SPY vs TIME
State Street SPDR S&P 500 ETF Trust vs Clockwise US Core Equity ETF
Which is better, SPY or TIME?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 48.6%.
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 | TIME |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.96% |
| AUM | $804.7B | $15M |
| Dividend Yield | 0.98% | 9.41% |
| Holdings | 505 | 43 |
| YTD Return | +12.09%Best | +10.13% |
| 1Y Return | +16.29%Best | +13.11% |
| 3Y Return (annualized) | +21.20%Best | +17.17% |
| 5Y Return (annualized) | +13.37% | - |
| Volatility (annualized) | 15.6%Best | 24.4% |
| Max Drawdown | -22.1%Best | -42.2% |
| $10,000 over 4.6 years | $18,227Best | $14,345 |
| Top 10 Weight | 37.8%Best | 48.6% |
| Fund Family | State Street Investment Management | Clockwise Capital |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Jan 27, 2022 |
Volatility and max drawdown, and the $10,000 over 4.6 years row, are measured over the window both funds cover: Jan 28, 2022 to Sep 18, 2026 (4.6 years).
SPY vs TIME 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 4.6 years both funds cover.
SPY vs TIME Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Clockwise US Core Equity ETF (TIME) is an ETF from Clockwise Capital. Over the past year SPY returned +16.29% while TIME returned +13.11%. Year to date, SPY is up 12.09% versus a gain of 10.13% for TIME.
Over three years, SPY compounded at +21.20% per year against +17.17% for TIME.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TIME has been the more volatile fund, with annualized monthly volatility of 24.4% compared with 15.6% 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 -22.1% for SPY and -42.2% for TIME. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 0.98% against 9.41% for TIME.
Holdings Overlap
43.6% of SPY's money is in holdings TIME also owns. 74.8% of TIME's money is in holdings SPY also owns.
Most of TIME is already inside SPY. Owning both mostly buys the same companies twice.
31 positions in common, counted across the 504 positions we hold weights for in SPY and 43 in TIME, against full books of 505 and 43.
What only one of them owns
Our book lists 10 positions for TIME that do not appear in our book for SPY (23.2% of the fund), and 466 for SPY that do not appear in TIME (55.7%).
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 TIME | Difference |
|---|---|---|---|
| AAPLApple, Inc | 7.26% | 10.43% | 3.17% |
| NVDANvidia Corp | 8.01% | 7.22% | 0.79% |
| MSFTMicrosoft Corp | 5.66% | 5.10% | 0.56% |
| GOOGLAlphabet Inc,class A | 2.99% | 4.07% | 1.08% |
| AMZNAmazon.Com Inc | 3.79% | 2.96% | 0.83% |
| AVGOBroadcom Inc | 2.66% | 3.81% | 1.15% |
| INTCIntel Corporation | 0.67% | 3.85% | 3.18% |
| AMDAdvanced Micro Devices Inc | 1.14% | 3.10% | 1.96% |
| TSLATesla Inc | 1.52% | 2.16% | 0.64% |
| XOMExxonmobil Holdings Corp Common Stock Usd | 1.04% | 2.20% | 1.16% |
74.8% of TIME is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
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, by $87 a year on a $10,000 investment.
Which performed better, SPY or TIME?
Over the past year SPY returned +16.29% vs +13.11% for TIME, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TIME?
TIME has been the more volatile fund at 24.4% annualized versus 15.6% for SPY. Worst drawdown: SPY -22.1% vs TIME -42.2%.
Should I hold both SPY and TIME?
SPY and TIME have a monthly-return correlation of 0.83, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPY and TIME?
74.8% of TIME's money is in holdings SPY also owns. 74.8% of TIME's is in holdings SPY also owns. They hold 31 positions in common, counted across the 504 positions we hold weights for in SPY and 43 in TIME.
Which pays a higher dividend, SPY or TIME?
SPY yields 0.98% while TIME yields 9.41%, so TIME currently pays the higher dividend yield.
Is TIME better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 48.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.