SPY vs XMPT
State Street SPDR S&P 500 ETF Trust vs VanEck CEF Municipal Income ETF
Which is better, SPY or XMPT?
Large Cap Blend against Municipal Bond.
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 59.5%.
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 | XMPT |
|---|---|---|
| Expense Ratio | 0.09%Best | 3.40% |
| AUM | $823.2B | $204M |
| Dividend Yield | 0.99% | 6.45% |
| Holdings | 1,515 | 76 |
| YTD Return | +13.53%Best | -12.71% |
| 1Y Return | +17.47%Best | -12.10% |
| 3Y Return (annualized) | +22.36%Best | +4.61% |
| 5Y Return (annualized) | +13.21%Best | -4.42% |
| Volatility (annualized) | 14.3%Best | 42.1% |
| Max Drawdown | -34.1%Best | -56.3% |
| $10,000 over 5 years | $18,596Best | $7,977 |
| Top 10 Weight | 38.2%Best | 59.5% |
| Fund Family | State Street Investment Management | VanEck |
| Category | Equity | Tax Preferred |
| Style | Large Cap Blend | Municipal Bond |
| Inception | Jan 22, 1993 | Jul 12, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Jul 13, 2011 to Oct 14, 2026 (15.3 years).
SPY vs XMPT 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 15.3 years both funds cover.
SPY vs XMPT Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and VanEck CEF Municipal Income ETF (XMPT) is an ETF from VanEck. Over the past year SPY returned +17.47% while XMPT returned -12.10%. Year to date, SPY is up 13.53% versus a loss of 12.71% for XMPT.
Over three years, SPY compounded at +22.36% per year against +4.61% for XMPT; over five years the annualized figures are +13.21% and -4.42% respectively. Across the full 15-year window we track, SPY has the edge at +12.83% annualized vs +2.94%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XMPT has been the more volatile fund, with annualized monthly volatility of 42.1% compared with 14.3% 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 -56.3% for XMPT. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.04. They move largely independently of each other.
Fees and Cost Over Time
SPY charges 0.09% per year while XMPT charges 3.40%. On a $10,000 position that is $9 vs $340 annually, a gap of $331 per year that compounds over a long holding period. On income, SPY currently yields 0.99% against 6.45% for XMPT.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 37 in XMPT, totalling 99.8% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 504 positions we hold weights for in SPY and 37 in XMPT, against full books of 1,515 and 76.
What only one of them owns
Our book lists 37 positions for XMPT that do not appear in our book for SPY (100.0% of the fund), and 496 for SPY that do not appear in XMPT (99.1%).
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.
You are not choosing between two funds in isolation.
Whichever of SPY and XMPT 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 XMPT?
SPY has an expense ratio of 0.09% while XMPT charges 3.40%. SPY is the cheaper option, by $331 a year on a $10,000 investment.
Which performed better, SPY or XMPT?
Over the past year SPY returned +17.47% vs -12.10% for XMPT, so SPY leads on 1-year performance. Over the longest common window we track (15 years), SPY annualized +12.83% vs +2.94% for XMPT. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or XMPT?
XMPT has been the more volatile fund at 42.1% annualized versus 14.3% for SPY. Worst drawdown: SPY -34.1% vs XMPT -56.3%.
Should I hold both SPY and XMPT?
SPY and XMPT have a monthly-return correlation of 0.04, 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 XMPT?
SPY yields 0.99% while XMPT yields 6.45%, so XMPT currently pays the higher dividend yield.
Is XMPT 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 59.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.