CTEF vs SPY
Castellan Targeted Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. CTEF delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | CTEF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.45% | 0.09% | |
| AUM | $646M | $789.1B | |
| Dividend Yield | 0.05% | 1.01% | |
| Holdings | 45 | 505 | |
| YTD Return | +31.53% | +13.79% | |
| 1Y Return | +59.16% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 22.8% | 15.3% | |
| Max Drawdown | -15.0% | -56.5% | |
| Fund Family | Castellan ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 17, 2025 | Jan 22, 1993 |
CTEF vs SPY Performance
Castellan Targeted Equity ETF (CTEF) is a ETF from Castellan ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CTEF returned +59.16% while SPY returned +23.66%. Year to date, CTEF is up 31.53% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
CTEF has been the more volatile fund, with annualized monthly volatility of 22.8% 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 -15.0% for CTEF 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CTEF charges 0.45% per year while SPY charges 0.09%. On a $10,000 position that is $45 vs $9 annually, a gap of $36 per year that compounds over a long holding period. On income, CTEF currently yields 0.05% against 1.01% for SPY.
Holdings Overlap
CTEF and SPY share 13 holdings out of 513 unique holdings combined, representing a 10.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CTEF or SPY?
CTEF has an expense ratio of 0.45% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $36 per year of difference.
Which performed better, CTEF or SPY?
Over the past year CTEF returned +59.16% vs +23.66% for SPY, so CTEF leads on 1-year performance. Over the longest common window we track (1 years), CTEF annualized +66.72% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, CTEF or SPY?
CTEF has been the more volatile fund at 22.8% annualized versus 15.3% for SPY. Worst drawdown: CTEF -15.0% vs SPY -56.5%.
Should I hold both CTEF and SPY?
CTEF and SPY have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CTEF and SPY?
CTEF and SPY share 13 common holdings with a 10.0% weight overlap. Combined, they hold 513 unique securities.
Which pays a higher dividend, CTEF or SPY?
CTEF yields 0.05% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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