SPY vs TLTE
State Street SPDR S&P 500 ETF Trust vs FlexShares Morningstar Emerging Markets Factor Tilt Index Fund
Quick Verdict
SPY has a lower expense ratio. TLTE delivered stronger 1-year returns. TLTE offers more diversification with 2960 holdings.
Side-by-Side Comparison
| Metric | SPY | TLTE | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.57% | |
| AUM | $789.1B | $341M | |
| Dividend Yield | 1.01% | 3.24% | |
| Holdings | 505 | 3,106 | |
| YTD Return | +13.39% | +16.39% | |
| 1Y Return | +22.52% | +30.84% | |
| 3Y Return (annualized) | +21.36% | +19.76% | |
| 5Y Return (annualized) | +13.19% | +7.89% | |
| Volatility (annualized) | 15.3% | 16.6% | |
| Max Drawdown | -56.5% | -47.6% | |
| Fund Family | State Street Investment Management | Flexshares Trust | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Sep 25, 2012 |
SPY vs TLTE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE) is a ETF from Flexshares Trust. Over the past year SPY returned +22.52% while TLTE returned +30.84%. Year to date, SPY is up 13.39% versus a gain of 16.39% for TLTE.
Over three years, SPY compounded at +21.36% per year against +19.76% for TLTE; over five years the annualized figures are +13.19% and +7.89% respectively. Across the full 14-year window we track, SPY has the edge at +8.84% annualized vs +4.39%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TLTE has been the more volatile fund, with annualized monthly volatility of 16.6% 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 -47.6% for TLTE. 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 TLTE charges 0.57%. On a $10,000 position that is $9 vs $57 annually, a gap of $48 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 3.24% for TLTE.
Holdings Overlap
SPY and TLTE share 0 holdings out of 3463 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or TLTE?
SPY has an expense ratio of 0.09% while TLTE charges 0.57%. SPY is the cheaper option. On a $10,000 investment, that is $48 per year of difference.
Which performed better, SPY or TLTE?
Over the past year SPY returned +22.52% vs +30.84% for TLTE, so TLTE leads on 1-year performance. Over the longest common window we track (14 years), SPY annualized +8.84% vs +4.39% for TLTE. Past performance does not guarantee future results.
Which is riskier, SPY or TLTE?
TLTE has been the more volatile fund at 16.6% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs TLTE -47.6%.
Should I hold both SPY and TLTE?
SPY and TLTE have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TLTE?
SPY and TLTE share 0 common holdings with a 0.0% weight overlap. Combined, they hold 3463 unique securities.
Which pays a higher dividend, SPY or TLTE?
SPY yields 1.01% while TLTE yields 3.24%, so TLTE currently pays the higher dividend yield.
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