SPY vs TAN
State Street SPDR S&P 500 ETF Trust vs Invesco Solar ETF
Which is better, SPY or TAN?
Large Cap Blend against Mid Cap Growth.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 58.5%.
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 | SPY | TAN |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.70% |
| AUM | $814.4B | $1.1B |
| Dividend Yield | 1.01% | 0.00% |
| Holdings | 505 | 44 |
| YTD Return | +13.34%Best | -6.90% |
| 1Y Return | +19.97%Best | +14.33% |
| 3Y Return (annualized) | +21.20%Best | -6.07% |
| 5Y Return (annualized) | +12.81%Best | -10.83% |
| Volatility (annualized) | 15.7%Best | 43.6% |
| Max Drawdown | -52.4%Best | -95.3% |
| $10,000 over 5 years | $18,270Best | $5,638 |
| Top 10 Weight | 38.0%Best | 58.5% |
| Fund Family | State Street Investment Management | Invesco (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Mid Cap Growth |
| Inception | Jan 22, 1993 | Apr 15, 2008 |
Volatility and max drawdown are measured over the window both funds cover: Apr 15, 2008 to Sep 4, 2026 (18.4 years).
SPY vs TAN 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 18.4 years both funds cover.
SPY vs TAN Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Invesco Solar ETF (TAN) is an ETF from Invesco (US). Over the past year SPY returned +19.97% while TAN returned +14.33%. Year to date, SPY is up 13.34% versus a loss of 6.90% for TAN.
Over three years, SPY compounded at +21.20% per year against -6.07% for TAN; over five years the annualized figures are +12.81% and -10.83% respectively. Across the full 18-year window we track, SPY has the edge at +10.46% annualized vs -7.28%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TAN has been the more volatile fund, with annualized monthly volatility of 43.6% compared with 15.7% 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 -52.4% for SPY and -95.3% for TAN. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.62. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while TAN charges 0.70%. On a $10,000 position that is $9 vs $70 annually, a gap of $61 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.00% for TAN.
Holdings Overlap
10.6% of TAN's money is in holdings SPY also owns.
TAN and SPY share little of their money.
1 positions in common, counted across the 504 positions we hold weights for in SPY and 35 in TAN, against full books of 505 and 44.
What only one of them owns
Our book lists 11 positions for TAN that do not appear in our book for SPY (42.2% of the fund), and 495 for SPY that do not appear in TAN (99.4%).
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 SPY | Weight in TAN | Difference |
|---|---|---|---|
| FSLRFirst Solar, Inc | 0.04% | 10.63% | 10.59% |
You are not choosing between two funds in isolation.
Whichever of SPY and TAN 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, SPY or TAN?
SPY has an expense ratio of 0.09% while TAN charges 0.70%. SPY is the cheaper option, by $61 a year on a $10,000 investment.
Which performed better, SPY or TAN?
Over the past year SPY returned +19.97% vs +14.33% for TAN, so SPY leads on 1-year performance. Over the longest common window we track (18 years), SPY annualized +10.46% vs -7.28% for TAN. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TAN?
TAN has been the more volatile fund at 43.6% annualized versus 15.7% for SPY. Worst drawdown: SPY -52.4% vs TAN -95.3%.
Should I hold both SPY and TAN?
SPY and TAN have a monthly-return correlation of 0.62, 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 SPY and TAN?
10.6% of TAN's money is in holdings SPY also owns. 10.6% of TAN's is in holdings SPY also owns. They hold 1 positions in common, counted across the 504 positions we hold weights for in SPY and 35 in TAN.
Which pays a higher dividend, SPY or TAN?
SPY yields 1.01% while TAN yields 0.00%, so SPY currently pays the higher dividend yield.
Is TAN better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 58.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.