CANC vs SPY
Tema Oncology ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. CANC delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | CANC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.09% | |
| AUM | $196M | $789.1B | |
| Dividend Yield | 0.05% | 1.01% | |
| Holdings | 56 | 505 | |
| YTD Return | +24.52% | +13.68% | |
| 1Y Return | +68.53% | +21.53% | |
| 3Y Return (annualized) | +22.28% | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 19.3% | 15.3% | |
| Max Drawdown | -26.1% | -56.5% | |
| Fund Family | Tema Global Limited | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 15, 2023 | Jan 22, 1993 |
CANC vs SPY Performance
Tema Oncology ETF (CANC) is a ETF from Tema Global Limited and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CANC returned +68.53% while SPY returned +21.53%. Year to date, CANC is up 24.52% versus a gain of 13.68% for SPY.
Over three years, CANC compounded at +22.28% per year against +21.44% for SPY. Across the full 3-year window we track, CANC has the edge at +22.28% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CANC has been the more volatile fund, with annualized monthly volatility of 19.3% compared with 15.3% for SPY. 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 -26.1% for CANC 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 0.45. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CANC charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, CANC currently yields 0.05% against 1.01% for SPY.
Holdings Overlap
CANC and SPY share 8 holdings out of 552 unique holdings combined, representing a 4.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CANC or SPY?
CANC has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, CANC or SPY?
Over the past year CANC returned +68.53% vs +21.53% for SPY, so CANC leads on 1-year performance. Over the longest common window we track (3 years), CANC annualized +22.28% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, CANC or SPY?
CANC has been the more volatile fund at 19.3% annualized versus 15.3% for SPY. Worst drawdown: CANC -26.1% vs SPY -56.5%.
Should I hold both CANC and SPY?
CANC and SPY have a monthly-return correlation of 0.45, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CANC and SPY?
CANC and SPY share 8 common holdings with a 4.4% weight overlap. Combined, they hold 552 unique securities.
Which pays a higher dividend, CANC or SPY?
CANC yields 0.05% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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