NMAR vs SPY
Innovator Growth 100 Power Buffer ETF - March 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 | NMAR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $93M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +10.70% | +14.47% | |
| 1Y Return | +15.25% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 7.1% | 15.3% | |
| Max Drawdown | -10.0% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Mar 3, 2025 | Jan 22, 1993 |
NMAR vs SPY Performance
Innovator Growth 100 Power Buffer ETF - March (NMAR) is a ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NMAR returned +15.25% while SPY returned +21.96%. Year to date, NMAR is up 10.70% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 7.1% for NMAR. 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 -10.0% for NMAR 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
NMAR charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, NMAR currently yields 0.00% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, NMAR or SPY?
NMAR has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, NMAR or SPY?
Over the past year NMAR returned +15.25% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), NMAR annualized +17.15% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, NMAR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 7.1% for NMAR. Worst drawdown: NMAR -10.0% vs SPY -56.5%.
Should I hold both NMAR and SPY?
NMAR and SPY have a monthly-return correlation of 0.94, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
Which pays a higher dividend, NMAR or SPY?
NMAR yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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