SNTH vs SPY
MRP SynthEquity 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 503 holdings.
Side-by-Side Comparison
| Metric | SNTH | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.96% | 0.09% | |
| AUM | $252M | $789.1B | |
| Dividend Yield | 11.62% | 1.01% | |
| Holdings | 11 | 505 | |
| YTD Return | +11.75% | +13.75% | |
| 1Y Return | +21.36% | +22.91% | |
| 3Y Return (annualized) | - | +21.67% | |
| 5Y Return (annualized) | - | +13.32% | |
| Volatility (annualized) | 13.2% | 15.3% | |
| Max Drawdown | -9.8% | -56.5% | |
| Fund Family | Measured Risk Portfolios | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 10, 2025 | Jan 22, 1993 |
SNTH vs SPY Performance
MRP SynthEquity ETF (SNTH) is a ETF from Measured Risk Portfolios and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SNTH returned +21.36% while SPY returned +22.91%. Year to date, SNTH is up 11.75% versus a gain of 13.75% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.2% for SNTH. 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 -9.8% for SNTH 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 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SNTH charges 0.96% per year while SPY charges 0.09%. On a $10,000 position that is $96 vs $9 annually, a gap of $87 per year that compounds over a long holding period. On income, SNTH currently yields 11.62% against 1.01% for SPY.
Holdings Overlap
SNTH and SPY share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SNTH or SPY?
SNTH has an expense ratio of 0.96% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $87 per year of difference.
Which performed better, SNTH or SPY?
Over the past year SNTH returned +21.36% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), SNTH annualized +25.65% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, SNTH or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.2% for SNTH. Worst drawdown: SNTH -9.8% vs SPY -56.5%.
Should I hold both SNTH and SPY?
SNTH and SPY have a monthly-return correlation of 0.97, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SNTH and SPY?
SNTH and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, SNTH or SPY?
SNTH yields 11.62% while SPY yields 1.01%, so SNTH currently pays the higher dividend yield.
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