OTAX vs SPY
Optimal Tax Managed Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, OTAX or SPY?
SPY costs less.
SPY has a lower expense ratio. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 44.3%.
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 | OTAX | SPY |
|---|---|---|
| Expense Ratio | 0.58% | 0.09%Best |
| AUM | $72M | $811.2B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 207 | 1,515 |
| YTD Return | +0.79% | +13.54%Best |
| 1Y Return | - | +16.25% |
| 3Y Return (annualized) | - | +23.72% |
| 5Y Return (annualized) | - | +13.95% |
| Top 10 Weight | 44.3% | 38.2%Best |
| Fund Family | Optimal Tax Asset Management, Inc. | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Aug 25, 2026 | Jan 22, 1993 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
OTAX 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.
OTAX vs SPY Performance
Optimal Tax Managed Equity ETF (OTAX) is an ETF from Optimal Tax Asset Management, Inc. and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Year to date, OTAX is up 0.79% versus a gain of 13.54% for SPY.
Past performance does not guarantee future results.
Fees and Cost Over Time
OTAX charges 0.58% per year while SPY charges 0.09%. On a $10,000 position that is $58 vs $9 annually, a gap of $49 per year that compounds over a long holding period. On income, OTAX currently yields 0.00% against 0.98% for SPY.
Holdings Overlap
56.9% of OTAX's money is in holdings SPY also owns. 71.3% of SPY's money is in holdings OTAX also owns.
Most of SPY is already inside OTAX. Owning both mostly buys the same companies twice.
115 positions in common, counted across the 207 positions we hold weights for in OTAX and 504 in SPY, against full books of 207 and 1,515.
What only one of them owns
Our book lists 382 positions for SPY that do not appear in our book for OTAX (28.0% of the fund), and 74 for OTAX that do not appear in SPY (38.0%).
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.
Top Shared Holdings
| Stock | Weight in OTAX | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 5.09% | 7.78% | 2.69% |
| AAPLApple, Inc | 4.68% | 7.45% | 2.77% |
| MSFTMicrosoft Corp | 3.75% | 5.71% | 1.96% |
| AMZNAmazon.Com Inc | 2.59% | 3.78% | 1.19% |
| GOOGLAlphabet Inc,class A | 1.98% | 3.12% | 1.14% |
| AVGOBroadcom Inc | 2.15% | 2.48% | 0.33% |
| GOOGAlphabet Inc. C | 1.70% | 2.49% | 0.79% |
| METAMeta Platforms Inc | 1.27% | 2.22% | 0.95% |
| TSLATesla Inc | 1.21% | 1.54% | 0.33% |
| MUMicron Technology, Inc. | 1.03% | 1.59% | 0.56% |
71.3% of SPY is already inside OTAX.
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, OTAX or SPY?
OTAX has an expense ratio of 0.58% while SPY charges 0.09%. SPY is the cheaper option, by $49 a year on a $10,000 investment.
What is the holdings overlap between OTAX and SPY?
71.3% of SPY's money is in holdings OTAX also owns. 71.3% of SPY's is in holdings OTAX also owns. They hold 115 positions in common, counted across the 207 positions we hold weights for in OTAX and 504 in SPY.
Which pays a higher dividend, OTAX or SPY?
OTAX yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than OTAX?
SPY has a lower expense ratio. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 44.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.