SPY vs TIME
State Street SPDR S&P 500 ETF Trust vs Clockwise US Core Equity ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | TIME | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.96% | |
| AUM | $821.1B | $16M | |
| Dividend Yield | 1.01% | 9.41% | |
| Holdings | 505 | 46 | |
| YTD Return | +13.47% | +8.60% | |
| 1Y Return | +20.57% | +14.95% | |
| 3Y Return (annualized) | +21.83% | +17.29% | |
| 5Y Return (annualized) | +12.88% | - | |
| Volatility (annualized) | 15.3% | 24.6% | |
| Max Drawdown | -56.5% | -42.2% | |
| Fund Family | State Street Investment Management | Clockwise Capital | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jan 27, 2022 |
SPY vs TIME Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Clockwise US Core Equity ETF (TIME) is a ETF from Clockwise Capital. Over the past year SPY returned +20.57% while TIME returned +14.95%. Year to date, SPY is up 13.47% versus a gain of 8.60% for TIME.
Over three years, SPY compounded at +21.83% per year against +17.29% for TIME. Across the full 5-year window we track, SPY has the edge at +8.83% annualized vs +7.93%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TIME has been the more volatile fund, with annualized monthly volatility of 24.6% compared with 15.3% 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 -56.5% for SPY and -42.2% for TIME. 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while TIME charges 0.96%. On a $10,000 position that is $9 vs $96 annually, a gap of $87 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 9.41% for TIME.
Holdings Overlap
SPY and TIME share 27 holdings out of 519 unique holdings combined, representing a 40.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or TIME?
SPY has an expense ratio of 0.09% while TIME charges 0.96%. SPY is the cheaper option. On a $10,000 investment, that is $87 per year of difference.
Which performed better, SPY or TIME?
Over the past year SPY returned +20.57% vs +14.95% for TIME, so SPY leads on 1-year performance. Over the longest common window we track (5 years), SPY annualized +8.83% vs +7.93% for TIME. Past performance does not guarantee future results.
Which is riskier, SPY or TIME?
TIME has been the more volatile fund at 24.6% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs TIME -42.2%.
Should I hold both SPY and TIME?
SPY and TIME have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TIME?
SPY and TIME share 27 common holdings with a 40.8% weight overlap. Combined, they hold 519 unique securities.
Which pays a higher dividend, SPY or TIME?
SPY yields 1.01% while TIME yields 9.41%, so TIME currently pays the higher dividend yield.
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