SPY vs TFJL
State Street SPDR S&P 500 ETF Trust vs Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly
Which is better, SPY or TFJL?
Large Cap Blend against Multi Alternative.
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 | TFJL |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.79% |
| AUM | $804.7B | $4M |
| Dividend Yield | 0.98% | 0.00% |
| Holdings | 505 | 9 |
| YTD Return | +12.47%Best | -5.83% |
| 1Y Return | +17.51%Best | -9.45% |
| 3Y Return (annualized) | +21.18%Best | -1.30% |
| 5Y Return (annualized) | +12.88%Best | -4.83% |
| Volatility (annualized) | 15.4% | 8.4%Best |
| Max Drawdown | -24.5%Best | -25.8% |
| $10,000 over 5 years | $18,327Best | $7,807 |
| Fund Family | State Street Investment Management | Innovator ETFs Trust |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Multi Alternative |
| Inception | Jan 22, 1993 | Aug 17, 2020 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Aug 18, 2020 to Sep 11, 2026 (6.1 years).
SPY vs TFJL 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 6.1 years both funds cover.
SPY vs TFJL Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly (TFJL) is an ETF from Innovator ETFs Trust. Over the past year SPY returned +17.51% while TFJL returned -9.45%. Year to date, SPY is up 12.47% versus a loss of 5.83% for TFJL.
Over three years, SPY compounded at +21.18% per year against -1.30% for TFJL; over five years the annualized figures are +12.88% and -4.83% respectively. Across the full 6-year window we track, SPY has the edge at +15.77% annualized vs -4.74%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 8.4% for TFJL. 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 -24.5% for SPY and -25.8% for TFJL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.38. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while TFJL charges 0.79%. On a $10,000 position that is $9 vs $79 annually, a gap of $70 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.00% for TFJL.
You are not choosing between two funds in isolation.
Whichever of SPY and TFJL 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 TFJL?
SPY has an expense ratio of 0.09% while TFJL charges 0.79%. SPY is the cheaper option, by $70 a year on a $10,000 investment.
Which performed better, SPY or TFJL?
Over the past year SPY returned +17.51% vs -9.45% for TFJL, so SPY leads on 1-year performance. Over the longest common window we track (6 years), SPY annualized +15.77% vs -4.74% for TFJL. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TFJL?
SPY has been the more volatile fund at 15.4% annualized versus 8.4% for TFJL. Worst drawdown: SPY -24.5% vs TFJL -25.8%.
Should I hold both SPY and TFJL?
SPY and TFJL have a monthly-return correlation of 0.38, 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 TFJL?
SPY yields 0.98% while TFJL yields 0.00%, so SPY currently pays the higher dividend yield.
Is TFJL 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.