SPY vs ZTEN
State Street SPDR S&P 500 ETF Trust vs F/m 10-Year Investment Grade Corporate Bond 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 | ZTEN | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.15% | |
| AUM | $821.1B | $30M | |
| Dividend Yield | 1.01% | 5.58% | |
| Holdings | 505 | 264 | |
| YTD Return | +12.68% | -0.71% | |
| 1Y Return | +21.82% | +2.69% | |
| 3Y Return (annualized) | +21.98% | - | |
| 5Y Return (annualized) | +12.89% | - | |
| Volatility (annualized) | 15.3% | 5.3% | |
| Max Drawdown | -56.5% | -5.4% | |
| Fund Family | State Street Investment Management | F-m investments | |
| Category | Equity | Fixed Income | |
| Inception | Jan 22, 1993 | Jan 10, 2024 |
SPY vs ZTEN Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and F/m 10-Year Investment Grade Corporate Bond ETF (ZTEN) is a ETF from F-m investments. Over the past year SPY returned +21.82% while ZTEN returned +2.69%. Year to date, SPY is up 12.68% versus a loss of 0.71% for ZTEN.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 5.3% for ZTEN. 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 -5.4% for ZTEN. 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 0.44. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while ZTEN charges 0.15%. On a $10,000 position that is $9 vs $15 annually, a gap of $6 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 5.58% for ZTEN.
Holdings Overlap
SPY and ZTEN share 0 holdings out of 549 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 ZTEN?
SPY has an expense ratio of 0.09% while ZTEN charges 0.15%. SPY is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, SPY or ZTEN?
Over the past year SPY returned +21.82% vs +2.69% for ZTEN, so SPY leads on 1-year performance. Over the longest common window we track (3 years), SPY annualized +8.81% vs +4.42% for ZTEN. Past performance does not guarantee future results.
Which is riskier, SPY or ZTEN?
SPY has been the more volatile fund at 15.3% annualized versus 5.3% for ZTEN. Worst drawdown: SPY -56.5% vs ZTEN -5.4%.
Should I hold both SPY and ZTEN?
SPY and ZTEN have a monthly-return correlation of 0.44, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and ZTEN?
SPY and ZTEN share 0 common holdings with a 0.0% weight overlap. Combined, they hold 549 unique securities.
Which pays a higher dividend, SPY or ZTEN?
SPY yields 1.01% while ZTEN yields 5.58%, so ZTEN currently pays the higher dividend yield.
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