SPY vs TAXE
State Street SPDR S&P 500 ETF Trust vs T. Rowe Price Intermediate Municipal Income ETF
Which is better, SPY or TAXE?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
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 | TAXE |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.24% |
| AUM | $804.7B | $202M |
| Dividend Yield | 0.98% | 3.74% |
| Holdings | 505 | 575 |
| YTD Return | +11.45%Best | -1.05% |
| 1Y Return | +15.87%Best | +0.63% |
| 3Y Return (annualized) | +20.93% | - |
| 5Y Return (annualized) | +12.59% | - |
| Volatility (annualized) | 12.2% | 3.7%Best |
| Max Drawdown | -18.8% | -3.7%Best |
| $10,000 over 2.2 years | $13,848Best | $10,651 |
| Fund Family | State Street Investment Management | T.Rowe Price |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | - |
| Inception | Jan 22, 1993 | Jul 10, 2024 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.2 years row, are measured over the window both funds cover: Jul 10, 2024 to Sep 15, 2026 (2.2 years).
SPY vs TAXE 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 2.2 years both funds cover.
SPY vs TAXE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and T. Rowe Price Intermediate Municipal Income ETF (TAXE) is an ETF from T.Rowe Price. Over the past year SPY returned +15.87% while TAXE returned +0.63%. Year to date, SPY is up 11.45% versus a loss of 1.05% for TAXE.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.2% compared with 3.7% for TAXE. 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 -18.8% for SPY and -3.7% for TAXE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.61. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while TAXE charges 0.24%. On a $10,000 position that is $9 vs $24 annually, a gap of $15 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 3.74% for TAXE.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 137 in TAXE, totalling 99.9% and 27.4% 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 504 positions we hold weights for in SPY and 137 in TAXE, against full books of 505 and 575.
You are not choosing between two funds in isolation.
Whichever of SPY and TAXE 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 TAXE?
SPY has an expense ratio of 0.09% while TAXE charges 0.24%. SPY is the cheaper option, by $15 a year on a $10,000 investment.
Which performed better, SPY or TAXE?
Over the past year SPY returned +15.87% vs +0.63% for TAXE, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +15.95% vs +2.91% for TAXE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TAXE?
SPY has been the more volatile fund at 12.2% annualized versus 3.7% for TAXE. Worst drawdown: SPY -18.8% vs TAXE -3.7%.
Should I hold both SPY and TAXE?
SPY and TAXE have a monthly-return correlation of 0.61, 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, SPY or TAXE?
SPY yields 0.98% while TAXE yields 3.74%, so TAXE currently pays the higher dividend yield.
Is TAXE better than SPY?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.