SPY vs ZTRE
State Street SPDR S&P 500 ETF Trust vs F/m 3-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 | ZTRE | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.15% | |
| AUM | $821.1B | $42M | |
| Dividend Yield | 1.01% | 4.57% | |
| Holdings | 505 | 490 | |
| YTD Return | +12.68% | +1.10% | |
| 1Y Return | +21.82% | +3.21% | |
| 3Y Return (annualized) | +21.98% | - | |
| 5Y Return (annualized) | +12.89% | - | |
| Volatility (annualized) | 15.3% | 2.0% | |
| Max Drawdown | -56.5% | -1.4% | |
| Fund Family | State Street Investment Management | F-m investments | |
| Category | Equity | Fixed Income | |
| Inception | Jan 22, 1993 | Jan 10, 2024 |
SPY vs ZTRE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and F/m 3-Year Investment Grade Corporate Bond ETF (ZTRE) is a ETF from F-m investments. Over the past year SPY returned +21.82% while ZTRE returned +3.21%. Year to date, SPY is up 12.68% versus a gain of 1.10% for ZTRE.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 2.0% for ZTRE. 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 -1.4% for ZTRE. 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 0.32. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while ZTRE 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 4.57% for ZTRE.
Holdings Overlap
SPY and ZTRE share 0 holdings out of 876 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 ZTRE?
SPY has an expense ratio of 0.09% while ZTRE 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 ZTRE?
Over the past year SPY returned +21.82% vs +3.21% for ZTRE, so SPY leads on 1-year performance. Over the longest common window we track (3 years), SPY annualized +8.81% vs +4.72% for ZTRE. Past performance does not guarantee future results.
Which is riskier, SPY or ZTRE?
SPY has been the more volatile fund at 15.3% annualized versus 2.0% for ZTRE. Worst drawdown: SPY -56.5% vs ZTRE -1.4%.
Should I hold both SPY and ZTRE?
SPY and ZTRE have a monthly-return correlation of 0.32, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and ZTRE?
SPY and ZTRE share 0 common holdings with a 0.0% weight overlap. Combined, they hold 876 unique securities.
Which pays a higher dividend, SPY or ZTRE?
SPY yields 1.01% while ZTRE yields 4.57%, so ZTRE currently pays the higher dividend yield.
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