CTEF vs SPY
Castellan Targeted Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CTEF or SPY?
CTEF has been ahead.
SPY has a lower expense ratio. CTEF led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 51.2%.
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 | CTEF | SPY |
|---|---|---|
| Expense Ratio | 0.45% | 0.09%Best |
| AUM | $651M | $814.4B |
| Dividend Yield | 0.06% | 1.01% |
| Holdings | 47 | 505 |
| YTD Return | +31.14%Best | +13.34% |
| 1Y Return | +49.04%Best | +19.97% |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +12.81% |
| Volatility (annualized) | 22.4% | 11.8%Best |
| Max Drawdown | -15.0% | -8.9%Best |
| $10,000 over 1.2 years | $17,713Best | $13,035 |
| Top 10 Weight | 51.2% | 38.0%Best |
| Fund Family | Castellan ETFs | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 17, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jun 18, 2025 to Sep 4, 2026 (1.2 years).
CTEF 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 covers the 1.2 years both funds cover.
CTEF vs SPY Performance
Castellan Targeted Equity ETF (CTEF) is an ETF from Castellan ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CTEF returned +49.04% while SPY returned +19.97%. Year to date, CTEF is up 31.14% versus a gain of 13.34% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CTEF has been the more volatile fund, with annualized monthly volatility of 22.4% compared with 11.8% 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 -8.9% 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 0.69. They move together some of the time, and apart the rest.
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 0.06% against 1.01% for SPY.
Holdings Overlap
52.4% of CTEF's money is in holdings SPY also owns. 16.3% of SPY's money is in holdings CTEF also owns.
The two portfolios partly overlap.
13 positions in common, counted across the 23 positions we hold weights for in CTEF and 504 in SPY, against full books of 47 and 505.
What only one of them owns
Our book lists 483 positions for SPY that do not appear in our book for CTEF (83.1% of the fund), and 10 for CTEF that do not appear in SPY (46.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CTEF | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 4.13% | 7.71% | 3.58% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 2.58% | 5.50% | 2.92% |
| MUMicron Technology, Inc. | 5.29% | 1.51% | 3.78% |
| LRCXLrcx Uw Equity | 4.97% | 0.60% | 4.37% |
| FTNTFortinet Inc | 5.17% | 0.16% | 5.01% |
| FIXComfort Systems USA Inc. | 4.99% | 0.09% | 4.90% |
| EXPEExpedia Group Inc (consumer Discretionary) | 4.60% | 0.05% | 4.55% |
| JBLJabil, Inc. | 4.31% | 0.05% | 4.26% |
| WDCWestern Digital Corp Company Guar 11/28 3 | 4.04% | 0.28% | 3.76% |
| TPRTapestry Inc. | 3.72% | 0.05% | 3.67% |
52.4% of CTEF is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
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, by $36 a year on a $10,000 investment.
Which performed better, CTEF or SPY?
Over the past year CTEF returned +49.04% vs +19.97% for SPY, so CTEF leads on 1-year performance. Over the longest common window we track (1 years), CTEF annualized +61.03% vs +24.72% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CTEF or SPY?
CTEF has been the more volatile fund at 22.4% annualized versus 11.8% for SPY. Worst drawdown: CTEF -15.0% vs SPY -8.9%.
Should I hold both CTEF and SPY?
CTEF and SPY have a monthly-return correlation of 0.69, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CTEF and SPY?
52.4% of CTEF's money is in holdings SPY also owns. 16.3% of SPY's is in holdings CTEF also owns. They hold 13 positions in common, counted across the 23 positions we hold weights for in CTEF and 504 in SPY.
Which pays a higher dividend, CTEF or SPY?
CTEF yields 0.06% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Is SPY better than CTEF?
SPY has a lower expense ratio. CTEF led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 51.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.