CUT vs SPY
Invesco MSCI Global Timber ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CUT or SPY?
Mid 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 38.0% of the fund in its ten largest positions against 52.1%.
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 | CUT | SPY |
|---|---|---|
| Expense Ratio | 0.76% | 0.09%Best |
| AUM | $32M | $814.4B |
| Dividend Yield | 2.39% | 1.01% |
| Holdings | 65 | 505 |
| YTD Return | +1.03% | +13.34%Best |
| 1Y Return | -0.46% | +19.97%Best |
| 3Y Return (annualized) | +1.13% | +21.20%Best |
| 5Y Return (annualized) | -3.78% | +12.81%Best |
| Volatility (annualized) | 22.9% | 15.7%Best |
| Max Drawdown | -70.0% | -55.2%Best |
| $10,000 over 5 years | $8,248 | $18,270Best |
| Top 10 Weight | 52.1% | 38.0%Best |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Nov 9, 2007 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 9, 2007 to Sep 4, 2026 (18.8 years).
CUT 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 18.8 years both funds cover.
CUT vs SPY Performance
Invesco MSCI Global Timber ETF (CUT) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CUT returned -0.46% while SPY returned +19.97%. Year to date, CUT is up 1.03% versus a gain of 13.34% for SPY.
Over three years, CUT compounded at +1.13% per year against +21.20% for SPY; over five years the annualized figures are -3.78% and +12.81% respectively. Across the full 19-year window we track, SPY has the edge at +9.70% annualized vs +2.93%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CUT has been the more volatile fund, with annualized monthly volatility of 22.9% 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 -70.0% for CUT and -55.2% 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CUT charges 0.76% per year while SPY charges 0.09%. On a $10,000 position that is $76 vs $9 annually, a gap of $67 per year that compounds over a long holding period. On income, CUT currently yields 2.39% against 1.01% for SPY.
Holdings Overlap
33.8% of CUT's money is in holdings SPY also owns. 0.2% of SPY's money is in holdings CUT also owns.
The two portfolios partly overlap.
6 positions in common, counted across the 52 positions we hold weights for in CUT and 504 in SPY, against full books of 65 and 505.
What only one of them owns
Our book lists 490 positions for SPY that do not appear in our book for CUT (99.3% of the fund), and 5 for CUT that do not appear in SPY (12.4%).
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.
33.8% of CUT 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, CUT or SPY?
CUT has an expense ratio of 0.76% while SPY charges 0.09%. SPY is the cheaper option, by $67 a year on a $10,000 investment.
Which performed better, CUT or SPY?
Over the past year CUT returned -0.46% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (19 years), CUT annualized +2.93% vs +9.70% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CUT or SPY?
CUT has been the more volatile fund at 22.9% annualized versus 15.7% for SPY. Worst drawdown: CUT -70.0% vs SPY -55.2%.
Should I hold both CUT and SPY?
CUT and SPY have a monthly-return correlation of 0.80, 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 CUT and SPY?
33.8% of CUT's money is in holdings SPY also owns. 0.2% of SPY's is in holdings CUT also owns. They hold 6 positions in common, counted across the 52 positions we hold weights for in CUT and 504 in SPY.
Which pays a higher dividend, CUT or SPY?
CUT yields 2.39% while SPY yields 1.01%, so CUT currently pays the higher dividend yield.
Is SPY better than CUT?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 52.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.