MSTW vs SPY
Roundhill MSTR WeeklyPay ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, MSTW or SPY?
Multi Alternative 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 | MSTW | SPY |
|---|---|---|
| Expense Ratio | 1.00% | 0.09%Best |
| AUM | $58M | $814.4B |
| Dividend Yield | 421.70% | 1.01% |
| Holdings | 3 | 505 |
| YTD Return | -40.71% | +13.78%Best |
| 1Y Return | -76.59% | +21.44%Best |
| 3Y Return (annualized) | - | +21.38% |
| 5Y Return (annualized) | - | +12.80% |
| Volatility (annualized) | 86.8% | 12.2%Best |
| Max Drawdown | -89.2% | -8.9%Best |
| $10,000 over 1.1 years | $1,794 | $12,296Best |
| Fund Family | Roundhill Investments | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Jul 24, 2025 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Jul 24, 2025 to Sep 3, 2026 (1.1 years).
MSTW vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.1 years both funds cover.
MSTW vs SPY Performance
Roundhill MSTR WeeklyPay ETF (MSTW) is an ETF from Roundhill Investments and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year MSTW returned -76.59% while SPY returned +21.44%. Year to date, MSTW is down 40.71% versus a gain of 13.78% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MSTW has been the more volatile fund, with annualized monthly volatility of 86.8% compared with 12.2% 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 -89.2% for MSTW and -8.9% 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 0.48. They move together some of the time, and apart the rest.
Fees and Cost Over Time
MSTW charges 1.00% per year while SPY charges 0.09%. On a $10,000 position that is $100 vs $9 annually, a gap of $91 per year that compounds over a long holding period. On income, MSTW currently yields 421.70% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 1 holding in MSTW and 504 in SPY, totalling 15.8% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 1 positions we hold weights for in MSTW and 504 in SPY, against full books of 3 and 505.
You are not choosing between two funds in isolation.
Whichever of MSTW 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, MSTW or SPY?
MSTW has an expense ratio of 1.00% while SPY charges 0.09%. SPY is the cheaper option, by $91 a year on a $10,000 investment.
Which performed better, MSTW or SPY?
Over the past year MSTW returned -76.59% vs +21.44% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), MSTW annualized -79.03% vs +20.67% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MSTW or SPY?
MSTW has been the more volatile fund at 86.8% annualized versus 12.2% for SPY. Worst drawdown: MSTW -89.2% vs SPY -8.9%.
Should I hold both MSTW and SPY?
MSTW and SPY have a monthly-return correlation of 0.48, 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, MSTW or SPY?
MSTW yields 421.70% while SPY yields 1.01%, so MSTW currently pays the higher dividend yield.
Is SPY better than MSTW?
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.