LTAX vs SPY
Nomura Tax-Free USA ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | LTAX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.39% | 0.09% | |
| AUM | $6M | $789.1B | |
| Dividend Yield | 1.66% | 1.01% | |
| Holdings | 79 | 505 | |
| YTD Return | +1.45% | +13.68% | |
| 1Y Return | - | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | - | 15.3% | |
| Max Drawdown | -3.2% | -56.5% | |
| Fund Family | Nomura Asset Management Co Ltd | State Street Investment Management | |
| Category | Tax Preferred | Equity | |
| Inception | Jan 12, 2026 | Jan 22, 1993 |
LTAX vs SPY Performance
Nomura Tax-Free USA ETF (LTAX) is a ETF from Nomura Asset Management Co Ltd and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Year to date, LTAX is up 1.45% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -3.2% for LTAX and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
LTAX charges 0.39% per year while SPY charges 0.09%. On a $10,000 position that is $39 vs $9 annually, a gap of $30 per year that compounds over a long holding period. On income, LTAX currently yields 1.66% against 1.01% for SPY.
Holdings Overlap
LTAX and SPY share 0 holdings out of 540 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, LTAX or SPY?
LTAX has an expense ratio of 0.39% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $30 per year of difference.
What is the holdings overlap between LTAX and SPY?
LTAX and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 540 unique securities.
Which pays a higher dividend, LTAX or SPY?
LTAX yields 1.66% while SPY yields 1.01%, so LTAX currently pays the higher dividend yield.
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