SPY vs UTRE
State Street SPDR S&P 500 ETF Trust vs F/m US Treasury 3 Year Note ETF
Which is better, SPY or UTRE?
Large Cap Blend against Long Term High Yield Bond.
SPY has a lower expense ratio. SPY led over 1Y, 3Y 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 | UTRE |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.15% |
| AUM | $804.7B | $11M |
| Dividend Yield | 0.98% | 3.86% |
| Holdings | 505 | 2 |
| YTD Return | +12.09%Best | -0.78% |
| 1Y Return | +16.29%Best | +0.22% |
| 3Y Return (annualized) | +21.20%Best | +4.04% |
| 5Y Return (annualized) | +13.37% | - |
| Volatility (annualized) | 12.5% | 2.5%Best |
| Max Drawdown | -18.8% | -2.8%Best |
| $10,000 over 3.5 years | $20,155Best | $11,147 |
| Fund Family | State Street Investment Management | US Benchmark Series |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | Long Term High Yield Bond |
| Inception | Jan 22, 1993 | Mar 28, 2023 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.5 years row, are measured over the window both funds cover: Mar 28, 2023 to Sep 18, 2026 (3.5 years).
SPY vs UTRE 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 3.5 years both funds cover.
SPY vs UTRE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and F/m US Treasury 3 Year Note ETF (UTRE) is an ETF from US Benchmark Series. Over the past year SPY returned +16.29% while UTRE returned +0.22%. Year to date, SPY is up 12.09% versus a loss of 0.78% for UTRE.
Over three years, SPY compounded at +21.20% per year against +4.04% for UTRE. Across the full 4-year window we track, SPY has the edge at +22.17% annualized vs +3.15%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.5% compared with 2.5% for UTRE. 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 -2.8% for UTRE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.22. They move largely independently of each other.
Fees and Cost Over Time
SPY charges 0.09% per year while UTRE charges 0.15%. On a $10,000 position that is $9 vs $15 annually, a gap of $6 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 3.86% for UTRE.
You are not choosing between two funds in isolation.
Whichever of SPY and UTRE 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 UTRE?
SPY has an expense ratio of 0.09% while UTRE charges 0.15%. SPY is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, SPY or UTRE?
Over the past year SPY returned +16.29% vs +0.22% for UTRE, so SPY leads on 1-year performance. Over the longest common window we track (4 years), SPY annualized +22.17% vs +3.15% for UTRE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or UTRE?
SPY has been the more volatile fund at 12.5% annualized versus 2.5% for UTRE. Worst drawdown: SPY -18.8% vs UTRE -2.8%.
Should I hold both SPY and UTRE?
SPY and UTRE have a monthly-return correlation of 0.22, 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 UTRE?
SPY yields 0.98% while UTRE yields 3.86%, so UTRE currently pays the higher dividend yield.
Is UTRE better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.