SPY vs TURF
State Street SPDR S&P 500 ETF Trust vs T. Rowe Price Natural Resources ETF
Quick Verdict
SPY has a lower expense ratio. TURF delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | TURF | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.44% | |
| AUM | $814.4B | $328M | |
| Dividend Yield | 1.01% | 1.33% | |
| Holdings | 505 | 95 | |
| YTD Return | +12.60% | +23.13% | |
| 1Y Return | +20.83% | +37.61% | |
| 3Y Return (annualized) | +20.98% | - | |
| 5Y Return (annualized) | +12.56% | - | |
| Volatility (annualized) | 15.3% | 18.6% | |
| Max Drawdown | -56.5% | -13.2% | |
| Fund Family | State Street Investment Management | T.Rowe Price | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jun 11, 2025 |
SPY vs TURF Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and T. Rowe Price Natural Resources ETF (TURF) is a ETF from T.Rowe Price. Over the past year SPY returned +20.83% while TURF returned +37.61%. Year to date, SPY is up 12.60% versus a gain of 23.13% for TURF.
Risk: Volatility and Drawdowns
TURF has been the more volatile fund, with annualized monthly volatility of 18.6% 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 -13.2% for TURF. 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 -0.01. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while TURF charges 0.44%. On a $10,000 position that is $9 vs $44 annually, a gap of $35 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 1.33% for TURF.
Holdings Overlap
SPY and TURF share 12 holdings out of 575 unique holdings combined, representing a 2.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or TURF?
SPY has an expense ratio of 0.09% while TURF charges 0.44%. SPY is the cheaper option. On a $10,000 investment, that is $35 per year of difference.
Which performed better, SPY or TURF?
Over the past year SPY returned +20.83% vs +37.61% for TURF, so TURF leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +8.79% vs +36.41% for TURF. Past performance does not guarantee future results.
Which is riskier, SPY or TURF?
TURF has been the more volatile fund at 18.6% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs TURF -13.2%.
Should I hold both SPY and TURF?
SPY and TURF have a monthly-return correlation of -0.01, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TURF?
SPY and TURF share 12 common holdings with a 2.1% weight overlap. Combined, they hold 575 unique securities.
Which pays a higher dividend, SPY or TURF?
SPY yields 1.01% while TURF yields 1.33%, so TURF currently pays the higher dividend yield.
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