MUSQ vs SPY
MUSQ Global Music Industry Index ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, MUSQ or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.9% of the fund in its ten largest positions against 64.2%.
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 | MUSQ | SPY |
|---|---|---|
| Expense Ratio | 0.75% | 0.09%Best |
| AUM | $21M | $777.9B |
| Dividend Yield | 0.71% | 1.00% |
| Holdings | 81 | 1,011 |
| Volatility (annualized) | 15.2% | 12.6%Best |
| Max Drawdown | -23.1% | -18.8%Best |
| $10,000 over 3.3 years | $10,368 | $18,287Best |
| Top 10 Weight | 64.2% | 38.9%Best |
| Fund Family | Exchange Traded Concepts Trust | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jul 6, 2023 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 22 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. MUSQ has data through Oct 20, 2026 and SPY through Nov 11, 2026.
Volatility and max drawdown, and the $10,000 over 3.3 years row, are measured over the window both funds cover: Jul 7, 2023 to Oct 20, 2026 (3.3 years).
Risk: Volatility and Drawdowns
MUSQ has been the more volatile fund, with annualized monthly volatility of 15.2% compared with 12.6% 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 -23.1% for MUSQ and -18.8% 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 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MUSQ charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, MUSQ currently yields 0.71% against 1.00% for SPY.
Holdings Overlap
24.1% of MUSQ's money is in holdings SPY also owns. 14.4% of SPY's money is in holdings MUSQ also owns.
MUSQ and SPY share little of their money.
4 positions in common, counted across the 26 positions we hold weights for in MUSQ and 504 in SPY, against full books of 81 and 1,011.
What only one of them owns
Our book lists 495 positions for SPY that do not appear in our book for MUSQ (85.3% of the fund), and 9 for MUSQ that do not appear in SPY (32.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
24.1% of MUSQ is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MUSQ or SPY?
MUSQ has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option, by $66 a year on a $10,000 investment.
Which is riskier, MUSQ or SPY?
MUSQ has been the more volatile fund at 15.2% annualized versus 12.6% for SPY. Worst drawdown: MUSQ -23.1% vs SPY -18.8%.
Should I hold both MUSQ and SPY?
MUSQ and SPY have a monthly-return correlation of 0.71, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between MUSQ and SPY?
24.1% of MUSQ's money is in holdings SPY also owns. 14.4% of SPY's is in holdings MUSQ also owns. They hold 4 positions in common, counted across the 26 positions we hold weights for in MUSQ and 504 in SPY.
Which pays a higher dividend, MUSQ or SPY?
MUSQ yields 0.71% while SPY yields 1.00%, so SPY currently pays the higher dividend yield.
Is SPY better than MUSQ?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.9% of the fund in its ten largest positions against 64.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.