SPY vs TNXT
State Street SPDR S&P 500 ETF Trust vs T. Rowe Price Innovation Leaders ETF
Which is better, SPY or TNXT?
SPY costs less.
SPY has a lower expense ratio. TNXT is less concentrated, with 33.6% of the fund in its ten largest positions against 37.8%.
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 | TNXT |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.49% |
| AUM | $804.7B | $18M |
| Dividend Yield | 0.98% | 0.00% |
| Holdings | 505 | 303 |
| YTD Return | +10.96% | +12.47%Best |
| 1Y Return | +15.52% | - |
| 3Y Return (annualized) | +20.73% | - |
| 5Y Return (annualized) | +12.53% | - |
| Top 10 Weight | 37.8% | 33.6%Best |
| Fund Family | State Street Investment Management | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Jan 28, 2026 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
SPY vs TNXT 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
SPY vs TNXT Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and T. Rowe Price Innovation Leaders ETF (TNXT) is an ETF from T.Rowe Price. Year to date, SPY is up 10.96% versus a gain of 12.47% for TNXT.
Past performance does not guarantee future results.
Fees and Cost Over Time
SPY charges 0.09% per year while TNXT charges 0.49%. On a $10,000 position that is $9 vs $49 annually, a gap of $40 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.00% for TNXT.
Holdings Overlap
54.6% of SPY's money is in holdings TNXT also owns. 64.9% of TNXT's money is in holdings SPY also owns.
The two portfolios partly overlap.
83 positions in common, counted across the 504 positions we hold weights for in SPY and 270 in TNXT, against full books of 505 and 303.
What only one of them owns
Our book lists 120 positions for TNXT that do not appear in our book for SPY (20.4% of the fund), and 414 for SPY that do not appear in TNXT (44.7%).
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 TNXT | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.01% | 7.98% | 0.03% |
| AAPLApple, Inc | 7.26% | 5.27% | 1.99% |
| MSFTMicrosoft Corp | 5.66% | 3.72% | 1.94% |
| AMZNAmazon.Com Inc | 3.79% | 3.94% | 0.15% |
| AVGOBroadcom Inc | 2.66% | 2.90% | 0.24% |
| GOOGLAlphabet Inc,class A | 2.99% | 2.30% | 0.69% |
| GOOGAlphabet Inc | 2.39% | 2.10% | 0.29% |
| METAMeta Platforms Inc | 1.93% | 1.61% | 0.32% |
| AMDAdvanced Micro Devices Inc | 1.14% | 2.10% | 0.96% |
| MUMicron Technology, Inc. | 1.60% | 1.62% | 0.02% |
64.9% of TNXT 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 TNXT?
SPY has an expense ratio of 0.09% while TNXT charges 0.49%. SPY is the cheaper option, by $40 a year on a $10,000 investment.
What is the holdings overlap between SPY and TNXT?
64.9% of TNXT's money is in holdings SPY also owns. 64.9% of TNXT's is in holdings SPY also owns. They hold 83 positions in common, counted across the 504 positions we hold weights for in SPY and 270 in TNXT.
Which pays a higher dividend, SPY or TNXT?
SPY yields 0.98% while TNXT yields 0.00%, so SPY currently pays the higher dividend yield.
Is TNXT better than SPY?
SPY has a lower expense ratio. TNXT is less concentrated, with 33.6% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.