CTIF vs SPY
Castellan Targeted Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | CTIF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.45% | 0.09% | |
| AUM | $203M | $821.1B | |
| Dividend Yield | 4.76% | 1.01% | |
| Holdings | 45 | 505 | |
| YTD Return | +7.80% | +13.17% | |
| 1Y Return | +8.66% | +21.53% | |
| 3Y Return (annualized) | - | +22.06% | |
| 5Y Return (annualized) | - | +13.35% | |
| Volatility (annualized) | 11.3% | 15.3% | |
| Max Drawdown | -10.6% | -56.5% | |
| Fund Family | Castellan ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 24, 2025 | Jan 22, 1993 |
CTIF vs SPY Performance
Castellan Targeted Income ETF (CTIF) 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 CTIF returned +8.66% while SPY returned +21.53%. Year to date, CTIF is up 7.80% versus a gain of 13.17% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 11.3% for CTIF. 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 -10.6% for CTIF 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CTIF 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, CTIF currently yields 4.76% against 1.01% for SPY.
Holdings Overlap
CTIF and SPY share 18 holdings out of 509 unique holdings combined, representing a 9.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CTIF or SPY?
CTIF 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, CTIF or SPY?
Over the past year CTIF returned +8.66% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), CTIF annualized +10.30% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, CTIF or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 11.3% for CTIF. Worst drawdown: CTIF -10.6% vs SPY -56.5%.
Should I hold both CTIF and SPY?
CTIF and SPY have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CTIF and SPY?
CTIF and SPY share 18 common holdings with a 9.6% weight overlap. Combined, they hold 509 unique securities.
Which pays a higher dividend, CTIF or SPY?
CTIF yields 4.76% while SPY yields 1.01%, so CTIF currently pays the higher dividend yield.
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