SPY vs XTN
State Street SPDR S&P 500 ETF Trust vs State Street SPDR S&P Transportation ETF
Quick Verdict
SPY has a lower expense ratio. XTN delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | XTN | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.35% | |
| AUM | $814.4B | $362M | |
| Dividend Yield | 1.01% | 0.67% | |
| Holdings | 505 | 44 | |
| YTD Return | +12.87% | +14.34% | |
| 1Y Return | +21.13% | +24.42% | |
| 3Y Return (annualized) | +20.86% | +10.15% | |
| 5Y Return (annualized) | +12.69% | +5.04% | |
| Volatility (annualized) | 15.3% | 23.1% | |
| Max Drawdown | -56.5% | -44.9% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jan 26, 2011 |
SPY vs XTN Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and State Street SPDR S&P Transportation ETF (XTN) is a ETF from State Street Investment Management. Over the past year SPY returned +21.13% while XTN returned +24.42%. Year to date, SPY is up 12.87% versus a gain of 14.34% for XTN.
Over three years, SPY compounded at +20.86% per year against +10.15% for XTN; over five years the annualized figures are +12.69% and +5.04% respectively. Across the full 16-year window we track, XTN has the edge at +9.81% annualized vs +8.80%. 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 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 -44.9% for XTN. 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 0.82. 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 1.01% against 0.67% for XTN.
Holdings Overlap
SPY and XTN share 14 holdings out of 534 unique holdings combined, representing a 1.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $26 per year of difference.
Which performed better, SPY or XTN?
Over the past year SPY returned +21.13% vs +24.42% for XTN, so XTN leads on 1-year performance. Over the longest common window we track (16 years), SPY annualized +8.80% vs +9.81% for XTN. Past performance does not guarantee future results.
Which is riskier, SPY or XTN?
XTN has been the more volatile fund at 23.1% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs XTN -44.9%.
Should I hold both SPY and XTN?
SPY and XTN have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and XTN?
SPY and XTN share 14 common holdings with a 1.3% weight overlap. Combined, they hold 534 unique securities.
Which pays a higher dividend, SPY or XTN?
SPY yields 1.01% while XTN yields 0.67%, so SPY currently pays the higher dividend yield.
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