FTKI vs SPY
First Trust Small Cap BuyWrite Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FTKI or SPY?
Small Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. FTKI led over 1Y, SPY over the full window. FTKI is less concentrated, with 20.8% of the fund in its ten largest positions against 37.8%.
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 | FTKI | SPY |
|---|---|---|
| Expense Ratio | 0.86% | 0.09%Best |
| AUM | $26M | $804.7B |
| Dividend Yield | 12.26% | 0.98% |
| Holdings | 300 | 505 |
| YTD Return | +12.18%Best | +12.09% |
| 1Y Return | +16.81%Best | +16.29% |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +13.37% |
| Volatility (annualized) | 10.4%Best | 13.1% |
| Max Drawdown | -15.2%Best | -16.2% |
| $10,000 over 1.6 years | $11,848 | $13,350Best |
| Top 10 Weight | 20.8%Best | 37.8% |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | Feb 26, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.6 years row, are measured over the window both funds cover: Feb 27, 2025 to Sep 18, 2026 (1.6 years).
FTKI 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 1.6 years both funds cover.
FTKI vs SPY Performance
First Trust Small Cap BuyWrite Income ETF (FTKI) 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 FTKI returned +16.81% while SPY returned +16.29%. Year to date, FTKI is up 12.18% versus a gain of 12.09% 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 13.1% compared with 10.4% for FTKI. 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 -15.2% for FTKI and -16.2% 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 0.41. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FTKI charges 0.86% per year while SPY charges 0.09%. On a $10,000 position that is $86 vs $9 annually, a gap of $77 per year that compounds over a long holding period. On income, FTKI currently yields 12.26% against 0.98% for SPY.
Holdings Overlap
0.1% of FTKI's money is in holdings SPY also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 144 positions we hold weights for in FTKI and 504 in SPY, against full books of 300 and 505.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for FTKI (99.3% of the fund), and 118 for FTKI that do not appear in SPY (82.4%).
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.
Top Shared Holdings
| Stock | Weight in FTKI | Weight in SPY | Difference |
|---|---|---|---|
| CASYCaseys General | 0.13% | 0.04% | 0.09% |
You are not choosing between two funds in isolation.
Whichever of FTKI 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, FTKI or SPY?
FTKI has an expense ratio of 0.86% while SPY charges 0.09%. SPY is the cheaper option, by $77 a year on a $10,000 investment.
Which performed better, FTKI or SPY?
Over the past year FTKI returned +16.81% vs +16.29% for SPY, so FTKI leads on 1-year performance. Over the longest common window we track (2 years), FTKI annualized +11.18% vs +19.79% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FTKI or SPY?
SPY has been the more volatile fund at 13.1% annualized versus 10.4% for FTKI. Worst drawdown: FTKI -15.2% vs SPY -16.2%.
Should I hold both FTKI and SPY?
FTKI and SPY have a monthly-return correlation of 0.41, 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, FTKI or SPY?
FTKI yields 12.26% while SPY yields 0.98%, so FTKI currently pays the higher dividend yield.
Is SPY better than FTKI?
SPY has a lower expense ratio. FTKI led over 1Y, SPY over the full window. FTKI is less concentrated, with 20.8% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.