SPY vs TMED
State Street SPDR S&P 500 ETF Trust vs T. Rowe Price Health Care ETF
Which is better, SPY or TMED?
Large Cap Blend against Large Cap Value.
SPY has a lower expense ratio. TMED led over 1Y and the full window.
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 | TMED |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.44% |
| AUM | $777.9B | $34M |
| Dividend Yield | 1.00% | 0.46% |
| Holdings | 1,011 | 240 |
| YTD Return | +12.09% | +19.40%Best |
| 1Y Return | +12.45% | +21.77%Best |
| 3Y Return (annualized) | +21.45% | - |
| 5Y Return (annualized) | +11.87% | - |
| Volatility (annualized) | 11.3%Best | 14.3% |
| Max Drawdown | -8.9%Best | -11.1% |
| $10,000 over 1.4 years | $12,759 | $14,125Best |
| Top 10 Weight | 38.9%Tie | 38.9%Tie |
| Fund Family | State Street Investment Management | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Jan 22, 1993 | Jun 11, 2025 |
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: Jun 12, 2025 to Nov 11, 2026 (1.4 years).
SPY vs TMED 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 1.4 years both funds cover.
SPY vs TMED Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and T. Rowe Price Health Care ETF (TMED) is an ETF from T.Rowe Price. Over the past year SPY returned +12.45% while TMED returned +21.77%. Year to date, SPY is up 12.09% versus a gain of 19.40% for TMED.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TMED has been the more volatile fund, with annualized monthly volatility of 14.3% compared with 11.3% 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 -8.9% for SPY and -11.1% for TMED. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.40. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while TMED charges 0.44%. On a $10,000 position that is $9 vs $44 annually, a gap of $35 per year that compounds over a long holding period. On income, SPY currently yields 1.00% against 0.46% for TMED.
Holdings Overlap
4.8% of SPY's money is in holdings TMED also owns. 53.1% of TMED's money is in holdings SPY also owns.
The two portfolios partly overlap.
27 positions in common, counted across the 504 positions we hold weights for in SPY and 111 in TMED, against full books of 1,011 and 240.
What only one of them owns
Our book lists 76 positions for TMED that do not appear in our book for SPY (43.3% of the fund), and 472 for SPY that do not appear in TMED (94.9%).
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 TMED | Difference |
|---|---|---|---|
| LLYEli Lilly & Co | 1.45% | 6.09% | 4.64% |
| UNHUnitedhealth Group Incorporated | 0.53% | 5.29% | 4.76% |
| TMOThermo Fisher | 0.37% | 3.60% | 3.23% |
| PODDInsulet Corp | 0.01% | 3.79% | 3.78% |
| GILDGilead Sciences | 0.29% | 3.32% | 3.03% |
| ISRGIntuitive Surgical Inc | 0.22% | 3.08% | 2.86% |
| AAgilent Technologies Inc | 0.07% | 3.05% | 2.98% |
| CORCencora Inc | 0.10% | 2.71% | 2.61% |
| DHRDanaher Corporation | 0.21% | 2.46% | 2.25% |
| WSTWest Pharmaceutical Services Inc | 0.04% | 2.63% | 2.59% |
53.1% of TMED 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 TMED?
SPY has an expense ratio of 0.09% while TMED charges 0.44%. SPY is the cheaper option, by $35 a year on a $10,000 investment.
Which performed better, SPY or TMED?
Over the past year SPY returned +12.45% vs +21.77% for TMED, so TMED leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +19.01% vs +27.98% for TMED. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TMED?
TMED has been the more volatile fund at 14.3% annualized versus 11.3% for SPY. Worst drawdown: SPY -8.9% vs TMED -11.1%.
Should I hold both SPY and TMED?
SPY and TMED have a monthly-return correlation of 0.40, 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 TMED?
53.1% of TMED's money is in holdings SPY also owns. 53.1% of TMED's is in holdings SPY also owns. They hold 27 positions in common, counted across the 504 positions we hold weights for in SPY and 111 in TMED.
Which pays a higher dividend, SPY or TMED?
SPY yields 1.00% while TMED yields 0.46%, so SPY currently pays the higher dividend yield.
Is TMED better than SPY?
SPY has a lower expense ratio. TMED led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.