NMAY vs SPY
Innovator Growth-100 Power Buffer ETF - May 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 503 holdings.
Side-by-Side Comparison
| Metric | NMAY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $63M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +6.88% | +13.68% | |
| 1Y Return | +10.55% | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 4.5% | 15.3% | |
| Max Drawdown | -3.8% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | May 1, 2025 | Jan 22, 1993 |
NMAY vs SPY Performance
Innovator Growth-100 Power Buffer ETF - May (NMAY) 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 NMAY returned +10.55% while SPY returned +21.53%. Year to date, NMAY is up 6.88% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 4.5% for NMAY. 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 -3.8% for NMAY 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NMAY 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, NMAY currently yields 0.00% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, NMAY or SPY?
NMAY 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, NMAY or SPY?
Over the past year NMAY returned +10.55% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), NMAY annualized +15.44% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, NMAY or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 4.5% for NMAY. Worst drawdown: NMAY -3.8% vs SPY -56.5%.
Should I hold both NMAY and SPY?
NMAY and SPY have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, NMAY or SPY?
NMAY yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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