RLY vs SPY
State Street Multi-Asset Real Return ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, RLY or SPY?
Tactical Allocation against Large Cap Blend.
SPY has a lower expense ratio. RLY led over 1Y, SPY over 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 99.9%.
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 | RLY | SPY |
|---|---|---|
| Expense Ratio | 0.50% | 0.09%Best |
| AUM | $1.4B | $804.7B |
| Dividend Yield | 2.93% | 0.98% |
| Holdings | 12 | 505 |
| YTD Return | +18.52%Best | +12.09% |
| 1Y Return | +26.04%Best | +16.29% |
| 3Y Return (annualized) | +14.01% | +21.20%Best |
| 5Y Return (annualized) | +11.87% | +13.37%Best |
| Volatility (annualized) | 12.5%Best | 14.1% |
| Max Drawdown | -46.2% | -34.1%Best |
| $10,000 over 5 years | $17,521 | $18,728Best |
| Top 10 Weight | 99.9% | 37.8%Best |
| Fund Family | State Street Investment Management | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Tactical Allocation | Large Cap Blend |
| Inception | Apr 25, 2012 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Apr 26, 2012 to Sep 18, 2026 (14.4 years).
RLY 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 covers the 14.4 years both funds cover.
RLY vs SPY Performance
State Street Multi-Asset Real Return ETF (RLY) is an ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year RLY returned +26.04% while SPY returned +16.29%. Year to date, RLY is up 18.52% versus a gain of 12.09% for SPY.
Over three years, RLY compounded at +14.01% per year against +21.20% for SPY; over five years the annualized figures are +11.87% and +13.37% respectively. Across the full 14-year window we track, SPY has the edge at +13.06% annualized vs +3.50%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 12.5% for RLY. 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 -46.2% for RLY and -34.1% 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 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
RLY charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, RLY currently yields 2.93% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 12 holdings in RLY and 504 in SPY, totalling 100.0% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 12 positions we hold weights for in RLY and 504 in SPY, against full books of 12 and 505.
What only one of them owns
Measured across the 12 and 504 positions we hold weights for.
SPY holds 497 positions RLY does not, 99.3% of the fund.
Largest: NVDA 8.01%, AAPL 7.26%, MSFT 5.66%, AMZN 3.79%, GOOGL 2.99%
You are not choosing between two funds in isolation.
Whichever of RLY and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, RLY or SPY?
RLY has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option, by $41 a year on a $10,000 investment.
Which performed better, RLY or SPY?
Over the past year RLY returned +26.04% vs +16.29% for SPY, so RLY leads on 1-year performance. Over the longest common window we track (14 years), RLY annualized +3.50% vs +13.06% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RLY or SPY?
SPY has been the more volatile fund at 14.1% annualized versus 12.5% for RLY. Worst drawdown: RLY -46.2% vs SPY -34.1%.
Should I hold both RLY and SPY?
RLY and SPY have a monthly-return correlation of 0.70, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, RLY or SPY?
RLY yields 2.93% while SPY yields 0.98%, so RLY currently pays the higher dividend yield.
Is SPY better than RLY?
SPY has a lower expense ratio. RLY led over 1Y, SPY over 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 99.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.