SPY vs TSPY
State Street SPDR S&P 500 ETF Trust vs TappAlpha S&P 500 Growth & Daily Income ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | TSPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.71% | |
| AUM | $789.1B | $300M | |
| Dividend Yield | 1.01% | 16.26% | |
| Holdings | 505 | 5 | |
| YTD Return | +13.39% | +9.22% | |
| 1Y Return | +22.52% | +19.23% | |
| 3Y Return (annualized) | +21.36% | - | |
| 5Y Return (annualized) | +13.19% | - | |
| Volatility (annualized) | 15.3% | 12.6% | |
| Max Drawdown | -56.5% | -18.0% | |
| Fund Family | State Street Investment Management | TappAlpha | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Aug 14, 2024 |
SPY vs TSPY Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and TappAlpha S&P 500 Growth & Daily Income ETF (TSPY) is a ETF from TappAlpha. Over the past year SPY returned +22.52% while TSPY returned +19.23%. Year to date, SPY is up 13.39% versus a gain of 9.22% for TSPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.6% for TSPY. 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 -18.0% for TSPY. 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 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPY charges 0.09% per year while TSPY charges 0.71%. On a $10,000 position that is $9 vs $71 annually, a gap of $62 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 16.26% for TSPY.
Holdings Overlap
SPY and TSPY 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 TSPY?
SPY has an expense ratio of 0.09% while TSPY charges 0.71%. SPY is the cheaper option. On a $10,000 investment, that is $62 per year of difference.
Which performed better, SPY or TSPY?
Over the past year SPY returned +22.52% vs +19.23% for TSPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +8.84% vs +17.57% for TSPY. Past performance does not guarantee future results.
Which is riskier, SPY or TSPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.6% for TSPY. Worst drawdown: SPY -56.5% vs TSPY -18.0%.
Should I hold both SPY and TSPY?
SPY and TSPY have a monthly-return correlation of 0.97, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SPY and TSPY?
SPY and TSPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, SPY or TSPY?
SPY yields 1.01% while TSPY yields 16.26%, so TSPY currently pays the higher dividend yield.
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