LOCT vs SPY
Innovator Premium Income 15 Buffer ETF - October 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 | LOCT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $11M | $789.1B | |
| Dividend Yield | 5.15% | 1.01% | |
| Holdings | 8 | 505 | |
| YTD Return | +0.13% | +13.39% | |
| 1Y Return | +1.98% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 6.1% | 15.3% | |
| Max Drawdown | -10.5% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Oct 2, 2023 | Jan 22, 1993 |
LOCT vs SPY Performance
Innovator Premium Income 15 Buffer ETF - October (LOCT) is a ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year LOCT returned +1.98% while SPY returned +22.52%. Year to date, LOCT is up 0.13% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 6.1% for LOCT. 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 -10.5% for LOCT 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 0.06. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
LOCT charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, LOCT currently yields 5.15% against 1.01% for SPY.
Holdings Overlap
LOCT 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, LOCT or SPY?
LOCT has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, LOCT or SPY?
Over the past year LOCT returned +1.98% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), LOCT annualized +0.19% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, LOCT or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 6.1% for LOCT. Worst drawdown: LOCT -10.5% vs SPY -56.5%.
Should I hold both LOCT and SPY?
LOCT and SPY have a monthly-return correlation of 0.06, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between LOCT and SPY?
LOCT and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, LOCT or SPY?
LOCT yields 5.15% while SPY yields 1.01%, so LOCT currently pays the higher dividend yield.
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