SPY vs ZTWO
State Street SPDR S&P 500 ETF Trust vs F/m 2-Year Investment Grade Corporate Bond ETF
Which is better, SPY or ZTWO?
Large Cap Blend against Short Term Mid Quality.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SPY | ZTWO |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.15% |
| AUM | $804.7B | $18M |
| Dividend Yield | 0.98% | 4.45% |
| Holdings | 505 | 446 |
| YTD Return | +12.09%Best | +1.09% |
| 1Y Return | +16.29%Best | +2.29% |
| 3Y Return (annualized) | +21.20% | - |
| 5Y Return (annualized) | +13.37% | - |
| Volatility (annualized) | 12.0% | 1.5%Best |
| Max Drawdown | -18.8% | -0.9%Best |
| $10,000 over 2.7 years | $16,515Best | $11,204 |
| Fund Family | State Street Investment Management | F-m investments |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | Short Term Mid Quality |
| Inception | Jan 22, 1993 | Jan 10, 2024 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.7 years row, are measured over the window both funds cover: Jan 11, 2024 to Sep 18, 2026 (2.7 years).
SPY vs ZTWO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.7 years both funds cover.
SPY vs ZTWO Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and F/m 2-Year Investment Grade Corporate Bond ETF (ZTWO) is an ETF from F-m investments. Over the past year SPY returned +16.29% while ZTWO returned +2.29%. Year to date, SPY is up 12.09% versus a gain of 1.09% for ZTWO.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.0% compared with 1.5% for ZTWO. 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 -18.8% for SPY and -0.9% for ZTWO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.32. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while ZTWO 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 0.98% against 4.45% for ZTWO.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 356 in ZTWO, totalling 99.9% and 79.3% of the two funds. That is not enough of ZTWO to divide by, so no overlap percentage is shown here. Within what we can see, 1 positions appear in both.
1 positions in common, counted across the 504 positions we hold weights for in SPY and 356 in ZTWO, against full books of 505 and 446.
Top Shared Holdings
| Stock | Weight in SPY | Weight in ZTWO | Difference |
|---|---|---|---|
| HUBBHubbell Inc | 0.04% | 0.22% | 0.18% |
You are not choosing between two funds in isolation.
Whichever of SPY and ZTWO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or ZTWO?
SPY has an expense ratio of 0.09% while ZTWO charges 0.15%. SPY is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, SPY or ZTWO?
Over the past year SPY returned +16.29% vs +2.29% for ZTWO, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or ZTWO?
SPY has been the more volatile fund at 12.0% annualized versus 1.5% for ZTWO. Worst drawdown: SPY -18.8% vs ZTWO -0.9%.
Should I hold both SPY and ZTWO?
SPY and ZTWO have a monthly-return correlation of 0.32, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPY or ZTWO?
SPY yields 0.98% while ZTWO yields 4.45%, so ZTWO currently pays the higher dividend yield.
Is ZTWO better than SPY?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.