SPY vs UTWO
State Street SPDR S&P 500 ETF Trust vs F/m US Treasury 2 Year Note ETF
Which is better, SPY or UTWO?
Large Cap Blend against Short Term High Quality.
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 | UTWO |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.15% |
| AUM | $804.7B | $491M |
| Dividend Yield | 0.98% | 3.89% |
| Holdings | 505 | 4 |
| YTD Return | +12.22%Best | +0.37% |
| 1Y Return | +16.97%Best | +1.47% |
| 3Y Return (annualized) | +21.16%Best | +3.82% |
| 5Y Return (annualized) | +13.00% | - |
| Volatility (annualized) | 14.2% | 1.9%Best |
| Max Drawdown | -18.8% | -2.0%Best |
| $10,000 over 4.1 years | $19,534Best | $11,194 |
| Fund Family | State Street Investment Management | US Benchmark Series |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | Short Term High Quality |
| Inception | Jan 22, 1993 | Aug 8, 2022 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.1 years row, are measured over the window both funds cover: Aug 9, 2022 to Sep 17, 2026 (4.1 years).
SPY vs UTWO 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 4.1 years both funds cover.
SPY vs UTWO Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and F/m US Treasury 2 Year Note ETF (UTWO) is an ETF from US Benchmark Series. Over the past year SPY returned +16.97% while UTWO returned +1.47%. Year to date, SPY is up 12.22% versus a gain of 0.37% for UTWO.
Over three years, SPY compounded at +21.16% per year against +3.82% for UTWO. Across the full 4-year window we track, SPY has the edge at +17.74% annualized vs +2.79%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.2% compared with 1.9% for UTWO. 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 -2.0% for UTWO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.30. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while UTWO 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 3.89% for UTWO.
You are not choosing between two funds in isolation.
Whichever of SPY and UTWO 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 UTWO?
SPY has an expense ratio of 0.09% while UTWO charges 0.15%. SPY is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, SPY or UTWO?
Over the past year SPY returned +16.97% vs +1.47% for UTWO, so SPY leads on 1-year performance. Over the longest common window we track (4 years), SPY annualized +17.74% vs +2.79% for UTWO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or UTWO?
SPY has been the more volatile fund at 14.2% annualized versus 1.9% for UTWO. Worst drawdown: SPY -18.8% vs UTWO -2.0%.
Should I hold both SPY and UTWO?
SPY and UTWO have a monthly-return correlation of 0.30, 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 UTWO?
SPY yields 0.98% while UTWO yields 3.89%, so UTWO currently pays the higher dividend yield.
Is UTWO 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.