Benchmark research · S&P 500
ETFs and Stocks That Consistently Outperformed SPY (S&P 500)
Any investment can look great over a single hand-picked timeframe. To find what truly kept ahead of SPY (State Street SPDR S&P 500 ETF), we screened SPY against the entire market of over 10,000 stocks and ETFs across 8 different time windows from 1 month to 10 years, including reinvested dividends. A contender had to come out ahead in both the short term and the long term to make the list. Data as of October 22, 2026.
Compare the entire market against SPY live →Key findings
- How hard it was to top SPY: Across over 10,000 stocks and ETFs screened, only 45 of 954 eligible ETFs, or 4.7%, and 227 of 1,502 eligible stocks, or 15%, outperformed in at least 3 of 5 short-term periods and 2 of 3 long-term periods. Just 5 ETFs and 82 stocks were all-weather, outperforming in every long-term period and all but one short-term period, so SPY was hard to top consistently.
- Who came out ahead across the three groups:
- Popular alternatives: QQQ outperformed in 3 of 3 long-term periods but only 2 of 5 short-term periods, while ARKK managed 2 of 3 long-term periods and 1 of 5 short-term periods. DGRO, SCHD, VTV, and RSP each topped SPY in all 5 short-term periods but none of the 3 long-term periods. VOO and IVV, which track the same index as SPY, tied it in every period.
- Top ETFs: Technology led the ETF group, with 9 of the top 15 from that category. CIBR and HACK, both focused on cybersecurity, and semiconductor funds SMH and SOXX stood out; commodities funds UGA and BNO also performed strongly across the timeframes. In total, 45 ETFs made the consistency cut.
- Top stocks: A total of 227 stocks made the consistency cut. The leading stocks shown include healthcare companies NTRA, MEDP, and LLY, along with industrial shipping company BWLP. The standout stocks shown also include COKE in consumer staples and MPC in energy.
- The risk trade-off: Over 5 years, the top ETFs and stocks were all more volatile than SPY. The top ETFs had median volatility of 26.6%, compared with 17.2% for SPY, and 9 of 15 had a higher Sharpe ratio (a measure of return per unit of risk). The top stocks had median volatility of 47.0%, and 7 of 10 had a higher Sharpe ratio than SPY, so most offered stronger risk-adjusted returns despite much larger price swings.
How popular alternatives compare
Well-known funds and stocks investors often compare against SPY, sorted by long-term periods outperformed, then short-term.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | ||
| SPY State Street SPDR S&P 500 ETF (benchmark) | — | −1.2% | +2.5% | +8.0% | +12.7% | +15.6% | +88.4% | +80.3% | +316% | 17.2% | 0.78 |
| QQQ Fell shortInvesco QQQ Trust, Series 1 | 2/5 short3/3 long | −5.8% | 0.0% | +7.8% | +15.3% | +16.9% | +101% | +94.0% | +531% | 23.0%1.3× SPY | 0.69 |
| ARKK Fell shortARK Innovation ETF | 1/5 short2/3 long | −10.6% | +7.7% | +3.2% | +4.5% | −4.1% | +127% | −29.3% | +329% | 46.9%2.7× SPY | 0.09 |
| VUG Fell shortVanguard Morningstar Growth ETF | 0/5 short2/3 long | −4.2% | +1.8% | +5.2% | +7.9% | +9.2% | +96.1% | +75.4% | +407% | 22.6%1.3× SPY | 0.61 |
| DGRO Fell shortiShares Core Dividend Growth ETF | 5/5 short0/3 long | +4.3% | +4.5% | +11.1% | +16.6% | +20.1% | +77.8% | +69.6% | +270% | 13.7%0.8× SPY | 0.84 |
| SCHD Fell shortSchwab U.S. Dividend Equity ETF | 5/5 short0/3 long | +5.8% | +8.5% | +16.0% | +30.8% | +35.7% | +72.3% | +62.8% | +256% | 14.4%0.8× SPY | 0.75 |
| VTV Fell shortVanguard Morningstar Value ETF | 5/5 short0/3 long | +2.7% | +3.8% | +12.7% | +19.3% | +23.9% | +80.9% | +78.0% | +237% | 13.7%0.8× SPY | 0.91 |
| RSP Fell shortInvesco S&P 500 Equal Weight ETF | 5/5 short0/3 long | +2.5% | +3.0% | +8.6% | +14.5% | +16.8% | +68.3% | +49.6% | +214% | 16.1%0.9× SPY | 0.58 |
| VYM Fell shortVanguard High Dividend Yield ETF | 3/5 short0/3 long | +2.5% | +1.2% | +6.3% | +14.3% | +18.5% | +75.9% | +72.8% | +209% | 13.8%0.8× SPY | 0.87 |
| DIA Fell shortState Street SPDR Dow Jones Industrial Average ETF Trust | 1/5 short0/3 long | +1.9% | +1.6% | +7.4% | +10.4% | +15.0% | +68.1% | +61.3% | +251% | 14.8%0.9× SPY | 0.72 |
| VOO Same indexVanguard S&P 500 ETF | ≈ Same returns | −1.2% | +2.5% | +8.0% | +12.7% | +15.7% | +88.8% | +80.8% | +319% | 16.9%1.0× SPY | 0.79 |
| IVV Same indexiShares Core S&P 500 ETF | ≈ Same returns | −1.2% | +2.5% | +8.0% | +12.8% | +15.7% | +88.8% | +80.8% | +319% | 17.0%1.0× SPY | 0.79 |
| VTI Fell shortVanguard Morningstar Total Stock Market ETF | 0/5 short0/3 long | −1.4% | +1.9% | +7.3% | +12.4% | +15.3% | +87.3% | +71.5% | +298% | 17.5%1.0× SPY | 0.71 |
| SCHB Fell shortSchwab U.S. Broad Market ETF | 0/5 short0/3 long | −1.5% | +1.8% | +7.3% | +12.4% | +15.2% | +87.3% | +71.6% | +282% | 17.3%1.0× SPY | 0.71 |
| VT Fell shortVanguard Total World Stock ETF | 0/5 short0/3 long | −2.9% | +0.6% | +4.9% | +11.1% | +14.9% | +82.6% | +62.0% | +220% | 16.2%0.9× SPY | 0.68 |
| IWM Fell shortiShares Russell 2000 ETF | 0/5 short0/3 long | −3.7% | −5.6% | +0.6% | +12.0% | +14.8% | +73.3% | +29.4% | +157% | 22.4%1.3× SPY | 0.34 |
| VXUS Fell shortVanguard Total International Stock ETF | 0/5 short0/3 long | −5.4% | −1.9% | +0.8% | +8.9% | +14.3% | +75.1% | +47.2% | +137% | 16.4%1.0× SPY | 0.56 |
ETFs that consistently outperformed SPY
Top 15 by long-term periods outperformed, then short-term, then by 10Y return. Green cells outperformed SPY in that period. Excludes leveraged and inverse funds, ETFs under $100M in assets, stocks under $2.0B in market cap, and anything without 10 years of history.
| # | Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | Expense | Assets | |||
| — | SPY State Street SPDR S&P 500 ETF (benchmark) | — | −1.2% | +2.5% | +8.0% | +12.7% | +15.6% | +88.4% | +80.3% | +316% | 17.2% | 0.78 | ||
| 1 | CIBR TechnologyFirst Trust Nasdaq Cybersecurity ETF | 5/5 short3/3 longAll-weather | +0.2% | +15.1% | +49.3% | +45.8% | +35.2% | +134% | +96.7% | +461% | 26.2%1.5× SPY | 0.65 | 0.58% | $17B |
| 2 | UGA CommoditiesUnited States Gasoline Fund, LP | 5/5 short3/3 longAll-weather | −0.6% | +16.0% | +32.8% | +132% | +125% | +117% | +227% | +401% | 35.1%2.0× SPY | 0.85 | 1.08% | $167M |
| 3 | HACK TechnologyAmplify Cybersecurity ETF | 5/5 short3/3 longAll-weather | +0.6% | +15.7% | +51.5% | +54.8% | +42.0% | +142% | +87.4% | +381% | 25.8%1.5× SPY | 0.62 | 0.60% | $3.3B |
| 4 | BNO CommoditiesUnited States Brent Oil Fund LP | 5/5 short3/3 longAll-weather | +19.0% | +34.0% | +36.4% | +144% | +139% | +118% | +205% | +359% | 37.1%2.2× SPY | 0.79 | 1.15% | $768M |
| 5 | RSPT TechnologyInvesco S&P 500 Equal Weight Technology ETF | 4/5 short3/3 longAll-weather | −3.9% | +6.2% | +21.6% | +40.0% | +43.0% | +141% | +116% | +559% | 25.1%1.5× SPY | 0.74 | 0.40% | $6.1B |
| 6 | SMH TechnologyVanEck Semiconductor ETF | 3/5 short3/3 long | −13.8% | −10.8% | +9.8% | +40.2% | +55.0% | +272% | +304% | +1,570% | 37.0%2.2× SPY | 0.94 | 0.35% | $66B |
| 7 | SOXX Broad MarketiShares Semiconductor ETF | 3/5 short3/3 long | −17.0% | −14.3% | +10.3% | +51.9% | +68.0% | +219% | +221% | +1,297% | 39.0%2.3× SPY | 0.80 | 0.33% | $39B |
| 8 | FTXL TechnologyFirst Trust Nasdaq Semiconductor ETF | 3/5 short3/3 long | −16.0% | −12.2% | +9.3% | +56.8% | +81.8% | +234% | +220% | +1,019% | 39.0%2.3× SPY | 0.79 | 0.60% | $1.2B |
| 9 | IYW Broad MarketiShares U.S. Technology ETF | 3/5 short3/3 long | −6.4% | +2.4% | +16.3% | +24.7% | +26.1% | +138% | +135% | +773% | 26.7%1.6× SPY | 0.78 | 0.37% | $24B |
| 10 | VGT TechnologyVanguard Information Technology ETF | 3/5 short3/3 long | −6.1% | +2.7% | +15.4% | +25.9% | +26.7% | +135% | +130% | +753% | 26.1%1.5× SPY | 0.77 | 0.09% | $178B |
| 11 | XLK TechnologyState Street Technology Select Sector SPDR ETF | 3/5 short3/3 long | −7.1% | +1.3% | +15.6% | +26.8% | +28.4% | +126% | +139% | +741% | 26.1%1.5× SPY | 0.80 | 0.08% | $125B |
| 12 | FTEC TechnologyFidelity MSCI Information Technology Index ETF | 3/5 short3/3 long | −6.1% | +2.6% | +15.4% | +25.9% | +26.9% | +136% | +132% | +737% | 26.1%1.5× SPY | 0.78 | 0.08% | $22B |
| 13 | IXN InternationaliShares Global Tech ETF | 3/5 short3/3 long | −8.8% | −0.5% | +14.3% | +28.7% | +31.1% | +140% | +137% | +693% | 26.2%1.5× SPY | 0.79 | 0.37% | $9.1B |
| 14 | XNTK TechnologyState Street SPDR NYSE Technology ETF | 3/5 short3/3 long | −10.3% | −1.9% | +13.0% | +23.3% | +24.8% | +159% | +115% | +691% | 29.3%1.7× SPY | 0.67 | 0.35% | $2.0B |
| 15 | IGM Broad MarketiShares Expanded Tech Sector ETF | 3/5 short3/3 long | −7.9% | +0.2% | +11.0% | +21.4% | +23.1% | +149% | +126% | +686% | 26.6%1.5× SPY | 0.75 | 0.37% | $11B |
Stocks that consistently outperformed SPY
Top 10 by long-term periods outperformed, then short-term, then by 10Y return. Individual stocks swing far more than funds; check the volatility column.
| # | Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Company | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | Market cap | |||
| — | SPY State Street SPDR S&P 500 ETF (benchmark) | — | −1.2% | +2.5% | +8.0% | +12.7% | +15.6% | +88.4% | +80.3% | +316% | 17.2% | 0.78 | |
| 1 | NTRA Medical - Diagnostics & ResearchNatera, Inc. | 5/5 short3/3 longAll-weather | +2.7% | +51.9% | +93.2% | +75.4% | +113% | +901% | +249% | +3,934% | 57.6%3.4× SPY | 0.73 | $58B |
| 2 | BWLP Marine ShippingBW LPG Limited | 5/5 short3/3 longAll-weather | +1.2% | +20.7% | +46.1% | +116% | +129% | +232% | +966% | +2,648% | 50.9%3.0× SPY | 1.19 | $3.8B |
| 3 | MEDP Medical - Diagnostics & ResearchMedpace Holdings, Inc. | 5/5 short3/3 longAll-weather | +3.8% | +23.8% | +28.6% | +14.5% | +19.6% | +187% | +250% | +2,003% | 52.1%3.0× SPY | 0.73 | $18B |
| 4 | LLY Drug Manufacturers - GeneralEli Lilly and Company | 5/5 short3/3 longAll-weather | +11.7% | +12.5% | +42.3% | +21.5% | +61.9% | +131% | +461% | +1,870% | 32.8%1.9× SPY | 1.22 | $1.2T |
| 5 | COKE Beverages - Non-AlcoholicCoca-Cola Consolidated, Inc. | 5/5 short3/3 longAll-weather | +12.5% | +16.7% | +15.1% | +44.1% | +67.4% | +257% | +468% | +1,564% | 38.0%2.2× SPY | 1.11 | $14B |
| 6 | MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 5/5 short3/3 longAll-weather | +17.9% | +45.8% | +108% | +181% | +148% | +226% | +660% | +1,314% | 33.4%1.9× SPY | 1.39 | $129B |
| 7 | CVI Oil & Gas Refining & MarketingCVR Energy, Inc. | 5/5 short3/3 longAll-weather | +12.5% | +68.6% | +88.5% | +134% | +62.6% | +105% | +289% | +1,306% | 52.4%3.1× SPY | 0.79 | $5.9B |
| 8 | WSM Specialty RetailWilliams-Sonoma, Inc. | 5/5 short3/3 longAll-weather | +12.4% | +17.7% | +33.1% | +40.7% | +40.7% | +249% | +202% | +1,298% | 44.4%2.6× SPY | 0.72 | $31B |
| 9 | FRO Marine ShippingFrontline Plc | 5/5 short3/3 longAll-weather | +6.9% | +41.8% | +62.0% | +182% | +148% | +222% | +762% | +1,270% | 49.7%2.9× SPY | 1.12 | $11B |
| 10 | HALO BiotechnologyHalozyme Therapeutics, Inc. | 5/5 short3/3 longAll-weather | +8.2% | +60.0% | +82.1% | +77.1% | +89.4% | +258% | +220% | +1,255% | 40.4%2.4× SPY | 0.78 | $14B |
What stands out
The ETF results were concentrated in technology, especially cybersecurity and semiconductors, while commodities also produced several consistent standouts. CIBR and HACK outperformed across all listed short- and long-term periods, while SMH and SOXX outperformed in all 3 long-term periods but only 3 of 5 short-term periods. That pattern suggests their lead held up over longer windows, though not every recent window.
The stocks came from a wider mix of sectors, including healthcare, industrials, consumer staples, and energy. Still, the risk figures show that outperformance came with a bumpier ride: none of the top ETFs or stocks was less volatile than SPY over 5 years. Higher Sharpe ratios for about half of the ETFs and most of the stocks indicate that many, but not all, delivered enough added return relative to risk to improve on SPY’s risk-adjusted result.
Methodology
- Short-term periods: 1M, 3M, 6M, YTD, 1Y. Long-term periods: 3Y, 5Y, 10Y. An investment outperformed a period when its total return, with dividends reinvested, was higher than SPY's. Returns within 0.5 points or 3% of SPY's (whichever is larger) count as a tie and are shown in gray.
- Consistent means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods, so a recent hot streak alone is not enough. All-weather means outperforming in every long-term period and all but one short-term period. Rankings use long-term periods outperformed, then short-term, then the 10Y return.
- Excludes leveraged and inverse funds, ETFs under $100M in assets, stocks under $2.0B in market cap, and anything without 10 years of history.
- 3 ETFs that track essentially the same returns as SPY (VOO, IVV, SPYM) are excluded, since tiny fee differences decide whether they finish ahead.
- Volatility is the annualized standard deviation of daily returns over 5 years. The Sharpe ratio is return above cash divided by volatility over the same period: higher means more return per unit of risk.
- Returns and risk figures are computed from daily adjusted prices and update with each market day. Past performance does not predict future results.