SPY vs TBG
State Street SPDR S&P 500 ETF Trust vs TBG Dividend Focus ETF
Which is better, SPY or TBG?
Large Cap Blend against All Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 39.3%.
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 | TBG |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.45% |
| AUM | $823.2B | $284M |
| Dividend Yield | 0.99% | 2.82% |
| Holdings | 1,515 | 78 |
| YTD Return | +13.53%Best | +12.11% |
| 1Y Return | +17.47%Best | +15.30% |
| 3Y Return (annualized) | +22.36%Best | +17.15% |
| 5Y Return (annualized) | +13.21% | - |
| Volatility (annualized) | 11.6%Best | 12.3% |
| Max Drawdown | -18.8% | -14.8%Best |
| $10,000 over 2.9 years | $18,133Best | $15,825 |
| Top 10 Weight | 38.2%Best | 39.3% |
| Fund Family | State Street Investment Management | EA Series Trust |
| Category | Equity | Equity |
| Style | Large Cap Blend | All Cap Blend |
| Inception | Jan 22, 1993 | Nov 6, 2023 |
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Nov 7, 2023 to Oct 14, 2026 (2.9 years).
SPY vs TBG 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 2.9 years both funds cover.
SPY vs TBG Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and TBG Dividend Focus ETF (TBG) is an ETF from EA Series Trust. Over the past year SPY returned +17.47% while TBG returned +15.30%. Year to date, SPY is up 13.53% versus a gain of 12.11% for TBG.
Over three years, SPY compounded at +22.36% per year against +17.15% for TBG.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TBG has been the more volatile fund, with annualized monthly volatility of 12.3% compared with 11.6% for SPY. 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 -14.8% for TBG. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.58. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while TBG charges 0.45%. On a $10,000 position that is $9 vs $45 annually, a gap of $36 per year that compounds over a long holding period. On income, SPY currently yields 0.99% against 2.82% for TBG.
Holdings Overlap
9.9% of SPY's money is in holdings TBG also owns. 68.3% of TBG's money is in holdings SPY also owns.
The two portfolios partly overlap.
26 positions in common, counted across the 504 positions we hold weights for in SPY and 38 in TBG, against full books of 1,515 and 78.
What only one of them owns
Our book lists 11 positions for TBG that do not appear in our book for SPY (29.9% of the fund), and 470 for SPY that do not appear in TBG (89.2%).
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 SPY | Weight in TBG | Difference |
|---|---|---|---|
| MRKMerck & Company Inc | 0.54% | 4.73% | 4.19% |
| CVXChevron Corp | 0.60% | 4.08% | 3.48% |
| JNJJohnson & Johnson - Common | 0.98% | 3.40% | 2.42% |
| BXBlackstone Group Inc. Class A | 0.14% | 4.17% | 4.03% |
| VZVerizon Communic | 0.33% | 3.90% | 3.57% |
| PGProcter & Gamble Company | 0.52% | 3.69% | 3.17% |
| PEPPepsico Inc. | 0.28% | 3.48% | 3.20% |
| JPMJpmorgan Chase | 1.43% | 2.08% | 0.65% |
| SPGSimon Property Group Inc | 0.10% | 3.17% | 3.07% |
| GILDGilead Sciences | 0.28% | 2.96% | 2.68% |
68.3% of TBG 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, SPY or TBG?
SPY has an expense ratio of 0.09% while TBG charges 0.45%. SPY is the cheaper option, by $36 a year on a $10,000 investment.
Which performed better, SPY or TBG?
Over the past year SPY returned +17.47% vs +15.30% for TBG, 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 TBG?
TBG has been the more volatile fund at 12.3% annualized versus 11.6% for SPY. Worst drawdown: SPY -18.8% vs TBG -14.8%.
Should I hold both SPY and TBG?
SPY and TBG have a monthly-return correlation of 0.58, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPY and TBG?
68.3% of TBG's money is in holdings SPY also owns. 68.3% of TBG's is in holdings SPY also owns. They hold 26 positions in common, counted across the 504 positions we hold weights for in SPY and 38 in TBG.
Which pays a higher dividend, SPY or TBG?
SPY yields 0.99% while TBG yields 2.82%, so TBG currently pays the higher dividend yield.
Is TBG better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 39.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.