FT vs SPY
Franklin Universal Trust vs State Street SPDR S&P 500 ETF Trust
Which is better, FT or SPY?
Debt-oriented balanced against Large Cap Blend.
FT has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
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 | FT | SPY |
|---|---|---|
| Expense Ratio | 0.00%Best | 0.09% |
| AUM | $212M | $804.7B |
| Dividend Yield | 5.95% | 0.98% |
| Holdings | 704 | 505 |
| YTD Return | -3.61% | +12.22%Best |
| 1Y Return | +0.54% | +16.97%Best |
| 3Y Return (annualized) | +10.23% | +21.16%Best |
| 5Y Return (annualized) | +4.35% | +13.00%Best |
| Volatility (annualized) | 15.5% | 15.3%Best |
| Max Drawdown | -70.3% | -56.5%Best |
| $10,000 over 5 years | $12,373 | $18,424Best |
| Fund Family | Franklin Templeton Investments (US) | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Debt-oriented balanced | Large Cap Blend |
| Inception | Sep 23, 1988 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 4, 1996 to Sep 17, 2026 (30.7 years).
FT 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
FT vs SPY Performance
Franklin Universal Trust (FT) is an ETF from Franklin Templeton Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FT returned +0.54% while SPY returned +16.97%. Year to date, FT is down 3.61% versus a gain of 12.22% for SPY.
Over three years, FT compounded at +10.23% per year against +21.16% for SPY; over five years the annualized figures are +4.35% and +13.00% respectively. Across the full 31-year window we track, SPY has the edge at +8.80% annualized vs +0.59%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FT has been the more volatile fund, with annualized monthly volatility of 15.5% 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 -70.3% for FT and -56.5% 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 0.54. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FT charges 0.00% per year while SPY charges 0.09%. On a $10,000 position that is $0 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, FT currently yields 5.95% against 0.98% for SPY.
Holdings Overlap
At least 1.9% of SPY's money is in holdings FT also owns.
Only one direction is shown: for FT, our book for it lists positions totalling 114.3% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
SPY and FT share little of their money.
The two holdings books were reported 185 days apart, FT as of Feb 28, 2026 and SPY as of Sep 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
25 positions in common, counted across the 307 positions we hold weights for in FT and 504 in SPY, against full books of 704 and 505.
Top Shared Holdings
| Stock | Weight in FT | Weight in SPY | Difference |
|---|---|---|---|
| NEENextera Energy Inc | 4.74% | 0.26% | 4.48% |
| SRESempra Common Stock | 3.81% | 0.08% | 3.73% |
| ETREntergy Corp. | 2.82% | 0.07% | 2.75% |
| EVRGEvergy Inc. | 2.65% | 0.03% | 2.62% |
| LNTAlliant Energy Corp. | 2.54% | 0.03% | 2.51% |
| DUKDuke Energy Corp | 2.30% | 0.14% | 2.16% |
| CNPCenterpoint Energy Inc. | 2.35% | 0.04% | 2.31% |
| SOSouthern Co. | 2.14% | 0.15% | 1.99% |
| AEPAmerican Electric Power Co Inc | 2.12% | 0.10% | 2.02% |
| CMSCms Energy Corp. | 2.06% | 0.03% | 2.03% |
You are not choosing between two funds in isolation.
Whichever of FT 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, FT or SPY?
FT has an expense ratio of 0.00% while SPY charges 0.09%. FT is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, FT or SPY?
Over the past year FT returned +0.54% vs +16.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (31 years), FT annualized +0.59% vs +8.80% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FT or SPY?
FT has been the more volatile fund at 15.5% annualized versus 15.3% for SPY. Worst drawdown: FT -70.3% vs SPY -56.5%.
Should I hold both FT and SPY?
FT and SPY have a monthly-return correlation of 0.54, 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 FT and SPY?
At least 1.9% of SPY's money is in holdings FT also owns. Our book for FT is partial, so the real figure is this or higher. They hold 25 positions in common, counted across the 307 positions we hold weights for in FT and 504 in SPY.
Which pays a higher dividend, FT or SPY?
FT yields 5.95% while SPY yields 0.98%, so FT currently pays the higher dividend yield.
Is SPY better than FT?
FT has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.