MCR vs SPY
MFS Charter Income Trust vs State Street SPDR S&P 500 ETF Trust
Which is better, MCR or SPY?
Diversified Sectoral Bond against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y 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 | MCR | SPY |
|---|---|---|
| Expense Ratio | 1.02% | 0.09%Best |
| AUM | $270M | $804.7B |
| Dividend Yield | 8.17% | 0.98% |
| Holdings | 1,076 | 505 |
| Volatility (annualized) | 10.2%Best | 15.3% |
| Max Drawdown | -45.2%Best | -56.5% |
| $10,000 over 30.5 years | $10,500 | $129,876Best |
| Fund Family | MFS Investment Management | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Diversified Sectoral Bond | Large Cap Blend |
| Inception | Jul 20, 1989 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 85 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. MCR has data through Jun 18, 2026 and SPY through Sep 11, 2026.
Volatility and max drawdown, and the $10,000 over 30.5 years row, are measured over the window both funds cover: Jan 2, 1996 to Jun 18, 2026 (30.5 years).
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 10.2% for MCR. 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 -45.2% for MCR and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.51. They move together some of the time, and apart the rest.
Fees and Cost Over Time
MCR charges 1.02% per year while SPY charges 0.09%. On a $10,000 position that is $102 vs $9 annually, a gap of $93 per year that compounds over a long holding period. On income, MCR currently yields 8.17% against 0.98% for SPY.
Holdings Overlap
At least 0.1% of SPY's money is in holdings MCR also owns.
Stated as a floor: for MCR, our book for it covers 90.1% 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.
The two holdings books were reported 157 days apart, MCR as of Feb 28, 2026 and SPY as of Aug 4, 2026, so some of the difference between them is the time between the two reports rather than the funds.
1 positions in common, counted across the 549 positions we hold weights for in MCR and 504 in SPY, against full books of 1,076 and 505.
Top Shared Holdings
| Stock | Weight in MCR | Weight in SPY | Difference |
|---|---|---|---|
| TMUST-Mobile Usa Inc Esrw Usd Npv Ref Sm#585558 | 0.02% | 0.12% | 0.10% |
You are not choosing between two funds in isolation.
Whichever of MCR 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, MCR or SPY?
MCR has an expense ratio of 1.02% while SPY charges 0.09%. SPY is the cheaper option, by $93 a year on a $10,000 investment.
Which is riskier, MCR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 10.2% for MCR. Worst drawdown: MCR -45.2% vs SPY -56.5%.
Should I hold both MCR and SPY?
MCR and SPY have a monthly-return correlation of 0.51, 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, MCR or SPY?
MCR yields 8.17% while SPY yields 0.98%, so MCR currently pays the higher dividend yield.
Is SPY better than MCR?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.