SPY vs XTWY
State Street SPDR S&P 500 ETF Trust vs BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | XTWY | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.13% | |
| AUM | $821.1B | $246M | |
| Dividend Yield | 1.01% | 4.88% | |
| Holdings | 505 | 56 | |
| YTD Return | +13.17% | -3.11% | |
| 1Y Return | +21.53% | -0.98% | |
| 3Y Return (annualized) | +22.06% | -0.77% | |
| 5Y Return (annualized) | +13.35% | - | |
| Volatility (annualized) | 15.3% | 16.9% | |
| Max Drawdown | -56.5% | -25.9% | |
| Fund Family | State Street Investment Management | BondBloxx | |
| Category | Equity | Fixed Income | |
| Inception | Jan 22, 1993 | Sep 13, 2022 |
SPY vs XTWY Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF (XTWY) is a ETF from BondBloxx. Over the past year SPY returned +21.53% while XTWY returned -0.98%. Year to date, SPY is up 13.17% versus a loss of 3.11% for XTWY.
Over three years, SPY compounded at +22.06% per year against -0.77% for XTWY. Across the full 4-year window we track, SPY has the edge at +8.82% annualized vs -4.20%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XTWY has been the more volatile fund, with annualized monthly volatility of 16.9% 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 -25.9% for XTWY. 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 0.49. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while XTWY charges 0.13%. On a $10,000 position that is $9 vs $13 annually, a gap of $4 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 4.88% for XTWY.
Holdings Overlap
SPY and XTWY share 0 holdings out of 557 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 XTWY?
SPY has an expense ratio of 0.09% while XTWY charges 0.13%. SPY is the cheaper option. On a $10,000 investment, that is $4 per year of difference.
Which performed better, SPY or XTWY?
Over the past year SPY returned +21.53% vs -0.98% for XTWY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), SPY annualized +8.82% vs -4.20% for XTWY. Past performance does not guarantee future results.
Which is riskier, SPY or XTWY?
XTWY has been the more volatile fund at 16.9% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs XTWY -25.9%.
Should I hold both SPY and XTWY?
SPY and XTWY have a monthly-return correlation of 0.49, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and XTWY?
SPY and XTWY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 557 unique securities.
Which pays a higher dividend, SPY or XTWY?
SPY yields 1.01% while XTWY yields 4.88%, so XTWY currently pays the higher dividend yield.
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