FTHI vs SPY
First Trust BuyWrite Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FTHI or SPY?
Long-Short Strategy against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. FTHI is less concentrated, with 33.2% of the fund in its ten largest positions against 38.0%.
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 | FTHI | SPY |
|---|---|---|
| Expense Ratio | 0.75% | 0.09%Best |
| AUM | $2.5B | $814.4B |
| Dividend Yield | 8.89% | 1.01% |
| Holdings | 352 | 505 |
| YTD Return | +7.29% | +13.34%Best |
| 1Y Return | +11.37% | +19.97%Best |
| 3Y Return (annualized) | +13.90% | +21.20%Best |
| 5Y Return (annualized) | +10.96% | +12.81%Best |
| Volatility (annualized) | 11.4%Best | 14.6% |
| Max Drawdown | -35.5% | -34.1%Best |
| $10,000 over 5 years | $16,820 | $18,270Best |
| Top 10 Weight | 33.2%Best | 38.0% |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Long-Short Strategy | Large Cap Blend |
| Inception | Jan 6, 2014 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jan 7, 2014 to Sep 4, 2026 (12.7 years).
FTHI 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 12.7 years both funds cover.
FTHI vs SPY Performance
First Trust BuyWrite Income ETF (FTHI) is an ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FTHI returned +11.37% while SPY returned +19.97%. Year to date, FTHI is up 7.29% versus a gain of 13.34% for SPY.
Over three years, FTHI compounded at +13.90% per year against +21.20% for SPY; over five years the annualized figures are +10.96% and +12.81% respectively. Across the full 13-year window we track, SPY has the edge at +12.66% annualized vs +5.05%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 11.4% for FTHI. 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 -35.5% for FTHI and -34.1% 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 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FTHI charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, FTHI currently yields 8.89% against 1.01% for SPY.
Holdings Overlap
73.4% of FTHI's money is in holdings SPY also owns. 60.4% of SPY's money is in holdings FTHI also owns.
Most of FTHI is already inside SPY. Owning both mostly buys the same companies twice.
91 positions in common, counted across the 168 positions we hold weights for in FTHI and 504 in SPY, against full books of 352 and 505.
What only one of them owns
Our book lists 405 positions for SPY that do not appear in our book for FTHI (39.1% of the fund), and 48 for FTHI that do not appear in SPY (12.7%).
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.
Top Shared Holdings
| Stock | Weight in FTHI | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 7.47% | 6.83% | 0.64% |
| NVDANvidia Corp. | 5.89% | 7.71% | 1.82% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 2.42% | 5.50% | 3.08% |
| AMZNAmazon.Com Inc | 2.67% | 4.08% | 1.41% |
| GOOGLAlphabet Inc.Class A | 2.16% | 3.33% | 1.17% |
| AVGOBroadcom Inc | 2.41% | 2.97% | 0.56% |
| GOOGAlphabet Inc. C | 1.81% | 2.67% | 0.86% |
| JPMJpmorgan Chase | 2.78% | 1.44% | 1.34% |
| METAMeta Platform Inc | 1.21% | 1.94% | 0.73% |
| BACBank of America Corp.: Financials | 2.49% | 0.62% | 1.87% |
73.4% of FTHI 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, FTHI or SPY?
FTHI has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option, by $66 a year on a $10,000 investment.
Which performed better, FTHI or SPY?
Over the past year FTHI returned +11.37% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (13 years), FTHI annualized +5.05% vs +12.66% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FTHI or SPY?
SPY has been the more volatile fund at 14.6% annualized versus 11.4% for FTHI. Worst drawdown: FTHI -35.5% vs SPY -34.1%.
Should I hold both FTHI and SPY?
FTHI and SPY have a monthly-return correlation of 0.88, 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 FTHI and SPY?
73.4% of FTHI's money is in holdings SPY also owns. 60.4% of SPY's is in holdings FTHI also owns. They hold 91 positions in common, counted across the 168 positions we hold weights for in FTHI and 504 in SPY.
Which pays a higher dividend, FTHI or SPY?
FTHI yields 8.89% while SPY yields 1.01%, so FTHI currently pays the higher dividend yield.
Is SPY better than FTHI?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. FTHI is less concentrated, with 33.2% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.