LAZR vs SPY
Tema Photonics & Optical ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, LAZR or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. LAZR led over 1Y, SPY over 3Y, 5Y 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 | LAZR | SPY |
|---|---|---|
| Expense Ratio | 0.75% | 0.09%Best |
| AUM | $145M | $777.9B |
| Dividend Yield | 0.00% | 1.00% |
| Holdings | 58 | 1,011 |
| YTD Return | -43.06% | +10.63%Best |
| 1Y Return | +2321.01%Best | +11.24% |
| 3Y Return (annualized) | -14.04% | +20.94%Best |
| 5Y Return (annualized) | -36.70% | +11.58%Best |
| Volatility (annualized) | 11414.1% | 14.9%Best |
| Max Drawdown | - | -24.5% |
| $10,000 over 5 years | $1,016 | $17,295Best |
| Fund Family | Tema Global Limited | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Jun 30, 2026 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Dec 3, 2020 to Nov 10, 2026 (5.9 years).
LAZR 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 5.9 years both funds cover.
LAZR vs SPY Performance
Tema Photonics & Optical ETF (LAZR) is an ETF from Tema Global Limited and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year LAZR returned +2321.01% while SPY returned +11.24%. Year to date, LAZR is down 43.06% versus a gain of 10.63% for SPY.
Over three years, LAZR compounded at -14.04% per year against +20.94% for SPY; over five years the annualized figures are -36.70% and +11.58% respectively. Across the full 6-year window we track, SPY has the edge at +14.28% annualized vs -34.17%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
LAZR has been the more volatile fund, with annualized monthly volatility of 11414.1% compared with 14.9% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at -0.06. They move largely independently of each other.
Fees and Cost Over Time
LAZR charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, LAZR currently yields 0.00% against 1.00% for SPY.
Holdings Overlap
At least 0.3% of SPY's money is in holdings LAZR also owns.
Stated as a floor: for LAZR, our book for it covers 91.2% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
3 positions in common, counted across the 25 positions we hold weights for in LAZR and 504 in SPY, against full books of 58 and 1,011.
You are not choosing between two funds in isolation.
Whichever of LAZR 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, LAZR or SPY?
LAZR has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option, by $66 a year on a $10,000 investment.
Which performed better, LAZR or SPY?
Over the past year LAZR returned +2321.01% vs +11.24% for SPY, so LAZR leads on 1-year performance. Over the longest common window we track (6 years), LAZR annualized -34.17% vs +14.28% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, LAZR or SPY?
LAZR has been the more volatile fund at 11414.1% annualized versus 14.9% for SPY.
Should I hold both LAZR and SPY?
LAZR and SPY have a monthly-return correlation of -0.06, 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, LAZR or SPY?
LAZR yields 0.00% while SPY yields 1.00%, so SPY currently pays the higher dividend yield.
Is SPY better than LAZR?
SPY has a lower expense ratio. LAZR led over 1Y, SPY over 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.