QTPI vs SPY
North Square RCIM Tax-Advantaged Preferred and Income Securities ETF 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 | QTPI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.60% | 0.09% | |
| AUM | $80M | $821.1B | |
| Dividend Yield | 4.70% | 1.01% | |
| Holdings | 56 | 505 | |
| YTD Return | +1.23% | +12.68% | |
| 1Y Return | +3.80% | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 2.6% | 15.3% | |
| Max Drawdown | -4.1% | -56.5% | |
| Fund Family | North Square Investments, LLC | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Dec 18, 2024 | Jan 22, 1993 |
QTPI vs SPY Performance
North Square RCIM Tax-Advantaged Preferred and Income Securities ETF (QTPI) is a ETF from North Square Investments, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QTPI returned +3.80% while SPY returned +21.82%. Year to date, QTPI is up 1.23% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 2.6% for QTPI. 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 -4.1% for QTPI 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 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QTPI charges 0.60% per year while SPY charges 0.09%. On a $10,000 position that is $60 vs $9 annually, a gap of $51 per year that compounds over a long holding period. On income, QTPI currently yields 4.70% against 1.01% for SPY.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, QTPI or SPY?
QTPI has an expense ratio of 0.60% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $51 per year of difference.
Which performed better, QTPI or SPY?
Over the past year QTPI returned +3.80% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), QTPI annualized +5.45% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, QTPI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 2.6% for QTPI. Worst drawdown: QTPI -4.1% vs SPY -56.5%.
Should I hold both QTPI and SPY?
QTPI and SPY have a monthly-return correlation of 0.75, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QTPI and SPY?
QTPI and SPY share 2 common holdings with a 0.4% weight overlap. Combined, they hold 556 unique securities.
Which pays a higher dividend, QTPI or SPY?
QTPI yields 4.70% while SPY yields 1.01%, so QTPI currently pays the higher dividend yield.
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