CTEX vs SPY
Proshares S&P Kensho Cleantech ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CTEX or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 42.4%.
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 | CTEX | SPY |
|---|---|---|
| Expense Ratio | 0.58% | 0.09%Best |
| AUM | $5M | $804.7B |
| Dividend Yield | 2.33% | 0.98% |
| Holdings | 30 | 505 |
| YTD Return | -14.89% | +12.09%Best |
| 1Y Return | +9.59% | +16.29%Best |
| 3Y Return (annualized) | +7.13% | +21.20%Best |
| 5Y Return (annualized) | -4.23% | +13.37%Best |
| Volatility (annualized) | 41.9% | 15.7%Best |
| Max Drawdown | -70.3% | -24.5%Best |
| $10,000 over 5 years | $8,057 | $18,728Best |
| Top 10 Weight | 42.4% | 37.8%Best |
| Fund Family | ProShares | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Sep 29, 2021 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Sep 30, 2021 to Sep 18, 2026 (5 years).
CTEX 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 5 years both funds cover.
CTEX vs SPY Performance
Proshares S&P Kensho Cleantech ETF (CTEX) is an ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CTEX returned +9.59% while SPY returned +16.29%. Year to date, CTEX is down 14.89% versus a gain of 12.09% for SPY.
Over three years, CTEX compounded at +7.13% per year against +21.20% for SPY; over five years the annualized figures are -4.23% and +13.37% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CTEX has been the more volatile fund, with annualized monthly volatility of 41.9% compared with 15.7% 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 -70.3% for CTEX and -24.5% 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 0.65. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CTEX charges 0.58% per year while SPY charges 0.09%. On a $10,000 position that is $58 vs $9 annually, a gap of $49 per year that compounds over a long holding period. On income, CTEX currently yields 2.33% against 0.98% for SPY.
Holdings Overlap
18.3% of CTEX's money is in holdings SPY also owns. 2.1% of SPY's money is in holdings CTEX also owns.
CTEX and SPY share little of their money.
5 positions in common, counted across the 29 positions we hold weights for in CTEX and 504 in SPY, against full books of 30 and 505.
What only one of them owns
Our book lists 492 positions for SPY that do not appear in our book for CTEX (97.2% of the fund), and 19 for CTEX that do not appear in SPY (60.2%).
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.
You are not choosing between two funds in isolation.
Whichever of CTEX and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CTEX or SPY?
CTEX has an expense ratio of 0.58% while SPY charges 0.09%. SPY is the cheaper option, by $49 a year on a $10,000 investment.
Which performed better, CTEX or SPY?
Over the past year CTEX returned +9.59% vs +16.29% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CTEX or SPY?
CTEX has been the more volatile fund at 41.9% annualized versus 15.7% for SPY. Worst drawdown: CTEX -70.3% vs SPY -24.5%.
Should I hold both CTEX and SPY?
CTEX and SPY have a monthly-return correlation of 0.65, 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 CTEX and SPY?
18.3% of CTEX's money is in holdings SPY also owns. 2.1% of SPY's is in holdings CTEX also owns. They hold 5 positions in common, counted across the 29 positions we hold weights for in CTEX and 504 in SPY.
Which pays a higher dividend, CTEX or SPY?
CTEX yields 2.33% while SPY yields 0.98%, so CTEX currently pays the higher dividend yield.
Is SPY better than CTEX?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 42.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.