SPY vs TDTF
State Street SPDR S&P 500 ETF Trust vs Northern Trust iBoxx 5-Year Target Duration TIPS ETF
Which is better, SPY or TDTF?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y 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 | TDTF |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.18% |
| AUM | $804.7B | $1.0B |
| Dividend Yield | 0.98% | 5.86% |
| Holdings | 505 | 18 |
| YTD Return | +11.52%Best | +0.38% |
| 1Y Return | +17.48%Best | -0.17% |
| 3Y Return (annualized) | +20.62%Best | +4.47% |
| 5Y Return (annualized) | +12.73%Best | +0.93% |
| Volatility (annualized) | 14.1% | 4.3%Best |
| Max Drawdown | -34.1% | -12.0%Best |
| $10,000 over 5 years | $18,205Best | $10,474 |
| Fund Family | State Street Investment Management | Northern Trust Asset Management |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | - |
| Inception | Jan 22, 1993 | Sep 19, 2011 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 22, 2011 to Sep 10, 2026 (15 years).
SPY vs TDTF 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
SPY vs TDTF Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Northern Trust iBoxx 5-Year Target Duration TIPS ETF (TDTF) is an ETF from Northern Trust Asset Management. Over the past year SPY returned +17.48% while TDTF returned -0.17%. Year to date, SPY is up 11.52% versus a gain of 0.38% for TDTF.
Over three years, SPY compounded at +20.62% per year against +4.47% for TDTF; over five years the annualized figures are +12.73% and +0.93% respectively. Across the full 15-year window we track, SPY has the edge at +14.13% annualized vs +1.29%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 4.3% for TDTF. 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 -34.1% for SPY and -12.0% for TDTF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.41. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while TDTF charges 0.18%. On a $10,000 position that is $9 vs $18 annually, a gap of $9 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 5.86% for TDTF.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 14 in TDTF, totalling 100.0% and 82.7% 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 14 in TDTF, against full books of 505 and 18.
You are not choosing between two funds in isolation.
Whichever of SPY and TDTF 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 TDTF?
SPY has an expense ratio of 0.09% while TDTF charges 0.18%. SPY is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, SPY or TDTF?
Over the past year SPY returned +17.48% vs -0.17% for TDTF, so SPY leads on 1-year performance. Over the longest common window we track (15 years), SPY annualized +14.13% vs +1.29% for TDTF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TDTF?
SPY has been the more volatile fund at 14.1% annualized versus 4.3% for TDTF. Worst drawdown: SPY -34.1% vs TDTF -12.0%.
Should I hold both SPY and TDTF?
SPY and TDTF have a monthly-return correlation of 0.41, 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 TDTF?
SPY yields 0.98% while TDTF yields 5.86%, so TDTF currently pays the higher dividend yield.
Is TDTF better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.