SPY vs TCPB
State Street SPDR S&P 500 ETF Trust vs Thrivent Core Plus Bond ETF
Which is better, SPY or TCPB?
Large Cap Blend against Investment Grade Bond.
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 | TCPB |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.39% |
| AUM | $804.7B | $485M |
| Dividend Yield | 0.98% | 5.22% |
| Holdings | 505 | 523 |
| YTD Return | +12.47%Best | -1.09% |
| 1Y Return | +17.51%Best | -0.97% |
| 3Y Return (annualized) | +21.18% | - |
| 5Y Return (annualized) | +12.88% | - |
| Volatility (annualized) | 13.1% | 3.4%Best |
| Max Drawdown | -18.8% | -2.8%Best |
| $10,000 over 1.6 years | $12,764Best | $10,528 |
| Fund Family | State Street Investment Management | Thrivent Funds |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | Investment Grade Bond |
| Inception | Jan 22, 1993 | Feb 19, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.6 years row, are measured over the window both funds cover: Feb 19, 2025 to Sep 11, 2026 (1.6 years).
SPY vs TCPB 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 1.6 years both funds cover.
SPY vs TCPB Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Thrivent Core Plus Bond ETF (TCPB) is an ETF from Thrivent Funds. Over the past year SPY returned +17.51% while TCPB returned -0.97%. Year to date, SPY is up 12.47% versus a loss of 1.09% for TCPB.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 13.1% compared with 3.4% for TCPB. 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 -2.8% for TCPB. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.29. They move largely independently of each other.
Fees and Cost Over Time
SPY charges 0.09% per year while TCPB charges 0.39%. On a $10,000 position that is $9 vs $39 annually, a gap of $30 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 5.22% for TCPB.
Holdings Overlap
At least 0.3% of SPY's money is in holdings TCPB also owns.
Stated as a floor: for TCPB, our book for it covers 40.9% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
2 positions in common, counted across the 504 positions we hold weights for in SPY and 226 in TCPB, against full books of 505 and 523.
You are not choosing between two funds in isolation.
Whichever of SPY and TCPB 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 TCPB?
SPY has an expense ratio of 0.09% while TCPB charges 0.39%. SPY is the cheaper option, by $30 a year on a $10,000 investment.
Which performed better, SPY or TCPB?
Over the past year SPY returned +17.51% vs -0.97% for TCPB, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +16.48% vs +3.27% for TCPB. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TCPB?
SPY has been the more volatile fund at 13.1% annualized versus 3.4% for TCPB. Worst drawdown: SPY -18.8% vs TCPB -2.8%.
Should I hold both SPY and TCPB?
SPY and TCPB have a monthly-return correlation of 0.29, 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 TCPB?
SPY yields 0.98% while TCPB yields 5.22%, so TCPB currently pays the higher dividend yield.
Is TCPB 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.