SPY vs TOCT
State Street SPDR S&P 500 ETF Trust vs Innovator Equity Defined Protection ETF - 2 Yr to October 2027
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 | TOCT | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.79% | |
| AUM | $814.4B | $14M | |
| Dividend Yield | 1.01% | 0.00% | |
| Holdings | 505 | 5 | |
| YTD Return | +12.10% | +2.98% | |
| 1Y Return | +20.30% | +3.33% | |
| 3Y Return (annualized) | +20.82% | - | |
| 5Y Return (annualized) | +12.53% | - | |
| Volatility (annualized) | 15.3% | - | |
| Max Drawdown | -56.5% | -2.0% | |
| Fund Family | State Street Investment Management | Innovator ETFs Trust | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Oct 1, 2025 |
SPY vs TOCT Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Innovator Equity Defined Protection ETF - 2 Yr to October 2027 (TOCT) is a ETF from Innovator ETFs Trust. Over the past year SPY returned +20.30% while TOCT returned +3.33%. Year to date, SPY is up 12.10% versus a gain of 2.98% for TOCT.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -56.5% for SPY and -2.0% for TOCT. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
SPY charges 0.09% per year while TOCT charges 0.79%. On a $10,000 position that is $9 vs $79 annually, a gap of $70 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.00% for TOCT.
Frequently Asked Questions
Which is cheaper, SPY or TOCT?
SPY has an expense ratio of 0.09% while TOCT charges 0.79%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, SPY or TOCT?
Over the past year SPY returned +20.30% vs +3.33% for TOCT, so SPY leads on 1-year performance. Past performance does not guarantee future results.
Which pays a higher dividend, SPY or TOCT?
SPY yields 1.01% while TOCT yields 0.00%, so SPY currently pays the higher dividend yield.
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