MMTM vs SPY
MMTM vs SPY
State Street SPDR S&P 1500 Momentum Tilt ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. MMTM offers more diversification with 1482 holdings.
Side-by-Side Comparison
| Metric | MMTM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.12% | 0.09% | |
| AUM | $159M | $789.1B | |
| Dividend Yield | 0.86% | 1.01% | |
| Holdings | 1,488 | 505 | |
| YTD Return | +5.75% | +13.79% | |
| 1Y Return | +14.14% | +23.66% | |
| 3Y Return (annualized) | +19.05% | +21.40% | |
| 5Y Return (annualized) | +11.72% | +13.37% | |
| Volatility (annualized) | 14.5% | 15.3% | |
| Max Drawdown | -34.2% | -56.5% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 24, 2012 | Jan 22, 1993 |
MMTM vs SPY Performance
State Street SPDR S&P 1500 Momentum Tilt ETF (MMTM) is a ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MMTM returned +14.14% while SPY returned +23.66%. Year to date, MMTM is up 5.75% versus a gain of 13.79% for SPY.
Over three years, MMTM compounded at +19.05% per year against +21.40% for SPY; over five years the annualized figures are +11.72% and +13.37% respectively. Across the full 14-year window we track, MMTM has the edge at +13.12% annualized vs +8.85%. 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 14.5% for MMTM. 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 -34.2% for MMTM 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 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MMTM charges 0.12% per year while SPY charges 0.09%. On a $10,000 position that is $12 vs $9 annually, a gap of $3 per year that compounds over a long holding period. On income, MMTM currently yields 0.86% against 1.01% for SPY.
Holdings Overlap
MMTM and SPY share 492 holdings out of 1493 unique holdings combined, representing a 69.4% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in MMTM | Weight in SPY | Difference |
|---|---|---|---|
| AAPL | 6.46% | 7.09% | 0.63% |
| MSFT | 7.72% | 4.43% | 3.29% |
| NVDA | 3.37% | 7.31% | 3.94% |
| AMZN | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| BRK.B | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
See all 10 holdings MMTM shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, MMTM or SPY?
MMTM has an expense ratio of 0.12% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $3 per year of difference.
Which performed better, MMTM or SPY?
Over the past year MMTM returned +14.14% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (14 years), MMTM annualized +13.12% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, MMTM or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.5% for MMTM. Worst drawdown: MMTM -34.2% vs SPY -56.5%.
Should I hold both MMTM and SPY?
MMTM and SPY have a monthly-return correlation of 0.96, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between MMTM and SPY?
MMTM and SPY share 492 common holdings with a 69.4% weight overlap. Combined, they hold 1493 unique securities.
Which pays a higher dividend, MMTM or SPY?
MMTM yields 0.86% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.