SPY vs THY
SPY vs THY
State Street SPDR S&P 500 ETF Trust vs Toews Agility Shares Dynamic Tactical Income ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | THY | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 1.03% | |
| AUM | $789.1B | $87M | |
| Dividend Yield | 1.01% | 5.42% | |
| Holdings | 505 | 2 | |
| YTD Return | +13.79% | +0.31% | |
| 1Y Return | +23.66% | +1.81% | |
| 3Y Return (annualized) | +21.40% | +4.61% | |
| 5Y Return (annualized) | +13.37% | +1.72% | |
| Volatility (annualized) | 15.3% | 4.0% | |
| Max Drawdown | -56.5% | -8.6% | |
| Fund Family | State Street Investment Management | TOEWS Funds | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Jun 25, 2020 |
SPY vs THY Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Toews Agility Shares Dynamic Tactical Income ETF (THY) is a ETF from TOEWS Funds. Over the past year SPY returned +23.66% while THY returned +1.81%. Year to date, SPY is up 13.79% versus a gain of 0.31% for THY.
Over three years, SPY compounded at +21.40% per year against +4.61% for THY; over five years the annualized figures are +13.37% and +1.72% respectively. Across the full 6-year window we track, SPY has the edge at +8.85% annualized vs +1.65%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 4.0% 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 -56.5% for SPY and -8.6% for THY. 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 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
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 1.01% against 5.42% for THY.
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. On a $10,000 investment, that is $94 per year of difference.
Which performed better, SPY or THY?
Over the past year SPY returned +23.66% vs +1.81% for THY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), SPY annualized +8.85% vs +1.65% for THY. Past performance does not guarantee future results.
Which is riskier, SPY or THY?
SPY has been the more volatile fund at 15.3% annualized versus 4.0% for THY. Worst drawdown: SPY -56.5% vs THY -8.6%.
Should I hold both SPY and THY?
SPY and THY have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, SPY or THY?
SPY yields 1.01% while THY yields 5.42%, so THY currently pays the higher dividend yield.
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