FTBD vs SPY
FTBD vs SPY
Fidelity Tactical Bond ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. FTBD offers more diversification with 618 holdings.
Side-by-Side Comparison
| Metric | FTBD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.09% | |
| AUM | $37M | $789.1B | |
| Dividend Yield | 5.46% | 1.01% | |
| Holdings | 1,525 | 505 | |
| YTD Return | +0.41% | +9.93% | |
| 1Y Return | +3.63% | +19.50% | |
| 3Y Return (annualized) | +4.86% | +19.33% | |
| 5Y Return (annualized) | - | +12.82% | |
| Volatility (annualized) | 5.8% | 15.3% | |
| Max Drawdown | -7.0% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jan 24, 2023 | Jan 22, 1993 |
FTBD vs SPY Performance
Fidelity Tactical Bond ETF (FTBD) is a ETF from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FTBD returned +3.63% while SPY returned +19.50%. Year to date, FTBD is up 0.41% versus a gain of 9.93% for SPY.
Over three years, FTBD compounded at +4.86% per year against +19.33% for SPY. Across the full 4-year window we track, SPY has the edge at +8.74% annualized vs +3.97%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 5.8% for FTBD. 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 -7.0% for FTBD and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.60. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FTBD charges 0.55% per year while SPY charges 0.09%. On a $10,000 position that is $55 vs $9 annually, a gap of $46 per year that compounds over a long holding period. On income, FTBD currently yields 5.46% against 1.01% for SPY.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, FTBD or SPY?
FTBD has an expense ratio of 0.55% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, FTBD or SPY?
Over the past year FTBD returned +3.63% vs +19.50% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), FTBD annualized +3.97% vs +8.74% for SPY. Past performance does not guarantee future results.
Which is riskier, FTBD or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 5.8% for FTBD. Worst drawdown: FTBD -7.0% vs SPY -56.5%.
Should I hold both FTBD and SPY?
FTBD and SPY have a monthly-return correlation of 0.60, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FTBD and SPY?
FTBD and SPY share 2 common holdings with a 0.0% weight overlap. Combined, they hold 1119 unique securities.
Which pays a higher dividend, FTBD or SPY?
FTBD yields 5.46% while SPY yields 1.01%, so FTBD currently pays the higher dividend yield.
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