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. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 65.5%.
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 | $82M | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 26 | 505 |
| YTD Return | -19.71% | +11.97%Best |
| 1Y Return | +1807.51%Best | +16.40% |
| 3Y Return (annualized) | -19.08% | +21.10%Best |
| 5Y Return (annualized) | -30.48% | +12.88%Best |
| Volatility (annualized) | 11591.0% | 15.1%Best |
| Max Drawdown | - | -24.5% |
| $10,000 over 5 years | $1,624 | $18,327Best |
| Top 10 Weight | 65.5% | 37.8%Best |
| 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 |
Volatility and max drawdown are measured over the window both funds cover: Dec 3, 2020 to Sep 14, 2026 (5.8 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 5.8 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 +1807.51% while SPY returned +16.40%. Year to date, LAZR is down 19.71% versus a gain of 11.97% for SPY.
Over three years, LAZR compounded at -19.08% per year against +21.10% for SPY; over five years the annualized figures are -30.48% and +12.88% respectively. Across the full 6-year window we track, SPY has the edge at +14.93% annualized vs -30.92%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
LAZR has been the more volatile fund, with annualized monthly volatility of 11591.0% compared with 15.1% 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 0.98% for SPY.
Holdings Overlap
22.6% of LAZR's money is in holdings SPY also owns. 0.3% of SPY's money is in holdings LAZR also owns.
LAZR and SPY share little of their money.
3 positions in common, counted across the 26 positions we hold weights for in LAZR and 504 in SPY, against full books of 26 and 505.
What only one of them owns
Our book lists 494 positions for SPY that do not appear in our book for LAZR (99.1% of the fund), and 7 for LAZR that do not appear in SPY (22.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
22.6% of LAZR is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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 +1807.51% vs +16.40% for SPY, so LAZR leads on 1-year performance. Over the longest common window we track (6 years), LAZR annualized -30.92% vs +14.93% 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 11591.0% annualized versus 15.1% 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.
What is the holdings overlap between LAZR and SPY?
22.6% of LAZR's money is in holdings SPY also owns. 0.3% of SPY's is in holdings LAZR also owns. They hold 3 positions in common, counted across the 26 positions we hold weights for in LAZR and 504 in SPY.
Which pays a higher dividend, LAZR or SPY?
LAZR yields 0.00% while SPY yields 0.98%, 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. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 65.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.