MUNX vs SPY
AMG GW&K Muni Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, MUNX or SPY?
Municipal Bond against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y.
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 | MUNX | SPY |
|---|---|---|
| Expense Ratio | 0.29% | 0.09%Best |
| AUM | $19M | $804.7B |
| Dividend Yield | 2.61% | 0.98% |
| Holdings | 76 | 505 |
| YTD Return | -1.63% | +12.22%Best |
| 1Y Return | -0.94% | +16.97%Best |
| 3Y Return (annualized) | - | +21.16% |
| 5Y Return (annualized) | - | +13.00% |
| Fund Family | AMG Funds | State Street Investment Management |
| Category | Tax Preferred | Equity |
| Style | Municipal Bond | Large Cap Blend |
| Inception | Oct 29, 2025 | Jan 22, 1993 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window, Top 10 Weight.
MUNX 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
MUNX vs SPY Performance
AMG GW&K Muni Income ETF (MUNX) is an ETF from AMG Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year MUNX returned -0.94% while SPY returned +16.97%. Year to date, MUNX is down 1.63% versus a gain of 12.22% for SPY.
Past performance does not guarantee future results.
Fees and Cost Over Time
MUNX charges 0.29% per year while SPY charges 0.09%. On a $10,000 position that is $29 vs $9 annually, a gap of $20 per year that compounds over a long holding period. On income, MUNX currently yields 2.61% against 0.98% for SPY.
You are not choosing between two funds in isolation.
Whichever of MUNX 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, MUNX or SPY?
MUNX has an expense ratio of 0.29% while SPY charges 0.09%. SPY is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, MUNX or SPY?
Over the past year MUNX returned -0.94% vs +16.97% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which pays a higher dividend, MUNX or SPY?
MUNX yields 2.61% while SPY yields 0.98%, so MUNX currently pays the higher dividend yield.
Is SPY better than MUNX?
SPY has a lower expense ratio. SPY led over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.