SLNZ vs SPY
SLNZ vs SPY
TCW Senior Loan ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SLNZ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.09% | |
| AUM | - | $789.1B | |
| Dividend Yield | 7.52% | 1.01% | |
| Holdings | 296 | 505 | |
| YTD Return | +2.17% | +13.79% | |
| 1Y Return | +4.22% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 2.0% | 15.3% | |
| Max Drawdown | -2.6% | -56.5% | |
| Fund Family | TCW ETFs | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jun 28, 2013 | Jan 22, 1993 |
SLNZ vs SPY Performance
TCW Senior Loan ETF (SLNZ) is a ETF from TCW ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SLNZ returned +4.22% while SPY returned +23.66%. Year to date, SLNZ is up 2.17% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 2.0% for SLNZ. 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 -2.6% for SLNZ 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 0.46. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SLNZ charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, SLNZ currently yields 7.52% against 1.01% for SPY.
Holdings Overlap
SLNZ and SPY share 0 holdings out of 631 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SLNZ or SPY?
SLNZ has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, SLNZ or SPY?
Over the past year SLNZ returned +4.22% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SLNZ annualized +4.87% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, SLNZ or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 2.0% for SLNZ. Worst drawdown: SLNZ -2.6% vs SPY -56.5%.
Should I hold both SLNZ and SPY?
SLNZ and SPY have a monthly-return correlation of 0.46, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SLNZ and SPY?
SLNZ and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 631 unique securities.
Which pays a higher dividend, SLNZ or SPY?
SLNZ yields 7.52% while SPY yields 1.01%, so SLNZ currently pays the higher dividend yield.
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