SPY vs TSME
State Street SPDR S&P 500 ETF Trust vs Thrivent Small-Mid Cap Equity ETF
Which is better, SPY or TSME?
Large Cap Blend against Mid Cap Growth.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. TSME is less concentrated, with 22.0% of the fund in its ten largest positions against 38.2%.
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 | TSME |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.65% |
| AUM | $811.2B | $869M |
| Dividend Yield | 0.98% | 0.15% |
| Holdings | 1,515 | 148 |
| YTD Return | +12.70%Best | +8.45% |
| 1Y Return | +15.53%Best | +11.11% |
| 3Y Return (annualized) | +22.86%Best | +19.29% |
| 5Y Return (annualized) | +13.47% | - |
| Volatility (annualized) | 12.8%Best | 21.2% |
| Max Drawdown | -18.8%Best | -26.6% |
| $10,000 over 4 years | $21,386Best | $18,063 |
| Top 10 Weight | 38.2% | 22.0%Best |
| Fund Family | State Street Investment Management | Thrivent Funds |
| Category | Equity | Equity |
| Style | Large Cap Blend | Mid Cap Growth |
| Inception | Jan 22, 1993 | Oct 5, 2022 |
Volatility and max drawdown, and the $10,000 over 4 years row, are measured over the window both funds cover: Oct 5, 2022 to Oct 1, 2026 (4 years).
SPY vs TSME 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 4 years both funds cover.
SPY vs TSME Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Thrivent Small-Mid Cap Equity ETF (TSME) is an ETF from Thrivent Funds. Over the past year SPY returned +15.53% while TSME returned +11.11%. Year to date, SPY is up 12.70% versus a gain of 8.45% for TSME.
Over three years, SPY compounded at +22.86% per year against +19.29% for TSME. Across the full 4-year window we track, SPY has the edge at +20.93% annualized vs +15.93%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TSME has been the more volatile fund, with annualized monthly volatility of 21.2% compared with 12.8% 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 -18.8% for SPY and -26.6% for TSME. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while TSME 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 0.98% against 0.15% for TSME.
Holdings Overlap
0.8% of SPY's money is in holdings TSME also owns. 14.0% of TSME's money is in holdings SPY also owns.
TSME and SPY share little of their money.
11 positions in common, counted across the 504 positions we hold weights for in SPY and 73 in TSME, against full books of 1,515 and 148.
What only one of them owns
Our book lists 56 positions for TSME that do not appear in our book for SPY (76.6% of the fund), and 486 for SPY that do not appear in TSME (98.5%).
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 TSME | Difference |
|---|---|---|---|
| CORCencora Inc | 0.10% | 1.78% | 1.68% |
| LHLabcorp Holdings Inc | 0.04% | 1.71% | 1.67% |
| CASYCaseys General | 0.04% | 1.48% | 1.44% |
| HOODRobinhood Markets Inc - A | 0.14% | 1.34% | 1.20% |
| STLDSteel Dynamics, Inc. | 0.05% | 1.35% | 1.30% |
| PWRQuanta Services Inc | 0.14% | 1.18% | 1.04% |
| NINisource Inc. | 0.03% | 1.18% | 1.15% |
| COHRCoherent Corp | 0.08% | 1.12% | 1.04% |
| NTAPNetapp Inc | 0.06% | 1.06% | 1.00% |
| AKAMAkamai Technologies Inc. | 0.02% | 1.01% | 0.99% |
You are not choosing between two funds in isolation.
Whichever of SPY and TSME you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or TSME?
SPY has an expense ratio of 0.09% while TSME charges 0.65%. SPY is the cheaper option, by $56 a year on a $10,000 investment.
Which performed better, SPY or TSME?
Over the past year SPY returned +15.53% vs +11.11% for TSME, so SPY leads on 1-year performance. Over the longest common window we track (4 years), SPY annualized +20.93% vs +15.93% for TSME. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TSME?
TSME has been the more volatile fund at 21.2% annualized versus 12.8% for SPY. Worst drawdown: SPY -18.8% vs TSME -26.6%.
Should I hold both SPY and TSME?
SPY and TSME have a monthly-return correlation of 0.77, 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 TSME?
14.0% of TSME's money is in holdings SPY also owns. 14.0% of TSME's is in holdings SPY also owns. They hold 11 positions in common, counted across the 504 positions we hold weights for in SPY and 73 in TSME.
Which pays a higher dividend, SPY or TSME?
SPY yields 0.98% while TSME yields 0.15%, so SPY currently pays the higher dividend yield.
Is TSME better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. TSME is less concentrated, with 22.0% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.