HTD vs SPY
John Hancock Tax-Advantaged Dividend Income Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | HTD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.96% | 0.09% | |
| AUM | $917M | $821.1B | |
| Dividend Yield | 7.17% | 1.01% | |
| Holdings | 124 | 505 | |
| YTD Return | +12.74% | +12.93% | |
| 1Y Return | +12.83% | +20.62% | |
| 3Y Return (annualized) | +19.21% | +22.00% | |
| 5Y Return (annualized) | +8.47% | +13.33% | |
| Volatility (annualized) | 19.3% | 15.3% | |
| Max Drawdown | -75.5% | -56.5% | |
| Fund Family | John Hancock Investment Management | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Feb 27, 2004 | Jan 22, 1993 |
HTD vs SPY Performance
John Hancock Tax-Advantaged Dividend Income Fund (HTD) is a ETF from John Hancock Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year HTD returned +12.83% while SPY returned +20.62%. Year to date, HTD is up 12.74% versus a gain of 12.93% for SPY.
Over three years, HTD compounded at +19.21% per year against +22.00% for SPY; over five years the annualized figures are +8.47% and +13.33% respectively. Across the full 22-year window we track, SPY has the edge at +8.82% annualized vs +3.01%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HTD has been the more volatile fund, with annualized monthly volatility of 19.3% 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 -75.5% for HTD and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.64. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
HTD charges 1.96% per year while SPY charges 0.09%. On a $10,000 position that is $196 vs $9 annually, a gap of $187 per year that compounds over a long holding period. On income, HTD currently yields 7.17% against 1.01% for SPY.
Holdings Overlap
HTD and SPY share 39 holdings out of 538 unique holdings combined, representing a 4.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, HTD or SPY?
HTD has an expense ratio of 1.96% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $187 per year of difference.
Which performed better, HTD or SPY?
Over the past year HTD returned +12.83% vs +20.62% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (22 years), HTD annualized +3.01% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, HTD or SPY?
HTD has been the more volatile fund at 19.3% annualized versus 15.3% for SPY. Worst drawdown: HTD -75.5% vs SPY -56.5%.
Should I hold both HTD and SPY?
HTD and SPY have a monthly-return correlation of 0.64, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HTD and SPY?
HTD and SPY share 39 common holdings with a 4.3% weight overlap. Combined, they hold 538 unique securities.
Which pays a higher dividend, HTD or SPY?
HTD yields 7.17% while SPY yields 1.01%, so HTD currently pays the higher dividend yield.
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