SPY vs TYLD
State Street SPDR S&P 500 ETF Trust vs Cambria Tactical Yield ETF
Which is better, SPY or TYLD?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SPY | TYLD |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.59% |
| AUM | $804.7B | $56M |
| Dividend Yield | 0.98% | 3.71% |
| Holdings | 505 | 5 |
| YTD Return | +12.47%Best | +1.31% |
| 1Y Return | +17.51%Best | +2.63% |
| 3Y Return (annualized) | +21.18% | - |
| 5Y Return (annualized) | +12.88% | - |
| Volatility (annualized) | 12.0% | 0.8%Best |
| Max Drawdown | -18.8% | -8.2%Best |
| $10,000 over 2.7 years | $16,896Best | $10,171 |
| Fund Family | State Street Investment Management | Cambria Investment Management |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | - |
| Inception | Jan 22, 1993 | Jan 4, 2024 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.7 years row, are measured over the window both funds cover: Jan 4, 2024 to Sep 11, 2026 (2.7 years).
SPY vs TYLD growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.7 years both funds cover.
SPY vs TYLD Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Cambria Tactical Yield ETF (TYLD) is an ETF from Cambria Investment Management. Over the past year SPY returned +17.51% while TYLD returned +2.63%. Year to date, SPY is up 12.47% versus a gain of 1.31% for TYLD.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.0% compared with 0.8% for TYLD. 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 -18.8% for SPY and -8.2% for TYLD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.39. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while TYLD 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 0.98% against 3.71% for TYLD.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 1 in TYLD, totalling 100.0% and 1.6% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 504 positions we hold weights for in SPY and 1 in TYLD, against full books of 505 and 5.
You are not choosing between two funds in isolation.
Whichever of SPY and TYLD you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or TYLD?
SPY has an expense ratio of 0.09% while TYLD charges 0.59%. SPY is the cheaper option, by $50 a year on a $10,000 investment.
Which performed better, SPY or TYLD?
Over the past year SPY returned +17.51% vs +2.63% for TYLD, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TYLD?
SPY has been the more volatile fund at 12.0% annualized versus 0.8% for TYLD. Worst drawdown: SPY -18.8% vs TYLD -8.2%.
Should I hold both SPY and TYLD?
SPY and TYLD have a monthly-return correlation of 0.39, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPY or TYLD?
SPY yields 0.98% while TYLD yields 3.71%, so TYLD currently pays the higher dividend yield.
Is TYLD better than SPY?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.