MSTW vs SPY
Roundhill MSTR WeeklyPay 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 505 holdings.
Side-by-Side Comparison
| Metric | MSTW | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.99% | 0.09% | |
| AUM | $36M | $789.1B | |
| Dividend Yield | 422.04% | 1.01% | |
| Holdings | 3 | 505 | |
| YTD Return | -60.91% | +14.47% | |
| 1Y Return | -87.44% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 73.7% | 15.3% | |
| Max Drawdown | -89.1% | -56.5% | |
| Fund Family | Roundhill Investments | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jul 24, 2025 | Jan 22, 1993 |
MSTW vs SPY Performance
Roundhill MSTR WeeklyPay ETF (MSTW) is a ETF from Roundhill Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MSTW returned -87.44% while SPY returned +21.96%. Year to date, MSTW is down 60.91% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
MSTW has been the more volatile fund, with annualized monthly volatility of 73.7% 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 -89.1% for MSTW 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 0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MSTW charges 0.99% per year while SPY charges 0.09%. On a $10,000 position that is $99 vs $9 annually, a gap of $90 per year that compounds over a long holding period. On income, MSTW currently yields 422.04% against 1.01% for SPY.
Holdings Overlap
MSTW and SPY share 0 holdings out of 504 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, MSTW or SPY?
MSTW has an expense ratio of 0.99% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $90 per year of difference.
Which performed better, MSTW or SPY?
Over the past year MSTW returned -87.44% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), MSTW annualized -87.03% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, MSTW or SPY?
MSTW has been the more volatile fund at 73.7% annualized versus 15.3% for SPY. Worst drawdown: MSTW -89.1% vs SPY -56.5%.
Should I hold both MSTW and SPY?
MSTW and SPY have a monthly-return correlation of 0.57, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MSTW and SPY?
MSTW and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, MSTW or SPY?
MSTW yields 422.04% while SPY yields 1.01%, so MSTW currently pays the higher dividend yield.
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