 positive yearsAvg return: -6.1%Worst year: -6.8% (2026)

Technical Analysis Summary

Automated insights from historical price action and indicators

Technical Regime: MIXED
Trend Strength
67%
Positive
Volatility
18.6%
Low
Momentum
+1.6%
30-day change
Support Level
4.83
Key floor
Key Insights
  • Price is consolidating, with low momentum over the recent period.
  • Monitor key support and resistance levels as part of broader risk assessment.

Reward Rating Breakdown

Our reward rating analyses SPYY's attractiveness using 4 weighted factors. Each factor is scored 0-100, then combined using the weights shown below. Past performance does not guarantee future results.

Overall Reward Rating
38
Weak REWARD
Data Coverage: %
Factor Framework
Performance
Has the ETF delivered strong historical returns versus similar ETFs?
Cost Efficiency
Is the ETF cheap to own over long periods?
Income
Does it provide attractive and consistent distributions?
Diversification Quality
Does it spread exposure across holdings, sectors, and regions?

📈 Performance

Weight: 30%
30/100

Has the ETF delivered strong historical returns versus similar ETFs? Combines 1/3/5/10-year returns with the Sharpe ratio (risk-adjusted return).

1Y Return
3.10%
Weak
3Y Return
0.00%
Weak
5Y Return
0.00%
Weak
10Y Return
0.00%
Weak
Sharpe Ratio
—
No Data

Weak historical performance: 1-year return of 3.10%, 3-year annualised 0.00%, 5-year annualised 0.00%. Past performance is not indicative of future results.

💰 Cost Efficiency

Weight: 30%
30/100

Is the ETF cheap to own over long periods? Low ongoing charges compound into meaningful additional returns over a 10-year horizon.

Ongoing Charge
0.45%
Weak
Net Expense Ratio
—
No Data
Annual Turnover
—
No Data
Tracking Difference
—
No Data

Higher-than-average cost profile: ongoing charge of 0.45%.

💵 Income

Weight: 15%
73/100

Does the ETF provide attractive and consistent distributions? Combines the current yield with distribution frequency.

Distribution Yield
84.07%
Very Good
Distribution Frequency
Annually
Neutral

Attractive income profile: distribution yield of 84.07%, annually distributions.

🌐 Diversification Quality

Weight: 25%
36/100

Does the ETF spread exposure across many holdings, sectors, and regions? Concentrated funds can be doing exactly what they're meant to do — treat the score as context, not a verdict.

Holdings
1
Very Weak
Top 10 Concentration
28.57%
Neutral
Top Sector
Technology33.1%
Weak
Top Region
North America99.4%
Very Weak

Heavily concentrated — returns will be driven by a narrow slice of the market: 1 holdings, top 10 at 28.6%, Technology sector at 33.1%, North America at 99.4%.

Scores are derived from fund-provider disclosures and historical data. For informational and educational purposes only — not investment advice. Past performance is not indicative of future results.

Risk Rating Breakdown

Our risk rating analyses SPYY using 4 weighted factors. A higher score indicates higher risk. This is a framework for understanding exposure — concentrated funds can still be doing exactly what they're meant to do.

Overall Risk Rating
68
Elevated RISK
Data Coverage: 83%
Factor Framework
Holdings Concentration
How much of the fund sits in its largest positions? Few dominant names mean returns ride on those companies.
Market Exposure
Geographic, sector and cyclical dependencies. High single-country or single-sector weight increases macro sensitivity.
Volatility
Historical price movement, beta and drawdowns — how sharply the fund moves relative to the market.
Income Reliability
How dependable the distribution yield is — cyclical-sector dependency and unusually high yields can flag payout risk.

🎯 Holdings Concentration

Weight: 25%
63/100

How much of the fund sits in a small number of positions? If the top holdings dominate, returns will be driven by those specific companies rather than the broader index.

Top 10 Weight
28.57%
Lower Risk
Largest Holding
28.57%
High Risk
Number of Holdings
1
High Risk
HHI (weight²)
816
Lower Risk

Moderate holdings concentration: top 10 holdings at 28.6%, largest single position at 28.57%, 1 total holdings.

🌍 Market Exposure

Weight: 25%
67/100

How dependent is the fund on a single country, sector or economic cycle? Heavy exposure to one market means a single macro event can drive most of the return.

Top Region
North America99.4%
High Risk
Top Sector
Technology33.1%
Elevated
Top 2 Sectors
45.34%
Moderate
Cyclical Sectors
28.32%
Lower Risk

Notable regional or sector dependency: North America at 99.4%, Technology sector at 33.1%, 28.3% in cyclical sectors.

📊 Volatility

Weight: 35%
72/100

How sharply does the fund move day-to-day and how deep have its drawdowns been? High volatility means wider return outcomes over short horizons.

1Y Volatility
22.56%
Elevated
Beta
—
No Data
Max Drawdown
—
No Data

High historical volatility — expect meaningful short-term swings: 1Y volatility of 22.56% (historical).

💵 Income Reliability

Weight: 15%
66/100

How dependable is the fund's distribution yield? Heavy cyclical-sector exposure or unusually high yields can flag vulnerability to dividend cuts in a downturn.

Current Yield
84.07%
High Risk
Cyclical Sector Exposure
28.32%
Lower Risk
Top-Sector Dependency
Technology33.1%
Elevated

Income has some cyclical dependency: yield of 84.07%, 28.3% in cyclical sectors (financials, energy, materials, industrials, real estate), Technology sector at 33.1%.

Scores are derived from fund-provider disclosures and historical data. For informational and educational purposes only — not investment advice. Risk scoring is model-based and past data does not guarantee future results.
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