SPY vs TLTE
State Street SPDR S&P 500 ETF Trust vs Northern Trust Morningstar Emerging Markets Factor Tilt ETF
Which is better, SPY or TLTE?
Large Cap Blend against Large Cap Value.
SPY has a lower expense ratio. SPY led over 3Y, 5Y and the full window, TLTE over 1Y. TLTE is less concentrated, with 23.8% of the fund in its ten largest positions against 38.2%.
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 | TLTE |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.57% |
| AUM | $823.2B | $345M |
| Dividend Yield | 0.99% | 3.28% |
| Holdings | 1,515 | 3,106 |
| YTD Return | +13.53% | +15.08%Best |
| 1Y Return | +17.47% | +22.81%Best |
| 3Y Return (annualized) | +22.36%Best | +19.81% |
| 5Y Return (annualized) | +13.21%Best | +7.74% |
| Volatility (annualized) | 14.1%Best | 16.6% |
| Max Drawdown | -34.1%Best | -47.6% |
| $10,000 over 5 years | $18,596Best | $14,517 |
| Top 10 Weight | 38.2% | 23.8%Best |
| Fund Family | State Street Investment Management | Northern Trust Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Jan 22, 1993 | Sep 25, 2012 |
Volatility and max drawdown are measured over the window both funds cover: Sep 28, 2012 to Oct 14, 2026 (14 years).
SPY vs TLTE 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 14 years both funds cover.
SPY vs TLTE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Northern Trust Morningstar Emerging Markets Factor Tilt ETF (TLTE) is an ETF from Northern Trust Asset Management. Over the past year SPY returned +17.47% while TLTE returned +22.81%. Year to date, SPY is up 13.53% versus a gain of 15.08% for TLTE.
Over three years, SPY compounded at +22.36% per year against +19.81% for TLTE; over five years the annualized figures are +13.21% and +7.74% respectively. Across the full 14-year window we track, SPY has the edge at +13.30% annualized vs +4.25%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TLTE has been the more volatile fund, with annualized monthly volatility of 16.6% compared with 14.1% 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 -34.1% for SPY and -47.6% for TLTE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.69. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while TLTE charges 0.57%. On a $10,000 position that is $9 vs $57 annually, a gap of $48 per year that compounds over a long holding period. On income, SPY currently yields 0.99% against 3.28% for TLTE.
Holdings Overlap
0.1% of SPY's money is in holdings TLTE also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 504 positions we hold weights for in SPY and 2,920 in TLTE, against full books of 1,515 and 3,106.
What only one of them owns
Our book lists 11 positions for TLTE that do not appear in our book for SPY (0.3% of the fund), and 495 for SPY that do not appear in TLTE (99.0%).
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 TLTE | Difference |
|---|---|---|---|
| TELTE Connectivity PLC Common Stock | 0.09% | 0.01% | 0.08% |
You are not choosing between two funds in isolation.
Whichever of SPY and TLTE 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 TLTE?
SPY has an expense ratio of 0.09% while TLTE charges 0.57%. SPY is the cheaper option, by $48 a year on a $10,000 investment.
Which performed better, SPY or TLTE?
Over the past year SPY returned +17.47% vs +22.81% for TLTE, so TLTE leads on 1-year performance. Over the longest common window we track (14 years), SPY annualized +13.30% vs +4.25% for TLTE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TLTE?
TLTE has been the more volatile fund at 16.6% annualized versus 14.1% for SPY. Worst drawdown: SPY -34.1% vs TLTE -47.6%.
Should I hold both SPY and TLTE?
SPY and TLTE have a monthly-return correlation of 0.69, 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 TLTE?
SPY yields 0.99% while TLTE yields 3.28%, so TLTE currently pays the higher dividend yield.
Is TLTE better than SPY?
SPY has a lower expense ratio. SPY led over 3Y, 5Y and the full window, TLTE over 1Y. TLTE is less concentrated, with 23.8% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.