SPY vs XTN
State Street SPDR S&P 500 ETF Trust vs State Street SPDR S&P Transportation ETF
Which is better, SPY or XTN?
Large Cap Blend against Mid Cap Blend.
SPY has a lower expense ratio. SPY led over 3Y, 5Y and the full window, XTN over 1Y. XTN is less concentrated, with 30.2% 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 | XTN |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.35% |
| AUM | $804.7B | $348M |
| Dividend Yield | 0.98% | 0.70% |
| Holdings | 505 | 44 |
| YTD Return | +13.82%Best | +9.31% |
| 1Y Return | +16.96% | +19.56%Best |
| 3Y Return (annualized) | +22.97%Best | +11.41% |
| 5Y Return (annualized) | +13.73%Best | +4.32% |
| Volatility (annualized) | 14.2%Best | 23.1% |
| Max Drawdown | -34.1%Best | -44.9% |
| $10,000 over 5 years | $19,027Best | $12,355 |
| Top 10 Weight | 37.8% | 30.2%Best |
| Fund Family | State Street Investment Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Mid Cap Blend |
| Inception | Jan 22, 1993 | Jan 26, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Jan 27, 2011 to Sep 21, 2026 (15.6 years).
SPY vs XTN 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 15.6 years both funds cover.
SPY vs XTN Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and State Street SPDR S&P Transportation ETF (XTN) is an ETF from State Street Investment Management. Over the past year SPY returned +16.96% while XTN returned +19.56%. Year to date, SPY is up 13.82% versus a gain of 9.31% for XTN.
Over three years, SPY compounded at +22.97% per year against +11.41% for XTN; over five years the annualized figures are +13.73% and +4.32% respectively. Across the full 16-year window we track, SPY has the edge at +12.60% annualized vs +9.46%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XTN has been the more volatile fund, with annualized monthly volatility of 23.1% compared with 14.2% 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 -34.1% for SPY and -44.9% for XTN. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while XTN charges 0.35%. On a $10,000 position that is $9 vs $35 annually, a gap of $26 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.70% for XTN.
Holdings Overlap
1.3% of SPY's money is in holdings XTN also owns. 37.6% of XTN's money is in holdings SPY also owns.
The two portfolios partly overlap.
14 positions in common, counted across the 504 positions we hold weights for in SPY and 44 in XTN, against full books of 505 and 44.
What only one of them owns
Measured across the 504 and 44 positions we hold weights for.
SPY holds 483 positions XTN does not, 98.0% of the fund.
Largest: NVDA 8.01%, AAPL 7.26%, MSFT 5.66%, AMZN 3.79%, GOOGL 2.99%
Top Shared Holdings
| Stock | Weight in SPY | Weight in XTN | Difference |
|---|---|---|---|
| UNPUnion Pacific Corp | 0.26% | 3.02% | 2.76% |
| UBERUber Technologies Inc | 0.23% | 2.96% | 2.73% |
| EXPDExpeditors International Of Washington Inc | 0.04% | 3.10% | 3.06% |
| NSCNorfolk Southern Corp | 0.11% | 2.98% | 2.87% |
| CSXCsx Corp. | 0.14% | 2.93% | 2.79% |
| UALUnited Airlines Holdings Inc. | 0.05% | 2.83% | 2.78% |
| FDXFedex Corp | 0.11% | 2.76% | 2.65% |
| UPSUnited Parcel Service, Inc | 0.12% | 2.71% | 2.59% |
| DALDl Co., Ltd. | 0.08% | 2.74% | 2.66% |
| JBHTJb Hunt Transport Services Inc. | 0.03% | 2.54% | 2.51% |
37.6% of XTN is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, SPY or XTN?
SPY has an expense ratio of 0.09% while XTN charges 0.35%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, SPY or XTN?
Over the past year SPY returned +16.96% vs +19.56% for XTN, so XTN leads on 1-year performance. Over the longest common window we track (16 years), SPY annualized +12.60% vs +9.46% for XTN. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or XTN?
XTN has been the more volatile fund at 23.1% annualized versus 14.2% for SPY. Worst drawdown: SPY -34.1% vs XTN -44.9%.
Should I hold both SPY and XTN?
SPY and XTN have a monthly-return correlation of 0.82, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPY and XTN?
37.6% of XTN's money is in holdings SPY also owns. 37.6% of XTN's is in holdings SPY also owns. They hold 14 positions in common, counted across the 504 positions we hold weights for in SPY and 44 in XTN.
Which pays a higher dividend, SPY or XTN?
SPY yields 0.98% while XTN yields 0.70%, so SPY currently pays the higher dividend yield.
Is XTN better than SPY?
SPY has a lower expense ratio. SPY led over 3Y, 5Y and the full window, XTN over 1Y. XTN is less concentrated, with 30.2% 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.