SPY vs THY
State Street SPDR S&P 500 ETF Trust vs Toews Agility Shares Dynamic Tactical Income ETF
Which is better, SPY or THY?
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 | THY |
|---|---|---|
| Expense Ratio | 0.09%Best | 1.03% |
| AUM | $804.7B | $88M |
| Dividend Yield | 0.98% | 5.50% |
| Holdings | 505 | 2 |
| YTD Return | +12.22%Best | -1.03% |
| 1Y Return | +16.97%Best | -1.34% |
| 3Y Return (annualized) | +21.16%Best | +4.55% |
| 5Y Return (annualized) | +13.00%Best | +1.32% |
| Volatility (annualized) | 15.5% | 4.1%Best |
| Max Drawdown | -24.5% | -8.6%Best |
| $10,000 over 5 years | $18,424Best | $10,678 |
| Top 10 Weight | 37.8% | - |
| Fund Family | State Street Investment Management | TOEWS Funds |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Multi Alternative |
| Inception | Jan 22, 1993 | Jun 25, 2020 |
Volatility and max drawdown are measured over the window both funds cover: Jun 25, 2020 to Sep 17, 2026 (6.2 years).
SPY vs THY 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
SPY vs THY Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Toews Agility Shares Dynamic Tactical Income ETF (THY) is an ETF from TOEWS Funds. Over the past year SPY returned +16.97% while THY returned -1.34%. Year to date, SPY is up 12.22% versus a loss of 1.03% for THY.
Over three years, SPY compounded at +21.16% per year against +4.55% for THY; over five years the annualized figures are +13.00% and +1.32% respectively. Across the full 6-year window we track, SPY has the edge at +17.09% annualized vs +1.40%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.5% compared with 4.1% for THY. 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 -8.6% for THY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.69. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while THY charges 1.03%. On a $10,000 position that is $9 vs $103 annually, a gap of $94 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 5.50% for THY.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 6 in THY, totalling 99.9% and 99.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 504 positions we hold weights for in SPY and 6 in THY, against full books of 505 and 2.
What only one of them owns
Measured across the 504 and 6 positions we hold weights for.
SPY holds 497 positions THY does not, 99.3% of the fund.
Largest: NVDA 8.01%, AAPL 7.26%, MSFT 5.66%, AMZN 3.79%, GOOGL 2.99%
You are not choosing between two funds in isolation.
Whichever of SPY and THY 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 THY?
SPY has an expense ratio of 0.09% while THY charges 1.03%. SPY is the cheaper option, by $94 a year on a $10,000 investment.
Which performed better, SPY or THY?
Over the past year SPY returned +16.97% vs -1.34% for THY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), SPY annualized +17.09% vs +1.40% for THY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or THY?
SPY has been the more volatile fund at 15.5% annualized versus 4.1% for THY. Worst drawdown: SPY -24.5% vs THY -8.6%.
Should I hold both SPY and THY?
SPY and THY have a monthly-return correlation of 0.69, 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 THY?
SPY yields 0.98% while THY yields 5.50%, so THY currently pays the higher dividend yield.
Is THY 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.