JANZ vs SPY
TrueShares Structured Outcome (January) ETF 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 | JANZ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.80% | 0.09% | |
| AUM | $43M | $821.1B | |
| Dividend Yield | 1.33% | 1.01% | |
| Holdings | 13 | 505 | |
| YTD Return | +9.20% | +12.22% | |
| 1Y Return | +13.44% | +20.83% | |
| 3Y Return (annualized) | +15.10% | +21.70% | |
| 5Y Return (annualized) | +9.72% | +12.98% | |
| Volatility (annualized) | 11.8% | 15.3% | |
| Max Drawdown | -18.1% | -56.5% | |
| Fund Family | TrueShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Dec 31, 2020 | Jan 22, 1993 |
JANZ vs SPY Performance
TrueShares Structured Outcome (January) ETF (JANZ) is a ETF from TrueShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year JANZ returned +13.44% while SPY returned +20.83%. Year to date, JANZ is up 9.20% versus a gain of 12.22% for SPY.
Over three years, JANZ compounded at +15.10% per year against +21.70% for SPY; over five years the annualized figures are +9.72% and +12.98% respectively. Across the full 6-year window we track, JANZ has the edge at +11.34% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 11.8% for JANZ. 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 -18.1% for JANZ 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 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JANZ charges 0.80% per year while SPY charges 0.09%. On a $10,000 position that is $80 vs $9 annually, a gap of $71 per year that compounds over a long holding period. On income, JANZ currently yields 1.33% against 1.01% for SPY.
Holdings Overlap
JANZ and SPY share 0 holdings out of 505 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, JANZ or SPY?
JANZ has an expense ratio of 0.80% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $71 per year of difference.
Which performed better, JANZ or SPY?
Over the past year JANZ returned +13.44% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), JANZ annualized +11.34% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, JANZ or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 11.8% for JANZ. Worst drawdown: JANZ -18.1% vs SPY -56.5%.
Should I hold both JANZ and SPY?
JANZ and SPY have a monthly-return correlation of 0.99, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between JANZ and SPY?
JANZ and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, JANZ or SPY?
JANZ yields 1.33% while SPY yields 1.01%, so JANZ currently pays the higher dividend yield.
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