CLIP vs SPY
Global X 1-3 Month T-Bill ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
CLIP has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | CLIP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.07% | 0.09% | |
| AUM | $2.6B | $789.1B | |
| Dividend Yield | 3.90% | 1.01% | |
| Holdings | 28 | 505 | |
| YTD Return | +1.86% | +13.39% | |
| 1Y Return | +3.53% | +22.52% | |
| 3Y Return (annualized) | +4.25% | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 0.5% | 15.3% | |
| Max Drawdown | -0.3% | -56.5% | |
| Fund Family | Global X by mirae Asset | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jun 20, 2023 | Jan 22, 1993 |
CLIP vs SPY Performance
Global X 1-3 Month T-Bill ETF (CLIP) is a ETF from Global X by mirae Asset and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CLIP returned +3.53% while SPY returned +22.52%. Year to date, CLIP is up 1.86% versus a gain of 13.39% for SPY.
Over three years, CLIP compounded at +4.25% per year against +21.36% for SPY. Across the full 3-year window we track, SPY has the edge at +8.84% annualized vs +4.29%. 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 0.5% for CLIP. 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 -0.3% for CLIP 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 0.15. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CLIP charges 0.07% per year while SPY charges 0.09%. On a $10,000 position that is $7 vs $9 annually, a gap of $2 per year that compounds over a long holding period. On income, CLIP currently yields 3.90% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, CLIP or SPY?
CLIP has an expense ratio of 0.07% while SPY charges 0.09%. CLIP is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, CLIP or SPY?
Over the past year CLIP returned +3.53% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), CLIP annualized +4.29% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, CLIP or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 0.5% for CLIP. Worst drawdown: CLIP -0.3% vs SPY -56.5%.
Should I hold both CLIP and SPY?
CLIP and SPY have a monthly-return correlation of 0.15, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, CLIP or SPY?
CLIP yields 3.90% while SPY yields 1.01%, so CLIP currently pays the higher dividend yield.
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