WARP vs SPY

Comparison between VANECK SPACE ETF (WARP, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

WARP vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	WARP(ETF)	SPY(ETF)
Net Assets	$46M	$784B
Expense Ratio	0.50%	0.09%
Max Drawdown	28.83%	56.47%
Sharpe Ratio	2.65	1.50
5Y Beta	4.57	1.00
P/E Ratio	-40.78	28.29
Forward P/E	N/A	21.76
5Y Dividends CAGR	N/A	5.43%
5Y EPS CAGR	N/A	25.98%
Debt to Equity	-3.52%	30.79%
P/S Ratio	7.25	3.79
P/B Ratio	5.93	5.67

Net Assets

WARP

$46M

Winner

SPY

$784B

Expense Ratio

WARP

0.50%

Winner

SPY

0.09%

Max Drawdown

Winner

WARP

28.83%

SPY

56.47%

Sharpe Ratio

Winner

WARP

2.65

SPY

1.50

5Y Beta

WARP

4.57

Winner

SPY

1.00

P/E Ratio

Winner

WARP

-40.78

SPY

28.29

Forward P/E

WARP

N/A

SPY

21.76

5Y Dividends CAGR

WARP

N/A

SPY

5.43%

5Y EPS CAGR

WARP

N/A

SPY

25.98%

Debt to Equity

Winner

WARP

-3.52%

SPY

30.79%

P/S Ratio

WARP

7.25

Winner

SPY

3.79

P/B Ratio

WARP

5.93

Winner

SPY

5.67

WARP vs SPY - Holdings Comparison

WARP and SPY have 2 common holdings. Overlap is -0.17%

WARP's top 25 holdings weight is 99.99%. SPY's top 25 holdings weight is 52.46%.

Rank	WARP	SPY
#1	PLANET LABS PBC CLASS A (PL) - 9.44%	NVIDIA CORP (NVDA) - 8.30%
#2	ROCKET LAB CORP (RKLB) - 9.36%	APPLE INC (AAPL) - 7.09%
#3	VIASAT INC (VSAT) - 7.07%	MICROSOFT CORP (MSFT) - 5.02%
#4	INTUITIVE MACHINES INC ORDINARY SHARES CLASS A (LUNR) - 6.28%	AMAZON.COM INC (AMZN) - 3.84%
#5	AST SPACEMOBILE INC ORDINARY SHARES CLASS A (ASTS) - 6.05%	BROADCOM INC (AVGO) - 3.50%
#6	FIREFLY AEROSPACE INC (FLY) - 5.96%	ALPHABET INC CLASS A (GOOGL) - 3.23%
#7	REDWIRE CORP (RDW) - 5.86%	ALPHABET INC CLASS C (GOOG) - 2.57%
#8	ASTROSCALE HOLDINGS INC (n/a) - 5.65%	META PLATFORMS INC CLASS A (META) - 2.00%
#9	IRIDIUM COMMUNICATIONS INC (IRDM) - 5.41%	MICRON TECHNOLOGY INC (MU) - 1.84%
#10	ECHOSTAR CORP CLASS A (SATS) - 5.41%	TESLA INC (TSLA) - 1.83%
#11	MDA SPACE LTD COMMON STOCK (n/a) - 5.08%	BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.32%
#12	VOYAGER TECHNOLOGIES INC CLASS A (VOYG) - 4.53%	ADVANCED MICRO DEVICES INC (AMD) - 1.30%
#13	SKY PERFECT JSAT CORP (n/a) - 4.24%	ELI LILLY AND CO (LLY) - 1.29%
#14	GLOBALSTAR INC (GSAT) - 3.86%	JPMORGAN CHASE & CO (JPM) - 1.24%
#15	EUTELSAT COMMUNICATIONS (n/a) - 3.36%	EXXON MOBIL CORP (XOM) - 0.96%
#16	NEXTNAV INC (NN) - 3.04%	JOHNSON & JOHNSON (JNJ) - 0.82%
#17	AVIO SPA COMMON STOCK (n/a) - 2.97%	VISA INC CLASS A (V) - 0.82%
#18	SYNSPECTIVE INC (n/a) - 2.78%	INTEL CORP (INTC) - 0.78%
#19	GILAT SATELLITE NETWORKS LTD (GILT) - 2.20%	CISCO SYSTEMS INC (CSCO) - 0.77%
#20	SES RECEIPT (n/a) - 1.64%	WALMART INC (WMT) - 0.76%
#21	EURO CURRENCY (n/a) - 0.00%	COSTCO WHOLESALE CORP (COST) - 0.65%
#22	US DOLLAR (n/a) - -0.20%	CATERPILLAR INC (CAT) - 0.65%
#23	N/A	ORACLE CORP (ORCL) - 0.64%
#24	N/A	LAM RESEARCH CORP (LRCX) - 0.64%
#25	N/A	APPLIED MATERIALS INC (AMAT) - 0.60%
Total Holdings	22	505

WARP vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	WARP	SPY
1 month	-4.04%	+0.48%
3 months	N/A	+11.67%
6 months	N/A	+9.42%
1 year	N/A	+24.27%
5 years(CAGR)	N/A	+13.36%
10 years(CAGR)	N/A	+15.42%
Max(CAGR)	+158.46%	+8.49%

WARP

-4.04%

Winner

SPY

+0.48%

WARP

N/A

SPY

+11.67%

WARP

N/A

SPY

+9.42%

WARP

N/A

SPY

+24.27%

5Y(CAGR)

WARP

N/A

SPY

+13.36%

10Y(CAGR)

WARP

N/A

SPY

+15.42%

Max(CAGR)

Winner

WARP

+158.46%

SPY

+8.49%

WARP vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	WARP	SPY
2026	+9.81%	+8.88%
2025	N/A	+18.00%
2024	N/A	+25.59%
2023	N/A	+26.72%
2022	N/A	-18.64%
2021	N/A	+30.52%
2020	N/A	+17.28%
2019	N/A	+31.09%
2018	N/A	-5.24%
2017	N/A	+20.78%
2016	N/A	+13.59%
2015	N/A	+1.31%
2014	N/A	+14.56%
2013	N/A	+29.00%
2012	N/A	+14.17%
2011	N/A	+0.85%
2010	N/A	+13.14%
2009	N/A	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

WARP vs SPY Drawdown Comparison

The maximum drawdown for WARP was -28.83%, occurring on Jun 10, 2026. This drawdown has not yet recovered.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current WARP drawdown is -27.67%. The current SPY drawdown is -2.35%.

Rank	WARP	SPY
#1	-28.83% May 28, 2026 - Jun 10, 2026	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-3.25% May 14, 2026 - May 20, 2026	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-1.35% May 11, 2026 - May 13, 2026	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-0.57% May 20, 2026 - May 22, 2026	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	N/A	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	N/A	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	N/A	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	N/A	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	N/A	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	N/A	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	N/A	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	N/A	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	N/A	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	N/A	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	N/A	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between WARP and SPY is 1.00 which considered as a very strong positive correlation - the stocks move almost identically together.

1.00

-101

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WARP vs SPY

WARP vs SPY - Performance Comparison

Key Characteristics

WARP vs SPY - Holdings Comparison

WARP vs SPY - Historical Returns

WARP vs SPY - Annual Returns (1999 - 2026)

WARP vs SPY Drawdown Comparison

Correlation

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