SPY vs TIER
State Street SPDR S&P 500 ETF Trust vs T. Rowe Price International Equity Research ETF
Which is better, SPY or TIER?
TIER has been ahead.
SPY has a lower expense ratio. TIER led over 1Y and the full window. TIER is less concentrated, with 16.7% of the fund in its ten largest positions against 38.0%.
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 | TIER |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.38% |
| AUM | $804.7B | $44M |
| Dividend Yield | 0.98% | 0.66% |
| Holdings | 505 | 411 |
| YTD Return | +12.47% | +14.67%Best |
| 1Y Return | +17.51% | +22.58%Best |
| 3Y Return (annualized) | +21.18% | - |
| 5Y Return (annualized) | +12.88% | - |
| Volatility (annualized) | 11.9%Best | 13.7% |
| Max Drawdown | -8.9%Best | -12.1% |
| $10,000 over 1.2 years | $12,605 | $13,038Best |
| Top 10 Weight | 38.0% | 16.7%Best |
| Fund Family | State Street Investment Management | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Jun 25, 2025 |
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jun 26, 2025 to Sep 11, 2026 (1.2 years).
SPY vs TIER 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 1.2 years both funds cover.
SPY vs TIER Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and T. Rowe Price International Equity Research ETF (TIER) is an ETF from T.Rowe Price. Over the past year SPY returned +17.51% while TIER returned +22.58%. Year to date, SPY is up 12.47% versus a gain of 14.67% for TIER.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TIER has been the more volatile fund, with annualized monthly volatility of 13.7% compared with 11.9% for SPY. 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 -8.9% for SPY and -12.1% for TIER. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while TIER charges 0.38%. On a $10,000 position that is $9 vs $38 annually, a gap of $29 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.66% for TIER.
Holdings Overlap
0.1% of SPY's money is in holdings TIER also owns. 0.1% of TIER's money is in holdings SPY also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 504 positions we hold weights for in SPY and 390 in TIER, against full books of 505 and 411.
What only one of them owns
Our book lists 14 positions for TIER that do not appear in our book for SPY (4.3% of the fund), and 493 for SPY that do not appear in TIER (99.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SPY | Weight in TIER | Difference |
|---|---|---|---|
| RMDResmed Inc. | 0.05% | 0.14% | 0.09% |
You are not choosing between two funds in isolation.
Whichever of SPY and TIER 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 TIER?
SPY has an expense ratio of 0.09% while TIER charges 0.38%. SPY is the cheaper option, by $29 a year on a $10,000 investment.
Which performed better, SPY or TIER?
Over the past year SPY returned +17.51% vs +22.58% for TIER, so TIER leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +21.28% vs +24.74% for TIER. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TIER?
TIER has been the more volatile fund at 13.7% annualized versus 11.9% for SPY. Worst drawdown: SPY -8.9% vs TIER -12.1%.
Should I hold both SPY and TIER?
SPY and TIER have a monthly-return correlation of 0.76, 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 TIER?
SPY yields 0.98% while TIER yields 0.66%, so SPY currently pays the higher dividend yield.
Is TIER better than SPY?
SPY has a lower expense ratio. TIER led over 1Y and the full window. TIER is less concentrated, with 16.7% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.