SPY vs TEXN
State Street SPDR S&P 500 ETF Trust vs iShares Texas Equity ETF
Quick Verdict
SPY has a lower expense ratio. TEXN delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | TEXN | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.20% | |
| AUM | $821.1B | $17M | |
| Dividend Yield | 1.01% | 1.44% | |
| Holdings | 505 | 215 | |
| YTD Return | +12.68% | +23.33% | |
| 1Y Return | +21.82% | +32.42% | |
| 3Y Return (annualized) | +21.98% | - | |
| 5Y Return (annualized) | +12.89% | - | |
| Volatility (annualized) | 15.3% | 11.2% | |
| Max Drawdown | -56.5% | -8.8% | |
| Fund Family | State Street Investment Management | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jun 23, 2025 |
SPY vs TEXN Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and iShares Texas Equity ETF (TEXN) is a ETF from iShares by BlackRock (US). Over the past year SPY returned +21.82% while TEXN returned +32.42%. Year to date, SPY is up 12.68% versus a gain of 23.33% for TEXN.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 11.2% 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 -56.5% for SPY and -8.8% for TEXN. 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 0.51. They move independently enough that combining them can meaningfully diversify a portfolio.
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 1.01% against 1.44% for TEXN.
Holdings Overlap
SPY and TEXN share 52 holdings out of 664 unique holdings combined, representing a 8.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $11 per year of difference.
Which performed better, SPY or TEXN?
Over the past year SPY returned +21.82% vs +32.42% for TEXN, so TEXN leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +8.81% vs +29.52% for TEXN. Past performance does not guarantee future results.
Which is riskier, SPY or TEXN?
SPY has been the more volatile fund at 15.3% annualized versus 11.2% for TEXN. Worst drawdown: SPY -56.5% vs TEXN -8.8%.
Should I hold both SPY and TEXN?
SPY and TEXN have a monthly-return correlation of 0.51, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TEXN?
SPY and TEXN share 52 common holdings with a 8.2% weight overlap. Combined, they hold 664 unique securities.
Which pays a higher dividend, SPY or TEXN?
SPY yields 1.01% while TEXN yields 1.44%, so TEXN currently pays the higher dividend yield.
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