BMAR vs SPY
Innovator US Equity Buffer ETF - March vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | BMAR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $261M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +11.30% | +14.24% | |
| 1Y Return | +17.13% | +21.71% | |
| 3Y Return (annualized) | +16.82% | +22.10% | |
| 5Y Return (annualized) | +12.04% | +13.21% | |
| Volatility (annualized) | 10.0% | 15.3% | |
| Max Drawdown | -21.4% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Feb 28, 2020 | Jan 22, 1993 |
BMAR vs SPY Performance
Innovator US Equity Buffer ETF - March (BMAR) is a ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BMAR returned +17.13% while SPY returned +21.71%. Year to date, BMAR is up 11.30% versus a gain of 14.24% for SPY.
Over three years, BMAR compounded at +16.82% per year against +22.10% for SPY; over five years the annualized figures are +12.04% and +13.21% respectively. Across the full 7-year window we track, BMAR has the edge at +13.08% annualized vs +8.86%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 10.0% for BMAR. 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 -21.4% for BMAR and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BMAR charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, BMAR currently yields 0.00% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, BMAR or SPY?
BMAR has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, BMAR or SPY?
Over the past year BMAR returned +17.13% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (7 years), BMAR annualized +13.08% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, BMAR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 10.0% for BMAR. Worst drawdown: BMAR -21.4% vs SPY -56.5%.
Should I hold both BMAR and SPY?
BMAR and SPY have a monthly-return correlation of 0.96, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
Which pays a higher dividend, BMAR or SPY?
BMAR yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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