JOET vs SPY
Virtus Terranova US Quality Momentum 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 503 holdings.
Side-by-Side Comparison
| Metric | JOET | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.29% | 0.09% | |
| AUM | $241M | $789.1B | |
| Dividend Yield | 0.61% | 1.01% | |
| Holdings | 125 | 505 | |
| YTD Return | +11.42% | +13.68% | |
| 1Y Return | +14.08% | +21.53% | |
| 3Y Return (annualized) | +18.62% | +21.44% | |
| 5Y Return (annualized) | +9.72% | +13.18% | |
| Volatility (annualized) | 16.4% | 15.3% | |
| Max Drawdown | -26.6% | -56.5% | |
| Fund Family | Virtus Investment Partners | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 17, 2020 | Jan 22, 1993 |
JOET vs SPY Performance
Virtus Terranova US Quality Momentum ETF (JOET) is a ETF from Virtus Investment Partners and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year JOET returned +14.08% while SPY returned +21.53%. Year to date, JOET is up 11.42% versus a gain of 13.68% for SPY.
Over three years, JOET compounded at +18.62% per year against +21.44% for SPY; over five years the annualized figures are +9.72% and +13.18% respectively. Across the full 6-year window we track, JOET has the edge at +12.78% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JOET has been the more volatile fund, with annualized monthly volatility of 16.4% 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 -26.6% for JOET 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 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JOET charges 0.29% per year while SPY charges 0.09%. On a $10,000 position that is $29 vs $9 annually, a gap of $20 per year that compounds over a long holding period. On income, JOET currently yields 0.61% against 1.01% for SPY.
Holdings Overlap
JOET and SPY share 116 holdings out of 511 unique holdings combined, representing a 25.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, JOET or SPY?
JOET has an expense ratio of 0.29% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $20 per year of difference.
Which performed better, JOET or SPY?
Over the past year JOET returned +14.08% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), JOET annualized +12.78% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, JOET or SPY?
JOET has been the more volatile fund at 16.4% annualized versus 15.3% for SPY. Worst drawdown: JOET -26.6% vs SPY -56.5%.
Should I hold both JOET and SPY?
JOET and SPY have a monthly-return correlation of 0.93, 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 JOET and SPY?
JOET and SPY share 116 common holdings with a 25.7% weight overlap. Combined, they hold 511 unique securities.
Which pays a higher dividend, JOET or SPY?
JOET yields 0.61% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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