SPY vs TXS
State Street SPDR S&P 500 ETF Trust vs Texas Capital Texas Equity Index ETF
Quick Verdict
SPY has a lower expense ratio. TXS delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | TXS | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.49% | |
| AUM | $821.1B | $39M | |
| Dividend Yield | 1.01% | 0.78% | |
| Holdings | 505 | 457 | |
| YTD Return | +12.93% | +18.88% | |
| 1Y Return | +20.62% | +22.94% | |
| 3Y Return (annualized) | +22.00% | +21.40% | |
| 5Y Return (annualized) | +13.33% | - | |
| Volatility (annualized) | 15.3% | 14.0% | |
| Max Drawdown | -56.5% | -19.7% | |
| Fund Family | State Street Investment Management | Texas Capital | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jul 12, 2023 |
SPY vs TXS Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Texas Capital Texas Equity Index ETF (TXS) is a ETF from Texas Capital. Over the past year SPY returned +20.62% while TXS returned +22.94%. Year to date, SPY is up 12.93% versus a gain of 18.88% for TXS.
Over three years, SPY compounded at +22.00% per year against +21.40% for TXS. Across the full 3-year window we track, TXS has the edge at +19.45% annualized vs +8.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.0% for TXS. 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 -19.7% for TXS. 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while TXS charges 0.49%. On a $10,000 position that is $9 vs $49 annually, a gap of $40 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.78% for TXS.
Holdings Overlap
SPY and TXS share 48 holdings out of 686 unique holdings combined, representing a 8.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or TXS?
SPY has an expense ratio of 0.09% while TXS charges 0.49%. SPY is the cheaper option. On a $10,000 investment, that is $40 per year of difference.
Which performed better, SPY or TXS?
Over the past year SPY returned +20.62% vs +22.94% for TXS, so TXS leads on 1-year performance. Over the longest common window we track (3 years), SPY annualized +8.82% vs +19.45% for TXS. Past performance does not guarantee future results.
Which is riskier, SPY or TXS?
SPY has been the more volatile fund at 15.3% annualized versus 14.0% for TXS. Worst drawdown: SPY -56.5% vs TXS -19.7%.
Should I hold both SPY and TXS?
SPY and TXS have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TXS?
SPY and TXS share 48 common holdings with a 8.0% weight overlap. Combined, they hold 686 unique securities.
Which pays a higher dividend, SPY or TXS?
SPY yields 1.01% while TXS yields 0.78%, so SPY currently pays the higher dividend yield.
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