SPY vs TEXN
State Street SPDR S&P 500 ETF Trust vs iShares Texas Equity ETF
Which is better, SPY or TEXN?
TEXN has been ahead.
SPY has a lower expense ratio. TEXN led over 1Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 53.2%.
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 | TEXN |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.20% |
| AUM | $804.7B | $19M |
| Dividend Yield | 0.98% | 1.35% |
| Holdings | 505 | 215 |
| YTD Return | +11.45% | +24.40%Best |
| 1Y Return | +15.87% | +25.33%Best |
| 3Y Return (annualized) | +20.93% | - |
| 5Y Return (annualized) | +12.59% | - |
| Volatility (annualized) | 12.1% | 10.8%Best |
| Max Drawdown | -8.9% | -8.8%Best |
| $10,000 over 1.2 years | $12,556 | $13,520Best |
| Top 10 Weight | 37.8%Best | 53.2% |
| Fund Family | State Street Investment Management | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Jun 23, 2025 |
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jun 24, 2025 to Sep 15, 2026 (1.2 years).
SPY vs TEXN 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 1.2 years both funds cover.
SPY vs TEXN Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and iShares Texas Equity ETF (TEXN) is an ETF from iShares by BlackRock (US). Over the past year SPY returned +15.87% while TEXN returned +25.33%. Year to date, SPY is up 11.45% versus a gain of 24.40% for TEXN.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.1% compared with 10.8% for TEXN. 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 -8.9% for SPY and -8.8% for TEXN. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.52. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while TEXN charges 0.20%. On a $10,000 position that is $9 vs $20 annually, a gap of $11 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 1.35% for TEXN.
Holdings Overlap
8.5% of SPY's money is in holdings TEXN also owns. 85.1% of TEXN's money is in holdings SPY also owns.
Most of TEXN is already inside SPY. Owning both mostly buys the same companies twice.
51 positions in common, counted across the 504 positions we hold weights for in SPY and 210 in TEXN, against full books of 505 and 215.
What only one of them owns
Our book lists 156 positions for TEXN that do not appear in our book for SPY (14.2% of the fund), and 446 for SPY that do not appear in TEXN (90.9%).
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 TEXN | Difference |
|---|---|---|---|
| XOMExxon Mobil Corp. | 1.04% | 11.12% | 10.08% |
| TSLATesla Inc | 1.52% | 9.02% | 7.50% |
| CVXChevron Corp | 0.60% | 6.36% | 5.76% |
| CATCaterpillar, Inc. | 0.55% | 6.02% | 5.47% |
| ORCLOracle Corp - Common | 0.36% | 4.25% | 3.89% |
| TXNTexas Instrument Inc | 0.35% | 3.95% | 3.60% |
| CRWDCrowdstrike Holdings Inc | 0.33% | 3.85% | 3.52% |
| SCHWSchwab Strategic T | 0.27% | 2.98% | 2.71% |
| TBBAt&t Inc | 0.27% | 2.92% | 2.65% |
| COPConocophillips Common Stock USD 0.01 | 0.25% | 2.69% | 2.44% |
85.1% of TEXN 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 TEXN?
SPY has an expense ratio of 0.09% while TEXN charges 0.20%. SPY is the cheaper option, by $11 a year on a $10,000 investment.
Which performed better, SPY or TEXN?
Over the past year SPY returned +15.87% vs +25.33% for TEXN, so TEXN leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +20.89% vs +28.57% for TEXN. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TEXN?
SPY has been the more volatile fund at 12.1% annualized versus 10.8% for TEXN. Worst drawdown: SPY -8.9% vs TEXN -8.8%.
Should I hold both SPY and TEXN?
SPY and TEXN have a monthly-return correlation of 0.52, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPY and TEXN?
85.1% of TEXN's money is in holdings SPY also owns. 85.1% of TEXN's is in holdings SPY also owns. They hold 51 positions in common, counted across the 504 positions we hold weights for in SPY and 210 in TEXN.
Which pays a higher dividend, SPY or TEXN?
SPY yields 0.98% while TEXN yields 1.35%, so TEXN currently pays the higher dividend yield.
Is TEXN better than SPY?
SPY has a lower expense ratio. TEXN led over 1Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 53.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.