MINN vs SPY
Mairs & Power Minnesota Municipal Bond ETF 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 | MINN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.09% | |
| AUM | $48M | $789.1B | |
| Dividend Yield | 3.05% | 1.01% | |
| Holdings | 117 | 505 | |
| YTD Return | -1.93% | +14.47% | |
| 1Y Return | +2.61% | +21.96% | |
| 3Y Return (annualized) | +2.80% | +21.70% | |
| 5Y Return (annualized) | -0.86% | +13.30% | |
| Volatility (annualized) | 7.8% | 15.3% | |
| Max Drawdown | -18.4% | -56.5% | |
| Fund Family | Mairs & Power | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Mar 11, 2021 | Jan 22, 1993 |
MINN vs SPY Performance
Mairs & Power Minnesota Municipal Bond ETF (MINN) is a ETF from Mairs & Power and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MINN returned +2.61% while SPY returned +21.96%. Year to date, MINN is down 1.93% versus a gain of 14.47% for SPY.
Over three years, MINN compounded at +2.80% per year against +21.70% for SPY; over five years the annualized figures are -0.86% and +13.30% respectively. Across the full 5-year window we track, SPY has the edge at +8.87% annualized vs -0.52%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 7.8% for MINN. 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 -18.4% for MINN 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MINN charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, MINN currently yields 3.05% against 1.01% for SPY.
Holdings Overlap
MINN and SPY share 0 holdings out of 509 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, MINN or SPY?
MINN has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, MINN or SPY?
Over the past year MINN returned +2.61% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), MINN annualized -0.52% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, MINN or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 7.8% for MINN. Worst drawdown: MINN -18.4% vs SPY -56.5%.
Should I hold both MINN and SPY?
MINN and SPY have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MINN and SPY?
MINN and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 509 unique securities.
Which pays a higher dividend, MINN or SPY?
MINN yields 3.05% while SPY yields 1.01%, so MINN currently pays the higher dividend yield.
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