SPY vs SWP
State Street SPDR S&P 500 ETF Trust vs SWP Growth & Income ETF
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 | SPY | SWP | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.99% | |
| AUM | $821.1B | $155M | |
| Dividend Yield | 1.01% | 8.65% | |
| Holdings | 505 | 75 | |
| YTD Return | +12.22% | +7.20% | |
| 1Y Return | +20.83% | +16.05% | |
| 3Y Return (annualized) | +21.70% | - | |
| 5Y Return (annualized) | +12.98% | - | |
| Volatility (annualized) | 15.3% | 11.8% | |
| Max Drawdown | -56.5% | -15.7% | |
| Fund Family | State Street Investment Management | GammaRoad | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Sep 24, 2024 |
SPY vs SWP Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and SWP Growth & Income ETF (SWP) is a ETF from GammaRoad. Over the past year SPY returned +20.83% while SWP returned +16.05%. Year to date, SPY is up 12.22% versus a gain of 7.20% for SWP.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 11.8% for SWP. 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 -56.5% for SPY and -15.7% for SWP. 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPY charges 0.09% per year while SWP charges 0.99%. On a $10,000 position that is $9 vs $99 annually, a gap of $90 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 8.65% for SWP.
Holdings Overlap
SPY and SWP share 35 holdings out of 514 unique holdings combined, representing a 30.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or SWP?
SPY has an expense ratio of 0.09% while SWP charges 0.99%. SPY is the cheaper option. On a $10,000 investment, that is $90 per year of difference.
Which performed better, SPY or SWP?
Over the past year SPY returned +20.83% vs +16.05% for SWP, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +8.79% vs +14.97% for SWP. Past performance does not guarantee future results.
Which is riskier, SPY or SWP?
SPY has been the more volatile fund at 15.3% annualized versus 11.8% for SWP. Worst drawdown: SPY -56.5% vs SWP -15.7%.
Should I hold both SPY and SWP?
SPY and SWP have a monthly-return correlation of 0.92, 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 SPY and SWP?
SPY and SWP share 35 common holdings with a 30.0% weight overlap. Combined, they hold 514 unique securities.
Which pays a higher dividend, SPY or SWP?
SPY yields 1.01% while SWP yields 8.65%, so SWP currently pays the higher dividend yield.
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