SPY vs TBLU
State Street SPDR S&P 500 ETF Trust vs Tortoise Global Water Fund
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 | SPY | TBLU | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.40% | |
| AUM | $789.1B | $57M | |
| Dividend Yield | 1.01% | 3.44% | |
| Holdings | 505 | 63 | |
| YTD Return | +14.47% | +2.54% | |
| 1Y Return | +21.96% | -1.94% | |
| 3Y Return (annualized) | +21.70% | +10.49% | |
| 5Y Return (annualized) | +13.30% | +3.46% | |
| Volatility (annualized) | 15.3% | 17.2% | |
| Max Drawdown | -56.5% | -37.6% | |
| Fund Family | State Street Investment Management | Tortoise Capital | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Feb 14, 2017 |
SPY vs TBLU Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Tortoise Global Water Fund (TBLU) is a ETF from Tortoise Capital. Over the past year SPY returned +21.96% while TBLU returned -1.94%. Year to date, SPY is up 14.47% versus a gain of 2.54% for TBLU.
Over three years, SPY compounded at +21.70% per year against +10.49% for TBLU; over five years the annualized figures are +13.30% and +3.46% respectively. Across the full 10-year window we track, TBLU has the edge at +9.17% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TBLU has been the more volatile fund, with annualized monthly volatility of 17.2% compared with 15.3% 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 -56.5% for SPY and -37.6% for TBLU. 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while TBLU charges 0.40%. On a $10,000 position that is $9 vs $40 annually, a gap of $31 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 3.44% for TBLU.
Holdings Overlap
SPY and TBLU share 7 holdings out of 557 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or TBLU?
SPY has an expense ratio of 0.09% while TBLU charges 0.40%. SPY is the cheaper option. On a $10,000 investment, that is $31 per year of difference.
Which performed better, SPY or TBLU?
Over the past year SPY returned +21.96% vs -1.94% for TBLU, so SPY leads on 1-year performance. Over the longest common window we track (10 years), SPY annualized +8.87% vs +9.17% for TBLU. Past performance does not guarantee future results.
Which is riskier, SPY or TBLU?
TBLU has been the more volatile fund at 17.2% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs TBLU -37.6%.
Should I hold both SPY and TBLU?
SPY and TBLU have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TBLU?
SPY and TBLU share 7 common holdings with a 0.3% weight overlap. Combined, they hold 557 unique securities.
Which pays a higher dividend, SPY or TBLU?
SPY yields 1.01% while TBLU yields 3.44%, so TBLU currently pays the higher dividend yield.
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