SPY vs TUR
State Street SPDR S&P 500 ETF Trust vs iShares MSCI Turkey 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 | TUR | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.59% | |
| AUM | $821.1B | $221M | |
| Dividend Yield | 1.01% | 2.23% | |
| Holdings | 505 | 77 | |
| YTD Return | +13.17% | +17.84% | |
| 1Y Return | +21.53% | +20.50% | |
| 3Y Return (annualized) | +22.06% | +6.01% | |
| 5Y Return (annualized) | +13.35% | +15.50% | |
| Volatility (annualized) | 15.3% | 33.8% | |
| Max Drawdown | -56.5% | -77.5% | |
| Fund Family | State Street Investment Management | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Mar 26, 2008 |
SPY vs TUR Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and iShares MSCI Turkey ETF (TUR) is a ETF from iShares by BlackRock (US). Over the past year SPY returned +21.53% while TUR returned +20.50%. Year to date, SPY is up 13.17% versus a gain of 17.84% for TUR.
Over three years, SPY compounded at +22.06% per year against +6.01% for TUR; over five years the annualized figures are +13.35% and +15.50% respectively. Across the full 18-year window we track, SPY has the edge at +8.82% annualized vs -0.23%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TUR has been the more volatile fund, with annualized monthly volatility of 33.8% 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 -77.5% for TUR. 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 0.44. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while TUR charges 0.59%. On a $10,000 position that is $9 vs $59 annually, a gap of $50 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 2.23% for TUR.
Holdings Overlap
SPY and TUR share 0 holdings out of 578 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 TUR?
SPY has an expense ratio of 0.09% while TUR charges 0.59%. SPY is the cheaper option. On a $10,000 investment, that is $50 per year of difference.
Which performed better, SPY or TUR?
Over the past year SPY returned +21.53% vs +20.50% for TUR, so SPY leads on 1-year performance. Over the longest common window we track (18 years), SPY annualized +8.82% vs -0.23% for TUR. Past performance does not guarantee future results.
Which is riskier, SPY or TUR?
TUR has been the more volatile fund at 33.8% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs TUR -77.5%.
Should I hold both SPY and TUR?
SPY and TUR have a monthly-return correlation of 0.44, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TUR?
SPY and TUR share 0 common holdings with a 0.0% weight overlap. Combined, they hold 578 unique securities.
Which pays a higher dividend, SPY or TUR?
SPY yields 1.01% while TUR yields 2.23%, so TUR currently pays the higher dividend yield.
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