SPY vs XTAP
State Street SPDR S&P 500 ETF Trust vs Innovator US Equity Accelerated Plus ETF - April
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 | XTAP | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.79% | |
| AUM | $789.1B | $23M | |
| Dividend Yield | 1.01% | 0.00% | |
| Holdings | 505 | 7 | |
| YTD Return | +13.75% | +13.68% | |
| 1Y Return | +22.91% | +19.05% | |
| 3Y Return (annualized) | +21.67% | +17.57% | |
| 5Y Return (annualized) | +13.32% | +10.88% | |
| Volatility (annualized) | 15.3% | 12.8% | |
| Max Drawdown | -56.5% | -22.1% | |
| Fund Family | State Street Investment Management | Innovator ETFs Trust | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Mar 31, 2021 |
SPY vs XTAP Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Innovator US Equity Accelerated Plus ETF - April (XTAP) is a ETF from Innovator ETFs Trust. Over the past year SPY returned +22.91% while XTAP returned +19.05%. Year to date, SPY is up 13.75% versus a gain of 13.68% for XTAP.
Over three years, SPY compounded at +21.67% per year against +17.57% for XTAP; over five years the annualized figures are +13.32% and +10.88% respectively. Across the full 5-year window we track, XTAP has the edge at +11.60% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.8% for XTAP. 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 -22.1% for XTAP. 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 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while XTAP charges 0.79%. On a $10,000 position that is $9 vs $79 annually, a gap of $70 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.00% for XTAP.
Holdings Overlap
SPY and XTAP share 0 holdings out of 504 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or XTAP?
SPY has an expense ratio of 0.09% while XTAP charges 0.79%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, SPY or XTAP?
Over the past year SPY returned +22.91% vs +19.05% for XTAP, so SPY leads on 1-year performance. Over the longest common window we track (5 years), SPY annualized +8.85% vs +11.60% for XTAP. Past performance does not guarantee future results.
Which is riskier, SPY or XTAP?
SPY has been the more volatile fund at 15.3% annualized versus 12.8% for XTAP. Worst drawdown: SPY -56.5% vs XTAP -22.1%.
Should I hold both SPY and XTAP?
SPY and XTAP have a monthly-return correlation of 0.89, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and XTAP?
SPY and XTAP share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, SPY or XTAP?
SPY yields 1.01% while XTAP yields 0.00%, so SPY currently pays the higher dividend yield.
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