SPY vs TDV
State Street SPDR S&P 500 ETF Trust vs ProShares S&P Technology Dividend Aristocrats ETF
Which is better, SPY or TDV?
Large Cap Blend against Large Cap Growth.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and 5Y, TDV over the full window. The two have moved almost in lockstep, correlation 0.95. TDV is less concentrated, with 32.2% of the fund in its ten largest positions against 37.8%.
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 | TDV |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.45% |
| AUM | $804.7B | $274M |
| Dividend Yield | 0.98% | 1.03% |
| Holdings | 505 | 38 |
| YTD Return | +12.99% | +15.18%Best |
| 1Y Return | +16.73%Best | +14.70% |
| 3Y Return (annualized) | +22.52%Best | +17.90% |
| 5Y Return (annualized) | +13.07%Best | +11.40% |
| Volatility (annualized) | 16.8%Best | 19.0% |
| Max Drawdown | -34.1% | -32.8%Best |
| $10,000 over 5 years | $18,481Best | $17,156 |
| Top 10 Weight | 37.8% | 32.2%Best |
| Fund Family | State Street Investment Management | ProShares |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | Jan 22, 1993 | Nov 5, 2019 |
Volatility and max drawdown are measured over the window both funds cover: Nov 7, 2019 to Sep 23, 2026 (6.9 years).
SPY vs TDV 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 6.9 years both funds cover.
SPY vs TDV Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and ProShares S&P Technology Dividend Aristocrats ETF (TDV) is an ETF from ProShares. Over the past year SPY returned +16.73% while TDV returned +14.70%. Year to date, SPY is up 12.99% versus a gain of 15.18% for TDV.
Over three years, SPY compounded at +22.52% per year against +17.90% for TDV; over five years the annualized figures are +13.07% and +11.40% respectively. Across the full 7-year window we track, TDV has the edge at +15.53% annualized vs +15.43%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TDV has been the more volatile fund, with annualized monthly volatility of 19.0% compared with 16.8% 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 -34.1% for SPY and -32.8% for TDV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPY charges 0.09% per year while TDV charges 0.45%. On a $10,000 position that is $9 vs $45 annually, a gap of $36 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 1.03% for TDV.
Holdings Overlap
22.1% of SPY's money is in holdings TDV also owns. 70.9% of TDV's money is in holdings SPY also owns.
Most of TDV is already inside SPY. Owning both mostly buys the same companies twice.
26 positions in common, counted across the 504 positions we hold weights for in SPY and 37 in TDV, against full books of 505 and 38.
What only one of them owns
Our book lists 11 positions for TDV that do not appear in our book for SPY (29.0% of the fund), and 472 for SPY that do not appear in TDV (77.5%).
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 TDV | Difference |
|---|---|---|---|
| AAPLApple, Inc | 7.26% | 2.49% | 4.77% |
| MSFTMicrosoft Corp | 5.66% | 3.32% | 2.34% |
| AVGOBroadcom Inc | 2.66% | 2.39% | 0.27% |
| VVisa Inc Class A | 0.94% | 2.74% | 1.80% |
| ACN:IEAccenture plc, Class A | 0.18% | 3.46% | 3.28% |
| MAMastercard Inc | 0.71% | 2.83% | 2.12% |
| ORCLOracle Corp - Common | 0.36% | 3.03% | 2.67% |
| INTUIntuit, Inc. | 0.15% | 3.23% | 3.08% |
| ROPRoper Technologies Inc. | 0.06% | 3.22% | 3.16% |
| BRBroadridge Financial Solutions, Inc. | 0.03% | 3.23% | 3.20% |
70.9% of TDV is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or TDV?
SPY has an expense ratio of 0.09% while TDV charges 0.45%. SPY is the cheaper option, by $36 a year on a $10,000 investment.
Which performed better, SPY or TDV?
Over the past year SPY returned +16.73% vs +14.70% for TDV, so SPY leads on 1-year performance. Over the longest common window we track (7 years), SPY annualized +15.43% vs +15.53% for TDV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TDV?
TDV has been the more volatile fund at 19.0% annualized versus 16.8% for SPY. Worst drawdown: SPY -34.1% vs TDV -32.8%.
Should I hold both SPY and TDV?
SPY and TDV have a monthly-return correlation of 0.95, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SPY and TDV?
70.9% of TDV's money is in holdings SPY also owns. 70.9% of TDV's is in holdings SPY also owns. They hold 26 positions in common, counted across the 504 positions we hold weights for in SPY and 37 in TDV.
Which pays a higher dividend, SPY or TDV?
SPY yields 0.98% while TDV yields 1.03%, so TDV currently pays the higher dividend yield.
Is TDV better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and 5Y, TDV over the full window. The two have moved almost in lockstep, correlation 0.95. TDV is less concentrated, with 32.2% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.