SPY vs VOTE
State Street SPDR S&P 500 ETF Trust vs TCW Transform 500 ETF
Quick Verdict
VOTE has a lower expense ratio. VOTE delivered stronger 1-year returns. VOTE offers more diversification with 507 holdings.
Side-by-Side Comparison
| Metric | SPY | VOTE | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.05% | |
| AUM | $821.1B | $1.1B | |
| Dividend Yield | 1.01% | 0.95% | |
| Holdings | 505 | 507 | |
| YTD Return | +12.73% | +13.00% | |
| 1Y Return | +20.06% | +20.18% | |
| 3Y Return (annualized) | +21.59% | +21.91% | |
| 5Y Return (annualized) | +12.93% | +12.59% | |
| Volatility (annualized) | 15.3% | 15.8% | |
| Max Drawdown | -56.5% | -25.7% | |
| Fund Family | State Street Investment Management | TCW ETFs | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jun 22, 2021 |
SPY vs VOTE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and TCW Transform 500 ETF (VOTE) is a ETF from TCW ETFs. Over the past year SPY returned +20.06% while VOTE returned +20.18%. Year to date, SPY is up 12.73% versus a gain of 13.00% for VOTE.
Over three years, SPY compounded at +21.59% per year against +21.91% for VOTE; over five years the annualized figures are +12.93% and +12.59% respectively. Across the full 5-year window we track, VOTE has the edge at +13.35% annualized vs +8.80%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOTE has been the more volatile fund, with annualized monthly volatility of 15.8% 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 -25.7% for VOTE. 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 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPY charges 0.09% per year while VOTE charges 0.05%. On a $10,000 position that is $9 vs $5 annually, a gap of $4 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.95% for VOTE.
Holdings Overlap
SPY and VOTE share 418 holdings out of 588 unique holdings combined, representing a 93.3% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, SPY or VOTE?
SPY has an expense ratio of 0.09% while VOTE charges 0.05%. VOTE is the cheaper option. On a $10,000 investment, that is $4 per year of difference.
Which performed better, SPY or VOTE?
Over the past year SPY returned +20.06% vs +20.18% for VOTE, so VOTE leads on 1-year performance. Over the longest common window we track (5 years), SPY annualized +8.80% vs +13.35% for VOTE. Past performance does not guarantee future results.
Which is riskier, SPY or VOTE?
VOTE has been the more volatile fund at 15.8% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs VOTE -25.7%.
Should I hold both SPY and VOTE?
SPY and VOTE have a monthly-return correlation of 1.00, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SPY and VOTE?
SPY and VOTE share 418 common holdings with a 93.3% weight overlap. Combined, they hold 588 unique securities.
Which pays a higher dividend, SPY or VOTE?
SPY yields 1.01% while VOTE yields 0.95%, so SPY currently pays the higher dividend yield.
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