SPY vs UTF
SPY vs UTF
State Street SPDR S&P 500 ETF Trust vs Cohen & Steers Infrastructure Fund Inc
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 | UTF | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 3.42% | |
| AUM | $789.1B | $3,053.86 | |
| Dividend Yield | 1.01% | 6.75% | |
| Holdings | 505 | 297 | |
| YTD Return | +13.79% | +16.12% | |
| 1Y Return | +23.66% | +8.19% | |
| 3Y Return (annualized) | +21.40% | +14.35% | |
| 5Y Return (annualized) | +13.37% | +6.56% | |
| Volatility (annualized) | 15.3% | 20.2% | |
| Max Drawdown | -56.5% | -76.7% | |
| Fund Family | State Street Investment Management | Cohen & Steers Funds | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Mar 30, 2004 |
SPY vs UTF Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Cohen & Steers Infrastructure Fund Inc (UTF) is a ETF from Cohen & Steers Funds. Over the past year SPY returned +23.66% while UTF returned +8.19%. Year to date, SPY is up 13.79% versus a gain of 16.12% for UTF.
Over three years, SPY compounded at +21.40% per year against +14.35% for UTF; over five years the annualized figures are +13.37% and +6.56% respectively. Across the full 22-year window we track, SPY has the edge at +8.85% annualized vs +3.26%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UTF has been the more volatile fund, with annualized monthly volatility of 20.2% 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 -76.7% for UTF. 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 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while UTF charges 3.42%. On a $10,000 position that is $9 vs $342 annually, a gap of $333 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 6.75% for UTF.
Holdings Overlap
SPY and UTF share 22 holdings out of 723 unique holdings combined, representing a 2.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPY | Weight in UTF | Difference |
|---|---|---|---|
| NEE | 0.28% | 7.03% | 6.75% |
| NI | 0.03% | 4.23% | 4.20% |
| CSX | 0.14% | 3.29% | 3.15% |
| DUK | Pro | Pro | Pro |
| AMT | Pro | Pro | Pro |
| PPL | Pro | Pro | Pro |
| LNT | Pro | Pro | Pro |
| CCI | Pro | Pro | Pro |
| UNP | Pro | Pro | Pro |
| SO | Pro | Pro | Pro |
See all 10 holdings SPY shares with UTF Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, SPY or UTF?
SPY has an expense ratio of 0.09% while UTF charges 3.42%. SPY is the cheaper option. On a $10,000 investment, that is $333 per year of difference.
Which performed better, SPY or UTF?
Over the past year SPY returned +23.66% vs +8.19% for UTF, so SPY leads on 1-year performance. Over the longest common window we track (22 years), SPY annualized +8.85% vs +3.26% for UTF. Past performance does not guarantee future results.
Which is riskier, SPY or UTF?
UTF has been the more volatile fund at 20.2% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs UTF -76.7%.
Should I hold both SPY and UTF?
SPY and UTF have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and UTF?
SPY and UTF share 22 common holdings with a 2.1% weight overlap. Combined, they hold 723 unique securities.
Which pays a higher dividend, SPY or UTF?
SPY yields 1.01% while UTF yields 6.75%, so UTF currently pays the higher dividend yield.
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