FTCA vs SPY
Franklin California Municipal Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FTCA or SPY?
Municipal California against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y 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 | FTCA | SPY |
|---|---|---|
| Expense Ratio | 0.35% | 0.09%Best |
| AUM | $761M | $797.9B |
| Dividend Yield | 3.89% | 1.00% |
| Holdings | 356 | 504 |
| YTD Return | -1.13% | +11.28%Best |
| 1Y Return | -0.53% | +13.46%Best |
| 3Y Return (annualized) | - | +20.37% |
| 5Y Return (annualized) | - | +11.54% |
| Volatility (annualized) | 7.1%Best | 12.8% |
| Max Drawdown | -8.1%Best | -8.9% |
| $10,000 over 1 years | $9,923 | $11,076Best |
| Fund Family | Franklin Templeton Investments (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Municipal California | Large Cap Blend |
| Inception | Apr 29, 1993 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1 years row, are measured over the window both funds cover: Oct 27, 2025 to Nov 13, 2026 (1 years).
FTCA 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 years both funds cover.
FTCA vs SPY Performance
Franklin California Municipal Income ETF (FTCA) 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 FTCA returned -0.53% while SPY returned +13.46%. Year to date, FTCA is down 1.13% versus a gain of 11.28% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.8% compared with 7.1% for FTCA. 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 -8.1% for FTCA 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 0.27. They move largely independently of each other.
Fees and Cost Over Time
FTCA charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, FTCA currently yields 3.89% against 1.00% for SPY.
Holdings Overlap
We hold position weights for 64 holdings in FTCA and 502 in SPY, totalling 35.5% and 99.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 64 positions we hold weights for in FTCA and 502 in SPY, against full books of 356 and 504.
You are not choosing between two funds in isolation.
Whichever of FTCA 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, FTCA or SPY?
FTCA has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, FTCA or SPY?
Over the past year FTCA returned -0.53% vs +13.46% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), FTCA annualized -0.77% vs +10.76% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FTCA or SPY?
SPY has been the more volatile fund at 12.8% annualized versus 7.1% for FTCA. Worst drawdown: FTCA -8.1% vs SPY -8.9%.
Should I hold both FTCA and SPY?
FTCA and SPY have a monthly-return correlation of 0.27, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FTCA or SPY?
FTCA yields 3.89% while SPY yields 1.00%, so FTCA currently pays the higher dividend yield.
Is SPY better than FTCA?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.