SPY vs TRIO
State Street SPDR S&P 500 ETF Trust vs MC Trio Equity Buffered 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 | TRIO | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.70% | |
| AUM | $821.1B | $124M | |
| Dividend Yield | 1.01% | 0.00% | |
| Holdings | 505 | 3 | |
| YTD Return | +12.22% | +7.35% | |
| 1Y Return | +20.83% | +2.94% | |
| 3Y Return (annualized) | +21.70% | - | |
| 5Y Return (annualized) | +12.98% | - | |
| Volatility (annualized) | 15.3% | 9.2% | |
| Max Drawdown | -56.5% | -11.1% | |
| Fund Family | State Street Investment Management | McCarthy & Cox | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Mar 5, 2025 |
SPY vs TRIO Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and MC Trio Equity Buffered ETF (TRIO) is a ETF from McCarthy & Cox. Over the past year SPY returned +20.83% while TRIO returned +2.94%. Year to date, SPY is up 12.22% versus a gain of 7.35% for TRIO.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 9.2% for TRIO. 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 -11.1% for TRIO. 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 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while TRIO charges 0.70%. On a $10,000 position that is $9 vs $70 annually, a gap of $61 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.00% for TRIO.
Holdings Overlap
SPY and TRIO share 0 holdings out of 505 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 TRIO?
SPY has an expense ratio of 0.09% while TRIO charges 0.70%. SPY is the cheaper option. On a $10,000 investment, that is $61 per year of difference.
Which performed better, SPY or TRIO?
Over the past year SPY returned +20.83% vs +2.94% for TRIO, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +8.79% vs +7.11% for TRIO. Past performance does not guarantee future results.
Which is riskier, SPY or TRIO?
SPY has been the more volatile fund at 15.3% annualized versus 9.2% for TRIO. Worst drawdown: SPY -56.5% vs TRIO -11.1%.
Should I hold both SPY and TRIO?
SPY and TRIO have a monthly-return correlation of 0.70, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TRIO?
SPY and TRIO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, SPY or TRIO?
SPY yields 1.01% while TRIO yields 0.00%, so SPY currently pays the higher dividend yield.
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