SPY vs TSMY
State Street SPDR S&P 500 ETF Trust vs YieldMax TSM Option Income Strategy ETF
Quick Verdict
SPY has a lower expense ratio. TSMY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | TSMY | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 1.01% | |
| AUM | $821.1B | $111M | |
| Dividend Yield | 1.01% | 58.71% | |
| Holdings | 505 | 23 | |
| YTD Return | +12.68% | +28.23% | |
| 1Y Return | +21.82% | +67.00% | |
| 3Y Return (annualized) | +21.98% | - | |
| 5Y Return (annualized) | +12.89% | - | |
| Volatility (annualized) | 15.3% | 27.5% | |
| Max Drawdown | -56.5% | -31.1% | |
| Fund Family | State Street Investment Management | YieldMax ETF | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Aug 20, 2024 |
SPY vs TSMY Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and YieldMax TSM Option Income Strategy ETF (TSMY) is a ETF from YieldMax ETF. Over the past year SPY returned +21.82% while TSMY returned +67.00%. Year to date, SPY is up 12.68% versus a gain of 28.23% for TSMY.
Risk: Volatility and Drawdowns
TSMY has been the more volatile fund, with annualized monthly volatility of 27.5% compared with 15.3% 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 -56.5% for SPY and -31.1% for TSMY. 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 0.50. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while TSMY charges 1.01%. On a $10,000 position that is $9 vs $101 annually, a gap of $92 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 58.71% for TSMY.
Holdings Overlap
SPY and TSMY share 0 holdings out of 507 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 TSMY?
SPY has an expense ratio of 0.09% while TSMY charges 1.01%. SPY is the cheaper option. On a $10,000 investment, that is $92 per year of difference.
Which performed better, SPY or TSMY?
Over the past year SPY returned +21.82% vs +67.00% for TSMY, so TSMY leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +8.81% vs +42.26% for TSMY. Past performance does not guarantee future results.
Which is riskier, SPY or TSMY?
TSMY has been the more volatile fund at 27.5% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs TSMY -31.1%.
Should I hold both SPY and TSMY?
SPY and TSMY have a monthly-return correlation of 0.50, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TSMY?
SPY and TSMY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, SPY or TSMY?
SPY yields 1.01% while TSMY yields 58.71%, so TSMY currently pays the higher dividend yield.
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