SPY vs TPMN
State Street SPDR S&P 500 ETF Trust vs Timothy Plan Market Neutral ETF
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 | TPMN | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.65% | |
| AUM | $821.1B | $31M | |
| Dividend Yield | 1.01% | 4.08% | |
| Holdings | 505 | 298 | |
| YTD Return | +12.22% | +2.40% | |
| 1Y Return | +20.83% | +4.75% | |
| 3Y Return (annualized) | +21.70% | - | |
| 5Y Return (annualized) | +12.98% | - | |
| Volatility (annualized) | 15.3% | 4.5% | |
| Max Drawdown | -56.5% | -5.1% | |
| Fund Family | State Street Investment Management | Timothy Plan | |
| Category | Equity | Allocation/Balanced | |
| Inception | Jan 22, 1993 | Jan 24, 2023 |
SPY vs TPMN Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Timothy Plan Market Neutral ETF (TPMN) is a ETF from Timothy Plan. Over the past year SPY returned +20.83% while TPMN returned +4.75%. Year to date, SPY is up 12.22% versus a gain of 2.40% for TPMN.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 4.5% for TPMN. 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 -5.1% for TPMN. 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 -0.41. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while TPMN charges 0.65%. On a $10,000 position that is $9 vs $65 annually, a gap of $56 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 4.08% for TPMN.
Frequently Asked Questions
Which is cheaper, SPY or TPMN?
SPY has an expense ratio of 0.09% while TPMN charges 0.65%. SPY is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, SPY or TPMN?
Over the past year SPY returned +20.83% vs +4.75% for TPMN, so SPY leads on 1-year performance. Over the longest common window we track (3 years), SPY annualized +8.79% vs +4.14% for TPMN. Past performance does not guarantee future results.
Which is riskier, SPY or TPMN?
SPY has been the more volatile fund at 15.3% annualized versus 4.5% for TPMN. Worst drawdown: SPY -56.5% vs TPMN -5.1%.
Should I hold both SPY and TPMN?
SPY and TPMN have a monthly-return correlation of -0.41, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, SPY or TPMN?
SPY yields 1.01% while TPMN yields 4.08%, so TPMN currently pays the higher dividend yield.
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