TILT vs TSPA
Northern Trust Morningstar US Market Factor Tilt ETF vs T Rowe Price US Equity Research ETF
Which is better, TILT or TSPA?
Nearly the same fund. TILT costs less.
TILT has a lower expense ratio. TSPA led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.97. TILT is less concentrated, with 27.1% of the fund in its ten largest positions against 38.1%.
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 | TILT | TSPA |
|---|---|---|
| Expense Ratio | 0.25%Best | 0.34% |
| AUM | $2.2B | $4.7B |
| Dividend Yield | 1.08% | 0.55% |
| Holdings | 1,929 | 330 |
| YTD Return | +11.74% | +13.26%Best |
| 1Y Return | +15.61% | +17.33%Best |
| 3Y Return (annualized) | +20.41% | +22.25%Best |
| 5Y Return (annualized) | +11.12% | +13.59%Best |
| Volatility (annualized) | 15.9% | 15.5%Best |
| Max Drawdown | -24.1%Best | -24.7% |
| $10,000 over 5 years | $16,942 | $18,910Best |
| Top 10 Weight | 27.1%Best | 38.1% |
| Fund Family | Northern Trust Asset Management | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 16, 2011 | Jun 8, 2021 |
Volatility and max drawdown are measured over the window both funds cover: Jun 9, 2021 to Oct 14, 2026 (5.3 years).
TILT vs TSPA 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 5.3 years both funds cover.
TILT vs TSPA Performance
Northern Trust Morningstar US Market Factor Tilt ETF (TILT) is an ETF from Northern Trust Asset Management and T Rowe Price US Equity Research ETF (TSPA) is an ETF from T.Rowe Price. Over the past year TILT returned +15.61% while TSPA returned +17.33%. Year to date, TILT is up 11.74% versus a gain of 13.26% for TSPA.
Over three years, TILT compounded at +20.41% per year against +22.25% for TSPA; over five years the annualized figures are +11.12% and +13.59% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TILT has been the more volatile fund, with annualized monthly volatility of 15.9% compared with 15.5% for TSPA. 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 -24.1% for TILT and -24.7% for TSPA. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
TILT charges 0.25% per year while TSPA charges 0.34%. On a $10,000 position that is $25 vs $34 annually, a gap of $9 per year that compounds over a long holding period. On income, TILT currently yields 1.08% against 0.55% for TSPA.
Holdings Overlap
66.1% of TILT's money is in holdings TSPA also owns. 98.3% of TSPA's money is in holdings TILT also owns.
Most of TSPA is already inside TILT. Owning both mostly buys the same companies twice.
311 positions in common, counted across the 1,904 positions we hold weights for in TILT and 326 in TSPA, against full books of 1,929 and 330.
What only one of them owns
Our book lists 7 positions for TSPA that do not appear in our book for TILT (0.5% of the fund), and 1,224 for TILT that do not appear in TSPA (32.6%).
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 TILT | Weight in TSPA | Difference |
|---|---|---|---|
| NVDANvidia Corp | 5.56% | 8.18% | 2.62% |
| AAPLApple, Inc | 4.98% | 6.74% | 1.76% |
| MSFTMicrosoft Corp | 3.93% | 5.76% | 1.83% |
| AMZNAmazon.Com Inc | 2.53% | 3.93% | 1.40% |
| GOOGAlphabet Inc. C | 1.64% | 3.15% | 1.51% |
| GOOGLAlphabet Inc | 2.04% | 2.50% | 0.46% |
| AVGOBroadcom Inc | 1.66% | 2.64% | 0.98% |
| METAMeta Platforms Inc | 2.04% | 2.08% | 0.04% |
| MUMicron Technology, Inc. | 1.58% | 1.68% | 0.10% |
| JPMJpmorgan Chase | 1.13% | 1.41% | 0.28% |
98.3% of TSPA is already inside TILT.
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, TILT or TSPA?
TILT has an expense ratio of 0.25% while TSPA charges 0.34%. TILT is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, TILT or TSPA?
Over the past year TILT returned +15.61% vs +17.33% for TSPA, so TSPA leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, TILT or TSPA?
TILT has been the more volatile fund at 15.9% annualized versus 15.5% for TSPA. Worst drawdown: TILT -24.1% vs TSPA -24.7%.
Should I hold both TILT and TSPA?
TILT and TSPA have a monthly-return correlation of 0.97, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between TILT and TSPA?
98.3% of TSPA's money is in holdings TILT also owns. 98.3% of TSPA's is in holdings TILT also owns. They hold 311 positions in common, counted across the 1,904 positions we hold weights for in TILT and 326 in TSPA.
Which pays a higher dividend, TILT or TSPA?
TILT yields 1.08% while TSPA yields 0.55%, so TILT currently pays the higher dividend yield.
Is TSPA better than TILT?
TILT has a lower expense ratio. TSPA led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.97. TILT is less concentrated, with 27.1% of the fund in its ten largest positions against 38.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.