SPY vs TBLD
State Street SPDR S&P 500 ETF Trust vs Thornburg Income Builder Opportunities Trust
Which is better, SPY or TBLD?
Large Cap Blend against Large Cap Growth.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y 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 | TBLD |
|---|---|---|
| Expense Ratio | 0.09%Best | 1.65% |
| AUM | $823.2B | $727M |
| Dividend Yield | 0.99% | 5.51% |
| Holdings | 1,515 | 216 |
| YTD Return | +13.53%Best | +4.05% |
| 1Y Return | +17.47%Best | +4.96% |
| 3Y Return (annualized) | +22.36%Best | +19.71% |
| 5Y Return (annualized) | +13.21%Best | +7.63% |
| Volatility (annualized) | 15.5%Tie | 15.5%Tie |
| Max Drawdown | -24.5%Best | -33.6% |
| $10,000 over 5 years | $18,596Best | $14,443 |
| Fund Family | State Street Investment Management | Thornburg Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | Jan 22, 1993 | Jul 27, 2021 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jul 28, 2021 to Oct 14, 2026 (5.2 years).
SPY vs TBLD 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 5.2 years both funds cover.
SPY vs TBLD Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Thornburg Income Builder Opportunities Trust (TBLD) is an ETF from Thornburg Investment Management. Over the past year SPY returned +17.47% while TBLD returned +4.96%. Year to date, SPY is up 13.53% versus a gain of 4.05% for TBLD.
Over three years, SPY compounded at +22.36% per year against +19.71% for TBLD; over five years the annualized figures are +13.21% and +7.63% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY and TBLD have been equally volatile, both at 15.5% annualized.
The deepest peak-to-trough decline in our data was -24.5% for SPY and -33.6% for TBLD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while TBLD charges 1.65%. On a $10,000 position that is $9 vs $165 annually, a gap of $156 per year that compounds over a long holding period. On income, SPY currently yields 0.99% against 5.51% for TBLD.
Holdings Overlap
At least 14.1% of SPY's money is in holdings TBLD also owns.
Stated as a floor: for TBLD, our book for it covers 84.7% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPY and TBLD share little of their money.
16 positions in common, counted across the 504 positions we hold weights for in SPY and 117 in TBLD, against full books of 1,515 and 216.
Top Shared Holdings
| Stock | Weight in SPY | Weight in TBLD | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 5.71% | 0.66% | 5.05% |
| TAT&T Inc. | 0.28% | 3.38% | 3.10% |
| METAMeta Platforms Inc | 2.22% | 1.12% | 1.10% |
| CSCOCisco Systems Inc. - Ordinary Shares | 0.66% | 2.67% | 2.01% |
| AVGOBroadcom Inc | 2.48% | 0.83% | 1.65% |
| MRKMerck & Company Inc | 0.54% | 1.69% | 1.15% |
| CMEC M E Group Inc. | 0.15% | 1.73% | 1.58% |
| PFEPfizer Inc | 0.24% | 1.43% | 1.19% |
| ABBVAbbvie Inc. | 0.70% | 0.83% | 0.13% |
| RFRegions Financia | 0.04% | 1.24% | 1.20% |
You are not choosing between two funds in isolation.
Whichever of SPY and TBLD 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 TBLD?
SPY has an expense ratio of 0.09% while TBLD charges 1.65%. SPY is the cheaper option, by $156 a year on a $10,000 investment.
Which performed better, SPY or TBLD?
Over the past year SPY returned +17.47% vs +4.96% for TBLD, 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 TBLD?
SPY and TBLD have been equally volatile, both at 15.5% annualized. Worst drawdown: SPY -24.5% vs TBLD -33.6%.
Should I hold both SPY and TBLD?
SPY and TBLD have a monthly-return correlation of 0.70, 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 TBLD?
At least 14.1% of SPY's money is in holdings TBLD also owns. Our book for TBLD is partial, so the real figure is this or higher. They hold 16 positions in common, counted across the 504 positions we hold weights for in SPY and 117 in TBLD.
Which pays a higher dividend, SPY or TBLD?
SPY yields 0.99% while TBLD yields 5.51%, so TBLD currently pays the higher dividend yield.
Is TBLD better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.