SPY vs VOTE
State Street SPDR S&P 500 ETF Trust vs TCW Transform 500 ETF
Which is better, SPY or VOTE?
Nearly the same fund. VOTE costs less.
VOTE has a lower expense ratio. SPY led over 1Y, 5Y and the full window, VOTE over 3Y. The two have moved almost in lockstep, correlation 1.00. VOTE is less concentrated, with 36.8% of the fund in its ten largest positions against 37.8%.
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 | VOTE |
|---|---|---|
| Expense Ratio | 0.09% | 0.05%Best |
| AUM | $804.7B | $1.1B |
| Dividend Yield | 0.98% | 0.92% |
| Holdings | 505 | 509 |
| YTD Return | +10.96% | +11.20%Best |
| 1Y Return | +15.52%Best | +15.50% |
| 3Y Return (annualized) | +20.73% | +21.00%Best |
| 5Y Return (annualized) | +12.53%Best | +12.21% |
| Volatility (annualized) | 15.6%Best | 15.8% |
| Max Drawdown | -24.5%Best | -25.7% |
| $10,000 over 5 years | $18,044Best | $17,789 |
| Top 10 Weight | 37.8% | 36.8%Best |
| Fund Family | State Street Investment Management | TCW ETFs |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Jun 22, 2021 |
Volatility and max drawdown are measured over the window both funds cover: Jun 23, 2021 to Sep 16, 2026 (5.2 years).
SPY vs VOTE 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 5.2 years both funds cover.
SPY vs VOTE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and TCW Transform 500 ETF (VOTE) is an ETF from TCW ETFs. Over the past year SPY returned +15.52% while VOTE returned +15.50%. Year to date, SPY is up 10.96% versus a gain of 11.20% for VOTE.
Over three years, SPY compounded at +20.73% per year against +21.00% for VOTE; over five years the annualized figures are +12.53% and +12.21% respectively.
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 15.6% 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 -24.5% for SPY and -25.7% for VOTE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 0.98% against 0.92% for VOTE.
Holdings Overlap
97.3% of SPY's money is in holdings VOTE also owns. 96.0% of VOTE's money is in holdings SPY also owns.
Most of SPY is already inside VOTE. Owning both mostly buys the same companies twice.
422 positions in common, counted across the 504 positions we hold weights for in SPY and 501 in VOTE, against full books of 505 and 509.
What only one of them owns
Our book lists 62 positions for VOTE that do not appear in our book for SPY (2.8% of the fund), and 78 for SPY that do not appear in VOTE (2.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SPY | Weight in VOTE | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.01% | 7.82% | 0.19% |
| AAPLApple, Inc | 7.26% | 6.65% | 0.61% |
| MSFTMicrosoft Corp | 5.66% | 5.45% | 0.21% |
| AMZNAmazon.Com Inc | 3.79% | 3.82% | 0.03% |
| GOOGLAlphabet Inc,class A | 2.99% | 3.00% | 0.01% |
| AVGOBroadcom Inc | 2.66% | 2.71% | 0.05% |
| GOOGAlphabet Inc | 2.39% | 2.40% | 0.01% |
| METAMeta Platforms Inc | 1.93% | 1.91% | 0.02% |
| MUMicron Technology, Inc. | 1.60% | 1.62% | 0.02% |
| TSLATesla Inc | 1.52% | 1.43% | 0.09% |
97.3% of SPY is already inside VOTE.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
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, by $4 a year on a $10,000 investment.
Which performed better, SPY or VOTE?
Over the past year SPY returned +15.52% vs +15.50% for VOTE, 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 VOTE?
VOTE has been the more volatile fund at 15.8% annualized versus 15.6% for SPY. Worst drawdown: SPY -24.5% 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. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SPY and VOTE?
97.3% of SPY's money is in holdings VOTE also owns. 96.0% of VOTE's is in holdings SPY also owns. They hold 422 positions in common, counted across the 504 positions we hold weights for in SPY and 501 in VOTE.
Which pays a higher dividend, SPY or VOTE?
SPY yields 0.98% while VOTE yields 0.92%, so SPY currently pays the higher dividend yield.
Is VOTE better than SPY?
VOTE has a lower expense ratio. SPY led over 1Y, 5Y and the full window, VOTE over 3Y. The two have moved almost in lockstep, correlation 1.00. VOTE is less concentrated, with 36.8% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.