SPY vs TOLZ
State Street SPDR S&P 500 ETF Trust vs Proshares DJ Brookfield Global Infrastructure ETF
Which is better, SPY or TOLZ?
Large Cap Blend against Large Cap Value.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y 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 | TOLZ |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.46% |
| AUM | $823.2B | $165M |
| Dividend Yield | 0.99% | 3.32% |
| Holdings | 1,515 | 116 |
| YTD Return | +13.53%Best | +6.22% |
| 1Y Return | +17.47%Best | +8.61% |
| 3Y Return (annualized) | +22.36%Best | +14.25% |
| 5Y Return (annualized) | +13.21%Best | +7.34% |
| Volatility (annualized) | 14.6% | 14.5%Best |
| Max Drawdown | -34.1%Best | -39.3% |
| $10,000 over 5 years | $18,596Best | $14,250 |
| Top 10 Weight | 38.2%Best | 39.3% |
| Fund Family | State Street Investment Management | ProShares |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Jan 22, 1993 | Mar 25, 2014 |
Volatility and max drawdown are measured over the window both funds cover: Mar 27, 2014 to Oct 14, 2026 (12.6 years).
SPY vs TOLZ 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 12.6 years both funds cover.
SPY vs TOLZ Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Proshares DJ Brookfield Global Infrastructure ETF (TOLZ) is an ETF from ProShares. Over the past year SPY returned +17.47% while TOLZ returned +8.61%. Year to date, SPY is up 13.53% versus a gain of 6.22% for TOLZ.
Over three years, SPY compounded at +22.36% per year against +14.25% for TOLZ; over five years the annualized figures are +13.21% and +7.34% respectively. Across the full 13-year window we track, SPY has the edge at +12.74% annualized vs +4.35%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 14.5% for TOLZ. 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 -39.3% for TOLZ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while TOLZ charges 0.46%. On a $10,000 position that is $9 vs $46 annually, a gap of $37 per year that compounds over a long holding period. On income, SPY currently yields 0.99% against 3.32% for TOLZ.
Holdings Overlap
1.3% of SPY's money is in holdings TOLZ also owns. 34.6% of TOLZ's money is in holdings SPY also owns.
The two portfolios partly overlap.
18 positions in common, counted across the 504 positions we hold weights for in SPY and 112 in TOLZ, against full books of 1,515 and 116.
What only one of them owns
Our book lists 28 positions for TOLZ that do not appear in our book for SPY (15.3% of the fund), and 478 for SPY that do not appear in TOLZ (97.8%).
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 TOLZ | Difference |
|---|---|---|---|
| WMBWilliams Cos. Inc. | 0.13% | 4.32% | 4.19% |
| AMTAmerican Tower Corp (Aka: Snr S* Sp Gst | 0.13% | 3.78% | 3.65% |
| KMIKinder Morgan In | 0.09% | 3.05% | 2.96% |
| TRGPTarga Resources Corp | 0.09% | 3.02% | 2.93% |
| OKEOneok Inc. | 0.09% | 2.77% | 2.68% |
| SRESempra Common Stock | 0.08% | 2.57% | 2.49% |
| EXCExelon Corp | 0.07% | 2.10% | 2.03% |
| EDConsolidated Edison Inc. | 0.06% | 1.91% | 1.85% |
| CCICrown Castle International | 0.05% | 1.42% | 1.37% |
| PCGPacific Gas & Electric Co. | 0.05% | 1.36% | 1.31% |
34.6% of TOLZ 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 TOLZ?
SPY has an expense ratio of 0.09% while TOLZ charges 0.46%. SPY is the cheaper option, by $37 a year on a $10,000 investment.
Which performed better, SPY or TOLZ?
Over the past year SPY returned +17.47% vs +8.61% for TOLZ, so SPY leads on 1-year performance. Over the longest common window we track (13 years), SPY annualized +12.74% vs +4.35% for TOLZ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or TOLZ?
SPY has been the more volatile fund at 14.6% annualized versus 14.5% for TOLZ. Worst drawdown: SPY -34.1% vs TOLZ -39.3%.
Should I hold both SPY and TOLZ?
SPY and TOLZ have a monthly-return correlation of 0.72, 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 TOLZ?
34.6% of TOLZ's money is in holdings SPY also owns. 34.6% of TOLZ's is in holdings SPY also owns. They hold 18 positions in common, counted across the 504 positions we hold weights for in SPY and 112 in TOLZ.
Which pays a higher dividend, SPY or TOLZ?
SPY yields 0.99% while TOLZ yields 3.32%, so TOLZ currently pays the higher dividend yield.
Is TOLZ better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y 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.