MORT vs SPY
VanEck Mortgage REIT Income 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 | MORT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.43% | 0.09% | |
| AUM | $375M | $789.1B | |
| Dividend Yield | 12.75% | 1.01% | |
| Holdings | 28 | 505 | |
| YTD Return | -0.11% | +13.39% | |
| 1Y Return | +8.81% | +22.52% | |
| 3Y Return (annualized) | +7.18% | +21.36% | |
| 5Y Return (annualized) | -1.05% | +13.19% | |
| Volatility (annualized) | 24.1% | 15.3% | |
| Max Drawdown | -75.0% | -56.5% | |
| Fund Family | VanEck | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 16, 2011 | Jan 22, 1993 |
MORT vs SPY Performance
VanEck Mortgage REIT Income ETF (MORT) is a ETF from VanEck and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MORT returned +8.81% while SPY returned +22.52%. Year to date, MORT is down 0.11% versus a gain of 13.39% for SPY.
Over three years, MORT compounded at +7.18% per year against +21.36% for SPY; over five years the annualized figures are -1.05% and +13.19% respectively. Across the full 15-year window we track, SPY has the edge at +8.84% annualized vs -1.93%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MORT has been the more volatile fund, with annualized monthly volatility of 24.1% compared with 15.3% for SPY. 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 -75.0% for MORT 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
MORT charges 0.43% per year while SPY charges 0.09%. On a $10,000 position that is $43 vs $9 annually, a gap of $34 per year that compounds over a long holding period. On income, MORT currently yields 12.75% against 1.01% for SPY.
Holdings Overlap
MORT and SPY share 0 holdings out of 528 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, MORT or SPY?
MORT has an expense ratio of 0.43% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $34 per year of difference.
Which performed better, MORT or SPY?
Over the past year MORT returned +8.81% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (15 years), MORT annualized -1.93% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, MORT or SPY?
MORT has been the more volatile fund at 24.1% annualized versus 15.3% for SPY. Worst drawdown: MORT -75.0% vs SPY -56.5%.
Should I hold both MORT and SPY?
MORT 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 MORT and SPY?
MORT and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 528 unique securities.
Which pays a higher dividend, MORT or SPY?
MORT yields 12.75% while SPY yields 1.01%, so MORT currently pays the higher dividend yield.
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