SFTY vs SPY
Horizon Managed Risk ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SFTY or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.99. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 41.9%.
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 | SFTY | SPY |
|---|---|---|
| Expense Ratio | 0.77% | 0.09%Best |
| AUM | $818M | $823.2B |
| Dividend Yield | 0.17% | 0.99% |
| Holdings | 336 | 1,515 |
| YTD Return | +13.47% | +13.53%Best |
| 1Y Return | +16.90% | +17.47%Best |
| 3Y Return (annualized) | - | +22.36% |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 10.5%Best | 11.5% |
| Max Drawdown | -8.6%Best | -8.9% |
| $10,000 over 1.3 years | $12,688 | $12,747Best |
| Top 10 Weight | 41.9% | 38.2%Best |
| Fund Family | Horizon Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 25, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.3 years row, are measured over the window both funds cover: Jun 26, 2025 to Oct 14, 2026 (1.3 years).
SFTY vs SPY 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 1.3 years both funds cover.
SFTY vs SPY Performance
Horizon Managed Risk ETF (SFTY) is an ETF from Horizon Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SFTY returned +16.90% while SPY returned +17.47%. Year to date, SFTY is up 13.47% versus a gain of 13.53% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 11.5% compared with 10.5% for SFTY. 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 -8.6% for SFTY and -8.9% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SFTY charges 0.77% per year while SPY charges 0.09%. On a $10,000 position that is $77 vs $9 annually, a gap of $68 per year that compounds over a long holding period. On income, SFTY currently yields 0.17% against 0.99% for SPY.
Holdings Overlap
91.4% of SFTY's money is in holdings SPY also owns. 77.7% of SPY's money is in holdings SFTY also owns.
Most of SFTY is already inside SPY. Owning both mostly buys the same companies twice.
159 positions in common, counted across the 167 positions we hold weights for in SFTY and 504 in SPY, against full books of 336 and 1,515.
What only one of them owns
Our book lists 337 positions for SPY that do not appear in our book for SFTY (21.4% of the fund), and 8 for SFTY that do not appear in SPY (8.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SFTY | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 6.70% | 7.78% | 1.08% |
| AAPLApple, Inc | 6.65% | 7.45% | 0.80% |
| MSFTMicrosoft Corp | 5.22% | 5.71% | 0.49% |
| GOOGLAlphabet Inc | 5.21% | 3.12% | 2.09% |
| AMZNAmazon.Com Inc | 1.87% | 3.78% | 1.91% |
| AVGOBroadcom Inc | 2.75% | 2.48% | 0.27% |
| METAMeta Platforms Inc | 1.84% | 2.22% | 0.38% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 2.59% | 1.44% | 1.15% |
| MUMicron Technology, Inc. | 2.43% | 1.59% | 0.84% |
| LLYEli Lilly & Co. | 1.94% | 1.37% | 0.57% |
91.4% of SFTY is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SFTY or SPY?
SFTY has an expense ratio of 0.77% while SPY charges 0.09%. SPY is the cheaper option, by $68 a year on a $10,000 investment.
Which performed better, SFTY or SPY?
Over the past year SFTY returned +16.90% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), SFTY annualized +20.10% vs +20.53% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SFTY or SPY?
SPY has been the more volatile fund at 11.5% annualized versus 10.5% for SFTY. Worst drawdown: SFTY -8.6% vs SPY -8.9%.
Should I hold both SFTY and SPY?
SFTY and SPY have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SFTY and SPY?
91.4% of SFTY's money is in holdings SPY also owns. 77.7% of SPY's is in holdings SFTY also owns. They hold 159 positions in common, counted across the 167 positions we hold weights for in SFTY and 504 in SPY.
Which pays a higher dividend, SFTY or SPY?
SFTY yields 0.17% while SPY yields 0.99%, so SPY currently pays the higher dividend yield.
Is SPY better than SFTY?
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.99. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 41.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.