SPY vs TYA
State Street SPDR S&P 500 ETF Trust vs Simplify Intermediate Term Treasury Futures Strategy 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 | TYA | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.25% | |
| AUM | $789.1B | $65M | |
| Dividend Yield | 1.01% | 3.64% | |
| Holdings | 505 | 3 | |
| YTD Return | +13.39% | -8.64% | |
| 1Y Return | +22.52% | -7.09% | |
| 3Y Return (annualized) | +21.36% | -0.41% | |
| 5Y Return (annualized) | +13.19% | - | |
| Volatility (annualized) | 15.3% | 19.3% | |
| Max Drawdown | -56.5% | -51.1% | |
| Fund Family | State Street Investment Management | Simplify Exchange Traded Funds | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Sep 27, 2021 |
SPY vs TYA Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) is a ETF from Simplify Exchange Traded Funds. Over the past year SPY returned +22.52% while TYA returned -7.09%. Year to date, SPY is up 13.39% versus a loss of 8.64% for TYA.
Over three years, SPY compounded at +21.36% per year against -0.41% for TYA. Across the full 5-year window we track, SPY has the edge at +8.84% annualized vs -10.99%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TYA has been the more volatile fund, with annualized monthly volatility of 19.3% 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 -51.1% for TYA. 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 0.49. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while TYA charges 0.25%. On a $10,000 position that is $9 vs $25 annually, a gap of $16 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 3.64% for TYA.
Holdings Overlap
SPY and TYA share 0 holdings out of 504 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 TYA?
SPY has an expense ratio of 0.09% while TYA charges 0.25%. SPY is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, SPY or TYA?
Over the past year SPY returned +22.52% vs -7.09% for TYA, so SPY leads on 1-year performance. Over the longest common window we track (5 years), SPY annualized +8.84% vs -10.99% for TYA. Past performance does not guarantee future results.
Which is riskier, SPY or TYA?
TYA has been the more volatile fund at 19.3% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs TYA -51.1%.
Should I hold both SPY and TYA?
SPY and TYA have a monthly-return correlation of 0.49, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TYA?
SPY and TYA share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, SPY or TYA?
SPY yields 1.01% while TYA yields 3.64%, so TYA currently pays the higher dividend yield.
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