BGT vs SPY
BlackRock Floating Rate Income Trust vs State Street SPDR S&P 500 ETF Trust
Which is better, BGT or SPY?
Bank Loan against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BGT | SPY |
|---|---|---|
| Expense Ratio | 2.10% | 0.09%Best |
| AUM | $331M | $814.4B |
| Dividend Yield | 12.98% | 1.01% |
| Holdings | 485 | 505 |
| YTD Return | +6.64% | +13.34%Best |
| 1Y Return | +0.93% | +19.97%Best |
| 3Y Return (annualized) | +9.07% | +21.20%Best |
| 5Y Return (annualized) | +7.25% | +12.81%Best |
| Volatility (annualized) | 14.1%Best | 14.8% |
| Max Drawdown | -64.1% | -56.5%Best |
| $10,000 over 5 years | $14,190 | $18,270Best |
| Fund Family | BlackRock, Inc. (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Bank Loan | Large Cap Blend |
| Inception | Aug 30, 2004 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 6, 2004 to Sep 4, 2026 (21.9 years).
BGT vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
BGT vs SPY Performance
BlackRock Floating Rate Income Trust (BGT) is an ETF from BlackRock, Inc. (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BGT returned +0.93% while SPY returned +19.97%. Year to date, BGT is up 6.64% versus a gain of 13.34% for SPY.
Over three years, BGT compounded at +9.07% per year against +21.20% for SPY; over five years the annualized figures are +7.25% and +12.81% respectively. Across the full 22-year window we track, SPY has the edge at +9.45% annualized vs -0.20%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.8% compared with 14.1% for BGT. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -64.1% for BGT and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.59. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BGT charges 2.10% per year while SPY charges 0.09%. On a $10,000 position that is $210 vs $9 annually, a gap of $201 per year that compounds over a long holding period. On income, BGT currently yields 12.98% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 233 holdings in BGT and 504 in SPY, totalling 74.9% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 216 days apart, BGT as of Dec 31, 2025 and SPY as of Aug 4, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 233 positions we hold weights for in BGT and 504 in SPY, against full books of 485 and 505.
You are not choosing between two funds in isolation.
Whichever of BGT and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BGT or SPY?
BGT has an expense ratio of 2.10% while SPY charges 0.09%. SPY is the cheaper option, by $201 a year on a $10,000 investment.
Which performed better, BGT or SPY?
Over the past year BGT returned +0.93% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (22 years), BGT annualized -0.20% vs +9.45% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BGT or SPY?
SPY has been the more volatile fund at 14.8% annualized versus 14.1% for BGT. Worst drawdown: BGT -64.1% vs SPY -56.5%.
Should I hold both BGT and SPY?
BGT and SPY have a monthly-return correlation of 0.59, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BGT or SPY?
BGT yields 12.98% while SPY yields 1.01%, so BGT currently pays the higher dividend yield.
Is SPY better than BGT?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.