RSHO vs SPY
Tema American Reshoring ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, RSHO or SPY?
RSHO has been ahead.
SPY has a lower expense ratio. RSHO led over 1Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 61.1%.
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 | RSHO | SPY |
|---|---|---|
| Expense Ratio | 0.75% | 0.09%Best |
| AUM | $302M | $804.7B |
| Dividend Yield | 0.23% | 0.98% |
| Holdings | 25 | 505 |
| Volatility (annualized) | 22.6% | 13.2%Best |
| Max Drawdown | -27.3% | -18.8%Best |
| $10,000 over 3.1 years | $24,965Best | $18,859 |
| Top 10 Weight | 61.1% | 37.8%Best |
| Fund Family | Tema Global Limited | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 11, 2023 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 89 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. RSHO has data through Jun 18, 2026 and SPY through Sep 15, 2026.
Volatility and max drawdown, and the $10,000 over 3.1 years row, are measured over the window both funds cover: May 11, 2023 to Jun 18, 2026 (3.1 years).
Risk: Volatility and Drawdowns
RSHO has been the more volatile fund, with annualized monthly volatility of 22.6% compared with 13.2% for SPY. 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 -27.3% for RSHO and -18.8% 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 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
RSHO charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, RSHO currently yields 0.23% against 0.98% for SPY.
Holdings Overlap
30.5% of RSHO's money is in holdings SPY also owns. 1.6% of SPY's money is in holdings RSHO also owns.
The two portfolios partly overlap.
The two holdings books were reported 124 days apart, RSHO as of Apr 30, 2026 and SPY as of Sep 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
8 positions in common, counted across the 24 positions we hold weights for in RSHO and 504 in SPY, against full books of 25 and 505.
What only one of them owns
Our book lists 489 positions for SPY that do not appear in our book for RSHO (97.7% of the fund), and 12 for RSHO that do not appear in SPY (56.7%).
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 RSHO | Weight in SPY | Difference |
|---|---|---|---|
| CATCaterpillar, Inc. | 6.79% | 0.55% | 6.24% |
| ETNEaton Corp Plc | 5.67% | 0.23% | 5.44% |
| LINLinde Plc (united Kingdom) | 4.87% | 0.34% | 4.53% |
| ROKRockwell Automation | 3.75% | 0.07% | 3.68% |
| PHParker-Hannifin Corp. | 3.51% | 0.18% | 3.33% |
| IRIngersoll Rand Inc | 3.40% | 0.04% | 3.36% |
| HONHoneywell International Inc. | 1.47% | 0.10% | 1.37% |
| WMBWilliams Cos. Inc. | 1.00% | 0.14% | 0.86% |
30.5% of RSHO is already inside SPY.
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, RSHO or SPY?
RSHO has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option, by $66 a year on a $10,000 investment.
Which is riskier, RSHO or SPY?
RSHO has been the more volatile fund at 22.6% annualized versus 13.2% for SPY. Worst drawdown: RSHO -27.3% vs SPY -18.8%.
Should I hold both RSHO and SPY?
RSHO and SPY have a monthly-return correlation of 0.74, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between RSHO and SPY?
30.5% of RSHO's money is in holdings SPY also owns. 1.6% of SPY's is in holdings RSHO also owns. They hold 8 positions in common, counted across the 24 positions we hold weights for in RSHO and 504 in SPY.
Which pays a higher dividend, RSHO or SPY?
RSHO yields 0.23% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than RSHO?
SPY has a lower expense ratio. RSHO led over 1Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 61.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.