SPY vs TEXX
State Street SPDR S&P 500 ETF Trust vs Horizon Kinetics Texas ETF
Quick Verdict
SPY has a lower expense ratio. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | TEXX | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.85% | |
| AUM | $821.1B | $3M | |
| Dividend Yield | 1.01% | 0.00% | |
| Holdings | 505 | 34 | |
| YTD Return | +12.68% | +20.50% | |
| 1Y Return | +21.82% | - | |
| 3Y Return (annualized) | +21.98% | - | |
| 5Y Return (annualized) | +12.89% | - | |
| Volatility (annualized) | 15.3% | - | |
| Max Drawdown | -56.5% | -5.9% | |
| Fund Family | State Street Investment Management | Horizon Kinetics LLC | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jan 21, 2026 |
SPY vs TEXX Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Horizon Kinetics Texas ETF (TEXX) is a ETF from Horizon Kinetics LLC. Year to date, SPY is up 12.68% versus a gain of 20.50% for TEXX.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -56.5% for SPY and -5.9% for TEXX. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
SPY charges 0.09% per year while TEXX charges 0.85%. On a $10,000 position that is $9 vs $85 annually, a gap of $76 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.00% for TEXX.
Holdings Overlap
SPY and TEXX share 16 holdings out of 520 unique holdings combined, representing a 2.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or TEXX?
SPY has an expense ratio of 0.09% while TEXX charges 0.85%. SPY is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
What is the holdings overlap between SPY and TEXX?
SPY and TEXX share 16 common holdings with a 2.6% weight overlap. Combined, they hold 520 unique securities.
Which pays a higher dividend, SPY or TEXX?
SPY yields 1.01% while TEXX yields 0.00%, so SPY currently pays the higher dividend yield.
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