SPY vs ZTOP
State Street SPDR S&P 500 ETF Trust vs F/m High Yield 100 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 | ZTOP | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.39% | |
| AUM | $821.1B | $16M | |
| Dividend Yield | 1.01% | 6.30% | |
| Holdings | 505 | 102 | |
| YTD Return | +12.68% | +1.79% | |
| 1Y Return | +21.82% | +4.78% | |
| 3Y Return (annualized) | +21.98% | - | |
| 5Y Return (annualized) | +12.89% | - | |
| Volatility (annualized) | 15.3% | 2.8% | |
| Max Drawdown | -56.5% | -2.5% | |
| Fund Family | State Street Investment Management | F-m investments | |
| Category | Equity | Fixed Income | |
| Inception | Jan 22, 1993 | Apr 14, 2025 |
SPY vs ZTOP Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and F/m High Yield 100 ETF (ZTOP) is a ETF from F-m investments. Over the past year SPY returned +21.82% while ZTOP returned +4.78%. Year to date, SPY is up 12.68% versus a gain of 1.79% for ZTOP.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 2.8% for ZTOP. 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 -2.5% for ZTOP. 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while ZTOP charges 0.39%. On a $10,000 position that is $9 vs $39 annually, a gap of $30 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 6.30% for ZTOP.
Holdings Overlap
SPY and ZTOP share 0 holdings out of 581 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 ZTOP?
SPY has an expense ratio of 0.09% while ZTOP charges 0.39%. SPY is the cheaper option. On a $10,000 investment, that is $30 per year of difference.
Which performed better, SPY or ZTOP?
Over the past year SPY returned +21.82% vs +4.78% for ZTOP, so SPY leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +8.81% vs +7.81% for ZTOP. Past performance does not guarantee future results.
Which is riskier, SPY or ZTOP?
SPY has been the more volatile fund at 15.3% annualized versus 2.8% for ZTOP. Worst drawdown: SPY -56.5% vs ZTOP -2.5%.
Should I hold both SPY and ZTOP?
SPY and ZTOP have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and ZTOP?
SPY and ZTOP share 0 common holdings with a 0.0% weight overlap. Combined, they hold 581 unique securities.
Which pays a higher dividend, SPY or ZTOP?
SPY yields 1.01% while ZTOP yields 6.30%, so ZTOP currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.