SPY vs TSMU
State Street SPDR S&P 500 ETF Trust vs GraniteShares 2x Long TSM Daily ETF
Which is better, SPY or TSMU?
Large Cap Blend against Multi Alternative.
SPY has a lower expense ratio. TSMU led over 1Y and the full window.
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 | TSMU |
|---|---|---|
| Expense Ratio | 0.09%Best | 1.50% |
| AUM | $804.7B | $48M |
| Dividend Yield | 0.98% | 0.00% |
| Holdings | 505 | 2 |
| YTD Return | +11.52% | +43.65%Best |
| 1Y Return | +17.48% | +99.98%Best |
| 3Y Return (annualized) | +20.62% | - |
| 5Y Return (annualized) | +12.73% | - |
| Volatility (annualized) | 12.7%Best | 71.3% |
| Max Drawdown | -18.8%Best | -63.7% |
| $10,000 over 1.8 years | $12,909 | $28,122Best |
| Fund Family | State Street Investment Management | GraniteShares |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Multi Alternative |
| Inception | Jan 22, 1993 | Nov 11, 2024 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Nov 12, 2024 to Sep 10, 2026 (1.8 years).
SPY vs TSMU 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 TSMU Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and GraniteShares 2x Long TSM Daily ETF (TSMU) is an ETF from GraniteShares. Over the past year SPY returned +17.48% while TSMU returned +99.98%. Year to date, SPY is up 11.52% versus a gain of 43.65% for TSMU.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TSMU has been the more volatile fund, with annualized monthly volatility of 71.3% compared with 12.7% 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 -63.7% for TSMU. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.61. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while TSMU charges 1.50%. On a $10,000 position that is $9 vs $150 annually, a gap of $141 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.00% for TSMU.
Holdings Overlap
At least 0.2% of SPY's money is in holdings TSMU also owns.
Stated as a floor: for TSMU, our book for it covers 66.7% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 504 positions we hold weights for in SPY and 1 in TSMU, against full books of 505 and 2.
Top Shared Holdings
| Stock | Weight in SPY | Weight in TSMU | Difference |
|---|---|---|---|
| UBERUber Technologies Inc | 0.22% | 66.67% | 66.45% |
You are not choosing between two funds in isolation.
Whichever of SPY and TSMU 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 TSMU?
SPY has an expense ratio of 0.09% while TSMU charges 1.50%. SPY is the cheaper option, by $141 a year on a $10,000 investment.
Which performed better, SPY or TSMU?
Over the past year SPY returned +17.48% vs +99.98% for TSMU, so TSMU leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +15.24% vs +77.61% for TSMU. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TSMU?
TSMU has been the more volatile fund at 71.3% annualized versus 12.7% for SPY. Worst drawdown: SPY -18.8% vs TSMU -63.7%.
Should I hold both SPY and TSMU?
SPY and TSMU have a monthly-return correlation of 0.61, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPY or TSMU?
SPY yields 0.98% while TSMU yields 0.00%, so SPY currently pays the higher dividend yield.
Is TSMU better than SPY?
SPY has a lower expense ratio. TSMU led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.