SPY vs TXSS
State Street SPDR S&P 500 ETF Trust vs Texas Capital Texas Small Cap Equity Index 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 | TXSS | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.49% | |
| AUM | $789.1B | $10M | |
| Dividend Yield | 1.01% | 0.48% | |
| Holdings | 505 | 182 | |
| YTD Return | +13.75% | -1.97% | |
| 1Y Return | +22.91% | -6.59% | |
| 3Y Return (annualized) | +21.67% | - | |
| 5Y Return (annualized) | +13.32% | - | |
| Volatility (annualized) | 15.3% | 18.5% | |
| Max Drawdown | -56.5% | -25.6% | |
| Fund Family | State Street Investment Management | Texas Capital | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Dec 20, 2023 |
SPY vs TXSS Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Texas Capital Texas Small Cap Equity Index ETF (TXSS) is a ETF from Texas Capital. Over the past year SPY returned +22.91% while TXSS returned -6.59%. Year to date, SPY is up 13.75% versus a loss of 1.97% for TXSS.
Risk: Volatility and Drawdowns
TXSS has been the more volatile fund, with annualized monthly volatility of 18.5% 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 -25.6% for TXSS. 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 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while TXSS 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 0.48% for TXSS.
Holdings Overlap
SPY and TXSS share 0 holdings out of 685 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 TXSS?
SPY has an expense ratio of 0.09% while TXSS 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 TXSS?
Over the past year SPY returned +22.91% vs -6.59% for TXSS, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +8.85% vs +4.17% for TXSS. Past performance does not guarantee future results.
Which is riskier, SPY or TXSS?
TXSS has been the more volatile fund at 18.5% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs TXSS -25.6%.
Should I hold both SPY and TXSS?
SPY and TXSS have a monthly-return correlation of 0.71, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TXSS?
SPY and TXSS share 0 common holdings with a 0.0% weight overlap. Combined, they hold 685 unique securities.
Which pays a higher dividend, SPY or TXSS?
SPY yields 1.01% while TXSS yields 0.48%, so SPY currently pays the higher dividend yield.
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