FTMA vs SPY
Franklin Massachusetts Municipal Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FTMA or SPY?
Municipal Massachusetts 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 | FTMA | SPY |
|---|---|---|
| Expense Ratio | 0.35% | 0.09%Best |
| AUM | $277M | $797.9B |
| Dividend Yield | 3.35% | 1.00% |
| Holdings | 429 | 504 |
| YTD Return | -0.27% | +11.28%Best |
| 1Y Return | +0.23% | +13.46%Best |
| 3Y Return (annualized) | - | +20.37% |
| 5Y Return (annualized) | - | +11.54% |
| Volatility (annualized) | 6.0%Best | 13.3% |
| Max Drawdown | -6.8%Best | -8.9% |
| $10,000 over 1 years | $10,018 | $11,180Best |
| Fund Family | Franklin Templeton Investments (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Municipal Massachusetts | Large Cap Blend |
| Inception | Oct 23, 1989 | 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: Nov 10, 2025 to Nov 13, 2026 (1 years).
FTMA 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.
FTMA vs SPY Performance
Franklin Massachusetts Municipal Income ETF (FTMA) 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 FTMA returned +0.23% while SPY returned +13.46%. Year to date, FTMA is down 0.27% 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 13.3% compared with 6.0% for FTMA. 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 -6.8% for FTMA 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
FTMA 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, FTMA currently yields 3.35% against 1.00% for SPY.
Holdings Overlap
We hold position weights for 26 holdings in FTMA and 502 in SPY, totalling 16.8% 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 26 positions we hold weights for in FTMA and 502 in SPY, against full books of 429 and 504.
You are not choosing between two funds in isolation.
Whichever of FTMA 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, FTMA or SPY?
FTMA 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, FTMA or SPY?
Over the past year FTMA returned +0.23% vs +13.46% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), FTMA annualized +0.18% vs +11.80% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FTMA or SPY?
SPY has been the more volatile fund at 13.3% annualized versus 6.0% for FTMA. Worst drawdown: FTMA -6.8% vs SPY -8.9%.
Should I hold both FTMA and SPY?
FTMA 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, FTMA or SPY?
FTMA yields 3.35% while SPY yields 1.00%, so FTMA currently pays the higher dividend yield.
Is SPY better than FTMA?
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.